six tragedies in her quest to get affordable health insurance premiums last year for herself and her retired husband one was divorce another was taking thirty percent pay cut she chose the latter the maneuver slashed the premiums for the couple who lived in chattanooga tennessee from exorbitant to economical instead of two thousand one hundred dollars a month the amount she had been quoted for twenty seventeen their premiums are just eighty seven dollars monthly her lost income more than compensated for by qualifying for insurance subsidies they're seeing this teen were premium act like you know we live in france for many years and the population spends all their day trying to game the system game the government and game the subsidies and avoid work at all costs and they call it socialism but it's just basically a lazy ism or the exceptionalism that is for all law for all and so america is entering a late stage sclerotic growth of an empire that's in the decline like france before

it the dollar's losing its status as a world reserve currency and so the population just burns all day trying to nickel and dime each other and the government well this is what you get as well when you have these sort of wealth and income gaps and opportunity gaps is that instead of everybody just having a national health service or the french health care system is really good an equal everybody's treated equal here it's it's it's either you are like bled to death or you're given like world class health care for nothing for eighty seven dollars a month so those are the only two options so at a certain point and it made so much sense it was so obvious to see this coming is that this couple had eighty five thousand dollars in income and that meant she had to pay that was before taxes by the way so that meant they had to pay two thousand one hundred a month if she just lowered. two under sixty five thousand or sixty two thousand

that she just gets it for free so why go through all that stress of coming up with twenty one hundred dollars a month working your mom off in order to get that money to pay that twenty one hundred and then just sit back you know she gets more days off she could just sit at home do something else read books whatever and west of quid pro quo for people who are happy to pay the maximum in the extortion racket that the drug and insurance companies got the government to impose an unconstitutional tax called obamacare is that they are bought in to america's various foreign policies of rape and pillage for a few bucks that's the foreign policy or two pharmaceutical companies created opiate crisis domestically you don't hear anyone questioning that on them s n b c or c n.b.c. or any of the mainstream media outlets they all buy into it they get paid a lot of money they'll pay the stipend to the health extortionist and the obamacare folks as long as they push the line that there's still an active non ghostlike

population that's crawling around america fishing through garbage pails living on dollars a day during the third world and trying to game the system twenty four seventh's so here you have a situation where people have been incentivized to earn less to be less to think less to strive less an order to get the free health care overseas anybody who's connected in d.c. has connections or close to power and erik prince is one of these guys erik prince is a very good friend of steve bannon he's his sister is betsy demos who is the education secretary and the trumpet ministration well apparently he pitched a plan to strategically scam the american population and basically plunder afghanistan and thus exposing what the plan was all along private war erik prince has his eye on afghanistan's rare metals controversial private security tycoon erik prince is famously pitched. day shift plan to the trumpet ministration hire him to

privatized the war in afghanistan using squads of security contractors now for the first time however buzz feed news is publishing that pitch a presentation that lays out how prince wanted to take over the war from the u.s. military and how he envisioned mining some of the most war torn provinces in afghanistan to help fund security operations and obtain strategic mineral resources for the u.s. once life for example shows that he believes that there's one trillion dollars worth of rare earth metals and things like lithium for batteries in just helmand province and he wants to go get it and give the us government a cut and his private contractor says securities in his hit man his guys will go in there and and take it but you want to do a leveraged buyout of afghanistan is pledging their collateral of the rare earths to fund his takeover of the country and to sell off the rare earths and to get a fee on the invasion now dick cheney pitch that the invasion of iraq would pay for

itself from the revenues on the oil's yeah i thought it was a mod chalabi. that's right and that turned out to be a sinkhole of multi-trillion dollar catastrophe and human rights disaster i'm sure livio of korea hillary clinton was pitched in a similar way they were to get off the well get the energy resources or the leverage buyout of libya greece was totally destroyed as a quasi i leveraged buyout between hank paulson or john paulson hedge fund manager and lloyd blankfein of goldman sachs to turn that country into some kind of paradise for hedge fund managers so an area financier's like in this case erik prince former you know assassin for hire turned head fund manager to go in and do a leveraged buyout of a country or a or or a company the results are encroaching all of awfully human rights catastrophe and no accountability this will be a disaster will get rich they'll be a lot of deaths a lot of murders a lot of the. zis will be written off and never talked about there are new

technologies that can basically offer the afghan people themselves access to that mineral wealth and that is something like an initial coin offering this is just right now before erik prince can sell this because he is still in d.c. pitching this to all sorts of lawmakers trying to get him to go in there his private army to steal their resources well why don't they just like float and say hey you know here's our initial talk calling offering you could have a cut of our one trillion dollars in helmand helmand coin you know they they should offer it is worth a trillion dollars they'll take five hundred billion you come in come extract it. that they can immediately access that the the global financial crypto markets are desperate for investment opportunity if we push this virus far far fokus yes it was banking finance minister of greece and we told them to go to bitcoin make bitcoin we talked about this you know say exactly but greece only had debt these guys have

no debt zero debt from afghanistan and they've got thousands and trillions of dollars of risotto as well as going to offer the petro i was going to be a crypto coin backed by mats or as you talked about in the previous episode with our guest from piers but but now i want to talk about this like how what he is modeling this on this is quick. is speaking of imperial member i said these imperial nations you always see a shrinking of the wealth home and x. as the footprint has to expand overseas and more and more is dedicated to keeping the edge of empire alive and people like erik prince very wealthy so prince briefed top trump administration official directly talked up his plan publicly on the d.c. circuit and published op eds about it keep patterned the strategy he is pitching on the historical model of the old british east india company which had its own army and colonized much of britain's empire and india quote an east india company approach he wrote in the. germinal will use cheaper private solutions to fill the

gaps that plague the afghan security forces including reliable logistics and aviation support you know you go to the wall street journal you go to bloomberg or you go to financial times and you see all of this stuff openly discussed the never gets the sauce on the shrieky cable news which is pushing hoax after hoax after hoax about very are social issues whereas the empire is being divided out and cut and chopped all the wealth stolen around the world in the only in the pages of the financial press you know well of course the east india company was a colossal failure and bubble burst could be the south sea bubble as well that the so am i confusing the middle i am a little bit here you know but it isn't a company was very very successful and. i think it was successful and what was it was always a success this is a show about modern day and i'm just comparing erik prince that he is modeling this

on a imperial previous empire how the east india company helped with their private armies to expand the british empire the british empire for sure has collapsed that is gone you can say that for sure that you got that right here we have an american empire on the verge of collapse and here we have a guy erik prince who's connected to the political powers that be who wants to expand well who plunder the rest of the nation while the u.s. still ok ok so so in the us either the british empire in the east india company versus the american empire america princes yes neo east india company whatever he's calling it is there any east company yes yes he wants to do it through his chinese registered company as you do. because he knows which is the next empire this is him transitioning to the next empire i think i don't know if he's even allowed to set foot here but one surprising element is the commercial promises prince of visions that the u.s. will get access to afghanistan's rich deposit. of minerals such as lithium used in

batteries uranium magna site and rare earth elements critical metals use and high tech from defense electronics one slide estimates the value of mineral deposits in helmand province alone at one trillion dollars and he does mention actually even though he's doing it through it he's proposing this anyway through his chinese register company is that the chinese may feel a the rare earth elements market so that giving out that's right the u.s. as well i mean there's a lot of rare earths on asteroids one up but eric present a rocket strapped to their rocket and blast off and outer space you know see i think i'm going to be ok we've got to go to the break don't go away much more coming your way. when you all know it's coming through and. if somebody would have been told to spend my life to plan to get to the two story person of the salt it was clear.

every night or we were attacked by the arabs oh are we will attacking them and we will extremely short. saying that's not possible oh me both. and then the soldiers myself and the. host with all the prison over to go over. really much close citizens in. groups like and let me get my head that there is noone will to be able to do the. role because the vessel only forty years they play a short tournament. i'm a chess you know your lifestyle beautiful part of the old. it's they've won so many

. lies whatever a sixth time flow it's a list of a story. how does it feel to be a sheriff the greatest job in the world it's as close to being a king as any job there is one business model helps to run a prison now we just do it all my guess is you'll be video visitation i don't know what comes in it well we don't have to sarge them anymore there's a cult effective that's what they want to do that at the moment they don't give a damn if you do good so it doesn't matter there are actually paying us to put it back into the louisiana incarceration rate is twice as high as the u.s.n. breach what secret is behind such success.

welcome back to the guy's report on nice guys are time now to turn to marshall all bach is the research associate at the levy institute martial law come back next thanks for having me again all right listen before we get into this deep you know ideological stuff i got to ask you about a tweet talking about the carolina hurricanes and the national hockey league oh yeah there are thoughts on this they should relocate to quebec city story all you hockey fans in raleigh i know there's not many very many of you but that's my team now i know all of them when you're talking about reloading them to quebec i mean i'm just going into the hurricanes you and maybe five thousand other judging from the attendance levels at the games so while this is part of an expansion of the n.h.l. well no the whole reason why this came up is because seattle agreed to spend money were renovating its old arena so gary bettman came out last night in effect all but promised them an expansion franchise for a cool six hundred fifty million dollars so if you like the stanley cup this year why go through with the leafs limit on

a medal and of course you know that's my team is their tameness their year all right so we know you know more about m.m.t. you're one of the preeminent m.m.t. people tell us about it more would describe myself more as a popularizer and probably again to regard to modern monitor theory that the people really behind it who have done all the heavy lifting are scholars like bill mitchell of the university of newcastle in australia stephanie kelton randy ray young cradle and of course war and mostly who's also got a problem following on in the twitter sphere so tell us a little bit about it just give us a primer on it i'm just going to sit back and let you talk a little bit about it as a people have a real interest in this there's a lot of different aspects to it but the main point that modern monetary theorists always make is that there is no inherent financing constraint when you are of sovereign in your own currency and by that means you are the issue of your own currency you are not operating on an exchange rate standard a gold standard. you're free to create as much money as is required.

consistent with broader public purpose that which is not to say as dick cheney did that deficits don't matter what it does mean is that the focus remains on the constraint of real resources so that if the government keeps spending willy nilly resources codified qualify that well i mean like if you go to tight labor market you've got tight commodity markets and you keep spending money then of course you can get inflation that's your constraint but there's no necessary constraint on say you know the european union has this ability and growth pact with prodi rightly called the stupidity and growth pact with they say you can't run budget deficits more than three percent of g.d.p. or some grace was entered into the euro goldman sachs help them cook the books to get around that yeah but that all that there is no concrete there's no empirical basis at any level per say ok what's the who and the government the function of this would fall to the treasury right that's correct that's not this well the look at the central banking treasury effectively have a unified function what happens is that you know the treasury spends the money into

existence and the federal reserve as the central bank effectively acts as the scorekeeper and you know to. is the entity that actually punches in the the the digits on the keyboard you know that creates the money in the first place does the obviate the need for the central bank well it is. because they saw your bank loans the money to the treasury effectively right wrist and that's where you end up with a problem because you've got to print money to pay the interest and we end up with a kind of a explosion and well but it's like saying you know you have your mother and your father you know they both take on the parenting function they just take on different roles so that the central bank is privately owned and the federal well i've heard that argument before but it is a creature of congress it was created by congress could be revoked was is not a wholesome beast it doesn't like to operate that is a different interest of all. privately held bank that is lending money. and interest that is not. i will i wouldn't disagree with you. one of the reasons

america staged the revolution was to get rid of the i way from the bank of england the bag of england and the course limited the bank the united states at one point as well but but look even if you go over to the federal reserve to more replaced with something else that you're not going to eliminate corruption looks like you know in congress is in theory a public institution supporting acting in broader public purpose but i wouldn't say that what you've seen out of congress certainly in regards to this tax bill is ok you're saying that they would be proactive in in increasing or decreasing availability of money depending on restraints and constraints and taking the temperature of the economy whereas in the central bank of quezon they seem to only see one possible outcome and that is to keep rates as low as possible seemingly to kowtow to folks that are benefiting from these low rates like the leveraged buyout people buying back their own shares people involved in all kinds of nefarious games that require low interest rates and they don't raise rates even though the signs

are there to raise rates i would question whether there actually are signs that you know raising rates i mean i think there's signs of deterioration in the credit market because there are signs of. a slowdown than in a lot of different areas so i'm not sure i would agree with that but the point is actually. here is would argue that the natural rate of interest is the euro because what happens is what when you flood the system full of reserves and eggs are really that pushes. prices down to interest rates down to zero and it's only if you have an active agent on the other side whether that be the central bank actually raising the discount rate or raising interest rates on all known reserves and you actually can raise your talk about money velocity ok this is the rate at which money goes from bank to bank to bank to bank to bank and in an expanding economy of course you have a high money velocity and. in a contract economy you see low money velocity now sense the two thousand and eight

crisis we see the central bank printing records amount of cash and it being hoarded on the balance sheets of banks that are technically insolvent they're not lending it out the money is more a bond it's dead because there are bad actors enabled by the central bank keeping the zombie banks afloat marshall you know that's a problem and so what it will how do we deal with that ok well let me just raise let me just finish in the interest rates are low now because there's no demand for credit it's like saying there's millions of small businesses in america and they don't want to grow they don't want to hire people there's no a-q. nomic growth and they do what they want to borrow money but they're not being able to borrow money because the banks are hoarding it on their sheets to keep their is it all the balance sheets afloat well first of all they don't lend the reserves i mean reserves are there for settlement purposes with in the interbank market and also with the plate but but look lending itself is. to a contract between lender and board so you want to have a board or who's actually rising income and this. is gainfully employed but it

takes on a low it went away with bank stock but then a limit reserves but their balance sheets are backed by reserves in other words they lend money but they don't keep any risks they're playing games with through the primary dealers or with the central banks. exposure to these loans to zero they don't take any fricken risks so they have a celestion sure but the what the central bank they're they're not directly loaning out reserves but they have a direct action to the banks and that's a dead system they're keeping the zombie banks alive and tears have. things to say about that as well generally speaking if you read the works of people like bill mitchell for example he he argues that the best thing would be to have a. narrow banking model where you fixedly preserve its utility it's not it's not out there making bets like that on reserve is leverage sixty to one yes making threats to zero percent interest rates. i meant say treasury function is just trading getting back to this idea of money as utility they're just what

they're going to get out there is zero percent because they're not trying to scam on the rate spread they're just making it either available or not available right in the way and they also would argue that the optimal way to control demand is why fiscal policy rather than through interest rates because interest rates are a you know i always say it's like using a meat cleaver to conduct surgery you know interest rates have a variable effect because for every person that's hurt by rising interest rates there's a saver who might be helped light so it doesn't have the same deal from savers you have to speculators so for example when you had this housing bubble in the in the in the early two thousand well actually it started well below that before that but if you actually introduced you know real estate taxes that could slow down and you wouldn't need to use the interest rate weapon that's just one example ok who determines whether the economy should be injected with cash or not you're looking at a matrix of data you talked about wages talking about inflation all those parameters have been bastardized and distorted over the years because the government wants one recognize inflation so they do have donek adjustments to the c.p.i.

and other you know here is to make it look like there is no inflation because i don't want to pay out any and the kind of cost of living adjustments and these other inflows i was already well who in government would actually get to be in charge of the data in a real way then the national data services who are you know but you know the actual data there are many ways to measure the data and you and the broader you get on the employment issues for example the more accurate a gauge you get for the economy you're obviously basing your remarks on on certain data points you have seen prevail over that of your own labor just as right garbage no i think actually the b.l.s. . they produced very very good work you know they can employ rates going down but the number of people that are unemployed keeps going up there's like ninety five million people well jubal as you know well employment that are not working and the high number and that statistic is underemployment is a big problem and of course what you're talking about is the the number of people that are actually employed you know so yeah you're right. that's again based on data that's out there for people to see so it's it's you know it's really hardly any pick the garbage data well the government doesn't want to do that well because

it's disingenuous of course they are but you're asking me to you're not going to imply that the theory is responsible for the cherry picking of the garbage you know that's that's what you know that's like no i think this that really blaming the no that there is fine in terms of let's look at the money supply and let's treat it as a utility and let's keep interest rates at zero and before the central bank in america before nine hundred thirteen is not the way kind of the way but you are right what you were on a gold standard then as well and the gold standard ok so the gold standard let's talk about that because that is not in the m.m.t. world they don't like the gold standard right they do not like any constraint which impinges on the ability of the government to act in a sovereign capacity is the way they would they would phrase it ok and the gold standard does not allow you to deal with the you know exhaustion of extreme shocks to demand that you have had to say throughout the night he said he or like you also heard about the constraint of a girl standard versus the artificial constraints that you're putting together

their academic world saying all the data that we're looking at which could be nonsense we're going to that's one of the academic results that's that's political today's age where they come from the us the academics and the think tanks and the first and how well they infiltrate into the government they push their you are really you are correct. because if you think i'm correct well i'm not because you want to back way back you're wrong about the carolina hurricanes you know this is a pattern marshall well we don't we'll will disagree on that but on the on the other points yeah you're right economists often have a political agenda ok. and economics is a social science and many of the biases that people have in regard to polls the outcomes they want are informed by their politics which is why you have the often cherry picking at data or using discredited economic theories because you know like someone like greg mankiw has still his books to to to have a goal of gold as it is so much gold. here's the goal here's the constraint now we have to work underneath that constraint why not just go with the real constraint

instead of running us on a come up with an artificial construct is exactly what m. and t. want and it tears want to do work on brewer work on the basis of conducting policy on the basis of real constraints rather than artificial gold is like a real constraint you know why do you want to do it on gold because it doesn't work for and for one hundred years. in what way did it work you had five depressions in the nineteenth century you had the great depression the one nine hundred thirty s. in what way to gold i gather it's all globalization was built on the gold standard and the gold. of. the policies between intercountry policies on the gold standard you had one hundred years of growth about the night up until the early twentieth century you had five depressions in the nineteen how long were they that of the year but you know even oppression you know it's like well i mean it wasn't without oppression is like us also some without hell i mean you're going to have a kid the national poll back that's the way capitalism works you want for market capitalism or you want like diapers social. well look i don't disagree that you can have you're going to have depressions or recessions the question is do you want to

have optimal policy tools to mitigate the impact of that that's what you really want to know and that's a good question but i've got to go we got to go to the we got to go we got elise actually on the concert it's my pleasure i was going to leave yeah go the maple leafs are going to win that's that's the point of this conversation so the toronto maple leafs are going to win the stanley cup and there's something called m.m. take. to catch us on twitter at kaiser report until next time.

it's a. wonder when the. color of the city the. new look in the moon took all. this i wrote these are the neural channel four in the afternoon can all be mental wreck a friend with a photo of him up with him for a moment up on the u.s.s. a local little kid on the one that was in the beginning to see him. all. of those. oh so. i thought that the awful. about your sudden passing i've only just learnt you worry yourself and taken your

last wrong turn. you're out caught up to us we all knew it would i tell you i'm sorry for me i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met in my life turned on each prank. but the. my feelings starting to change you talked about more like it was he still some are fond of you those that didn't like to question our arc and i see the promised to never be like it said one does not leave the funeral in the same as one enters the mind gets consumed with this one different speech here because there are no other takers. to claim that mainstream media has met its maker. just by accident i discovered about the struggle of the. that was

a moment where isis targets the body looked like it was about to be destroyed then as someone who put themselves on a kiss here are some people struggling for on the kist idealogy if i didn't somebody with the skill with the ability to go and help those people in the existential struggle in a moment of need then my whole life i'd not be a hypocrite. or . brick in the west bank a day after four palestinians are killed during the months of protests tensions remain high following the u.s. recognition of jerusalem as israel's capital. also ahead this hour to news are american and north korean diplomats face off of the un security council with both

sides accusing each other of escalating tensions on the korean peninsula. and austria's ruling comes servant of strike a coalition deal making the country be only western european nation with a far right party in government.