you know the democrats are the ones remember just at the in the budget when back in august or september trump had asked for a bike and ten percent increase in the pentagon's budget and they were like no no no fifteen percent you got to take more so they added like billions that trumpet and even asked for so where that's regressive. why why are they now saying like virtue signaling the how progressive and liberal and and how they care about the poor people like what why now and why did they focus all of their media air time on a foreign country over there you know russia they didn't focus on domestic policy nobody even knew about this stuff until it happened look the corporate tax rate in america for this and p. five hundred adjusted for tax tax avoidance and tax loopholes that last year was roughly five percent yeah post this tax reform will be roughly five percent their

taxes are going to exactly be exactly the same they don't pay taxes general electric at a seventy thousand page tax return that they filed and they paid zero tax as a matter of fact they got a tax rebate so the tax rate for corporations will be the same but this idea of lowering taxes is a vote grabber it's propaganda and it's well it's probably get passed through taxes for small and medium sized enterprises it's not general logic it's not a pass through apple is not a pass through fox corporation news corp or not pastors these are mom and pops these are like people with one hundred thousand two hundred thousand three hundred thousand dollars sort of income there yes but i was the point is made before is that they'll simply raise the obamacare premium any tax yeah other words you're not you're not going to see that day now you're not going to get in your pocket is it whatever gain we'll have always have to go to lockheed martin and rate the fact that's that's what we have here. you also mentioned savings and i wanted to bring this up this is a tweet from the st louis fed a tweet from them this is before christmas. but you know i was so busy hypnotizing

you know and you were so reason unburdened of that hundred thousand big claim that was weighing down on my conscience well this is from the st louis fed i'm talking about savings and and the economy remarkable negative interest rates may seem ludicrous but not if they succeed in pushing people to invest in something more stimulating to the economy i think government bonds so they're floating negative interest rates and that this may be a good way to get people out of government bonds and into something more stimulating to the economy like what what's more stimulating to the economy at this point more more lockheed martin some more drones surveilling us or what the debt for households in america if you have the national debt the unaccounted for debt like social security medicare medicaid the corporate debt and yet all that together i haven't seen the numbers lately but it's something in excess of five hundred thousand dollars per household and because the debt sellers wall street packages

that sells that makes money and profits and fees from debt they feel like they need to make even greater profits they have a big fat cattle prod that they stick to everyone's back and they say negative interest rates are good for you go buy more go give us more of your money go into debt go buy a margin going to give us more so this is abusive subtly wall street's been given a cattle prod and a noose and you can take your pick either you get electrocuted to dear death or we're going to kill you and. make america more larcenous thick and more deadly thank you trump he's the last american president i predict. stay tuned for the second half a whole lot more coming your way. so

deep in the corruption soul i think that the reason of corruption is liberals our interpretation of liberalism is of course the most important reason reigning corruption and could not cure it because she thinks that liberalism is to cure liberalism is the poison. in some american cities the police built themselves cling to refutation of people who walk on the streets of the united states who are at risk from the very people who are supposed to protect that poor people are no more afraid of police than of criminals. who can see something happening and this is like i don't want to call the cops let that happen rather than call the cops in those young black men lose their lives chasing the same goods on the trigger you never

know better safe than sorry i don't know that someone else is going to pull a gun so. unfortunately around around here we end up killing our guns are stolen from such precautions true. spiritual people have been saying about redacted a night with the fact that it's full on awesome the only show i go out of my way to launch you know what it is that really packs a punch. yeah mr john oliver of harvey america is doing the same thing we are apparently better than two thousand and six and see people you never heard of love redacted the night president of the world bank bill pay but he doesn't really mean it seriously send us an e-mail. i am welcome back to the kaiser report i'm max kaiser a or here with michael pound

out my call how are you i'm doing great thanks for having me back max i should mention you were of cunto port so penta portfolio strategies penta port your money manager i do you're a gold lover you are kind of hedging your bet during these gold times of flatness to juice the returns a little bit so you're in the market inflation deflation portfolio doesn't just buy gold and short stocks all the time not a stopped clock here we do this so i have dividend stocks yeah i think the market has a few more months of fumes to run on or run over the cliff before falling a while the coyote before they drop for christ actually craters let's talk a little bit about that so the market is defying expectations by continuing to trade higher what's driving it i mean what's rival take a guess and still can i would point no it's fifteen trillion dollars of artificial little money printing from the federal reserve yet from the from the c b j from the

b.o.j. and you know the t.b.o. see you have silly you know let's just talk about how overvalued this this market is the market cap of stocks as a relationship to the economy is now one hundred and forty two percent maxwell one hundred forty two that has never happened outside of the very tail end of one nine hundred ninety nine and just before march of two thousand yeah ok so we are about as overvalued as we've ever been in the history of the market the average of that ratio was fifty percent so we're extremely dangerous here and it doesn't have much longer to go before absolutely craters in my opinion ok so i always away so right so silver at peaks you really should be hedged right now if you just if you're a buyer and hold situation be hedged i got a question for you speaking about central banks stanley miller. who was thirty percent annualized rate of returns george soros as money manager considered to be one of the best you know of all time he was on t.v.

recently and he said that the fed should stop their engineered deflation and deflation and they because all they're doing is causing massive problems engineer deflate in other words by keeping interest rates low right they are engineering the deflation in that they are keeping the zombie banks alive it does not mean banks were to collapse that oh it would collapse then the bond market would collapse and interest rates would go to a more normal four percent five percent on the or on the treasury bond well i tell you what the fed did do along with the other e.c.b. as they destroyed the entire free market worldwide there is no more free market when they did that by printing fifteen trillion dollars taking interest rates to zero percent y. so you and i can borrow a lot more money you know that the the savings rate on consumers now has plummeted to three point two percent used to be ten percent for decade after decade but

people are not buying mind the velocity of money is that the savings rate is three point two percent it's bad that's max we've we've piled on as a nation eleven trillion dollars of debts. since two thousand and eight we're part were loaded with debt and for every one percent increase in interest rates mr druckenmiller says ok let's let interest rates rise which is what would happen if central banks that's the way the german boom is thirty basis points what the hell is it doing at thirty basis points it should be four percent look at nominal g.d.p. that's where the ten year should be the ten years thirty beeps one third of one percent should be four or five hundred basis point ok for every one hundred basis point one percent move up in interest rates we pay an extra two hundred billion dollars in interest expense ok consumers paid seven point four billion dollars in credit card interest just because the fed raises raise rates four times ok we cannot tolerate real interest rates because this overvalued bloated stock market

would come cratering down i advocate i defend mr druckenmiller we need to get back to reality in the stock market let the markets dictate where interest rates should go right but don't be fooled we would have a deflationary depression that would provide across the globe and i'm all for it because that's the only were we to get back to a sustainable viable economy in the world i'm a little bit worked up a little bit upset because of this because people are being. they're crying a lot they're crowded into these bubbles which are extent all over the globe and they're going to get crushed so the sooner they burst and they will burst it's inevitable the sooner they burst the less people get injured well it's beyond that because and merry christmas but yes and when joy our figgy pudding. but it's too late you know because there's not going to be a gradual rural ization of interest rates is going to be in a horrific crash because if ever they bail out the creditors in two thousand and

eight and they just gave more money to build more leveraged ponzi schemes in the sky with vs money and fractional reserve banking and multiples and stock buybacks in a stock buybacks to be illegal on the other legal and so this one falls off again it'll be catastrophic that we already have so i mean i understand you're positioning yourself you know you're hedging yourself you're ready to go short you think gold is something to go to in rational rationalization of markets right. now though we have all about ten percent of the portfolios in gold because gold is not like rising real interest rates so right now you know we have mr mr powell coming on to the fed genuine is less stand is going to be today if you will today which was a recorded interview but she was going to raise rates again today december thirteenth that we recorded interview she was supposedly going to raise rates three or four more times in two thousand and eighteen mr powell will be the one doing that not

janet yellen and that means nominal rates or will be rising real interest rates will be rising and that's not very good for gold which is one the reason why bitcoin is outperforming gold because because you heard a big point not me i was there i was trying to get your nice and not bring up a client but you brought it up i did you think you know nose under the tent. now we're going to. go i mean let it go well i mean it's good for you congratulations compliment great job only because i've been i've been asked about bitcoin for two years now yeah over two years i've been dead wrong ok but bitcoin is not gold two point zero it's not gold zero point two big coin if you understand a little bit technology behind it i think you have a prior. vicky you got a public key what are they is just about sixty four numbers in letters numbers and letters are endurable numbers and letters aren't rare numbers and letters aren't

money unless they're backed by the taxing authority of a government or the us is military might. do you think about if it is another's if these numbers and letters were backed by gold or oil which some private blog chains do then they have money but they're certainly not rare there's a thousand plus of these currencies out there and if i was you i'm going to give you my early christmas present take some profits ok that that's your thought. logic on one couple of points so one aspect about because it gains a lot of attention people like about it is that they can divorce themselves from the financial system they don't need to be associated with a bank they don't need to have anything to do with the banking system they're completely outside of the banking system things are that's extremely appealing for a lot of i understand completely ok and we all know that you know that the value of something is what someone's going to pay for it absolutely and the price to get out

of the banking system and into big is the currently what the price is number one the centralised it in the digital did they didn't feel as action speaks to the security of bitcoin he said that there's nothing particularly sacred about the numeric alphanumeric keys etc but it is an encrypted protocol that is secured by network of nodes that audited every ten minutes that give it. anti-censorship qualities no government no i look at your about income in there as you can and muck about i love that number two ok number three yeah there are other cryptocurrency is but nothing at this particular configuration of all the elements that make up the technology just like gold is number seventy nine on the periodic table. you just money don't you don't use you know. plutonium as money for reasons because it doesn't have the physical qualities you would want in money use gold and silver and same thing with these other crypto currency is there out there

but then again with gold you have other silver plating and platinum slimline i know that they're not making new elements every day. but but somebody i know it's essential as what somebody decided hey let's work this thing and let's make good coin gold because and then you have a theory and i'm like a coin and i know biggest in the market right well i know the whole thing is three because three hundred billion dollars one third the size of apple inc inc is a very small market and it was an n.b.c. has a much you know it's big going week this week oh it's. you know everybody has an opinion about because there's been here but a commentator said fifteen trillion money printed yeah there's a bail out banks that are out what value did that money have in physical reality if you were to stick it all into a room and you were to examine it in terms of its intrinsic value but on the printing on the paper goods are we comparing currency with because if king ireland

of worthless junk it's disgusting it's big if you know your just about the pen the defending currencies if you need them to pay taxes and they're backed by the military of the country here's my problem and the biggest problem with crypto currency is this and i'm going to ask you a question as i might i want your opinion on this if the government wanted to shut down to currencies i believe they could do it very easily now and let me explain i know they couldn't shut down the entire network but could they been bitcoin exchanges if they did so which they could do coin base and all these and they could do it very easily liquidity evaporates over night. then they could make it illegal conduct commerce in big point you need an application to use your bitcoin very public application if if i could see it the government can see it so i'm not going to risk fines or imprisonment why is the government and i am not a conspiracy theory person max but why is the government allowing so much rope for

cryptic currencies to hang themselves with i believe the government understands. they were going for another recession slash depression like we've never seen before in the globe and they're going to need to abolish physical currency and they want the public to get used to using digital currencies we're going to get something called the fed coins in the near future which will allow them to impose negative nominal interest rates in the banking system and that's the reason why they're letting this cryptocurrency craze get so out of hand you bring up some great points and you've done i mean done some rating since the last time you were on the show well you know i just starting to thank you. but i'm always up to your no not really to unpack some of the points that you're making first of all i would agree that the exchanges are a point of vulnerability because the on ramp from fee out to crypt these exchanges the exchanges are vulnerable in two ways dumber one that as you point out they could be outlawed in some way or shut down by the government number one number two

we have a lot of banks out there that have been seeking and have been granted various patents and under patent protection and patent law they could claim that these exchanges have to be shut down under intellectual property rights and i know having bans myself in this area how that could happen absolutely the other point in terms of migrating everyone off into digital coin or those digital coins that fed coin would be would be a coin that has a time element to it like either you or your you get money but your money expires like a coupon and that's one way to get people to spend it to get out of doors that have negative interest native interest in right so that's a built into that and then to have an interest in this now what about philosophy for the velocity of money skyrocketing yeah and i were in place it would because you're going to find something like that max max well i agree versal basic income zirp nerve oh oh oh out there minute we got to go can we pick this up at

a certain excitement this is a real cliffhanger oh wow all right there right there. don't go away oh no they gotta go but. for now thank you michael banjo thank you for being on the show this is from the kaiser reporter can catch us on twitter a cause a report and. bio. they are i robot governments can be much more russia and lots more compassionate than the current all the dark human governments that we have i suspect people will be more happy with the new situation then there are with the with the current. about your sudden passing i've only just learnt you worry yourself in taking your

last wrong turn. you're out to us we all knew it would i tell you i'm sorry 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 my life turned on each parent . but then my feeling started to change you talked about war like it was again still some more fun to view those that didn't like to question our arc and i secretly promised to never be like it's sad one does not leave a funeral the same as one enters my mind it's consumed with this one quite different i speak to you now because there are no other takers. claimed that mainstream media has met its maker.

they think eighty one and a very serious science and they're. just a little memorial corner bad i'm putting together it's not finished i'm finished underside i have his medication backing with taking i have this to his cell phone. son's name was eric bana he died he was strangled by a policeman. the scene was filmed and has been seen around the world.

yes cry cry all over again with nothing at all spoiled that's what also. to now look at that video i said oh my god what they take too much. of state to nine and south of new york eric garner is on the right to policeman suspect him of selling cigarettes on the street. among the much justice was told it's all because of the policeman want to arrest him but the situation gets quickly out of hand one of them literally throws himself at terry to handcuff him by force another one strangled him for nearly twenty seconds. was able. to. do this morning after.

i count three eric garner will desperately repeat that eleven times before dying. it was just total brutality what they did to him for no reason for they said for selling the lucy. it's like they have a license to kill and all that stuff strangulation is prohibited by the new york police yet the agents will not be sued this incident shocks viewers across the world all the men so that these cases of brutality and excesses by the police happen every week in the united states film blunders that cost light on violent abuses and the victims are on most always black people. and. last november in cleveland up next time your

rice a twelve year old child is playing with a plastic gun when a police car racing by stops a brute see and the officer almost instantly shoots the child. fell. off like. beginning of april in oklahoma eric harris is chased by policeman after they tackled him down. they fired put it into his back. pocket. the agent said he mistook his weapon with his taser the man is dying but the policeman doesn't seem to be both the. two days later in charleston south walter scott is arrested for a broken taillight he escapes. eight

bullets in the back once again the victim is not tom and. once again a white policeman shouts a black man. most crimes in the united states are committed by white people yet black people have much greater risk of dying shot by the police . if a louis for example. you have a higher chance as a young black man to be killed by police being killed in a car accident in two thousand and fourteen the american police killed a hundred unarmed blacks that has to play week the fact that americans have come to realize it hit them suddenly today was supposed to be michael brown's first day of college but over the weekend he was shot and killed by a police officer he was unarmed. two thousand and fourteen one death too many the death of young student michael brown in ferguson machinery the black community who cries out for days.

eight months later the cameras a turn to the other riots in baltimore where once again an afro-american died during his arrest by the police. faced with these events a part of america wakes citizens take to the streets. they point out the injustice and want to put an end to impunity for the offending policeman. they're crying foul to the sad reality of america today a country where police trained in the culture of violence kill black citizens every week for no reason. may have been shot and if their animals and it's open season people who walk on the streets of the united states are at risk from the very people who are supposed to protect our

drop the ball. and her alive in order that sometimes you might have to hurt someone else. pittsburgh pennsylvania six hundred kilometers from new york. city of three hundred thousand inhabitants with a long history of police violence. we

asked offices if we could follow them during a patch. and we quickly understood that any consultant gets out of hand. lance and lou coming. in an unmarked. east of the city in zone five. this is the district with the highest numbers of police violence in the past is it is an afro-american neighborhood a dangerous area the office is a nervous. it's a casino fairly robust. think you're going to get but.

the police are looking for weapons so they scrutinize every move of pastas by they do not hesitate to check their pockets and belts. everyone is under suspicion. a few minutes later we follow another police car that is about to control a red vehicle for speeding. you know here they're. pretty good. at passenger comes out. when the policeman said they see here in another passenger please. before we had time to get out and fill. it yet again.

the policeman hidden by the great car has already taken his weapon. the red vehicle escapes the chase begins. with. oh no look very much. after a minute chase the vehicle is found in. the woods. the passengers have old vanished. and he just.