a national day of mourning has seen crowds across russia one of the victims of last sunday's camera of a fire which killed sixty four people including forty one children in all the first funerals have also been held. but if you would if we wish to be able to go with me to. you you couldn't post due to the wish. you could be doing if we're going to. the u.k. releases a new national security strategy placing moscow alongside islamic terror on its list of threats. and wiki leaks founder julian assange has internet access and visiting rights suspended by the ecuadorian embassy longer which is threatened further murderess. com has more on those and other news stories

because reporters next on r.t. international while in the u.k. and ireland it's been a bust. oh i max kaiser this is the guy's report you know what's amazing somebody came up to me at the crypto conference here in puerto rico. this guy created. and handed me a chain and said thanks so much for supporting the economy and it's a very rare pep a. token and has to be more about this coming up in new york in a few short weeks the birch cited by the stay tuned for that let me stick to puerto rico for a second stacey what's happening what is your name weaponize that's the thing all names are weaponized and the battle of the mind as brought tears told me we are

constantly fighting the demons in our mind that we are the heroes of our time i think there's a famous song. that brock likes to play very well at a breakfast i want to talk about debt as you know puerto rico had the seventy billion dollars of debt when they first went bankrupt and defaulted on their general obligation bond payment of two billion dollars on july first twenty sixteen than the hurricane maria heads and right before that and they have about ninety five billion dollars worth of damage on the island so a lot of debt a lot of debt and people in america you know as congress debates whether or not to help the people of puerto rico out as they would any other u.s. citizen like those in texas hit by hurricane harvey or those in new orleans hit by hurricane katrina you know there's usually more funds forthcoming to help americans

develop and get better so i want to look at the u.s. debt situation oh those people who point their fingers to us gross national debt. spike's one point two surely in dollars in six months hits twenty one trillion dollars max twenty one trillion dollars. yeah well you know the g.d.p. of america is not anywhere near twenty one trillion dollars you've got a country now where the debt is well above g.d.p. it's as a function the assets on the books of the central bank four or five times bigger than the central bank it's way out of control the other way they can manage just to keep interest rates artificially low and of course that creates the wealth an income gap that results in san francisco where you've got billionaires and it's our first home most people shooting up smack on the streets that's a direct result of the federal reserve bank policies to keep insolvent banks zombie

banks like j.p. morgan goldman sachs from having to declare bankruptcy and result in social unrest results in all kinds of matter of destitution think central banks you pots if the crypto billionaires if the crypto economy if all those young guys like china think and solace from the last episode. they make this the sort of switzerland of the crypto global economy it could be that puerto rico one day is i have to bail out the federal government might be the other way around well you know when i talk to people in the crypt community like jamieson a lot for example has been on our show a few times or proctor who's really visionary and ingenious you know they say that eventually the federal government will come to the crypto community for a bailout because the crypto community will have the only hard assets that you can move around with any kind of speed and regularity so this brief respite on the crypto market cap down from eight hundred something billion to three hundred billion is one that will be taken to

a new high of multi trillion dollars and the sell off of two thousand and eighteen will not be visible on the long term chart just like the previous sixty to seventy percent. visible on the long chart it does give. of a showcase for charlatans like nouriel roubini or paul krugman. establishment lackeys who like to espouse propaganda on behalf of their overlords on wall street sure but those people need to be ignored john oliver over there. john oliver show. in a way that would not be allowed by law to be in the u.k. so john oliver like piers morgan back up is back to go back to the devil's island over there in the north atlantic and leave us free speech loving folks that are building the products of the economy that he himself and his countrymen end up

benefiting from. and lead and i want to also go back to this step because remember i said that the original that definitely related and cause. puerto rico to default on the general obligation bond payment was seventy billion dollars well the u.s. gross national debt one day last week one day spiked by seventy two point eight billion so that what it means to have the ability to just print money and just like. on your own. ledger to create seventy two point eight billion and new debt and to be outside a system whereby it's not a fringe permission on the ledger for all to participate equally here the united states government the treasury has a permission ledger that only they can control and they get to create as much money as you want but you outside it in puerto rico you have to basically suffer you have

to have a therapy you have to do whatever in order to even be let allow you to economically exist if you want to understand. just. overlay them one is the u.s. dollar one is the big prize as the u.s. dollar has moments of strength in the otherwise long multi decade bear market. pressure on bitcoin as dollars do this bear market and it's do all time lows on the dollar index below seventy you'll see going to a new all time high but the dollar is the devil's currency the dollar is the currency going to support the establishment that supports the charlatan and you know it does have a strong day but the trend is to zero i noticed a lot of people on you tube really liked my quote about the lion fish being the predator the clinton the predator that the u.s. dollar in this post. world post gold standard world of one hundred seventy one but

they had no predator there's no competition to discuss or tweet a little bit more about the line because it has been read multiple times going viral. and comparison to the lines. braced by this community globally saying that the line when it was an asian stores and. an ecosystem that was balanced and overpopulate and now it got into the lunatic and out of the predators and it's become ubiquitous and uncontrollable so you're going really have no predatory no really mangled lionfish i think it's a lion fish we sometimes call it the tiger. the lion fish has loads of predators in harmony with the economy in the sea and oceans of asia pacific and then somebody dumped one into the. ocean off of like pensacola and now it's

exploded in population because they have no known predators there but now it's like consuming all so they're able to gobble gobble gobble gobble and they dominate they are the emperors of the sea there. because there's nobody who can compete with them and it's made a toxic environment because of that just like our global economy we have a toxic global economy because of the monetary system that in the lao competitors now bitcoin has stored that is a predator that is now been introduced into the monetary system big coin is the apex predator now they're in there and you've got to you know you've got to shape up you've got to start acting better if you're going to be a central bank competing with this new monetary system could agree more great analogy and people are gravitating toward it and i think it makes a lot of sense so you know the united states record amount of new debt added in

boom times theoretically boom times and yet the government is issuing record amounts of debt so who do they owe most of the debt to china so i want to look at in these last four minutes here at the future of what the chinese run more pull economic powerhouse might do about their bad debt or because of course here puerto rico where the bad debtors to the u.s. mainland now u.s. is bad debt or to china china will ban people with poor social credit from planes and trains starting in may tiny citizens who ranked low on the country's burgeoning social credit system will be in danger of being banned from buying plane or train tickets for up to a year according to statements recently released by the country's national development a reform commission with the social credit system the chinese government rate so this is based on things like criminal behavior and financial misty but also what they say in do those with low scores have restrictions but if you're bad debt or if

you have a lot of debt and you haven't made enough payments. you are you get bad social credit so. if you apply that and i do you economic level what is that going to. looks like it's going to look pretty bad in other words like. there's a rating that's generated not by fellow users but by the government and everyone in the country is given a rating by the government and if you do something that government like question the government your rating goes down if you lionize the government and salute the government and genuflect before the all knowing glorious government you get a social ratings boost and this is very thing in china because on the way up during the capitalist boom there were all adam smith and free markets but now that the debts become burdensome and their economy is shrinking it's back to maui aluminite a few million you know you gotta be capitalist all the way you just can't be a capitalist all the way up and slaughtering folks on the way down to. boast about

it but while they were building manufacturing plants in order to feed american consumers it was all great but now that americans owe them four trillion dollars let's see how they are because again i'm going to turn to a story how they treat their own citizens previously the chinese government had focused on restricting the travel of people with massive amounts of debt like. farraday future founder g.r.u. tang who made the supreme people for blacklist late last year the system as it stands is opaque citizens are seemingly just as likely to be flagged for minor infractions like leaving bikes parked on the footpath or issuing apologies that are deemed insincere as a major credit default it's like china doesn't understand entrepreneurial ism because a lot of people get into debt because they start a company and it doesn't work and so those people need to be encouraged to try again because they are risk takers what matt was saying i mean china is that we don't want risk takers we want p.d.f.

authoritarian loving bootlickers and that's not the way to build an economy so you're telling me that shrinking because you're too far into debt is not going to go into freefall because you don't understand what it takes to be an entrepreneur here in puerto rico they're saying you know what we've got enough. american kind of spirit here because we're close to the fricken silicon valley in new york and money center banks that we understand that you encourage on federalism and failure is not the negative stigma that you think it is it's the beginning of an entrepreneurial career to build an economy that's why this place is going to see g.d.p. in puerto rico is going to eclipse china well in ten years because here they're not afraid to be our friend or i can't play i've ever had an egg roll i can't stand anyway and after that let's take a break and cool down a little bit and come back in the second half and see if we can make sense of this all don't go away.

russia has gone from the hollies approaches zero zero sum to the use of grief of the camera for the tragedy to the third largest expulsion of russian diplomats from the west and putin's links to his own to iraq he starts how will he win. the war zone you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles. that you saw spreading tell you that will be gossip and probably for. advertising tell you. right here. all the hawks that we along the border will want.

but going back to the guys report imax guys are time now to go to harry dead author and i guess you could say futurist for the most well respected names and transformed casting harry welcome great to have you know great to be here been following your work for quite a number of years and you've been the author of some really great box best selling author the latest book well talk about what you are presentation want to see here in puerto rico but i want to talk a little bit about your latest book zero hour and going to give us an overview of what the what's what that's about yeah i mean you know we continue to talk about this financial crisis that is you know is inevitable governments are trying to push it off with quantitative easing and fake policies and i think it's going to come to head the next three years so that's number one looked out if you think two thousand and eight two thousand and nine was bad this is going to be worse because the government's obstructs the stock market up anyway it's like that because you know that two thousand and prices set and we had an extraordinary actions by the federal

reserve bank tim geithner came in they came in with tarp and they came in with a bailout and they came in with an extraordinary basically just filled with top back up with water and where do they get up out of thin air you can't create growth in productivity and well by printing money out of thin air but that's what they're doing it's a temporary measure and now we're living on quantitative easing i mean if it be one thing if they did come up with a million you know a trillion dollars when the first crash happened and then stop just to make sure the banking system didn't totally fall down but to constantly have the system perverted by free money negative and zero interest rates of perverts the system we're just getting all this money is going into speculation not going to mean get out and come out of so-called banana republics you know you. talked about it's failed economies and they say you know i think out of that debt monetization they're buying back their own debt and that's of course that's always a recipe for disaster and it is not quantitative easing the only difference between debt monetization of quantitative easing is that quantitative. think reportedly for

what they tell us as an expiration date but that expiration date never comes so isn't this just debt monetization it is governments are issuing unpleasant amounts of debt and how are they doing that they're buying their own debt since the markets would never take at all and they're pushing the interest rate down the design adjusted for inflation and sometimes negative so so they're making it affordable for them to float all this debt by artificial means now it gets worse than that corporations are the only net buyers of stocks not no financial institutions not retail investors or foreign investment companies are the only net buyers out there buying their own stock they're issuing stock they're buying them back to to leverage the earnings per share in a slow growth economy g.d.p. has grown thirty eight percent in the last nine years of the boom and yet stocks have gone up three hundred thirty one percent a illegal to buy a back on stock it should all of that should be exactly in the central banks are also buying stocks right now japan their financial the yen japan's running out of

bonds a bunch of their mind their stock market and corporate bond soon i mean this is crazy this is their risk and you follow the cycle of the new follow eighty year cycle and hundred cycles you know let's talk about a multi hundred euro cycle called feudalism is it possible that these banks central banks will buy back all the equity with the zero percent money to the point where you've got all of you all of darks with everything and a bunch a service that are with nothing what do you think about this life area now you're out there and the economy likes to rebalance it likes to deal leverage with had the greatest debt bubble in history of i can compare it to the one of the roaring twenty's because there's so much bigger debt causes financial asset bubbles asset bubbles have to burst i mean real estate is getting so an affordable that of the people in hong kong living in sixty six square foot closet apartments that's crazy so so it's bad for the kind that connally likes to rebalance governments did not let that happen when it crashed into. they deny that was the great depression that

our economies like to rebalance that is the way capitalism natural so you eat out the losers eat out the loon and you have a business cycle and it's painful so bye bye repudiate the business cycle by artificially keeping it going beyond its lifespan year of you is now or set up for a bigger problem a crash bigger than two thousand and eight and it's coming pretty quickly areas that you thought yeah i think they're running out of stimulus an ammunition and the final thing has been just tax cuts and some this is more something for nothing corporate profits are the highest they've been in all of this be compared to a.d.p. and he's giving them a tax tract what he learned on wall street now he's rolled back a lot of the reforms ok some in the political arena would say this is what's needed because the banks are being constrained others would say well you know one thing i really glass steagall and they got rid of some of the other regulations that just gave them fuel so in gauging a lot of predatory behavior how do you weigh in on this i have bill clinton

repealed this it was set in place after the great depression to prevent it from happening again and then in the ninety's politicians i know we don't need this and a court of law that's exactly when we need it is soon as they knocked out we've got this great bubble the tech bubble now we've had bubble after bubble bubble how many bubbles can you have bubbles only do one thing in history believe me i've studied them everyone they burst and they don't correct they go down ninety plus percent they don't go down even fifty or sixty they were going to the biggest bubble burst in history ok well here's a here's a question for you we're both attending a conference there for america and if the market has had a kid show a correction i think is the nicest thing you could say about it in twenty eight tame. a market historian you follow trends in cycles i've given let's say you're not a crypto expert or say but what does this smell like what does your instincts tell you where are we in this cycle with crypto harry. this looks exactly like the

internet bubble the internet bubble was only one year at the end of the tech bubble from ninety five to two thousand came in the last year it was much greater there was one update to ten times in a little over a year and then it crashed ninety three percent not sixty not seventy ninety three percent but that shook them to sue the solid companies and those companies turned around and end up creating the greatest boom in technology in history called the internet and amazon went dropped five fifty from one hundred thirteen and now it's at sixteen hundred dollars so so to me this is the beginning of a technology revolution blocked change it's real i don't know about most of the coins but that is real and that the internet has gone as far as it can go in communication stuff we can't handle financial transactions and things of value so that we need an internet two point zero on that block chain and it's just emerging but it's going to be volatile and is going to be more the shakeout and then you're going to get down to the real company and that's that's the only way nature knows

how to have a little lot of thousand flowers bloom and then pull out the rug and see who's still standing in a nation where the essential banks are because of it no bailouts and so your work you know i heard a presentation and you really focused on cycles and i guess you're like a connoisseur of cycles site when i was listening to it speak today like i found a cycle recently is the cycle and i talking about the price a cucumber is a nine hundred forty seven versus their i do replacing tires of one thousand nine hundred three and they were the price isn't demographics so that's what drives your work but well i was always a cycle guy i just happened to trip on demographics in the early eighties just before this massive baby boom wait i said look at that holy smoke people have no idea it was about to hit our economy this generation of massive and they're going to cause the greatest boom in history and so i came up with demographic cycles but i i wasn't a demographic expert at the time i became one because i realized this is important it is the most important cycle technology cycles are important again that's why

this ice. block change is like the internet on an eighteen year lag that's the way i see it is the belting the same way we're in the early stage and it's going to have to settle down and then it will be along with will be a big boom and now cycles of course are predictable and so they're not and that you had an event in twenty eleven nine eleven which really gave kind of throw everything upside down and a lot of ways that better reserve bank dropped interest rates correct matic play and trying to restart the economy and how did that factor in because if you could call it a black swan ok which is a term from another author i hate the word black swan ok let's this is all right tell us there are black swan happens when you don't understand the cycle and what the way my work goes i started with demographics very powerful cycles nobody's ever done that and i come out and then that nine eleven hit in a change the stock market the stock market was only going up as much and that's what happens in geopolitical cycles when the world gets risky the risk premium

brings down stock valuations so i added that cycle and then later i out of the technology cycle and finally i added a boom bust cycle around sunspots of all things going to very good cycle right sunspots it sounds a bit arcane ok i got a lot of light and bad and if it works it works right works and eighty eight percent of recessions happen in down sun's was eleven out of eleven major financial crisis in the down cycle there's no way that's what police also say at the top of your presentation that human nature is never going to change it can't fight may chair and when governments are trying to do which is down is not to do it right before the french revolution there's a huge volcano i believe in iceland which caused the price of bread to go up because the difficulty growing the waits in france and when the bread got to a certain price it triggered a revelation the links are there but you have to be disciplined to find them and

say your work is. have a discipline to find that what's the biggest risk for you what's the biggest challenge you have because here you know we have about a minute you know a better nap. or what do you what do you constantly battling as a as an analyst what's your biggest risk that you have a real question about it is this quantitative easing the central banks have hijacked the free market system which are natural forces that's what i studied i studied that know that better than anybody in the world but now they take over and what demographics doesn't matter as much when they're just constantly pumping money in and then people are constantly speculating and do all this stuff and negative interest rates and zero interest rates my models don't work as good so and so but but the way our discipline works every time something happens that i don't anticipate with my present model i know i've got to come up with a new cycle or a new model for really how do i incorporate this quantitative easing because this is never been done before where you just literally supply the natural cycle i mean

like mario drugs in the kitchen sink i will point is much money to take that's insanity but they're doing it right to make it sounded on that front finally now you live in frederick out you know and you're not part of the way of the economy and what that that john paulson to that peter schiff coming up at a race that like you've been here for twenty years twenty five years while i've been coming here coming when the eight years i've been living here for about two so i was kind of part of that way but but i think i came here because i discovered clever and did those two beautiful islands off here and i bought a big wad in the clip right now at the event you've met jimmy unity and they're very excited to be here they think this could be a hot spot for innovation of quite a breakout a farce that's going to be challenges how do you rate the prospects for that happening for our trip out and pick going to puerto rico to puerto rico became a hot spot i think is perfect because it's a way to have a test case you know that this country small enough and then they come in the industry still an example where you can really prove the concept out you know like

play it like. so they want to buy up land and up a crypto city you know i think that's a great idea if they can pull it off because you are stuck it is on a country it's a i have the territory of a bigger country kind of a country town and. it's that is that politically it's like i think i've overcome those challenges are well again and you know the government welcomes this i think he they need a shot myanmar and the farming industry was the old one now that's gone on the toxins and so so they need this and going to support it my only question ok because i mean demographics are poor repos lost fifteen percent of the population is hidden towards twenty percent can they survive that demographic hit and do these people come back because that's a big demographic because i've only survived especially up to this burgeoning oliva on that cliffhanger sorry dan thanks so much for being on the continent what i was going to do with this edition of the kaiser report with the bass guys are as they say ever like i asked harry dead authors latest book it's called zero hour if you

want to catch us on twitter it's kaiser report of the likes of by l. . it's the cradle of jazz. this is america. we have. to close this jazz feel. the city of climatic catastrophe alligators on the loose those poverty and crime are used by the at least twelve members of my close most. of street racing in that piece of the night this is new orleans. the best place in the world.

plan of welcome to worlds apart in less than two weeks russia went from the highest of border enthusiasm rich solve logic of which in a locked up for another term to the loss of grief and rage over the camera tragedy we sacrificed all of our four dozen children to battle the giants and corruption to guide the largest expulsion of russian diplomats from the west to the spread of a major military confrontation over syria and what ima put in its next term is off

to a rocky start what is it likely to bring well to discuss that i'm now joined by you beginning mentioned prominent political consultant here in russia as i mentioned it's good to talk to i thank you very much for your time thank you now our input owns long stay in power russia has experience and number of large scale tragedies some of them run to manage so well for example the course the disaster it was general perceived as a communication failure on put inside that there was trying to do which was used as a starting point point for a major administrator for reform i wonder how do you think the camera tragedy is going to be remembered is it likely to prompt any policy changes there is norm. specific on sequences which could be resumed after this tragedy. and to seem to just stick communication stuff these should be was shown to.