our g.d.p. is thirteen trillion ok so to be clear this is talking about the deficit yet not the debt the debt which includes unfunded liabilities that i made reference to is many more chilling to dollars than we are led to believe yes this is attacking the deficit what you're saying the deficit is many more choices of dollars more than we're being told the deficit is your annual budget how much you go over your annual budget at the end of the year if the year has ended and a new year starts so you put the four point seven trillion or there in this case nine chile on top of the debt the national debt so that goes back on to that pile that keeps on going higher and higher in terms of the unfunded liabilities and total the national debt what they say is that is one hundred or one trillion at september twenty seven teen less fifty four point two trillion when calculated on the same basis at the end of twenty seven so that debt the deficit is rising the debt national debt is rising rising rising right and

a candle in other and the payment of the even of these low rates is hundreds of billions of dollars in escalating incredibly anyway we gotta go to a break don't go away stay right there. the city of luxury and free. an alarming number of people living in the streets. simple fact in l.a. he's just not a shelter even if people on the streets right now decided to come in there's no where to come in it's been a struggle. this man phoned his own response to the problem and constructed dozens of tiny homes for people in need of shelter when you have nothing in order to go. you know having something like this may as well be a castle but do the authorities accept such to lucian. tiny house on

a city parking space is not a solution your craft to have someone monitoring the site otherwise it will be a free for all is there a better alternative to end the homelessness crisis. most definitely wasn't a victim of any kind of a federation or at that from the russian side because it was both really destroyed the russian could be beauty as far as exchanges are concerned and they are dependent on it because they certainly have to get their people back if they get into trouble. i've been saying the numbers mean something they matter to us is over twenty trillion dollars in debt more than ten white collar crimes happen each dish. eighty five percent of global wealth you longs to be culled from rich eight point six

percent market saw thirty percent from its last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers overwhelm. the only numbers you need to remember is one one just shows you can't afford to miss the one and only. you never know what's around the corner you never know what's in the pub even to walk into a nice fat excitement is that now and that's where the adrenalin rush comes from. and you get is a nice definition and the extremes will support. violence is

a part of an exhibit almost a schizophrenia gang culture where you can do all these things and behave badly. we'll you're going to be full of hospital for a little while for the political skills more social those are going to last. but this may end in therms little money roll and get done for less than they thought. i would roll or when the fire broke out i really did a poll down down went up a little get. the meaning in these means that at least if you don't win the involves it's come from the involvement. welcome back to the guy as a reporter i'm ask either time now to turn to misfire stein he's the author of the internationally acclaimed planet ponzi now available in. various languages mitch

welcome back hey great to be here why did you bring your pen around this time this one the one that breaks you know that's a very expensive pen and how many of these of my broken so far michel lives is so tough to come on this show i think thinks that it's great you know credit month blank is fantastic show the people your shoelaces. before the end of the show them that let's go to the summit interesting topics or mistrust on the federal reserve balance sheet. you know because this explains everything you are the man of the charts you really you brought some charts what's happening we've got some charts today yes the first one were to look at is if the federal reserve's five trillion nearly five trillion dollar balance sheet this explains how we've got the most grotesque asset bubbles in history so the fed just keep printing money and that's why markets keep levitating and we've seen the most grotesque bubbles in bonds stocks property and credit markets that you know in

history around the world and the other central banks like the bank of japan european central bank and the bank of england have jumped on the money printing bandwagon to jump in for a second because you talk about asset bubbles but it also leads to mal investment because there's no accountability if some industries know that every mistake is met with more free money and thinking about the military and the defense contractors who do very well by just bombing people with no accountability then i go to congress then i go to parliament they don't ask to bomb people they just bomb people because they know that there's no end to the money there's no accountability and there and at the central banks in a large way is that a fair statement you know well i mean look at some of the military industrial complex characters like boeing and lockheed martin there are. couple of them that are almost two thousand percent since the war on terror but the war on what is the war on terror really it seems to more like it's a war on democracy and look i mentioned this on the show a long time ago first what you have is

a currency war which we had nine eight or nine years ago we're still seeing currency wars currency wars lead to trade wars and trade wars lead ultimately to hot wars now the war on democracy i mean this is propaganda squared i mean you can't believe anything that's in the traditional media anymore c.n.n. for example you know own c.n.n. turkey which is a propaganda network c.n.n. america's not much better in terms of propaganda but we never say the u.k. the u.k. think about the propaganda b.b.c. and think about what to reason may and boris the liar johnson have done to bring a war into syria and the events in cells bury where they said oh the russians did it after five hours and then of course assad bombed people you don't need evidence anymore to start a war they don't go to parliament they don't need the people who say it's ok if they want war war it is in the military duster a complex makes money and we lose the taxpayers lose ok and to keep this in the

frame of the kind of my perspective that i'm trying to put across here is that a lot of it can be accounted for by having an economy that has no accountability and that not accountability and mound that's when it goes back to the central bank because there's a natural bank is not healing to any known standards of accounting that would require for example tying at tying what they did with gold for example as they have done in the past they simply print with reckless abandon there's a new guy in charge or own powell at the fed took over for janet yellen what's the story with him now well i mean he is janet yellen except you know he's just wearing a different mask so he's the bernanke yellen they've just shifted the baton let me just i guess. jump in we're talking about central banks now russia you mentioned russia they have a central bank from elvira is a first time i remember a last name i love the first time how would you contrast these two central bankers

because a lot of people like james records for example says that there's such a bank going to leave the russian central bank is the best the world why does he say that well i think you know if you look at the economies you can't compare the united states economy to russia's economy and you know you have to identify you have to analyze and identify what are you know the global threats and what are not global threats and if you look at what's the economy in russia it's under two trillion dollars in real terms united states economies around seventeen trillion to one thousand trillion depending upon what numbers you look at it's miniscule but the united states has debt to the magnitude of around two hundred fifty trillion dollars when you include all the social welfare and total net programs like social security medicare was the bomb and al you have america it's negative what's the book value of bankrupt what's the book value of russia there's no there's no real debt positive russia has a positive book value america as a negative book is value what i'm getting at there's not really a lot of debt which is really significant in the in the global scheme of things so

if you disrupt the global narrative which is what we have going on right now globalism is a big narrative if you look at what happened you know going back digressing a bit to the central banks of the central banks supporting the zombie institutions with low interest rates so you've got a bunch of companies that should have gone bankrupt tesla is a perfect example that lives off of government sector subsidies and the fat of the land if you didn't have a zero percent interest rates in the european central bank meddling in the corporate bond markets and the swiss national bank buying equities you wouldn't have support like this but then you've got you've got other you know narratives in the background that are running to try to run globalism have the military industrial complex and the characters of the deep sea. they are pushing propaganda out to everybody who will believe it is all about the dams in the system you know you put up a dam it cross a river and the water goes over that dam and it produces hydroelectric power. the

reason i mention that is by way of analogy to get to my next point and chart which is money velocity here's a dam in the works of foot global finance that's not producing any energy is producing kind of like constipation in many ways my evil us today we've talked about it before it's still trending lower despite all of this money printing walk us through it right well this is this is this illustrates that or in an environment we're eventually will have hyperinflation and it will not be controllable by the central banks who think they know everything and this is going to catch a lot of people off but look you can never pick as i've said before at the top of a bubble but i can tell you we're definitely in a ball war right now and you know in every market if you look at the chart on the velocity of money you'll see that it's crashed to low levels not even seen in one nine hundred fifty nine yet the governments keep telling us that we're in economic recovery so it's a fake economic recovery the narrative is a total lie and most of the people watching the show will realize that things

haven't gotten better economically and there is lots of asset inflation so if you take for example the prices of tuition up two thousand percent from the one nine hundred eighty s. but your real wages when you inflation adjuster stagnant so how do you explain that or square the circle ok let's say the small to medium enterprises that are the lifeblood of any economy they can't get loans from banks but if i walk into a big money center bank that's getting his money from the central bank and i need a billion or two billion to buy a multi-billion dollar property on central park south they'll say sure they'll give it to me well because in other words it's crony capitalism writ large and what we have here is a situation where the money isn't. flowing to the economy to support small to medium enterprises because the banks simply don't want to take any risk whatsoever they hoard the money they participate themselves in these loans as merchant banks you know they've all become merchant banks they're all becoming equity holders in

the money that they're lending you know out to capitalize on the inflation of the assets that they hold in their own balance sheets which then pump the stock prices higher which pumps the option prices higher which pumps the compensation for guys like jamie dimon lloyd blankfein higher so they by putting attorney get on the economy by stopping the economic flow by dropping money. velocity does their oh they have inflated their net worth in the story quite right they have but i mean what's worse with that problem and what the government should be doing is they shouldn't be playing paying banks interest the federal reserve shouldn't be paying excessive reserve interest and they should receive retool that entire corrupt system where the banks make money by holding excess reserves that are from money printing so and to get it to be clear that not only is the banks cost of borrowing zero exactly it's. creative pay to borrow money for the banks borrow money from

the central bank and then they put it on deposit at the central bank so the more they borrow them or they make so there were the risk reward and the whole idea of capitalism of taking a rest for we were is inverted here you're saying that the more risk we take the more. rewards we make without any penalty whatsoever well if you look at what we had we did a program with gregg's it for example when they had bragged that you remember what the fear mongers were saying theresa may was one of them saying it would be the end of the world markets would crash sterling would go to zero look sterling is right back at one forty four where we were when bragg's it began yet the stock markets twenty percent higher and today it was announced in the u.k. that they had record low unemployment not seen since since one thousand nine hundred seventy one so can you believe that is that credible is any of it credible absolutely not so you know that the situation the production situation hasn't improved that house house prices have skyrocketed there and to double territory

everywhere in real wages haven't gone up so what's happened the banks lend money as you said to real estate property developers at ridiculous low rates but they take a piece of the action and as these apartments get build built three years later down the road they're not going to sell any of them and the special purpose of vehicles that they developed are all going to go bust but this time there's going to be no will to bell them out and that's going to happen in the united states as well as in. united kingdom right the real wages as you say not move whatsoever so if you get to a gig economy job and you're delivering a bicycle full of food at a minimum wage and you're out there and dodging traffic for it before you get it and end up in the n.h.s. i mean they count that as job a job growth however when you add back all the variables into this equation you end up with the average wages that dating are depreciating but the numbers on the top line are being showcased as being proof of recovery and yet there is no proof of

recovery ok so let's talk about the shiller national home price index tell us about that what's going on you've got a chart right we've got a chart here that explains house prices from one thousand nine hundred seven to two thousand and eighteen and basically we leave if you look at the increase in prices you know ben bernanke he said that subprime was not a problem don't worry it's all under control and then you saw prices i guess two thousand and six start to peak out and then dropped down quite a bit all right i want to jump in because i want to cover to think rental prices in new york city are tumbling what's your quick take on that well i mean there's too much supply not enough demand high paying jobs of course they're going to keep keep collapsing as i've said you're trying continuing to down thirteen percent already yeah i think i think real estate prices property values can drop up to eighty percent or even what eighty percent really tokyo only one hundred that's exactly right that's like good minutes prices and all right let's move on to thirty seconds gold gold gold is the only chart that we have that is not an asset bubble and

prices are realistic on gold and will keep going higher so physical gold is really a place that everybody should look to hide out oh ok well you heard it here first eighty percent drop in property prices a tokyo asked collapse in manhattan is coming and author of plan a ponzi the internationally acclaimed tone that is translated into over two languages and that's going to do it for this edition. let's show you should come on this show should take a look at this go to this ship leave the ship and look let us look at this this is where your money manager famous in new york that's the kind of show you where ok get that much. you can find us on twitter a cause a report until next time by. in

july twenty seventh and i'll set up a freelance journalist working with on. militant shelling in syria. so i want to sacrifice quality has established a holiday on such a memorial they will recognize war reporters who often risk their lives for the sake of the truth comes through them to please you can submit to your published works in a video form britain form go to a war on t.v. don't come into us now. from our studios and we have to be a person that to plant the seeds in november for sale to your body and so the dog.

in these we want to. go fast by itself i can. feel being pretty. powerful. i want to stop jumping to see heidi fleiss. you don't find me you sound so female to ballet speak your own fault with says she's. i. i. i.

i i don't know what. i really want i don't know. the un backed chemical weapons watchdog. visits one of the sites of the alleged chemical attack in syria. amid concerns the mission's attempting to limit the number of interviewed witnesses. also. stopping all of its nuclear missile tests something washington says to us. says it's because nuclear reservation is now complete. u.s. money and equipment the lebanese. hezbollah which washington regards as a terror of.

their welcome to live with me daniel hawkins thanks for joining us today and we begin the hour with breaking news heavy gunfire just outside the royal palace in the capital of saudi arabia that's according to claims on social media unverified of course as of yet multiple videos online no reliable information on what exactly has happened yet no reports in local media either clearly a developing situation lots of unknowns yet we'll keep you posted on any updates from the kingdom. other un back to chemical watchdog the o.p.c. w. has announced that its fact finding mission has visited one of the sites of the alleged chemical attack in the city of duma to collect samples they'll be sent to a laboratory in the netherlands and other labs as well the findings will be sent to members of the chemical weapons convention while the p.c.

w.-i that it will consider future steps including more visit the russian foreign ministry as expressed concerns over alleged attempts by the organization's experts to limit the amount of visited sites and interviewed witnesses. last week unconfirmed reports of the incident were used as a justification by the u.s. u.k. and france to launch missiles against syria the u.n. special envoy for the country has said peace efforts have to be relaunched following the u.s. led attack we never expected it to be. in very very good thing shal danger of it do peace insecurity is what happened last week. and it's not a lot of time now for cheap in geneva. the u.s. the u.k. and france have not only imagine salute to syria but also. i mean while the u.n. security council's gathered for an informal meeting in

a secluded farmhouse in southern sweden secretary general antonio gutierrez again stressed they could be no military solution to the conflict he admitted there was still a long way to go to bring members of the council together on the issue. although no categorical evidence of chemical weapons being used has been put forward the acid government's been accused of gassing civilians even before the watchdog could start its probe the u.s. u.k. and france launched strikes largely on the basis of social media reports. the order to launch their attacks based on the lack of evidence or you know they were there allegations i'm a big concern o.p.c.

dubey have not spoken to all the witnesses apparently they have been there today in the taken samples which they are going to ship back to their their laboratories across europe and maybe further afield. but the important the important point to make here is that the attacks were launched to the investigation even prior to the o.p.c. to the fact finding team arriving in the country they were assembled in beirut on friday didn't actually get syria all of them until saturday by which time the missiles the cruise missiles a lot is struck the west has called the missile strikes a humanitarian intervention here's a different take though from the artes polly. after allegations of a chemical attack syrians were immediately reassured because in case you missed it heavily armed westerners will play a role in that way with a humanitarian intervention said. missiles from france britain and the us are like no other because they combine high tech killing power

with good intention there are plenty of other countries involved in the syrian cluster but it's only the really nice ones doing it for humanitarian purposes the idea saxons on the poles all traditionalist self to roll when it comes to weapons they think the conventional kind they've tried the chemical was on the biological arms and you pay a lot and well who won world war two korea vietnam iraq one on their own to do so when they tell you they'd really rather you didn't use them they are all truth even from experience say the message to death put some terrorists and six inventions and weapons on the possible buying it from western homs deal is because that way you can fly of them safely from the moral high ground these three amigos dumped them friday for a into syria i think humanitarian intervention they live by it millions of dollars

worth of humanitarian aid into the country store to shout a missile humanely into leading out and million bucks apiece while every total christmas sell represents a one off a million dollar aid package old extremely efficient in getting help to the people who really need to look at the syria mission and really achieve apart from going up a few empty buildings where everyone has been told to take them myself anyway for leaders under the car in washington london and paris this kind of p.r. is the ball such a case striking a lesson into an area makes for a much better headline then storm. greg zen. is getting a release thing of their. mission. and other headlines north korea says it's stopping its nuclear missile tests with immediate effect leader kim jong il would maybe announcement at a party meeting that's according to the state news agency with the details here.

now that nuclear ization is complete and verified circumstances we do not need any further nuclear tests medium long range intercontinental missile tests the north korean leader made that surprise announcement early on saturday morning and it came with a promise that will never use the nuclear weapons they already have except in the event of a nuclear threat it was also claimed that previous tests have allowed them to successfully militarize warheads and develop the means of delivery likely in light of that fact japan had a skeptical reaction to the news with the japanese prime minister promising to keep a close watch moscow which has long been working for a diplomatic solution to the crisis pointed out that this is just the beginning of a long process and other powers will need to be ready to make concessions as well. we are glad to note that the situation on the peninsula is the other thing in a positive direction in line with the road proposed by russia and china for resolution of the korean issue through stages assume

a mutual freeze on military activity in the region as well as setting up direct contacts between north korea the us and south korea followed by multilateral talks aimed at a comprehensive resolution of all issues on the korean peninsula including the nuclear issue the north longtime ally china stressed its continued role in the resolving the conflict while expressing hope that pierre and yang will continue on the path to peace through dialogue with the international community which is something that planning vowed to make a priority just the day before we saw direct phone links being installed between the north and south korean leaders as they prepare for their first summit since two thousand and seven and a much anticipated meeting between donald trump and kim jong un is also in the works trump tweeted that he is looking forward to that while praising the news of the program suspension meanwhile u.s. vice president mike pence so little progress could not have been achieved without trump and his strategy of maximum pressure however analysts we've heard from believe the latest breakthrough comes because of the work of many players in the region not trump stream of threats president has been threatening north korea all

along and don't forget north korea. firing this testing missiles and and carrying out tests until felder. acquire the ability is to deliver a sort of devastating nuclear deterrence the united states even before president trump has given the cold shoulder to north korea and the north korean no and the united states was not to be trusted because while both korea at one time tried to demolish some of their facilities you never get anything in return so this time around kim is learning the tricks and try to acquire credible capabilities. sales of world cup tickets to russia have produced some interesting patton's america despite not qualifying has the largest number of foreign fans visiting the numbers from the u.k. quite low surprisingly that's the. booking very place at the tournament number of

reports in the british media have claimed fans who travel won't be safe the reason is that supposed threat posed by russian football hooligans a new documentary that the documentary channel's been looking into the problem in europe football beasts premieres next week on the channel let's take a quick look at a preview. you never know what's around the world in the. excitement. that's where the. violence is a part of it and it's almost a schizophrenia going cold because we can do all these things and behave badly.