and the dollar is the reserve currency by imposing restrictions on settlements and dollars this prompts dozens of countries to consider other options putin said adding that the chinese yuan is now obtaining more of the qualities required for the role of reserve currency you know the u.s. acting as a bully regarding the u.s. dollar financial system could ironically end up helping workers in the united states that's right to do u.s. dollar being dropped in as a reserve currency and so you have titanic shifts or tectonic shifts i should say in the global economy and one of those would be use of alternative currencies again i think it's end up being better for the average person if any letters predicted this predicted us but what i'm saying is that i have lived in europe and i could witness with my own two eyes the life the lifestyle the quality of living of the ordinary european is vastly superior to the lifestyle of the ordinary american and

part of that they used to have as miserable an experience you could see that in europe before you know when they had empires once they got rid of the empires their lifestyles and their living standards have increased rapidly i think if you could see it across paris for example. before that the lifestyles in europe are vastly improved because they don't pretend to be empires they don't have the infrastructure costs of an empire so once you release the costs are you going to have a trickle down to the average person so you're suggesting the us empire is in terminal phase and americans should rejoice they should embrace it let you go travel around paris and there are all those fountains beautiful fountains and but the water fountains right why are they there because the ordinary french person they were plagued with all sorts of diseases the poverty there was so horrible there in paris that some billionaire philanthropist of the day built all those water fountains so that the people would have clean water and then now if ya. you know you have

medicine from from tear coming here to america to treat poor people in the appalachian you know who have no access to dental or medical care so the average american citizen does not benefit at all from the american empire now so breaking up the empire might be bad for a few conglomerates but great for the average person we'll have to see what happens and seeing what's happening oh it's happening it's on its own mark donkey kong pace make a donkey come on we've got to take a break when we come back we'll be continuing in this vein so don't go away. ma are some full complement of.

people as you know we that. in the. trees. most politicians say that only. the kids. and all of a sudden a man just. told be good tell you what. i said i will enter it in there they will not be alarmed. if they will shoot we. are all among a million million indeed i'm not i'm not young to menominee been diabetes have been killed by the human on mankind got up by the government it will be like i mean you got me i use.

credit cards. welcome back to the kaiser report i'm max geysers i'm not a terrorist to finish sched lock talk dot com mesh welcome back but we're going to show graphics let's talk trade war in our last episode here a kaiser reporter we interviewed karl denninger of market ticker who said trade war is a good thing i believe you believe it's a bad thing tell us why all it does is increase increased prices by consumers here

in the u.s. wow if other nations retaliate it limits our exports i mean look what happened prices story beans virtually crashed us in a mad dash actually add to the g.d.p. is that everyone was trying to export or sort of beans right ahead of the twenty five percent tariff that china put on so the farmers are howling mad here five republican senators are howling mad over this mainly the agricultural straits max i can only find one person that's happy one industry is happy that's us steel industry prices are going up the auto industry is mad because the price of aluminum and steel is going up the cost of cars is going to go up our exports are going down we call this winning i don't think it's foam x. it's losing well you mentioned prices are going up and that they do go up and but the china of outsourcing of labor really was problematic for china it's

unsustainable they're moving away from a slave model more toward a higher priced labor model in a lotto and the us can't get away with outsourcing the environmental degradation that they were doing for years you know china's not taking the garbage anymore the biggest export of america to china for a long long time was garbage and that china saying we don't want your actual garbage is not garbage products but actually. tons of garbage and i'm china saying we don't want your garbage so china is rejecting the model so if america you know this what trump is doing is in reaction in a lot of ways to what china is insisting that we do so he might call it like us to trade war but you know china's already been in a trade war with doing a trade war for years there now we're trying to react to it meant that if china is really subsidizing the u.s. with cheap steel cheap a woman she solar panels for example let's study your spread of it who benefits

from that what china is doing if that's really accurate is saying they're taking the stuff we manufactured we're going to give it to you jerry who benefits us consumer max if the u.s. consumer benefits it's good for us mad by us consumer over the us worker wages are gone i've been outsourced to china so prices are going down have been for a long time but not as fast as wages so they're all temp assange is let's reverse that equation let's get prices up let's get wages up as well because you can start building manufacturing capacity right here in america the u.s. manufacturers are now more than ever before max look at the numbers it just takes fewer and fewer people we call this productivities to manufacture anything those jobs are really coming home you know. the industries might come home and some of the jobs of have come back and their jobs didn't come back with us that that's the whole fallacy of this thing you know there's there's five million

jobs manufacturing companies in the u.s. use your products is maybe a couple hundred thousand that actually produced steel where is the benefit to this to drive up the price of steel max there is no one right you mention nucor new car the stale company they have by this policy picked up a billion dollars of the savings they have now talked about they're going to start manufacturing in the. yes that's the steel company as you mentioned already benefiting from this and looks like high pay still jobs right there nucor so it's early in the game the trend is emerging though that this is a net winner for wages in the u.s. measure it's a net when or for the steel industry it's a net look if that i'm not even convinced of that but adding net loss to everybody else there's no there's no win here the there's only last year

that the chinese side of the equation is clearly in flux i mean they are no longer going to be able to accept the current paradigm as it has existed for example in china now thousands of incidences of mass on rested a toxic pollution given the entire communities cancer. so it's a silly way to compete. you know your family is certain to come down with cancer i mean you know this to sully of outsourcing the toxic externalities as they're called for a corporation to china it's hit a chinese wall they're not going to accept it anymore so that this situation is changing measures how can there be you know a better but parents guy and you're certainly right people over in china are dying so here you have a case for air pollution from water pollution my gosh i don't want to go to china let alone you know i have to live there max with where we are with all the

pollution i couldn't trust anything i get eat or drink books. again who is the better for sure of this it's not the chinese people and yes it's going to change interesting diners just looking at a report today max and china is about ready to go into a trade deficit with the rest of the world just not with us so how is this for most work in terms of fantasyland here what's happening. thing is the price of oil is going up. the price of other things that china uses china's labor costs is going up it's it's just us is not the beneficiary on tropes rooney you know he wants us to have a i have an equal footing here with china but china is already there if you're going to be on equal footing with most of the rest of the world it's just not going to please trauma transpiring this this gun and it's coming back around boomerang

back around he's firing to gun right after us max i think it might cost in the mid-term elections so mish what do you think should be done about the so-called bucket of losers away which were spoken about by hillary clinton those in the former industrial powerhouses that now have non wealth creating low wage jobs like burger flipping it can't possibly afford to move to where the jobs are in san francisco new york city massive copper car suresh to keep them from voting perhaps five dollars a wage is. what is your answer on that well you're going to be with me on this woman pets this. was the real problem here that's what we need to step back and look at is the real problem that wages are high enough or is the real problem is that the fed has thrown trillions of dollars you know in every which direction and prices are rising and we've created

a bubble in housing in stock market in assets and of course the bottom end of the wrong is not the beneficiary there but the top end is top one percent even top ten percent you can't go much deeper than that happier than ever so that's the problem yet yet yet we see all these people wanting this some go progressive shocked the world and new yes and new yorker i forget this woman. mary but you know she's running on a policy of zero zero must give away free education free kindergarten free healthcare medicare for all racks you know have policy work any time government you get soon and start sloshing this money around the opposite of what the intent is what the stated intent is what happens well look at where prices are reasonably stable and agricultural products mood are among them look at where they're not

cost of education soaring everything we've thrown money and medical obamacare every price where we tried to give away free stuff that's where the problem is max would be cortez in new york the election coming up another member now so you mentioned the money being thrown away by the at the fed all the money printing you talking about of course china and the u.s. trade balance imbalance and invariably that comes to this idea of the u.s. dollar as role as the as a reserve currency now would a global trade unit be more equitable means of avoiding a massive trade imbalance in other words going forward here in a bit of a gordian knot in a lot of respects in terms of solving these trade issue is it is it going and you mentioned the fed there in the money printing is there room is there

a scope to consider a global trading unit of some type not the u.s. dollar but one that is more equitable works it works in keeping a global trade more balanced measured absolutely racks and you know what is its goal. it's actually whatever the free market would decide upon it's a free market decided on bid to i would be perfectly happy with that max yes. we do need to get central banks out of the picture look to people choose whatever curves are they want to trade and. if we take this back to when all these trade imbalances started it didn't start with nafta it started when nixon close the gold window in trade if we went back to our own on that policy the trade deficit would go back pretty close to zero to where it was before we took this off which allowed

the free printing of money in the united states the e.u. got into it japan got into it china got into it. that's the problem that's what we need to get back to how about a free market in currency that would fix the problem the you know the big plane advocates out there would say that this is the free market and currency it is like and its ability to appeal to thugs who want turns out to compete with each other in a free market and that has gained a lot of attraction and that sense converse to gold you would think based on what we're saying here that gold would catch a bit that gold would be slightly more positive as folks looked around to the global trade wars and trade situation and started to discount the possibility that this completely unsustainable and like has happened so many times before i return to gold is inevitable how come gold is straining so lackluster here v.m.s. then i don't know i certainly expected

a rise in gold here but look at it this way if you gave people a choice would you read that they rather have a dollar backed by x. number of those or grams or or whatever of gold or were they rather have a dollar back by nothing i think we know the answer to that and actually it is it is bitcoin that has arisen out of that out of that matrix max i i don't disagree with you on that point and all the so what. what is it going to take to get back there i don't know i do think we're headed for a global currency crisis of some kind i don't know how we can be i don't know where it starts might guess and actually still is europe or japan but it could easily start in china or or anywhere else we both know the system there were

on here i don't know you know how many are we are we have to a quadrillion. druthers now this model is not sustainable i don't know how long it has though max no one does we're all guessing just remember mash because it is not the bubble big point is that ten anyway we're out of time thanks for being on the kaiser report a pleasure to be on macs and i look forward to the next one well that's going to do it for this edition of the kaiser report with me max kaiser and stacy ever like to thank our special guest miss shedd luck of miss talk dot com if you want to raise us on twitter it's kaiser report until next time by al. do the corporate mainstream media fuel america's cultural wars do they magnify

political differences it would seem so how else could it be as the only topic that is discussed and argued over this donald trump are journalists infected with trump to rangelands. the philippine citizen journalists when the us military moved out of the six tourists moved in. and now a whole generation of fatherless children is growing up here. my dad and within one month of the postal code that. my birthday is in general you write to us and i know you know. that her son. sire isn't the first time in the t.v. to use your name and takes you for

a night answer is known that no one but if you are. that's it the better you want my god. ok there you can take the deal of above that you can't take the birth of a girl. could be no woman you know. oh i love you like that i did it you did it did you. mean a man. friday

protests on the israeli gaza border leave one palestinian dead and scores injured as israeli forces again use live rounds. british newspaper claims it has found a russian spy operating in the u.s. embassy in moscow but washington intel agencies insist it is really not what it seems also. thousands of yemenis protest in the capital against an alleged saudi led coalition assault on the main port city which resulted in dozens of. my colleagues kevin and

we'll have full news for you in about the time up next so it's crosstalk and they delve into the battle between the mainstream media and well the elephant in the room donald trump stay with. blue and welcome to crossfire for all things considered i'm peter lavelle to the corporate mainstream. fuel america's cultural wars do they magnify political differences it would seem so how else could it be if the only topic that is discussed and argued over is donald trump or journalist infected with trump to rangelands syndrome.

cross talking trumped arrangement syndrome i'm joined by my guest rob taub in new york he's a political pundit and journalist contributing to the huffington post also in new york we have lionel he's a legal analyst and a news decoder at lionel media dot com and in plymouth we cross to patrick canning's and he is a journalist and writer and founder of the news website twenty first century wire dot com all right gentlemen crosstalk rolls in effect means you can jump in anytime you want lionel let me go to you you're also referred to on this program as fella my first question is here does the do the corporate mainstream you remember that program did that do they do the corporate mainstream media. do they contribute to the cultural wars it is are we so is divided and is everything is contentious as it really is or are they dismiss it for their own political purposes go ahead lionel yes no yes no and sometimes the corporate first of all correction my dear friend it is not the mainstream media used to be that mainstream media used to be mainstream

they're not this is the mainstream media social media different platforms that's mainstream they are an existential fight for their life so within the particular parameters of their working environment yes they mix it up and people are scraping does the rest of the country mainstream heartland mainstream america care no no there you go so ok but ok but rob i mean i get we all get line on this point but they still think of themselves as the mainstream and representing the. the population what they really do is represent power particularly on the left i would say but i want to stay with this magnification here because if you look if you watch c n n n m s n b c and then you watch fox on the same evening you'd think you'd be parallel universes i mean you really would have

a sense that both are in some kind of never never land and having nothing to do with the world outside go ahead rob i was one of the token liberals on fox and at one point i think i made over two hundred. ten appearances on there over the course of a couple of years. there they were pursuing back then i think more of a fair and balanced attitude but now well i was always like the washington generals the team that never beaten the harlem globetrotters you know i was going in the know that five other people were going to beat up on me but i was allowed to voice my opinion i don't really get that sense anymore i sense that the people that they pick to to give a liberal perspective are speaking of outrageous claims and comments and policies and they're taking an extreme so they can say hey look at this kooky liberal he is just like bernie sanders but but we also have

a divisive president who has written that acrimony throughout the country and we have politicians on both sides that are taking more extreme points of view and you're going to have news shows and stations that are going to be representative of those those policies and beliefs and then those that those bases are going to go and watch those particular stations and channels ok lionel doesn't agree but i'm going to patrick first here i mean rob brings up a really good point i mean donald trump by any any measure is a very contentious president i mean i i watch all of his town his stadium appearances i mean he. he goes out there ok and his base likes it ok but he does give the mainstream to the liberal mainstream media or this c.n.n. and some b. c. the people like that he gives them a lot of cannon fodder to want to work with patrick you know i think earlier your point it's essential crisis that the mainstream media is going through it's not

just in an existential crisis it's a financial crisis so what you have now is they've been forced to basically run click bait if you're talking about broadcast television it's one crisis after another or one sort of trying derangement crisis after another with the print with the washington post i get the daily alerts every day and michael cohen said this michael cohen said that steve bannon is gardner heard him you know whatever singing russian in the shower so this is the daily sort of fodder because they can't they have to attract the audiences they have to get the clicks the very thing they accuse of the independent media the very thing they decry on social media they themselves are the worst offenders now so they need a crisis this is the sort of recurring theme with the mainstream media ok it's actually always been like that for many years you know crisis if it's not political to be the way you have a good but patrick going to go to lionel but i get what you're saying but what about a real crisis because i. sensibility stormy daniels isn't

a crisis for me i could care less ok a creepy porn lawyer i could care less it's in one ear out the other and i don't those are minutes of my life that i will never get back that's why i don't watch those stations here lionel you were disagreeing at some point go ahead jump in to my dear friend the intellectually sapient mr taube i disagree in one respect what roger ailes die fox news as we knew it di absolutely die next with a d.c. fox merger disney rather to me fox merger even though they swear that the news of the union is different you are seeing a watered. down and the dying saccharin version of what was once fox at it's and you can argue about this best and the like with all due respect also my dear friend peter what you like has nothing to do with what these people are interested in this is a twenty four seven runaway train that you want to be run away you have to keep

feeding the boiler and you are pouring everything into it you have a newsroom with twenty something i'm sorry to say per d.m. folks who i have no journalistic ability know no experience of any kind of t.v. or whatever they're just there to click and just feed ok. there's no room for correction but if i could never do the point is here is this dividing the country i mean i understand how it's made and why it's made and i understand the bottom line here but it is dividing the country i mean jim acosta i mean what it describes to journalism ok i mean and they probably think he's doing a great job rob if you were nodding your head go ahead he's not he's not defied ok ok go ahead go ahead rob jim acosta is not dividing that ok i'm sorry i'm sorry. go ahead rob lionel consider this ok i'm going to start at the top with our esteemed president donald j.

trump when you have a white house press pool they usually normally interact with the white house communications director who for quite a while was hopes his hope picks the way it used to run and i was not a huge fan of president obama only voted for him once jen psaki who was a communications director disseminate that information to her comms team the comms team then interacted with various people in the press pool and disseminate that information to them so they could write about it i don't think that's ever been done under trump so you have pressed people that sit around twiddling their thumbs sitting and fuming going what am i going to do what am i going to write about i think i was. that trump is a jerk and that he's disorganized and he doesn't do anything only because that's what's going on that doesn't need it comes to me has twitter ok that's why it's added dear let me go to patrick because you know we've got a problem i think it has got going on line here you know we've gone back and forth on this program with all of us all of us here about twitter and and it's got those

pluses and minuses here but again the traditional mainstream media lionel ok this is where that creates an opening for them is well ok so you know these different strategies they have their pluses and minuses patrick go ahead and claim it yeah i think you're kind of talking about two different things here but let's talk about social media for a minute because these are some of the same corporations that are now overlapping with broadcast media and with mainstream print and they're also working hand in hand with the first draft coalition all these sort of concepts to police fake news and so forth they're they're ideological you know in the united states and you know their ideological dependence is really on the state you know and i think this is the mainstream media's problem as well they need access to the state they need access to power they also need access to corporate ties and money and hence they

become.