siddur 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 do u.s. dollar being dropped 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 the 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 going to have a trickle down to the average person so you're suggesting the u.s. some pyres in terminal phase and american 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 why are they there because the ordinary french person they were plagued with all sorts of diseases of poverty there was so horrible there in paris that some billionaire philanthropist of the day built all those water fountain so that the people would have clean water and they now it's the opposite you know you have medicine song from tear coming here to america to treat poor people in the appalachian you know who have no access. 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 when it happens it's happening oh it's happening it's on it's on our 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. this is. the church secret indeed just like priests accused of sexually abusing children can get away with it literally i like to call this the do graphic

solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to a different spot were the previous standards not the highest ranks of the catholic church conceal the accused priests from the police and justice system to that of themselves and as the i and then i included tuesday's out in. this. case both. a and. right we're all set to start in five. year has a signal. he's not going to talk about the. justinian right after the morris explorers one who would have their. corner of rock.

to say. ok let's. call them to sophie and tell i'm sorry sherrick not said today we're got lots to talk about in our program and our gas to. the rock that. welcome back to the kaiser report i'm max geysers i'm not a terrorist to finish sched lock of mish 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 increase prices by consumers here in the u.s. wow if other nations retaliate it limits our exports i mean look what happened prices soared beings virtually crashed us in a mad dash actually added g.d.p. is that everyone was trying to. export their story 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 soon 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 lot of oil 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 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 if china is really subsidizing the us with cheap steel cheap alone and. barrels for example let's study your side of it who benefits from that work 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 us 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 their jobs didn't come back with a nest 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 where for the steel industry it's a net look if that i'm not in good midst of that but adding net loss to everybody else there's no there is 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 this whole idea of outsourcing the toxic externalities as they're called for corporations to china it's hit a chinese wall they're not going to accept it anymore so that this situation is

changing measure how can there be you know a better but parents. and you're certainly right people over in china daryn so i hear you 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 beneficiary of this it's not the chinese people and yes it's going to change the interesting thing is 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 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 handle but i have an equal footing here with china but china is already theirs you're going to be on equal footing with most of the rest of the world it's just not going to please trump 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 midterm elections so mish what do you think should be done about the so-called bucket of losers of 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 wages you know what is your answer on that well you're going to be with me on this woman pets this. was the real problem here and 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 progress that 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 health care medicare for all max you know have policy work any time government yes

and start slashing 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 food 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 or 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 issues 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 your 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 you know the big clean 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 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 trading 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 mission because it is not the bubble big point is the pin anyway we're out of time thanks for being on the kaiser report a pleasure to be on max 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.

close. ma asked some full complement. of. people as you know we that. in. the trees. most politicians say that only. leaves. out of a sudden the man just random sample b. there was a time. i said i will enter it in if they will not allow me.

to if they will shoot me. out all along a million million indeed i'm not i'm not picking on you. to be chubby and you don't want to be a man on man you got a bike i mean you don't look like i mean you got me i used. to. join me every thursday on the i like simon short and i was reading to get us out of the world of politics sports business i'm sure. i'll see you there. look up.

a right wing rally begins in the u.s. city of portland with a heavy police presence in place in case of violence these are live pictures from oregon as you can see will be going more in depth in a few minutes time. also in the program as democrats and republicans aggressively campaign in local and congressional midterm elections we look at how both parties are using president drum's image to get their message across. in the israeli city of tel aviv

a controversial new law that is seen as the scrimmaging against jewish citizens. ten am and olu four pm and how vonna on eleven at night here in moscow this saturday august fourth welcome to r.t. international our top story a right wing rally led by a group called patriot prayer has kicked off in the u.s. city of portland in oregon on the west coast of america. in force braced for violence hundreds of demonstrators many of whom are bringing guns have gathered in water front park in the city center and to the fascist activists and other groups decked mainly in block you may be able to see them here on the screen

gathered for a contour protest however it's been reported that they were ordered to leave the site by police it is the third patriot prayer rally in portland this summer the previous two we know ended in violence as its members clash with police on kuntar protesters police say the extra security measures that have been set up include barak a screening for illegal weapons also bomb sniffer dogs as well will be evident in the liberal city there in portland so there you're seeing their very evocative pictures right now on the screen police in between the two sets of protesters very well turned police as well there as you can see in full riot gear expecting the worst it looks like will be coming back to this story in on the run and also just to point out i thought that maybe we could see something else because

we know that earlier in the morning time a lot of items portland police had taken from both groups homemade shields they said. poles as well that might be used as weapons so police trying to take away any kind of weapons that could be used although one of the things that needs to be pointed out here is that concealed hung guns can be used in this city so that police have been saying that if they have a license it can be used well the offense also comes ahead of the one year anniversary of the now infamous unite the right rally in shock. it's bill though so heavy clashes on one the left wing demonstrate are killed since then violence has regularly flared off between far right and on to the fascist groups.

but. i was. looking. for her you know. what ted rall is an american political cartoonist columnist and author as always welcome to the program good to see it ted what do you expect to see if this rally how do you see it at turning i think as the day progresses well what we would expect and what we would want are probably two different things i mean obviously

what everyone wants is people to express their opinions in public as stridently as possible but as nonviolently as possible. given the end of first three of the charlottesville riot into the history of confrontation between the right in the anti-fascist activists it's not likely that we're going to see a complete absence of violence i just hope this gets we get through this. as peacefully as possible there is a symmetry antagonism this is almost like a scheduled gang fight. i or a fight after school between rivals and there's a lot unfortunately kind of a sense of bravado on both sides where there is you know the sense of rematch of charlottesville and. often decorative thing often doesn't and yet we saw a scene similar towards the end of june and this same city of portland how well

prepared you think the police are not to deal with violence there. well what i've been i've been following twitter feeds and from portland and it looks like the us we've seen in charlottesville and other cities where these sort of events have occurred there seems to be more concerned about the forces that the counter protesters in the right even though the all right usually starts provokes in the case of charlottesville were by far the most violent in fact one of them killed someone there and there were many other people who were seriously hurt so it seems like the police who sympathies probably tend to be even though portland is a very liberal city probably tends more towards the conservative rather than the liberal side of the political spectrum i would think that they're probably a little bit more worried too worried about the t.v. not worried enough about the right fascist types why do you think we are. you know

i don't i think it does look like an increase in violence between the left and right the extreme versions of both it seem to be simmering before but in recent times it's come to the boil. yeah i mean it's deep in some ways it's a replay of the crises that we saw in the late sixty's early seventy's these divisions that. reinforce they just last saw and they're looking for you have got sign from there are live pictures of a mix up there but yeah that's what you're seeing there ted rall speaking abideth ted is an american political cartoonist columnist with are speaking at the scene once in portland oregon. ok let's stay stateside not because there is more on stake for american voters in the upcoming midterm elections than simply choosing who they want in congress the votes considered to be one of the

most important in recent history because it could swing the republican majority that allows donald trump to deliver on his policies there's also the possibility but the democratic majority could make threats of his impeachment much more realistic and that's why politicians from both sides are topping trump and their campaigns skill up and looks and. now the midterm elections are months away and across the country it seems pretty clear that the elections will focus on one single issue donald trump that's not an exaggeration check out this campaign ad from florida everyone knows my husband ron to santa is indorsed by president trump he's also an amazing dad and ron loves playing the kids build the wall he reads the stories then mr trump said you're right you're right about that or maybe america. now that this scientist has the blessing of the donald he's rising in the polls

trump has actually managed to resurrect a number of republican primary campaigns and for the democrats trump is an easy punching bag and the bogeyman check out how this candidate is marketing his anti trump message i'm rich metal you know i'm running for governor to deliver progressive results and to stand up to donald trump here a few of the things i've done that already in theory i protected planned parenthood from the republicans in congress take and what's the number one way and i. for the republicans. take that trump now the ad never really makes clear how offending the president is going to help the people in maryland but that doesn't seem to matter the anti trump message is loud and clear and that's the name of the game in u.s. politics are you for trump or against him no other information is required that's not surprising when it comes to voters as they're divided along party lines like never before this is actually spruiking members of congress you cannot just run

against donald trump. and it is the job we democrats to put together a strong cohesive economic. group of proposals aimed at the middle class and those struggling to get better we're in a strange place it's almost it's becoming a cultish thing isn't it it's not a good place for any party to end up with a cult like situation as it relates to a president that happens to be of purportedly of the same party the democrats are now taking the cult thing to a whole new level they're even invoking old uncle joe he has very deliberately set up the press as the enemy of the people i. think that we first heard from joseph stalin this is very dangerous it undercuts democracy we decided to ask americans how much their vote will be influenced by one man's cult of personality do you plan to vote in the upcoming midterm elections no. why not.