trade practices and intellectual property theft but in recent months it seems that america's unwavering commitment to fight all of the world's scorches has brought all of those governments and the wealthy individuals who support them to a critical mass joining forces to create a parallel financial system which would be out of reach of america's long arm should they succeed the impact on america's global posture would be transformational absolutely and this is what they were on the cusp of a post u.s. dollar germany world and this is in transition right now and this is makes these very exciting days that's what i'm saying is like john mccain yes he was a patriot is a great patriot fight fight yeah we're actually sizing our power but you can only exercise your power responsibly although why is it coming back john mccain lit the fuse on the death of the dollar yes especially and now his passing is coincidental with the dollars passing especially in the same twenty four month period john

mccain and the u.s. dollar will both die in there because he could only exercise that power once or twice our guest jim records has said this as soon as a sanctions people and cut them off swift that us had the ultimate authority to do that and as soon as they pulled the trigger they set in motion an alternative to it because a soon as you do that you have to have an alternative boom to take a break don't go away and be right back.

now that's our one other than half an hour there are a lot of good luck though that the not a lot of the money out of the money there letterman. this was a good time to. try to move there i'm doudna mark you. know loud loud loud loud loud enough for north america and our son or ex chanting in the hall people we believe just a little bit here. a lot of my kids i live out the bubble so johnny will our little moment of motherhood the little accuser there are a lot of them i'm a little work in my building little are the things i don't want to put are they are the most hardy or the little the mother while there. is just.

one else child seemed wrong why don't we all just don't all. the world yet to shape our disdain comes to the ticket and in gains from it because betrayal . when so many find themselves worlds apart we choose to look for common ground. moon commute. tonight enough they would see. it was alive all's from somewhere you. came back to the community. people we obvious found in on the road look at me all about us all bible going towards him. for a while i was like oh no. that's.

right. say. she's going to use your money don't think that was all that. it should be but still. i know we all knew this. but it does if that doesn't also toppi me in my life. i see him on have to die. join me every thursday on the alex simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.

welcome back to the kaiser report imax guys are time now to turn to allison macleod of gold money dot com full disclosure maks us a c.e.o. and shares a gold mining alister welcome back to the kaiser report hello max all right so let's talk about trump the markets are responding incredibly well moving up new all time highs is it a melt up is there a what's going on here we're going to see a meltdown what's your what is what are your thoughts alister. looks like a bit of a melt up ready obo so interesting in this max is that everybody's been so bearish about everything ever since the lehman crisis there's still trying to talk the market down and you the market goes up and up and up and this to me is as irrational as the run in the u.s. stock market between one hundred twenty eight nine hundred twenty nine but we're still going up in my view all right let's talk a little bit about the difference of pain stocks and bonds here for

a second because interest rates are going up and as a result bonds are going down and however in that kind of environment you usually see stocks also go down is it how much is driven by the stock buybacks alister i mean if got like the swiss national bank buying apple stock you've got apple buying its own stock i've got all these major corporations buying back their own stock adjusted for all the stock buyback stocks are trading at thirty thirty five times earnings which would be all time highs is not a big factor well i think we always do you know well that i mean the fact is there is so much money to run. i mean so much money was printed in the wake of the lehman crisis not only in america but also also in europe is you go to a list cash running around i mean you've got so much money on deposit it's going to try and find a home to get some sort of return i don't quite almost if you go to yield of say point. one percent on. a ten year job and bought then you know

u.s. treasuries look attractive compared to that little bit of a digression air so i just saw folks now in germany of course they have negative interest rates and now the big german banks are starting to charge customers fees for holding their cash as a way to offset what they're being charged by the central banks are negative interest rates are now hitting deposit accounts i would think this would be an actual environment for gold alison mccleod else thought about gold first like a ninety thousand contracts are short gold futures shorts over ninety thousand contracts put this into context for us and what does it mean well if you bullish about the dollar and i would argue that everybody nearly everybody has been buying the dollar recently and you sell everything including your own grandmother in order to buy it and that's basically what they've been doing they've been selling cars they've been selling car since they've been selling gold they've been selling sober

i literally every thing they can possibly find to sell they sell in order to buy dollars and that is why. to go price gone down and as you say the next short position amongst the hedge funds is not precedented ninety thousand contracts we have never seen anything like this before so you know will you correct course it will because this is the dollar stocks going up and go stocks going done and you then get a better squeeze and already we have seen dance in the price go from around about sixty currently is trading about twelve ten so you know we're getting this technical squeeze and i think that that squeeze can only get far more vicious against us right you know you've got same situation over and total global output of silver or something like seven hundred fifty million ounces and yet the short position with naked shorts these are on collateralized short. positions just printed by wall street to make free money is in excess of

a billion yes got actually more short contracts than the annual production of some are very similar in gold you've got more short in the market then there are actually being ounces produced by the world on an annual basis that's not economic south or what do you call that i mean i mean why were to be fraud but is it just pure fraud or is there a any economic or financial justification at all this is no economic no financial justification is just crazy i mean first scary word i could use people are so bullish about the dollar and that's that's what's driving it and sooner or later that's going to reverse because there is actually no real reason to be bullish about the dollar i wasn't perhaps as a bet you debatable on us treasuries and there are gay sequence sokol riskless investments in other currencies such as japanese bought government bonds and german

government bonds but that's about anything i mean we've got a trade deficit which is running at around about seven or eight hundred billion dollars a year. other currencies like the yen and the major cost like the end of the euro trade surpluses so the run of the play actually is going against the dollar and i suspect a little later on once these trade tariffs start to affect prices in america the fed's going to have a huge great problem because can it really race race to do with a rising race of price inflation driven in part by tariffs and i think they've got a real problem coming up on this and it's likely to be destabilising i think rather than announcing in terms of the dollar. talk about trade a second but just sticking on the us dollar idea for a moment with a snake and shorts and shorting in the marketplace and our right what i would call . senator to be a fraud you have a situation where investors come to

a fork in the road and they can choose is to go down the path of buying dollars or they can choose to buy gold but there at the gate of the gold road is a naked short gun pointed to their skull right a blow their brains out this is not symmetric market making this is not price discovery this is ridiculous they're there they're not buying dollars because they're crazy they're buying dollars because the path to gold is being guarded by the equivalent of a man with a gun as paul krugman likes to say when describing american style capitalism he says it's basically just men with guns thank you paul krugman ellis close to over to the curve so we hear about a flattening yield curve and we'll talk about trade a second but i want to talk about the old curve what does this indicate alister should anyone be worried. well under normal circumstances

a flat you normally would indicate there's a recession in the offing or a very at least very strong chance of a recession in the offing but we've never seen this situation before i mean the idea that it flat you please into recession basically comes about because nobody is borrowing money with long maturities simply because you know let's say that the economy is no longer following through whatever whatever. but this time it's not quite la the u.s. economy is in just concentration that is actually going like a train as you know powerless reisa on this the problem really is there's just so much money around the idea that you can compare a situation where there is a limited quantity of capital in the system which is a situation where there is over one hundred percent of deposit money in in existence. america compared with the private sector g.d.p.

i mean small dollars in g.d.p. in the private sector this is a this is not unprecedented situation and i do think that you can really look. into cases such as the u.k. as has been reliable as being a reliable indication of what's going on but what we do know in the american economy is that skill shortages are beginning to impact labor markets. anybody who's it global in america basically is you know it can get a joke so the economy is i think in a pretty advanced stage credit cycle i don't think we can really i mean you keep talking about all this money sloshing around the system and the fact that we have failure of price discovery at the same time that you can't really call that money money historically is a store of value or a means of exchange but we're talking about family by the central bank that's used for political favoritism and for political outcomes that's not money that those are

coupons that are printed by a centralized autocracy to further their power structure but it's not quote money as we understand that term and the everything you're saying kind of buttresses that point the flattening ales curve is an economic indicator that would help you determine oh are bonds expensive or are they is a market but again we're not talking about money are we were talking at about a private coupon issued by a club talk or say for the benefit of a plutocracy at that that you're man of a democracy and they were all and result is a lot of more polysyllabic words strung together and fricken awesome sentence i have to repeat that i replied all right so see n.b.c. is worrying that the anti dollar awakening could be ruder and sooner than most economists predict in other words the world is not a food old by this funny coupon money that's not really money. in the world are three checking the dollar. do you think that the increasing deployment of sanctions

embargoes and cutting off nations from swift were result in total rejection of the dollar and a new financial order alister well time i think yes because really you don't weaponize that currency and deploys in that fashion like if you do that basically you just read mistrust and we're seeing this with. the russians who. got rid of their fuel their treasury salut not quite a while but they've reduced it to a pretty low level i guess will it be buying instead of being buying goat i think that they've actually got the right side dish and i says i suspect as the dollar gets into trouble the russians if you like the raising folks for the russian economy is likely to improve quite significantly i think they know what they're doing it doesn't make sense i mean precisely as you say max the pay the money the

surat is just that is just a paper is just currency. it does not retain it is value and death toll in the long run it's of no use i mean people just don't seem to understand that since the nixon crisis would show all the way to the end if they ended the bretton woods arrangement the dollar against goat is lost ninety seven and a half percent of this actually now that means this is literally any two now percent of the one hundred seventy one dollars left measured in goat and i would say the mood at the goats that expensive so we're not exactly taking a you know as the worst moment to value the dollar right now so again at the holiday our first second segment to pick your brain some more if that's ok that's my pleasure and that's going to do for this edition of the kaiser for with me max kaiser and stacey however i'd like to thank our extra special guest for all blighting. from a cloud of gold money if you want to catch us on twitter it's kaiser report until

next time. not that i'm going to learn how to not let our love know that that. out of the mouth of the money there's a plan and let's remember. this was a good time to. try to move there i'm job of now mom. no not that i want to get out my little funny not why not. why it generated the all people we believe just

a little bit here. all of my kids i don't want them up or say johnny what are the other mothers on account of mother having a little accuser is a little on the way could not be old enough to want to think i don't want to put all your love to my worst cardioid on all the mother brother thing. with more make its manufacture consent to stick to the public well. when the running closest to protect themselves. or the family. lives and be the one person. we can all middle of the room see. the real news is.

that as you know provision out my back want to know what it is on those that are like i if you're the lucky. but i. think oh. you're so your height oh alaska's buskers i left for big you got plenty of that but let me describe the media resources you like on the outside of any program on a month all those years. so you know you're not. you know just i mean what i'm already. i mean. there's enough that's what i might. get on. my body and we've. already yes it will be and he.

just. you know. the. police arrested several hundred people during opposing rallies over migration that have taken the german city of candidates by storm sparked off after a local man's death and a leaked arrest warrant for the suspects we've got a left wing demonstration. i'm in the middle of the right wing demonstration. starting to gets a little testy amongst themselves. polls in sweden show a growing split over migrant numbers as euro skeptic and right wing parties rattle the ruling social democrats. passenger jet skids off the runway at russia's

sochi airport catching fire leaving eighteen people injured. are broadcasting live direct from our studios in moscow this is our t.v. international thomas friedman glad to have you with. all right police have arrested some three hundred people during the most recent migrant protests in germany continues to be the scene of right wing rallies which have been met with counter protest several anti migrant groups arranged a so-called silent march this saturday in protest against chancellor merkel's policies rival demonstrations have taken place in ten minutes throughout the week protests started after a local man was stabbed to death by people the police described as being of various nationalities. while i'm here at the demonstration it was organized by alternative

for germany now they explained to me that the. demonstrations in the beginning of the week that they had council and joined in said that they were going to join in with the demonstration a woman things we can see is coming soon they're very keen to make sure that there's no no protests that are being allowed to get close to them and one of the organizers is that dreaming and shouting at the press that they need to move away this is the press we're here to talk about you what are you twenty why are you pushing me all the way. and what you're seeing for the demonstration from the day is that a large crowd that's been gathering steadily at the end of the street. the anticapitalist screen you can see is that ponce spread so right along the street they are being kept far away as possible by be incredibly large police presence we've got a left wing demonstration about half a kilometer that way i'm in the middle of the right wing demonstration and they're

starting to get a little testy amongst themselves that was certainly some of the right wing demonstration that came here today intent on having a fight. to get. quite . violence done no right to demonstrate. journalists out there they really took up the shield of his mike and were beating it out behind. the right wing crowd they were just trying to attack the police and being escorted by the same police officers towards the the train station just over my right shoulder as the demonstration is their demonstration as it was planned to wrap up well as mentioned saturday was only the latest a day of protests in kemet so let us all watch now how it unfolded.

was was. a tough confrontation is expected during sweden's a general election with the country split over a surgeon migrant numbers you could see the governing left wing social democrats

lose their upper hand in parliament of the same time their nationalist opponents are being widely criticized with claims of racism which is more from our record nationalist sentiment as producer on the project change better tones here are conducting for the upcoming general election the un team migron sweden democrats party looks set to make big gains they define themselves as social conservative with a nationalist foundation but the swedish media is warning of something more and say our rival politicians he says but it is a racist party with nazi roots that's what i've always said that the sweden democrats deny i could say sions they are racist and say they a focus is on smart immigration policy this is like the old all way of trying to scare people off from voting for us sweet innocent x. extreme in the european sense our policies are not the extreme our politicians are

not. extreme in general however and your racism group has been doing some digging and found candidates to the parliament from the sweden democrats had links to the new nutty group the national socialist front we had some bad eggs in our party. just today it was revealed that even you know the center party or the liberal party they have people who have killed people who have sexually assaulted females so unfortunate that happens in every party but because the swedish left wing media hates the sweden democrats they tried to bring that up more for the others critics of the sweden democrats are still convinced their defining feature is racism a central point for them the central goal is to keep sweet and white. these people that came from. skinheads white power organizations during the night they are now the second largest party in yet there are way more radical voices in

sweden's far right camp alternative for sweden formed by those expelled from the sweden democrats for being too extreme was a c.v. let's say that the sweden democrats are quite good but they are getting more and more liberal more and more politically correct and they are not the ones to save sweden today so we have to create a new party a tougher party which is not politically correct a party which dares to speak out about repatriation because it's the only solution to sweden problems we gave the immigrants everything in this country we have tested everything and sweden is today a country in a real mess alternative for sweden's chances of claiming a seat in the parliament are slim but not as slim as the nordic resistance movement basically present themselves as heat low soldiers. i. was the one to your life when they call you like

me now and the people gather you sound like no not in our studio you are right there yeah when i'm around more it's the right brainwashing yeah so the wrong very wrong what is your opinion on now is that. what they were great not just a nigerian law is the greatest in europe the really have huge and i know it's nothing i mean is that correct nothing is that now national socialism or the number of the supporters hardly more than two or three thousand significantly more people counter-protest needlessly to inform the country's communist party thinks the threat posed by swedish nazis is fieri much exaggerated but that they have a really good media strategy when politicians gather they would go the. threaten people and make a lot of noise and being really tough and dangerous and look really scary and in

the media will write about this but i mean there are not so many people they can be a real threat the we individuals but on a societal level they are just. they are nothing if former swedish police officer with afghan or reaching staff and sherry quit his job to help migrants like himself integrate his name as a voice of reason in sweden and believes is getting too much attention it offered a different explanation for that maybe sometimes it is easier to focus on them because look nazis we know who they are we have the knowledge and when it comes to . make more extreme subjects we don't know so much so we don't want to say the wrong things or we don't want people to think that we say the wrong things despite being shamed as nazis by the media and politicians are right and far right movements are still winning people over in this once liberal nordic state but these

parties are showing they will confront current migrant policies head on lead for better or worse great no shouty reporting from sweden. the u.s. has declassified nearly six hundred pages of private conversations between former american and russian presidents bill clinton and boris yeltsin they took place between one thousand nine hundred three and one thousand nine hundred nine when yeltsin left office election collusion nato expansion and the future russian president vladimir putin were among the many topics they discussed our senior correspondent girls have comments. now that we are at rock bottom in terms of relations between russia and the us it's bad now we pine for what they work backward presidents could talk frankly joke laugh heck even collude for elections bill for my election campaign i urgently need for a rush or

a loan of two.