three by the way when the you know john mccain returned to america from a prisoner of war camp which was a horrific experience and he was horribly tortured but he returned in march of one nine hundred seventy three right about the time that. basically we had the petrodollar beginning of the petrodollar so we after forty years we have a lot of hubris and a lot of war hawks and neo cons demand that we use that as a weapon so the dollar has been weaponized and that's the likes of john mccain and all the neo cons around him that we lead to this headline here from c n b c the anti dollar awakening could be ruder and sooner than most economists predict the united states is currently waging economic warfare against one tenth of the world's countries with cumulative population of nearly two billion people a combined gross domestic product of more than fifteen trillion dollars these include russia iran venezuela cuba sudan zimbabwe man maher the democratic republic

of congo north korea and others on which washington has imposed sanctions over the years but also countries like china pakistan and turkey which are not under full sanctions but rather targets of other punitive economic measures right the dollar is an instrument of war it's a been weaponized and weaponized and the empire that is the us is expanded and controlled through the you world's dependence on dollars to survive and that's to post world war two order that to the legacy of the bretton woods agreement and this is what countries are now fighting to to get out of this constraint out of this choke hold of the dollar but it's a classic set up a first they came for the communist and i didn't say anything because blah blah blah so here they first they came for cuba and i didn't say anything because i wasn't a communist are our country wasn't communist then they came for venezuela and then they came for iran. and then they're starting to use that weapon that power that

hubris the emperor the empire gets less and less happy that you might betray them in any way so this is what we're at the point now where you know the u.s. has decided again to impose sanctions on iran and europe you better abide or we're going to sanction you and like you know those big icebergs break away from the arctic or the antarctic you know and they float away it's like the rest of the world is breaking away from the u.s. dollar has been frozen under the yoke of u.s. dollar germany and now it's breaking up we're going into and i have coined this phrase neo mercantilist you know i was the first to call those and he would just like i was the first to measure because in the twenty eleven i'm the first to mention the american dollars i'm in twenty seventeen and twenty eighteen we're going back to nineteenth century global economies again so i want to say that this is the sort of neo con hubris stick sort of what is called patriotism by some after

john mccain's that in all of the areas for him but some could say it's called imperialism from the outside they might see it as very aggressive a neo con like and and are we here in christ report have warned of this but this is c.n.n. b.b.c. saying it and we've never even put that into context of just how much of the world's economy is under sanctions by the u.s. because from a u.s. perspective each one of the economic entities is targeted for good reason be a human rights violations terrorism crime nuclear trade corruption are in the case of china unfair trade practices and intellectual property theft but in recent months it seems that america's unwavering commitment to fight all of the world 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. transformational

. saluting this is what they're on the cusp of a post u.s. dollar germany world and this is in transition right now and this is makes these the 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 yeah on the death of the dollar yes especially and now his passing is coincidental with the dollars passing essentially in the same twenty four month period john mccain and the u.s. dollar will both die and they could only exercise that power once or twice our guest jim rickards has said this as soon as they sanctions people and cut them off swift that u.s. had the ultimate authority to do that and as soon as they pull the trigger they set in motion an alternative to it because the soon as you do that you have to have an alternative of whom to take a break don't go away be right back. join

me every thursday on the alex song with sure and i'll be speaking to us of the world of politics or business i'm sure business. it was you know provision on my back when i wanted to. ask but i. think oh. you're so your height oh i lost his boss because. you describe the media resources you know. any of your money my film of those in person but the best honest i don't mean just any of them. showing us you know what i was you're not. you know just on the point i'm already but it was sped up out of me just a lot of the media and the i mean the law. has been up and i must say i mean i really feel so i just don't get off on getting the rest but those were the old

speedy tucson's those people are going to respect i'm one of those but i was just this by the scruff of his arm with. my family fussy you could a car bomb i just don't think they're ready he said whiskey and he thought of getting up there calling with you you seem to mean to carry out my thought aloud problem you just got to go you. welcome back to the kaiser report imax guys are time now to turn to alison mccleod of gold money dot com full disclosure max i say see on shares of 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 bell start really over what's 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 open up 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 and that kind of environment usually say 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 and selling 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 almost ignore that i mean the fact is there is so much money to run. so much money was printed in the way that the lehman crisis not only in america but also also in europe as you go to school is trash 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 and i could almost if you go to yield of say point. one percent on. a ten year bond then you know u.s. treasuries look attractive could go to that little bit of a digression air so just our folks now in germany of course they have negative interest rates and now the big german banks are starting to charge customers. for holding their cash as a way to offset what they're being charged by the central banks are negative interest rates are now heading deposit accounts i would think this would be an excellent 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 are 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 or they've been selling current says they've been selling gold they've been selling so i literally every thing they can possibly find to sell they sell in order to buy dollars and that is why. the go price gone down and as you say the net short position amongst the haitian funds is not precedented ninety thousand contracts we have never seen anything like this before so you know will it correct course it will because a soon as the dollar starts going up and go stops going done you then get

a better squeeze and already we have seen bonds 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 short seas or on collateralized short. positions as 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 by it 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 goes into haps as a bet you'd abate a bill on u.s. treasuries than 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 raise rates 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 destabilizing i think rather than how i'm saying in terms of the dollar. talk about trade a second by just looking on the us dollar idea for a moment with a snake and shorts and shorting in the marketplace and our right what i would. senator to be a fraud you have a situation where investors come to a fork in the road and they can chairs 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 in iraq 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 the systems in. 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 could 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 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 crisis governor at the same time 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 though everything you're saying it kind of buttresses that point the flattening ailed 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 frick and 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 jacking 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 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 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 it 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 like catch us on twitter it's kaiser report until next time. you know. what holds a cinch to. put themselves on the line they get accepted or rejected. so

when you want to be president. or some want to. have to go on to be press this is what before three in the morning can people that i'm interested always in the walls of our. first sit. that i would rather have that done other than our good luck though that the not a lot of the money out of the money there when i get a feeling. this was a good time to. try to move there i'm job of no man. no not down want to get my little money not for not gender against our son

or ex chanting or they'll all people we believe is the beer. bottle of my kids i don't want them up a side johnny boy are they all the moment i thought a mother had a lot of kids or is it a lot of them on the way to my building little of the pink i don't want to put out by other mothers are they were there all the mother brother. i think i will i think i think. it will be yes you know. just i don't hide away lost his boss because you got that you just part of the media which was you know. let me put him on a month although she doesn't want the pessimist to want to go to show your film of

this when i mean when i think to india to do it you know if anyone. has. shown us you know if i was you know. not just i mean what almost what a lot more people have spent up i mean just go to. a checklist i have a lot coming up from all of your business i get along. with you. and in the upon what i've seen her face a pleasure let's go. see him because i get me. now we've had a we're doing. my thing with classy equal kind of woman you just bumped into already yes it westy and you know the thought of getting up there calling quincy i think. it's the. square of focus on the board so you know i think i. look at what i mean by that anybody would accommodate you when they were there obviously but they have been.

in the eighty's metal and it was considered one of the most crime ridden the patients in the whole world it was here the drug lord radley infamous cartel the gang made millions of dollars selling cars. cain and its leader killed anyone who stood in his way even though the cartel was responsible for thousands of deaths happening remains a popular figure among the country's poorest people in some parts of the city he was even known as columbia's robin hood. medal and is also home to a close friend of ask advanced they call him popeye he confessed to murdering two hundred fifty people and organizing two and a half hours in killings he spent twenty three years in jail for the crimes. that

popeye hasn't become an outcast in the city where he once killed on the country he's very popular styling himself as a blogger and political activist who came to madeline to meet him to try and understand this colombian paradox why he is treated like a superstar. i must admit i was very nervous before a meeting. like it might. be an interview to egypt i don't ask for the bailey next meeting if we have. to. settle. the police your way out of the security you are the sort of. a god that i am you don't leave those. estimate pre-marital this tell you know. this. is the leadership

let me say and do not allow the problem you just go to the media. ok but you say you're going to me that. was a. mistake. so it is. merely the i got that i make out of this. book. this is not a complaint you see is there you know and we're getting the e.p. nina. but i cannot it's not a complaint letter can be supported by the media. is going to be put on by the. law get out with little thought it. could mean a little i am not into i want to start. to squander too but just to put is

just what i need is good then i support put us on i give up we're stuck on television as you know. we had a moshe lehman we had when. it was i mean. yes what this sweet dog. sounded like. the. you know the interview. i mean the melanoma thought of him up and. let them all coming up with. i don't know your place on the camino and i'm a. million dollar man of the u.s. so i'm going to think when he goes plate is going to put then i said. you know at the spot of the moon do. you need them in order to. be published. mid year in. the moon did it go to c.n.n. when the score of the media. in the mid eighty's

cocaine empire came under attack the colombian government signed a treaty with the united states that allowed local drug lords to be extradited to the u.s. saying. they're going to receive the full risk. if it were not the. only of. a moment that media strolls. yes it was for a political fight over who got. to see all. the illustrations. i know militants alone in front. of us are not. the also costello thirty trial in this political pop on thirty of us through.

the phone us with my specific comments and love. to send us an awful bin only are you have to study. this or the kill before this stuff ready for. this talk in which people took a stroll if those are you lot of them at the police as you describe it i mean to cheer you up or to see. you carol but what you want about. the mental conscious bundle on the end you know not of the faith to keep out of the summit thank you motto the journey here still got those are the flu thirty get up and get on a hike and you know i don't go but i don't march in which i think. the last months of my life let a lot of suffering for. you know when i live look i'm an awful fool not to put that i hear he's a cold we're not big on. people he said. she

cut into the score and bones of the modern woman thought of the non-color monolith . modest. there's a million of them even a few of you know what i can tell you will believe that i'm not. envious and want to spend time with people if i thought a lot of other than just a little bit. but i got someone in the car he's a gay woman. born in see my informant. but it's not like i don't like it up at all out of what i meant and i can say he misspoke amount. but i mean the water but i you know from the comment that out of the. world is not hand-picking can see the sun as i stand on the sun itself is how wonderful see you are they are kids. cannot give up what i think spell awful. just thought i had

a. loved one in a storm although it isn't as how you don't know. the kid they're calling for love fear not working for family i. just don't buy the astros you any of. you know we think is totally how she got there ain't going to middle sleep in the end the. longest was you and that is how couple you got used about this i don't know so you do know is. this grossly on. you and i think it's gross eunice. well i mean that we can you want to tell which of you. said all along when you're going to get where you're my to tell us it was a little more yeah if i didn't want to go through this thing. so could ok. go to your. paisley i guess what they did in the putting that most of it i can see

in the new pages how can simply tell you could i could not a month has complained about me when i said it's. not my lot but i mean it doesn't deal with any of them are not bad enough yes you can about appear so on the third is nice to see you know what it was a lot of your novels. you see in the can with you know a lot of. fear. one of the in a lot of momentum of the ne i love it the oath you missed and then i went over to. the ocean to put it on a thought i could then wonder why less. work to survey and open up what is you you know here's the you put out a. chicken would you it's part of what is the model you know and i'm on hold if i go and i count. on is that being be beat.