relations between italy and france hits a new light of day sleeves interior minister calls on the french people to get rid of president mike wrong. venezuelan president nicolas maduro orders a total revision of his country's ties with washington off to the u.s. vice president called on the opposition to take power. the russian foreign ministry responds to new revelations that the first person on location after the poisoning of former russian spy it's a good script was a senior u.k. military doctor. for the latest on these stories head to. stay with us a for the financial news in the kaiser reports.

howdy imax kaiser this is the castle report. let's see what stacey has kersley i just want to point out we continue our gonzo maxim stacy journey across america episode three a very temperate series aired just sunday night and i defy anybody i'm not going to gamble or bet any money but i'm going to just bet you the truth and that is that there's no better content on any cable news channel in america that basically explores a lot of the important ideas and cultural and economic realities happening right now in america oh yeah no so on sunday night you know it's building a huge audience because people are starving for something on television that is

fearless because when they watch rachel maddow they see someone cowering in fear oh oh oh oh oh oh or they watch c.n.n. a wolf blitzer they watch people who are fearful they're fear based this is america become a nation of scaredy cats for an hour well in fact that's just on cable news if you watch gonzo you'll find out the in fact the opposite is true that we discovered people who are quite normal and not afraid even of ghosts wandering around half of america know exactly but if you watch the fricken t.v. it looks like a nation of scared scared cats because it's fake news and it's misrepresentation of the people now i want to turn to a headline here about one of the billionaires an american that sounds l. he's a multibillion air all made mostly on properties a very famous property developer and billionaire sam zell buys gold for

a first time in. bet on tight supply quote for the first time in my life i bought gold because it is a good head sam zell the founder of equity group investments said in a bloomberg t.v. interview quote supply is shrinking and that is going to have a positive impact on the price right now you know it's that during the downturn in prize mining has dried up no new supplies coming on line supplies demand is still very high and it's growing specially in the central bank level so you've got billionaires now along the central banks and into their gold positions and you have very little supply out there if it peaks gold the cost out actually extra explore and to extract gold as is it is not only gold left essentially in the earth's mantle i predict as i've said before that once the central banks find it difficult to buy any gold whatsoever they're going to start buying bitcoin and bitcoin to their strategic reserves of course russia's been rumored as a possibly the first to go down this path and we don't know the details but one of

the major social banks will start putting because it along with gold into their strategic reserves and this will set off a mad scramble for bars gold and bit coins as sam zell of course he's a property developer he invests in property which is an asset class it's a similar more similar to gold than say a derivative so it's you know he invests in hard assets and this is the first time he's investing in that and the price he reckons has to go up i do want to point out that tyler jenks who we interviewed at the top of the year did predict that gold would go to six hundred so either tyler janks his right or sam zell is right i'm placing my money on sam zell understanding supply and demand right well the tyler jenks camp is betting on a dollar going to back to the very top of its range and that the dollar will triumph and we'll still in a highly deflationary global economy i mean there's

a case to be made there but. there's de dollars ation going on and there's the globalization going on and we're seeing us scramble for safe havens and gold is a safe haven because of the loss of confidence in fear of money particularly in the u.s. dollar so we have hyperinflation is a loss of confidence in that term sea and the u.s. dollar is primed to be jettisoned now i want to go through two interesting tweets juxtaposed next to each other which will tell an interesting story you know our government is shut down but it doesn't stop money here's a tweet from catherine rampal of the washington post and she says trump's tariffs on steel raised u.s. steel prices by nine percent higher prices will create eight thousand seven hundred steel jobs yet for each new job still firms or earn two hundred seventy thousand dollars of additional pretax profits and still users will pay an extra six hundred

fifty thousand dollars for each job created so here we have the u.s. government essentially tariffs have created but eight thousand seven hundred new jobs at a cost of six hundred fifty thousand dollars per job now at the same time a tweet went out from. europe from a german guy who said fourteen trillion dollars in monetary and fiscal spending since q.e. began has created about thirteen million jobs in the u.s. that's a cost of one million dollars per job created deutsche bank has calculated so in fact since trunk came in after fourteen trillion dollars in monetary policy stimulus has been created. he's reduced the cost of each additional job by bureaucrats and central planners so it's only six hundred fifty thousand dollars a job now rather than a million dollars that's

a central bank job creation cost right well you know the choice made by policymakers and bankers is clear they can create asset bubbles like fine art and ski chalet zone apartments on park avenue or they can create wage bubbles it each one has a process and minuses but because people make a wage are don't have the ability to influence congress because voting is not required because taxes are not required the tax money collected in america is roughly three three and a half trillion dollars is not really significant and a quadrillion dollars global derivatives market where central banks print money out of thin air they don't need your tax money just like the saudis don't need the voters or the participation of the saudi arabians erika's the princes just pump more oil so they could have just of easily created a wage bubble you know wages are going to go to thirty forty fifty dollars an hour and we could've said oh my god there's a wage bubble and the economy is growing by ten percent

a year and you know we have an incredible all the rich middle class but they decided no i don't think we'll do that because that doesn't help us personally and we are monarchs and charlatans yet i might add that saudi arabia does not have any voters they have citizens and residents there but they don't have any voters despite our close relationship with this wonderful absolute monarchy. you know i did tweet responding to this deutsche bank data that said thirteen million jobs created at the cost of fourteen trillion dollars is you know they could have just sent thirteen million american households a million dollars and you know you would have created thirteen million new millionaire households in america they're going to create and they could have done that via the minimum wage. and just created a wage bubble right and said instead of bailing out and giving bankers on wall street trillions of dollars to play with and then not have any risk to risk less

money they could have just given to wage earners i mean what had an interesting impact on the economy but they didn't because why would why would they there they why not print them for themselves and of course there's about a little bit over a trillion dollars one and a half trillion dollars in student loans there's about a trillion dollars in credit card debt there's maybe seven trillion dollars or less in mortgage debt so they could have for half of that they could just wiped out all those debts saddling the economy that's the choice that obama made and now now finally i thought tweeting about this finally people are beginning to really regard the obama years as a horrible sellout to wall street and that he orchestrated this bank bailout in two thousand and eight two thousand and nine and created this horrible economy bifurcation and wealth and income gap that is now tearing the global part and causing social unrest the liaison and torching and fires and riots and it's why

hillary clinton lost that's the important story in america because it's caused a huge cultural breakdown it's caused a mass delusions a cause mass hysteria on cable news and vanity fair is the one that just wrote a article a long piece suggesting perhaps we democrats need to reconcile our reality with the fact that obama was a really great guy he was a fantastic or answer but the fact is he was a bad leader he was not the leader that we needed at that moment because he was elected on this huge wave of hope and what people were expecting was radical action they wanted these bankers held accountable for what they did over that's why being a journalist is no fun because at the time we pointed this out and we got a huge flack from. the liberal consciously aware consciousness will win you know the social justice warriors like obama you can say that about obama he's

a he's on touchable well known now the finally after a few years we realize it was horrible presidency and we said it about trump that he was probably going to get a lot more votes than people anticipated just by by because we're journalists and we saw him reported on what we saw took a lot of flack for that that's why they want our content taken down from you tube because there is content from us in two thousand and nine and two thousand and ten and you could just again juxtaposing coverage compare us to m s n b c compare us to c.n.n. and what we were saying at the exact same time it's way back in history we can't go change it that is there the evidence is there for you to go look at and see who is right in the long term and who is wrong and i think we demonstrate now a lot of people it's good that vanity fair is capitulating in the saying well maybe kaiser report was right maybe kaiser for it had it right at that time and we should have the people wanted radical action and if we weren't willing to give it because

remember hillary campaigned as a continuation of obama's policies but even more aggressive and more violent around the world that she would have been a bigger. you know you know toxic masculinity essentially that she would be more toxic masculinity on the wall stage and bomb more people and drone more people than obama but that she would continue what his policies were towards wall street she she went out there and campaign like that and bernie sanders and then trump stole bernie sanders speeches to the people of michigan wisconsin and said i'm going to rip up these trade deals i'm going to end nafta i'm going to like arrest bankers everyone loves to think that there are having this enormous impact on reality with their opinions but it doesn't work that way reality is. asserts itself you know read the regression to the mean it all evens out in the wash and journalists report on the facts as they see them and that's what we did in two thousand and nine and now finally people are recognizing that you guys are right

you guys are right because it was a dollar and you guys are right there's a global insurrection against banker occupation now we can look back ten years and say you know you're absolutely right and then of course they'll say well you were lucky enough but no now we're just done journalist that's what our t. does we do journalism those other guys do opinion and propaganda we do journalism ok i mean i know i realize it's a strange concept that american vesta gave journalism is not really acceptable anymore and facebook was a weeded out of your feed but that's what it looks like was that quote on wall street about opinions only many has an opinion but the market always proves who's right yeah i mean the market can make people opinion guy started why did you ask me that i'm going to think about it during the break and when we come back i will of forgotten completely about it and so will you so stay tuned don't go away.

seemed wrong. why don't we just don't call. me. yet to see how he's going to come to council. and in detroit because the trail. went to find themselves worlds apart we choose to look for common ground. those who want to know most of the best will be in yours and you know it was notable just made a little money but really you know. we have some ways the ways that i did my best

judgment of the wife and. look. the same you see you. know one of those little. school kids. now you know everyone knows the phone. number. i've been saying the numbers mean something they matter the u.s. is over twenty trillion dollars in debt more than ten white collar crimes happen each dish. eighty five percent of global wealth he longs to be ultra rich eight point six percent market saw thirty percent rise last year some with four hundred to five hundred trade per second per second and bitcoin rose to twenty thousand dollars. china is building a two point one billion dollar

a i industrial park but don't let the numbers overwhelm. the only numbers you need to remember in one one business shows you can't afford to miss the one and only. welcome back to the kaiser report i'm max keyser time now to go to craig have t. ask metals report craig welcome back. it's always a pleasure to visit with you and stacy yeah well you know i saw something on the news that really got my attention and i want to talk to you about it you know sam zell otherwise known as the grave digger who is the quintessential quote con kwan contrarian investor just came out and said for the very first time in his life he's buying gold what do you think of the. well first and foremost i'd like to know what

kind of gold he bought. if he's just playing the druckenmiller game of buying shares of g.l.d. then you know as we all know we don't know gold all he just own some certificates and you know it's not really physical metal if he's actually buying physical metal he's a genius. i've said all along i mean if the russians the chinese and all of these sovereign governments that whole dollar reserves are converting their dollar reserves into some gold why should their body else so good to hear would welcome sam to the party and hopefully he's a subscriber to my site oh yeah i'm sure is but thinking into his thesis about this you know he points out that during this bear market over the last four or five years a mining industry has quit basically they're not mining a new goal the supply of gold is dried up meanwhile the supply is still booming as you point out central banks are big buyers of gold china and

russia are buying it by the hundreds of tons and you know now are seeing these billionaires move into the class sam zell is not the only billionaire who's suggested that they'd like to start loading up on gold so the demand is there the supply is shrinking and you know that seems to be the recipe for higher prices correct. yeah american just about any other normal market you'd think so i mean that has always worked in bitcoin forthright every time they they have the future supply of bitcoin we get a nice rally and i'm sure that's coming again unfortunately in the markets that we've had that set the price for gold since one nine hundred seventy five minutes all alchemy right there is a small amount of physical gold and then as you support out the amount that gets mind every year seems to be decreasing as mining costs rise but the dollar price goes sideways but what most people loan and what we just referred to are sam zell is some type of gold derivative whether it's a jail d share or an allocated

a counter or a you know did in it all these other types of alchemize gold that have been created by the banks of the last forty years the key to this eventually is resetting the system so that price determined some type of physical exchange we're not there yet but you're right supply is declining mind output is stable at best while demand is increasing normally that would lead to higher prices i think this year as we go forward higher prices will be more attributed to the political environment political risk geopolitical risk fed policy things like that rather than minds of a lot oh all right ryssdal a that in terms of the precious metals market twenty nineteen as looking a lot like twenty ten now remember back in twenty times silver was up toward fifty dollars an ounce can you kind of elaborate with what your thoughts are there well in a try to carve this down make keep it as brief as possible but you know twenty ten

was a year that was when we began the year was all about green shoots of the economy member that narrative being shoved down our throats and actually the g.d.p. growth like two three percent the second quarter and q.e. had come and gone it was supposedly a one off you know when everything was was looking great but however by late two thousand and ten. we started to get rumbles of in the actual beginnings of q.e. two the dollar began to fall dramatically as people saw things weren't fixed at all and that was when gold and silver really began to take off i had to get a similar situation our body recognizes that the u.s. economy is slowing political career risk is rapidly growing that was a big driver twenty twenty eleven we call was the ratings downgrade by the s. and p. debt ceiling debate government shutdown all that stuff in the summer of two thousand and eleven and we're headed right down that path again fitch this week was talking about downgrading u.s.

credit rating and so a lot of there are a lot of similarities you know the old adage is history doesn't repeat but it rhymes well markets you know they obey natural laws many regards and in nature things go in a circle you know planets go in an orbit and the seasons come and go and things go up things come down and markets are a subset of nature and that's the idea of us returning to a bull phase in the gold market is complete really consistent with five thousand years of history of monetary history and. it seems as though we're ready to have new all time highs and gold you know because for all the reasons that are just getting into i think you know to refer to your previous point about the cartel who like to keep the price under their thumb bice flooding the market with counterfeit cell orders and there's no law against that that's being currently. you know

enforced you know there are laws on the books against counterfeiting sell orders but there's nobody enforcing those laws and they've been allowed to get away with this like they've been allowed to get away as so much crime in the banking sector and that's why they've paid over almost three hundred billion dollars in fines recently you know it to cover their tracks and to pay off whatever they need to pay off for their. criminality but just like bernie madoff you know the time when the time goes out and we see who's not wearing a bathing suits as warren buffett has said and the tide seems to be going out on us dollar global reserve currency the world is de dollar rising the world is dig lobel izing and if the dollar doesn't have a bid then there's a rush for a safe assets there are there is gold. well max you brought up two important points one regarding the dollar we always quote the dollar price of gold and the banks and central banks are obviously concerned about the dollar price of gold because the

dollar is still the world's reserve currency when you mention though it going to new all time highs in dollar terms it's already at new all time highs in australian dollar terms very close to new all time highs in canadian dollar terms you look at the indian no rupee the iranian ryall you know you name it gold is doing exactly what it should be as the currency is devalued and be the dollars turn in the barrel again before too long and at that point you'll see gold in dollar terms go to new all time highs to your second point about the banks and corruption. over but since middle of december we're seeing gold rally forty or fifty dollars which is you know decent we'll take it hey that's three four percent however the same time period and we mention this alchemize gold this pretend gold that gets created on the comix alone there have been about one hundred ten thousand one hundred twenty thousand new contracts created and fed out to the speculators i want to buy gold exposure

max that's like three hundred twenty five metric tons of make believe gold that's been created from nothing in a month that's why the comix price hasn't moved because it's like diluting the float of an equity you know and we all talk about you know how the stock market's been kept afloat no pun intended by corporations buying back their stock what they're doing is they're shrinking the flow reducing the amount of available supply that makes price go up if you dilute the float by a company say issuing a bunch of stock to buy a rival that typically causes the price to go down because you've got more supply that's exactly what the banks have done with comix contracts in the last month they've increased the flow by twenty five twenty eight percent i think this is probably the most misunderstood under. information about markets precious metals markets because this idea that well forever buyer there's a seller is false. in these markets and. in the

precious metals markets you know you mentioned stock buybacks by corporations they used to be illegal for a very good reason before the crash of twenty nine it was illegal i mean it was legal then they outlawed it because you're you're you're cooking the books essentially thing counting fraud when a company buys back its own stock when apple buys back its own stock that's an accounting fraud and but then they made that legal under i guess bill clinton and he overturned a lot of the rules and regulations that kept abuses out of the marketplace in the case of selling counterfeit. gold. that is illegal but there's nobody in forcing those laws the f.c.c. or the see if d.c. or the regulatory bodies they they believe that it's in the greater interest of america somehow to allow market insiders to

flagrantly break the law and to counterfeit these lawyers because they think that well that helps the dollar and the dollar is the only thing keeping us from the barbarians you know they they watch the c. and b. c. and the m s n b c's of the world i'm sure you know the f.c.c. in the sea of the sea they watch the cable news programs and they're transfixed and they believe that america is under attack and the dollars under attack so we're going to let a few guys on wall street pocket billions of dollars by counterfeiting cell waters and of course in the end doesn't work because you become hoisted on your own petard and you are risking the america as an enterprise i mean you know i am a gassed at this because it is essentially destroying the country because of myopia. anyway so these.

souls go forward here. take a silver as looking fairly constructive but it's a lot like gold of it in the markets are managed the same way and max think about the lunacy of that i mean that the price the physical price is determined through the trading of these derivative contracts that are created by the banks from nothing backed by metal that they don't have and metal that they never intended us to deliver and these contracts are bought by speculators who also have no intention of ever taking physical delivery they just think that the dot on their screens going to go higher i mean you could call it anything you want you can you know you can call it oranges you could call a baseball blood doesn't matter they're just simply trading these contracts back and forth they're not at all related to any physical metal you know either gold or silver but that's what's allowed to determine price and it's lunacy and it's

indicative of all the other lunacy that we deal with whether it's the plunge protection team interventions keeping the stock market afloat quantitative easing keeping interest rates low in the debt of twenty two trillion dollars that it's stated that nobody seems to pay attention to nor care about i mean this is the world we live in and it's something that you know like you said eventually just unwinds and crashes under the weight of economic reality the silver market you identified up act in two thousand and nine in ten for the fraud that it is the fact that it was down it fifteen dollars sixteen dollars an ounce is is just crazy and i think anyone who patiently takes actual physical silver off the market puts it in their safe going to be richly rewarded and craig will have you on for a second segment but how can people find you get to follow up on your work there yeah max max just hit us a tip metals report dot com kaiser report watchers and viewers can use

a coupon code of max out twenty nineteen to get half off their first month that's a great deal all right well thanks. so much for being on the kaiser report that's going to do it for this edition of the kaiser report with me max kaiser and stacy i would like to thank our guests craig empty of t f models report if you want to catch us on twitter as kaiser reported by all. politicians to do something. they put themselves on the line they get accepted or rejected. so when you want to be president. wanted. to go right to be close this is like the full story in the morning can't be that. interested always in the waters in the. city.

you know world of big partisan movies a lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.