well you don't put up. the. oh. i was. going. to appear to pull psycho. wall enclosure we're going to produce a. month . or so to the pacific as this is the lows to stop the top portion of the show horses. i am extra this is the kaiser report show their kids are very well

known to others do we are right i like that word to keep it real because real and fake are in the news and i notice you may have missed identified yourself there in that opening when you said your max kaiser because i you actually max kaiser or are you so toshi not come otoh tell me more here's the headline max kaiser claims to be actual bitcoin founder just another fake toshi and before we get to your comments on last i want to show you how it reads because this story right here they actually have you could read the youth of the story read to you by a computer this is what it sounds like quite funny another person this time max keiser at the keiser report has claimed to be. if you were crypto market regular you would know how many people have tried to claim they are said to she nakamoto the anonymous creator of bitcoin well i don't think there's any question really

about my place as the genuine article the genuine soto she the real she it's it's channeling you know i mean especially in this holy week this this religious wake there is the concept of bit christ and the who represented christ on this plane of existence and so toshi is part of that talked about it many times that there's this new revolution coming a new cosmic reality that bitcoin is ushered in the hash rate is obviously quadrillions of hashes per second that's sharing in a new cosmic reality obviously in case those out there listening don't know it's not the moto is the name of the person who invented big queen back in two thousand and eight and that person has remained anonymous but many people have come forward claiming to be so toshi nakamoto including one that goes by the name of fake toshi unwillingly so he doesn't want to be called fake toshi and however the community

calls him fake toshi this article is quite funny because they kind of are not sure if you're joking or that you might actually reef nakamoto there have been so many of these probable imposters that we have gotten tired of taking them seriously but for what it's worth the newest claimant of being so toshi nakamoto does deserve some acknowledgement for coming forward and laughing at other so she imposters the american broadcaster might simply have been joking however taking a dig at craig wright and others who have made earlier such claims and then they reference your patent for the virtual special technology on how it stock exchange while no one can prove that i'm not fake toshi i'm not so toshi they toshi is clearly not because i know that i am therefore he cannot be right and i know and can say but i'm not and i actually have made. my patent that goes back to virtual currencies in one nine hundred ninety six that isn't the press the the antecedent

the precedent then that became bitcoin and cryptocurrency and there's a lot of information between ninety six and two thousand and eight when the white paper was published there's a lot of missing gaps i've never revealed those missing gaps i know there's a lot of bits the story that have never ever been revealed only i know and speaking of rising again kudlow says interest rates may never rise again in his lifetime which is interesting in the context of this time of the year of easter because what he's saying is that the economy is well and truly dead and will never rise again if interest rates never rise again that suggests that they economy is over caput and it's never going to come back that's an excellent point the interest rates are part of the ability of the central banks to manage in the economic reality for all that is not too hot not too cold right they're trying to manage the economy

there they're not allowing market forces to dictate interest rates they come in as a command and control as a poll of bureau as a centralized authority to try to create this ideal you know steady but slow growth scenario but starting a couple of decades ago really starting after the crash of one thousand nine hundred seven with the plunge protection team this idea that the fed in and the idea of managing interest rates is the most important aspect to the economy it's not supply and demand wages it's not output it's not manufacturing not profits none of that matters anymore it's just about creating the illusion of wealth by giving away counterfeit money as the fed does and donald trump has been tweeting things spectacularly. off the mark these days but saying things like the recent quantitative tightening was a mistake we need to drop interest rates now the stock market to be five thousand

to ten thousand points higher there's that that is so far off the mark that's so far removed from reality that i really have to start questioning his sanity now in fact history is this next headline if the fed had done its job properly which i has not the stock market would have been up five thousand to ten thousand additional points and g.d.p. would have been well over four percent instead of three percent with almost no inflation quantitative tightening was a killer should have done the exact opposite fitting with this theme of rising again and rebirth our economy of course was has not been reborn since two thousand really since the first financial huge financial crisis caused by the dot com crash and then the two thousand and eight crash and basically the economy and all the participants in the real economy all those workers and wealth creators basically their jobs and their wealth died for the sins of wall street and this set

up of focusing just on stock prices and how many derivatives have been written in order to back jamie diamond's annual you know bonus so the stock market as a measuring stick one uses price earnings ratio right the price of a stock relative to the earnings that a company makes and that's a standard guide to determine if a company might be ahead of itself in terms of the price over earnings right because there's there's a thing called earnings and without that earnings number you cannot come up with a price number that makes any economic sense so what's been going on is that the central bank has been allowing. the fortune five hundred companies to take money from the bank at zero percent interest rate an unlimited quantity trillions of dollars without any cost or interest rate

to buy back their own stock thus reducing the number of earnings in terms of applied to the number of shares that make it. to hide the fact that there has been no earnings growth in fact earnings having been have been falling. so but the stock prices have been going up by buying gauging in price manipulation by engaging in a massive fraud enabled by the central bank and so trump is saying let's engage in massive fraud i mean i don't know if you're going to touch on the boeing in the rebranding story he suggested that boeing they have a an airplane that should be a recall because there's a perk there's a problem with the airplane it's crashing trump suggest just rebranding the plane don't call it a max anymore call something else so he's like his solution is always engage just

raise the bar and gauge and more fraud double down on the fraud and of course that has this limitation it can only go as one very predictable and well stock prices are easily manipulated through interest rates to share buybacks to other things like that and that's why they they've created this propaganda nonstop that that's where you look look at the stock price and that tells you the economy doesn't matter if all your children have no jobs and no future and hundreds of thousands of dollars of student debt and your husband is you know near dead on opioid addiction you know that matters what matters is the stock price that's doing well you mention earnings and that sort of thing but here is again part of this crazy economy which will never rise from the dead i confess that i am totally unfamiliar with this type of business model this person is looking at that from b.c. we may never achieve profitability of course he should be familiar with this

business model that's amazon's business model on amazon is one of the highest stock with the biggest companies in the world jeff bezos is worth well now only one hundred ten billion dollars but you know this is that business model of all fakery no real they don't want to pay taxes that's a problem with reporting profits as bezos has said he hates taxes he has been. purposefully reporting losses for a year or so to avoid taxes he has recently kind of changed over in the company is reporting some profits every now and then but this is the economy based on the porch of the dorian gray so in the main salon are the stock holders who are living in a parallel world of everything is constantly going up they never get old they never have a down day j.p. morgan never reports a loss on their trading desk they have all kinds of ways to make nippy later earnings on a day to day basis they never have a loss they never take any risk they never have any aging meanwhile in the attic is

the real economy is the the gen average american is dying prematurely the life expectancy is falling into mortality is rising the opiate crisis is killing more people a year than we lost in the entire vietnam war every single year we're losing that and that's the upstairs the portrait of america's decaying and turning into this garbage but meanwhile the trump in the you know they're dancing on the salon with free money all day long and it's obviously it's a tragedy again trump is always saying we have to cut interest rates we have to cut interest rates everybody tells everybody in the audience watching looking at twitter looking at fox news is look at interest rates look at interest rates and that's where we go but this is because based on an old theory in economic textbooks from the neoclassical times or olden times in a textbook in an ivory tower in an ivory tower and that is that if you cut interest

rates that banks are going to have more of the money to lend to companies but banks don't lend to companies to invest in for future production they lend for property and they lend first share buybacks and that's all you're ever going to see political fed rescue the world like in two thousand and eight draggy worried about central bank independence and other countries especially in the most important jurisdiction in the world. so mario draghi the outgoing head of the e.c.b. has recently said that you know he's worried about trump intervening in the fed's independence but this chart shows you that the e.c.b. assets to g.d.p. is now forty one percent versus the u.s. so they're just wondering if the eurozone continues to say because the magical money doesn't help their economy and it's actually shrinking their economy they way they set up their have a debate clear when they say assets on their books or if they're referring to bonds that they price at one hundred cents on the dollar but don't have a sale value in the market greater than maybe one penny on the dollar so again

that's the portrait of dorian gray economy all these quote assets on the central bank balance sheets if you add it all up i think the central banks and touch have something like fifty to fifty five trillion dollars of what they call assets that might be worth mcdonald's hamburger when you add that they have no collateral value whatsoever worthless that's a fact fight me all right we're going to take a break when we come back i'll be fighting the entire world don't go away. is it finally over have we finally reached the expiration date of the russia gate conspiracy hoax probably no by definition conspiracy theorists are never satisfied but a few things are for sure confidence in government has taken a hit and the reputation of the media never.

this good word her. sons were for books with just a deal to everybody you suppose. you can smoke this is worth fifteen thirty. twenty. this is about a fifteen people smoke this one figures. you can find these drugs in any city any united states that you want and long as you want to get it. and make money. and that's what.

welcome back to the kaiser report i'm max keyser time now to go to wolf rick during wolf street but cohen wolf welcome back thanks for having me back my x. wealth rector larry kudlow drama trumps chief economic advisor says that interest rates will never rise again in his lifetime this is saying that this economy is dead and will never rise again all for well maybe he's saying several things you know i don't know about his life expectancy but i doubt that interest rates will ever rising in that sense we are in a period or low interest rates seem to have been fairly well established. if lation this super high right now the federal funds rate is about the rate of inflation as measured by c.p.i. so when that point of view you know. you can say that interest rates are about or they need to be kharkiv in current inflation but never is is

a long time and. so i don't want to totally buy into that never but right now i think interest rates are bad the short term interest rates about where they where they should be yeah right here are like interest rates are above. the consumer price index as if the consumer price index meant anything to anyone and at this time we know that the consumer price index is understated by a least eight hundred basis points at least eight hundred basis points and for a normalize interest rate environment we would have six seven percent on the short rate that would be called capitalism in america but we don't have that anymore do we wall for ever declining interest rates for thirty years of help this pyramid scheme. but of rates remain low and can't fall further so what

happens to the great who's the greater fool what is going to come and buy these things next week i'm trying to think now about the european central banks pretty chock full of garbage the federal reserve is china who's going to be next the i.m.f. is christine legarde going to create a hundred trillion dollars credit facility to buy all the central bank garbage wealth actually there's a lot of demand for these treasuries right now and that's why. the yields are so low and you know americans buying treasury securities. amazing american banks are buying them american individuals of buying them while foreign investors are loading some of them it's you know it's a very popular investment right now in the u.s. on the. one month treasury is two point four percent and you know that's where people have been bludgeoned by syria percent interest rates you know that's a that's a big improvement and you know your pains of buying them if they can afford to

hedging their currency hedging so there is demand for these things and you look at the ten year treasury right now it's you know it's well it's two point five five percent a sometimes of yield that's because there is you know people nuts yeah i think that's buying it at this you know because you know ten years a long time and and i doubt this will turn out to a good deal but there's a lot of demand for the stuff i get that having two point four percent in a way or treasury is better than having a zero and wow it sounds like people that have retirement accounts and savings accounts that we're getting close to zero now they're getting closer to two point four percent that's great boy that's fantastic how come larry kudlow isn't happy then how come donald trump is on happy why does he only work for the speculators and not for the bedrock of capitalism this savers without savers there is no capitalism without capital wolf why is larry and trump so again. it's the american middle class well this is probably the most pro wall street in pro corporate

america ministration in my lifetime so it doesn't surprise me at all now that banks don't really really benefit from super low interest rates so it's really you know it's corporate america share buyback companies that buy back their own shares massively and borrow money to do that it's the real estate industry there's a lot of industries that benefit from interest rates. you know savers obviously don't and you know you're looking into nine trillion dollars in savings in bank savings products you're looking at trillions of dollars in u.s. treasuries that they have squirreled away. in corporate bonds to you so they're obviously they've been bludgeoned in and any little improvement you have to get beaten up for ten years every little bit of an improvement less of a beating you know it just helps out of the beatings will continue until morale

improves you know the story here i should mention that we have some traffic noise coming on here and of the broadcast unless you're being transported in on the highway in some kind of special purpose vehicle to an undisclosed location as usual off your very mysterious map now let's get your view on the property markets in australia and canada they seem to be cracking how how bad could they get wall well this trading market that's the one that i think will eventually cause a financial crisis. it's it's going down faster and more sharply than anybody expected it's facing a combination of headwinds that include the banking system and. in that case australia is a little bit unique because they had the royal commission investigation into the banking shenanigans started a couple of years ago and they found all kinds of malfeasance and wrongdoing and so . they're cracking down on on these activities that cost the housing bubble in or

helped support it in the first place so not creating credit is getting tighter now straight to the banks having to straighten up the act at least to some extent and you know investors speculation has been curtailed because interest only loans have been regulated a little bit more tightly because of all the issues take em out so no strain just facing essentially a banking problem it's facing that credit problem home prices are so high that people can't afford them anymore so they're facing that problem and the chinese investors the plight of a large row in australia they're pouring out so it's a combination of things and. if it's already warned about that australian financial system so it's something i think that will in terms of which country is going to cause a financial crisis first on top of my list is straight here now canada. is not quite in the same position you know their banking system is still coddled by

regulators and. is being you know continued to be supported by regulators in every possible way now their home prices have started to turn down especially in vancouver into maine coon market just froze up i mean there's hardly any transactions going on any more detached houses you know the sales are down to where they were in the one nine hundred eighty s. i mean they have bias in sallust so far apart that deals don't get made. it's at a point or you know something has to crack for this market to unfreeze and in won't just have to see right now there's no for selling it. and prove it so that that pressure is not there yet but we might see that eventually it's interesting they mention australia could be the pin on the grenade that blows up the global economy this time i don't think anyone else has really made that point as such so if that's the case he will go on record as being the guy. all that so kate well we'll revisit that at the appropriate time now has filed for its i.p.o.

you read the disclosures and they're filing wolf what can you tell us about the business it's a money losing cash burning business we know that investors so far have subsidized every ride the cheap prices that passengers are paying them and i've been a cheap anymore especially on the surge pricing but whatever the pay has been subsidized by investors now this is now becoming public we're seeing some of the numbers in the huge. three billion dollars over the last few years and in the last year you know it's issued huge losses you know and all the way through and it's not going away so they're also having other problems and you know they're facing. just a slew of legal issues their drivers. you know their their consumer contractors data that is and attacked and you have feels like if they have to be employees then

its business model is endangered you know really counting on on the autonomy vehicles to get rid of the drivers get rid of that expense but that is not progressing as rapidly as that hope so i mean there's all kinds of issues of that company go public at a valuation of ninety two hundred billion dollars that's a pretty daring move forward basis to pollinate that at that valuation. last time. it was it like seventy six billion dollars and you know i mean these companies that don't make any money they've been around for ten years still haven't figured out how to make money. in the disclosure said that might never make any money now how much is a company that works and why should investors keep subsidizing it i mean that's a big question right now these things are working at some point they won't work have cash flow you know and then the market. rewards for evidence is even though

there's never going to be any profits but anyway the year make you mentioning that in both the case of goober and whole foods the companies in order to remain viable will have to get rid of all other human workers and go fully autonomous so what happens to all these humans that are littering planet earth what how do we get rid of them when automation. is a real problem in that respect and obviously it's always been a problem and a lot of manufacturing jobs are going away because of automation over the past many decades i mean that's sort of an unstoppable thing. for in terms of the profession being a driver that is still in the very distant future i don't know how many years but so far you know that's the drivers have not been automated away but you know on of other profession have seen automation is this it made. their employment doing includes research legal forms for example it's not done by computers used to be done by young or is it being hired you were hired in point all nighters you know

that's done by computers today it's every word and eventually drivers will be impacted but not just yet let's talk about netflix for a second so there are a lot of that that trading at a very high multiple the earnings desis got a new streaming service coming on you know netflix model has been to just load up on all the debt they possibly can and to kind of put everyone else out of business but the studio thought it better than i would certainly or try to go by controlling the content is that a sustainable model here with netflix you know they're burning a lot of cash they're showing income but the burning cash and so. that tells you. you know they're they're investing in something in there and they're there content and that's something that content needs to produce a lot of income in the future and i think that's a big. big risk i mean i don't know how much demand is for you know five year old

or ten year old netflix in the future how much people will be paying to watch them and if that demand for this for this content isn't there that they're creating today you know they're putting all this money in the shows today and you know if if it needs to pay off over the next ten or twenty or thirty years and if if these shows don't create that kind of demand in the future you know that cash flow one of gone into the garbage can and. it will eventually come to haunt if it's not if it turns out that this was an investment that reduces a lot of cash flow over the next few years it might turn out to be ok. i don't see that but that's that's i guess to hope ok well for a thanks so much for being on the kaiser report thank you max and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert if you'd like to get in touch with us please go to twitter and look up kaiser report

until next time by. eating soon. as i live eat good health and. need. ruhani you need. a deep. we have many things in the smiles and this is you know. why some people's minds so take our thing all the power just for them self interest.

facebook and google started with a great idea and great ideals unfortunately there was also a very dark side. they are constructing a profile of you and that profile is real it's detailed and it never goes away turns out that google is manipulating your opinions from the very first character that you type into the search bar it will always favor one dog food over another one comparative shopping service over another and one candidate over another they can suppress certain types of results. they think you should be seen if they have this kind of power then democracy is an illusion the free and fair election doesn't

exist the more we give them the sooner we all. russia calls on the usa to disavow its allegations of election meddling in the wake of the report the embassy in washington releases a one hundred twenty one document debunking claims are going to fail it's. democrats keep up the pressure on the president after the report the spalls two years of media speculation on trumped. no collusion no obstruction that president trump engaged in obstruction of justice certainly obstructed justice multiple attempts by the present to mislead the country. back to government in libya accuses france of supporting the rebel forces in a conflict that has killed hundreds in the past few weeks. by

nightmare or ground.