adding to all the crazy monetary policy tools he's deploying and of course i just want to read quickly these headlines from dow jones market watch just say you can see the environment in which we're going to cover the headlines u.s. economy gains just $75000.00 jobs in may as wage growth flashes a warning signal with 3.6 percent unemployment but one 3rd of americans say they need a side gig to pay expenses and then investors are so bearish on stocks it's about time to get bullish says bank of america merrill lynch which is quite odd because of course stock markets are far higher than they were and the lead up to the 20072008 crash and as you point out there's 2 days there's j. clayton jay powell jay powell over the fed but clayton one on a mainstream media recently and claimed that you can't have a be big coin e.t.f. because you have to solve the manipulation problem j. clinton over at the f.c.c.

oversees the the greatest crime spree and market manipulation spree ever in the history of the world he's a racketeer he's basically the john gotti of manipulation and he should be in jail and and punished severely for everything that they said they a lot of banks pay constant fines that was just a fine this week paid my 91 $1000000.00 by the 4 x. market riggers so rigging is part of the economy and that's part of the financial markets so without broad there would be no stock market is that you can't seize a fish in a fish bowl yes so surrounded by for you can see the fraud bitcoin will get rid of jay clayton and the f.c.c. thank god because they're horrible and yeah you know they melt up in the stock market is well underway and to say that stocks are some people are bearish on stocks this is new speak from 1904 you can't have people are bearish on stocks while there it's hitting new all time highs and trading adjusted for stock buybacks it's never traded at a higher price earnings multiple in history not even in $1029.00. were stocks

trading at this high of a price earnings multiple and they are right now adjusted for jay the illegal stock buybacks there is actually an e.t.f. which is just launching for a trade war situation trade war e.c.f. so you can bet on that but that relates to this 1st headline here druckenmiller dumps all his stocks piles and treasuries expecting rates to hit 0 this is standard or who used to be the chief strategist for the quantum fund you know soros is fund so he's considered you know a great stock picker he certainly did well for george soros he sold all his equity portfolio and he's gone long treasuries when the trump tweet went out he said i went from 93 percent invested to net flat and bought a bunch of treasuries duncan miller said monday to bloomberg referring to the may 5th tweet from trump which threatened an increase in tariffs on china which sparked the most vicious bow of trade war related selling yet explaining his decision druck

said that it's not because i'm trying to make money i just don't want to play in this environment for a start a hissy fit like next week. i've decided to go 150 percent long stocks thing about having a quantity that's fun as i don't pay any fees to liquidate your portfolio back into your portfolio done most of the sky hedge funds never perform he said a lucky track record for a few years he and george soros of course invented reflexivity they're caught their term for market manipulation the you know soros said if you were to bully stocks enough you can manipulate the price we call reflexivity it's called stock manipulation j t by the way said this before the rally going into you know because trump is cause and wild swings he himself does well for in the morning and a bad mood sometimes and i'll tweet something crazy or he watches fox news and he teaches tweet something even crazier. and then you tweet something sensible by noon

once he's spoken to his wife it's like so he is great for these sort of guys hedge funds they love the volatility right so he has certainly brought with his tweet some interesting volatility to also i think local markets and to well look at your face say now that's like the look of many world leaders looking at tweets going we're at war now well on a percentage basis you know i'm not sure he causes any more volatility than we've ever had the stock market because you know a move on a $25000.00 dow looks big but it's on a percentage basis not so big but worry does help are in the options market so the options market is where you can you know take a lot of premium volatility premium off in ways that he is definitely helping so if a 5 dollar option is swinging $22530.00 back and forth based on trump tweets yeah

you can make a lot of money in the options market company like microsoft again here is market manipulation they manipulate their earnings announcements with purchasing and trading options on their own stock that's called mark manipulation j s 5 example so far in the 1st 5 minutes j. clayton then the article goes on to say looking at other assets classes just in miller said that while treasuries have become less interesting amid the furious rally in recent days they remain quote the best game in town if the economy deteriorates and certainly if rates tumble another 2 percent to 0 or below he said and gold's not bad either look when you have a lot of intro and now negative interest rate bonds in the world there will be no interest rate rises ever rates are going all rates in all countries are going to 0 and most countries will go negative and the stock market will melt up of gold will melt up bitcoin will melt up then they'll have the fed and these governments will

coordinate and they'll say in less you've got prove to us and we have surveillance technology we'll know whether you're lying or not you've got a $25000000.00 net worth in assets. if not you're deleted just like you 2 can delete people spuriously. i'll go see as i just delete you they'll say we had no we didn't make an executive decision to delete this person and cast them into the into the d.m.z. into the swamp so the no a lot of bad lands the algo did it we didn't do it and they'll be millions of people wandering around in a zombie land but if you get 25000000 that will be the cut off i'm guessing and you know you'll live in a walled garden or a fortressed barricaded spot and you'll have you know you live great but that'll be available for very few people but it's coming probably in the next 18 months you know i want to look at this chart because you talk about the coordination between governments and central banks but i'm not sure that and many of our guests have

actually suggested that that might not happen in the next crisis and what we've had is since 1971 when the u.s. went off the gold standard there was a lot of coordination people other nations accepted that they weren't getting their money back namely the united kingdom who had just asked for their gold $300000000.00 worth of gold that the u.s. had no were going off the gold standard and nobody complained maybe behind closed doors they did and then japan started to overtake us even on this global currency grid the japanese out competed us and then they were threatened or whatever and the u.s. and japan. agreed to the plaza accord they agreed to basically allow the u.s. to dominate instead so you know since then we have this chart and this goes back to $96.00 after the plaza accord the blue line is the u.s. yield 10 year yield the red line is germany so germany since 20142015 has become

exactly like japan japan since the plaza court has basically. this is the end of that we've we've been able to extend and pretend since 1906 that this whole global system has been fine but in fact what you're seeing is that the slow death everybody's zombification this is the zombification all you know central bank around economy right well one of the unforseen. circumstances that occurred by the reagan factor period of deregulation was that the biggest beneficiary was japan so the u.k. and the u.s. had to get together to squash japan again was the atomic bomb of interest rate manipulation another manipulation that 6 now in 6 minutes and so japan had to be put back in the box and but then the result of that is that markets became completely zombified and dead then you had the greenspan put the bernanke you put the janet yellen put the jay powell put so every single fed chairman has come in

and they've squashed price discovery in favor of price manipulation j. that $7.00 ok right i can come up with 30 years this is a mark manipulation so. are you a frickin moron that's my question jay how do you even walk down the street without forgot your face and smashing it i mean you're obviously a complete imbecile clayton so market manipulation is a via the federal open market committee and the very central banks around the world of course has resulted in the stock. boom this week because market participants are betting on up to 4 rate cuts by december so here's a heavy from wall street here's my prediction if the fed doesn't cut rates 3 or 4 times by december 11th markets are going to. stock market and corporate bond markets are in lala land pricing in an economic boom they're not seeing

a rate cut economy so why would the fed because the fed's boller just said this week that the rate cut is coming as well so and yet the stock markets in the corporate bond markets at the junk bond market especially is like booming as if boom times are forever well here's the thing he said the stock market is near its highs and predicting boom times forever more during a downturn of the type that would induce the fed to cut rates corporate collapse revenues fall p. e. ratios go to hack and over leverage companies begin to default on their debts which tends to wipe out shareholders economic downturns can be terrible for stocks that have been inflated like this and priced way beyond perfection but there are no signs yet that the stock market which is supposed to be forward looking is pricing in any of these risks as gallivanting around in la la land there's no risk it with writing. up in stocks look here's a tip for the democrats elizabeth warren said a couple of things that really are actually so she seems like she's got over whatever her problems were but here's

a tip if if the economy is really doing well. then interest rates should be going up exactly right so the fact that interest rates are going down is because the economy is crashing and it's dire straits that's simple fact that talking point in the hands of someone who can speak like in elizabeth warren for example should give them traction leading into the 2020 election ok but they won't will never do that because their entire base are just social justice warriors who are don't want their feelings hurt so they'll never win but that's a fact and the bad job numbers allegedly you know said they always revise them a few months later but right now that's causing markets to rally immediately because they're assuming that guarantees from rate cuts for them but they have always been there why wall street main street are always at odds if main street is doing well wall street does poorly and vice versa but now we live in an era of the central bank monetization schemes where central banks are always helping wall street and has only bad trick of the financial markets that he only looks at our

stock prices that is his knowledge of because he own stocks are going to take a break when we come back more coming your way. you. feel welcome you should all just normal got hold. of another rule who nobody noticed when you watch them cruising. up on the board was to get skis with a boy in the. novel. you would usually you would you put some of the little cottage.

you do. well yes yes. monday morning sunday evening very unusual for that is that. the legacy of the local which is based on what. you are one with you it means there's just a total digital shift out of the. ruthless which you. that we were thinking. that you know it was something. careful after. 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 back 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. know why a paradise with around turned into a round the experimentation field but agricultural chemicals we know that these chemicals have consequences they are major irritants there's no question otherwise why would that the chemical company workers themselves be geared up that suited up locals attempt to combat the on regulated experiments that often in day you have many of these people who have one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of environmental races going on in hawaii whether these companies feel they

can get away with this because the p. . will have less political power. lol. welcome back to the kaiser report i'm max kaiser and time to talk with mr shad lock of miss talk dot com mish welcome back pleasure to be back on a days daisy accuse me of jumping the shark what do you think about that yeah michel i wanted to talk to you about this i saw something very disturbing on the internet very recently it was you doing a cover of johnny b. goode except it was called bubbles be good you sing you dance in a musical tribute to the fed this is buffalo stuff i know that chicago is known for

its theatrical reviews and 2nd city t.v. i didn't know you were such a star well. you know max yeah i mean i recorded this a couple weeks ago and i was just worried because we both know that paul was going to come out and write and guess what 2 days ago it comes out and he says. unconventional it is no longer the unconventional so he's talking about 0 interest rates for or what her forever is is that the round interpretation or that's how is it. we're going to test the lower bound of interest rates and you know and it's not maybe we're going to do it that is just like knowing everybody's cut interest rates to 0 you know that's kind of the point of this video that you made bubble of bubbles be good in other words you predicted that jerome powell would come out

and become a does all the talk about higher rates was fake as it always is and he made this video a couple weeks in advance and then the 2nd he kind of did what everyone knew he was going to do you drop the video kind of a proof of work situation and you know that i think that was part of the point of this whole thing it's very very predictable because as our. friend misfires stein says you cannot taper a ponzi scheme and the fed is now trapped there now stuck in a ponzi scheme as it is the global central banks are complicit and colluding in this ponzi scheme and your comment michelle look where we go wrong it was in september and december of last year you had said we were on automatic pilot here for our current or quantitative tightening and automatic pilot for it least 2 rate hikes and you know some of the fed the median

actually were story and someone fogger going to have for fire right all of a sudden we've gone from an expectation of a median expectation of 3 to a meeting in expectation of 3. so. you know that shows you just how out of touch these. are now it's. almost rope is waving his magic wand and getting what he wants are out about right let's talk about how this impacts people's lives not yearn to illinois and illinois economy is in freefall the public pension sector is underfunded the taxes are going up to pay for it why is it underfunded because interest rates have been artificially suppressed down to near 0 so therefore they've run out of all the money to pay these folks out of these funds for putting aside a 2nd whether or not the public sector is

a drag on the economy or not the fact is that illinois has this huge deficit in the public sector because of these artificially low interest rates as is the case of social security as is the case with pension accounts all over america they're under funded all the corporations are going under the economy's going under the federal reserve is killing the economy they take a big knife called j. . any beating at least sticking in the heart of america like does it not die is bleeding and he's a little having us dancing on the gravy saying oh i love america so much i'm going to kill it ok that's the be a viewer of a serial killer and a psychopath why is he not in jail miss macks you know the only thing he has you know we're going to put out a loan on a cd baby is a see this is your you know mary i drank it was out thinking it's cute from the bed and you know talking about raid cats they do you reserve bank of australia you know cut interest rates janet is talking about it you know it's like it's

a chain reaction oh the follow leader there you. hand it leased out and more ikes anybody else but look at the very destructive policy of the e.c.b. negative interest rates charging negative interest rates on money that they forced into existence i wonder if that's not one of the huge problems behind the blog of noise find it clearly you know this is a fight in serious trouble it seems like it's heading to 0 it's going to be need to be bailed out you know even harder to hear anyone talk about this but the seabees policy of negative rates while increasing the assets on the books is crude punishing the banks at least in the fed we were we were the fed was crooked about it they lied about the reason they had printed all this money and end to the banks took it and the fed made them accept it paid them interest on

excess on and slowly bailed out the banks and over time in the us drag it in the opposite cabinet is that mack right that's an excellent point and as you point out in the in the united states they are the policy of allowing the banks to put excess reserves on the. the fed and they receive an income beldam out over time in europe it's negative interest rates and bankrupted the economy don't your bank is the new lehman brothers it's about to go belly up that will cause a cloud of global contagion however and no bank will be able to escape the 2008 financial crisis part 2 you know i'm thinking about your musical number bubbles be good miss shedd luck if you want to watch this bubbles be good video go to miss talk dot com it's michelle block as you've never seen him before singing and dancing i was you know why not just make this into a broadway musical it could be a version of sweeney todd the demon barber of of fleet street remember the story of

that musical is a barber that cuts the heads off of everybody who tries to get a haircut and just put general powell as sweeney todd and every time a new business is for me cuts their head off every time a pension is for me cuts their head off any time some worker tries to get a job he cuts their head off whenever trying to get stone savings and return their savings there's jay powell cutting is that off and singing and dancing the whole way jay powell we kill everybody and it's a great musical when you think about that you might maybe we could buy favor. maybe sunday your name won't be in lights say in palo. we knew this was going max would we do it i knew this was gonna stand drunk drunken miller or drug drunk drone drunken miller says truck druckenmiller that's it now he's a guy who with george soros invented the idea of reflexivity which is that you can always manipulate a stock market any time you want to make some artificial returns he sold almost all

of this entire portfolio he put her on u.s. treasuries he believes rates are going to 0 your thoughts now we're seeing a little bit of a. divergence where the 30 year bond it's not far and in relationship as as much as the rest of them dead are still open to the idea. that we've seen the bottom on a 30 year maybe not the 10 year and what might the. bond market be worried about a mad oh oh oh about deficits as far as the eye can see we're drawn so. it's an interesting thing that's happening here. how the bond market's going to react to this when all the central banks are trying to do the same thing so i and the product is still out on that but we've got some big boat was here they're going to burst max all right this is interesting mesh let's get into this

a little bit more so than other words you have various bonds maturing over various length of time from one day with a bell then you have your 5 year notes then you have your 102030 year bonds and they central banks think control the short term the one year the 2 year the 5 year once you get further out on to the maturity he'll you don't have the control when you get to the 30 year bond you have the least amount of control in terms of the central bank so you're pointing out that the yields on the 30 year are not falling like they are in the one year in this in a way that you would expect so you're indicating your analysis here is that the 30 year is looking at head now to when this whole thing blows up and bond prices finally after 40 years the bubble pops measure it might take a while i mean look at all the number of times people thought.

the japanese bonds at the end would blow up it still hasn't happened. but i mean we're on a path globally that actually it makes no sense the whole construct of negative interest rates. it is it is absolutely ludicrous it cannot happen in a free market you would not rather have a dar dollar 10 years from hell then a tollar today that's my negative interest rates say it's fundamentally crazy yet that's what the sober bank said don and then are talking about it and they're saying the latest stock out of all of the e.c.b. end of the fed same tone here this time is that wow we are under shot inflation now for so long oh maybe we need to live with 4 percent of inflation i

said or even how to measure it they've created these huge enormous bubbles in that stock market housing again not as big as both or at least time wise but it's there in corporate bonds in junk bonds and when these falls below they create an asset deflation the fed does not even understand the problem it's fighting because routine inflation is a routine deflation excuse me is is simply not a problem yet they all have this group thing that says it is and has another interest to invest they talk about the earth we need diversity on the fed well i want the person on the bad to shit but you are or may are peter ship or someone anyone else on the fed except if you know and you talk about diversity is

a it's a matter of race it's a matter of economic thinking and these guys all think a lot yeah these negative interest rate bonds it's like a fast food industry getting involved in the euthanasia clinic business and selling macbeth and going around and saying we're guaranteed to lose money given you know. join us this you to death incorporated right i mean it's a group cutie it's every little known law of economics to be able to sell death and people paying a premium to die what ok fine i guess we're all going to go to the fed the fed should get into the body bag business because they're about to murder about 80000000 people anyway mr gotta go thanks for being on the kaiser report max those . things are giving me both good of. joy oh yeah bubbles big love it michael jackson i thought was about a chimp monkey for a 2nd anyway that's it for this edition of the kaiser report with me max kaiser and

stacy i would like to thank our special guest mish bubbles be good shud lock if you want to catch us on twitter it's kaiser report flex time. to get up off the ground. sounds or maybe. you wish to do away from your office or. the obvious or did they kind of lunge for the web in one smiths and they would have been done treece one and i've.

never seen any contact with. any kind of went back to where they were so the answer is back here there again 15 feet apart at this point and that's when the officer is going to. join me every thursday on the alex i'm unsure and i'll be speaking to us from the world of politics sports business i'm show business i'll see you then. steve. but it is not. something that is in the front of the kids you. can actually i know not my will not have a. sunset or. the

u.k. is home secretary hands a u.s. extradition request for julian songs to the courts meaning the whistleblower state could be decided that hearing on friday. also this hour 2 oil tankers catch fire in the gulf of oman and suspected attacks and high tensions in the region the incident has had all parts a story. her special alliance with very special people big buyers of our equipment over a plane she praises a new deal that sees a deepening of military ties with poland and else an extreme u.s. troops will be deployed as warsaw by its more than 30 american fighter jets.