growth up in chaul the speak of europe then i went back to the south of france for 5 years that i met stacey. we had a period of growth and we're seeing that the american peak will hit so it'll be time for a 5 year vacation again. i'm not sure where but somewhere but this is. take of bitcoin and say adios into the sunset i think we're done well this is in the you know the context of all these guys like unlike selling all their equities they're getting out and buying bonds predicting a huge recession because if the u.s. obviously is in its own space like it's beyond all of the emerging markets europe and japan and terms of where their stock price is. now over to italy which of course has had catastrophic economic story happening there and we've been again covering this for 10 years the european central bank has managed to keep it afloat

by buying all the bad bonds some of their rate some of their bonds i believe at negative interest rates even and italy and yet you know if everything is so hunky dory italy proposes tax on savings hidden in safety deposit boxes as total retail deposits hit fresh all time highs the italian people they have a lot of cash and they've been putting it into their savings accounts and more importantly in italy they put that into safe deposit boxes salvini is proposing that they basically raid all these savings these safe deposit accounts and introduce a tax if you if you voluntarily tell the government how much you have in there they'll do a flat tax of 15 percent i don't know what the higher rate will be if you fail to voluntarily disclose it but they're coming after your savings quit now for those italians that want to keep their savings or put it into because you can escape the confiscation of the. government or the vatican whoever runs the country over there

and you will preserve your wealth and jurisdiction that respects your sovereignty as an individual and respects your willes don't live in a country that's just going to rip you off blindly we live in america because they have good speech rights and we don't want to end up like these other journalists that are being beheaded or jailed so we liked our american passport but you know we prefer that but if you're an entirely and you want to preserve your wealth don't live there or if they're going to take it move to a some other area where you can move here because i have a life you know i want to be a part of a neo feudal slime state of living in dirt and picking you know whatever seeds you can out of squirrel poop you need to get a life. first of all 2nd of all this is a complete repudiation of everything post the enlightenment right so they're saying that markets don't work that private property doesn't work and that only the crazy

statists with their guns and there are some crazy theories based on some discredited catholic cult nonce these guys are insane you know don't live there it's a nutty many many places you've got good pizza but don't go live there but this is a theme that we've been covering for the past 10 years we saw in the last episode deutsche bank ran up some bad debts i mean some bad bets and they lost but they themselves do it a bank was not made to last the taxpayers of germany have been gifted all their bad debts here in italy again the banks have made a lot of bad bets and those have already been perhaps transferred to the e.c.b. we don't know yet and told busy it all actually falls apart and we get to look at the books but right now they're going after the individual the bottom 90 percent and they're going to come and take your stuff there they're going to do like a belin. that's already in the globe in the european laws that they'll do

a balan and this is what they're looking for they're prepping for is a bail out where they always come to take their stuff i mean just to be clear right so the italians that have money and safe deposit boxes those safe deposit boxes are going to be raided by the state to pay the bankers who made bad bets ok so we saw that in greece we saw that nice. you know they had a different reaction iceland actually kicked out the terrorist bankers you know iceland i think all the italian should move to iceland ok it's so different whether you get you know it's not so much pasta more fish but you could keep your wealth move to iceland you can buy a property there cheap don't live in italy so wasteland that's omaha so then the south it's all the mafia it's tarball i love italy it's amazing place as great food and stuff like that but you're open a bank account there know just like greece you know greece is also beautiful it has an amazing countryside amazing food maize and weather and out there but they're not germans and the european central bank is set up in order to help the germans the

dutch and some of the northern states as if you read collusion by no mean prince she highlights this exactly and she talks about this but again so this intervention by the central banks over the past 10 years there their scheme is falling apart they have shifted a lot of wealth to the top and it's the bottom 90 percent who are having their assets seized in this case in italy right here they're proposing a tax like it's very blatant as obvious and at least as transparent they're saying we're going to take your money ok in the united states there is this. we have the exorbitant privilege of the world serve currency so they are allowed to print and allow and allowed to say look the average wealth is going up the average income is going up because the the wealth of jeff bezos is rising you know in 2008 it was like 45000000000 now is 150000000000 how did that happen during this time so i want to look at the story. that came out in the past week and that's from jesse eisinger

and he looked at a home a property that donald trump his company owned in beverly hills and he saw a case of individual corruption not systemic corruption i posit that this is systemic corruption so he knows that the price of trump's beverly hills mansion was assessed at last year 8300000 dollars price trumps indonesian business partner secretly paid for the property a couple weeks ago 13500000 this is the property that trump own to the flats of beverly hills right near off for a day or drive. his company bought it for $7000000.00 in 2007 and now it's worth $13500000.00 jesse eisinger looks looks at that and thinks this must be corruption on trump's part in mosques be him individually being paid when more than the property is worth thinking that $7000000.00 property must really only be

worth 8.3000010 years later but if you look at all the properties all around on zillow you find out that they also doubled since 2007 all of these properties i sent them this this is from zillow all the properties of animals have also doubled and in fact this is what the elite are getting this is what the likes of donald trump is now where $3000000000.00 where they get from the federal reserve watch how the intervention looks for them remember this inflation deflation debate is ill oh estimates that property of that trump sold was worth anywhere between $10120000.11 so this indonesian guy perhaps it overpay but what they're showing is that the last 30 days the property prices in that area are going up 1.2 percent a month which on those wealthy big mansions equates to $131000.00 a month so it's going to just see. simberg isengard eisenberg he had

a conclusion 1st and then he filled in his fake news to fit the conclusion yes and you're saying look there is a story here is the systemic breakdown of economics and crisis coverage through central bank flooding the market with phony fake money that's the story yes you know it also reminds me of know me wolf you know she's a famous feminist i think her name is that is know me well know me well fia so she came out with a book where she jumped to the conclusion it's about homosexuality in and in the 18 hundreds and the punishment there of. and she missed read the law and made the absolute wrong conclusion and was pilloried for this well not pilloried but in a very english understated way better face ripped off on a live radio interview in london but again she has a conclusion 1st and then you fill in the fake data the fake news to support it but

marcus you know this day everyone learns us from the stock stock market right so in goldman sachs they pick a price 1st for where they want the stock market to be or where they want gold to be and then they fill in the trades to get to that price there's no price discovery just like there is no journalism is no investigative journalism anymore you just have people who make incredibly. conclusions and then fill in fake facts to get to those conclusions so in that regard trump is correct there's very little outside of just pure fake news if that's not too much of an oxymoron just say it's fake news and that's unfortunately it spilled over into every nook and cranny every orifice of society is now jump 1st and then fill in whatever law you need to get to that fake conclusion again when you tune into the cable news here they are so or look at geopolitics they hate saddam hussein they hate khadafi they hate trump

he's an orange guy and it's him individually it's not the system you the viewer out there do not question the system this system is perfect because i you know this elite journalists in washington d.c. or new york where they all live it benefits them so they don't want to look at that system they don't want to condemn the system they want to condemn individuals who we all can agree has funny hair or they're fat or they're ugly in some way and they're vile in one unique individual trait of their personality and that is the reason why his property prices going up 131000 he's uniquely corrupt it's not our system which is you you. weakly corrupt don't question the system they don't write so and they never get anyone questioning the financial system for sure because you have a financially illiterate population that can't add 2 plus 2 rights you just bamboozle them very very simply on every major mainstream outlet and you can bamboozle folks

into believing this nonsense as you have pointed out very distinctly well we're going to take a break when i come back much more coming away don't go away. we came here where did you work before you came here when you lived. in many us states capital punishment is still practiced convicted prisoners can spend years waiting for execution but most of the time the victims' families they are very much in favor of the death penalty there are some people because of what they do have given up their rights as. somebody even proven innocent. through. regimes is it going to take before we as a society realize that this is not working and we actually do something about it.

i don't want to talk to a communist news agency forgive me we'll have to find someone to. lower the trying to say this because. of the clinton. just like the jews. exactly when my paul become law. and so that where.

we have to be. i think i acknowledge the. fight. it's an indication of how important. move towards we are to. winning it because we have the people they have people in power but we are in the month. but come back to the kaiser report time now to turn to david margan of the market

report david welcome back to matt it's great to be back to you stacy thank you. david margan the gold silver ratio recently had about 90 what's the significance of this of any and that if think all do you think all will drop or civil will rise to return the ratio to its historical average david 1st off a 26 year high but if you look at it and what does it tell you there's no doubt what it really tells you if you could argue it's meaningless is mainly thought don't care the fact is it tells you how much silver takes a bite out to go so right now takes about 90 ounces of silver by an ounce of gold whether that means silver undervalued or not i would say it is but you know you could make that argument really really want to point out was you go back to silver bonanza my friend franklin sanders book way back if you publish in 93 and you look at the ratio gold silver ratio for the 13141516 hundreds

it was a $12.00 to $1.00 which is a natural ratio that's how come out of the ground so for a 1000 years that another 1000 years another 1000 years or another 1000 years the ratio was 12 that once you have 4000 years where the ratio was 12 to one when they were used as the same thing money. and then we got on more sophisticated more quiet except her and we went to the baker being little or surprise at luton you know got the bag back of the gold standard and the ratio had gone to about 60 in the one he deemed it 15 and a half and that's what i call the monetary ratio and it remained there for a while so if you look at it from a historical perspective it's only been the last 100 years or so we've had these i love their anomalies are not factual we've been above much above the 16 to one ratio and of course we actually hit about 100 to one a couple of times so whether it was the monetized that's one silver star these

rather significantly. big changes in 2 it's a ratio many argue that the seller has bank completely d. monetize and so it should trade more like an ordinary industrial metal like palladium and sell the gold and sell ratio no longer matters their thoughts well still monetary aspect i was given the program a debate on the up and comers very nice nice guy pretty thoughtful about silver being money or not and of course i had a ticket to go help you know i never said i know everything which one of the best legal constitutional legal people into in the world my view. dr edwin vieira and we discussed it so there's 2 aspects to it max and i try to convert because for make a real simple legally or economically legally silver's money no ifs ands or buts about it it absolutely is legally money but i've become to stupid to go into wal-mart with a legal tender $1.00 ounce us minted silver eagle put it on the desk and say here's

$1.00 which you would have to accept legally for you know half a pack of gum but i could do that and it's absolutely the other part which is more important is it economically money and the answer is really not because of what i just said who would be in the right mind put down something. you know you had a much higher value in the open market that has on the face value of that court bet coin is not legally money. but the community is making it legally money because it's got a lot of community support you know why can't the community get by itself or you know 1 i don't know i kind of tip my hat to you max i mean you had to do it by silver to j.p. morgan i mean i think it added a lot of people's awareness of you know silver's potential to be reintroduced as a monetary asset but as we all know it didn't go our way you might say however i think there will be a resurgence of silver as money because what is cool starts to take

a run then the people that are tuned to the gold move will move in the so rick has this better value it is cheaper it's maurice's afford so i think there is still that monetary aspect and look i'll be the 1st to say so residue a purpose primarily industrially 60 percent of series uses right now is industrial uses so only you have to be other 40 percent is monetary that be less than half of it is it you've got jewelry and got silverware so the monetary use the silver really around to 10 maybe 15 percent of the total but it's still got that amount as again it's a small market that if brother was a russian the gold i think will spill over the silver be rather significant so let's talk about kind of like how the u.s. dollar fits and all that the dollar continues to rise the most quarter and dax is now over $97.00 and you know that where's this going or the dollar

going and also it's important to understand it now we're talking about gold or silver priced in dollars if you look in a gold it's making new all time highs priced in australian dollars it's making a close to new all time highs a canadian dollars and russian rubles and there are number of currencies arts at or make. you know all time highs only the u.s. dollar you know do we say there's a lagging saudi but the u.s. dollar is at the rate world reserve currency. you know how important is the dollar to this whole thing going forward david 1st of all where's the dollar 1000000000 dollars going that does bin of history like all theocracies this is going to the last when they get there and so as you said you know visa these other currencies go looks pretty good the dollar is strong for a variety of reasons primarily because we have special access to being the world's reserve currency it has to be accepted in most year commodity trades however it's at a lower level than it was a back in early 2000 when it was $120.00 in

a dollar index right now i think the dollar will maintain some strength to some weakness but i ultimately believe when the liquidity squeeze comes when the next 2000 a crisis hits when the panic manic buying of real assets takes place that the dollar will actually strengthen the reserve why is because it's a liquidity squeeze and people go to what they trust the most most people less to listen to max kaiser you know others in our peer group have no idea what really goes on in the field system they just are clueless and so it takes place as people sell their bonds sell their stock sell their house all their car sell anything $4.00 so you see a run of gold and a run the dollars at the same time and many people say why might that can't be right how can the dollar and gold are going up the same time is because there is a run to what you trust there's a run to capital that's understood then will take place later and i don't know how much it'll be

a week 2 weeks 2 months 6 months or develop the 6 months but it'll be some period of time where wait a minute if dollars aren't buying me as much of goals accelerating you know piece of these the u.s. dollar more than these dollars are so that amount of dollars don't go in those exact amount but some amount of that dollars will move into the gold market that. to get the acceleration in the gold and you see the dollars tomorrow is really take place does the dollar do it out salute 0 no no i think the powers that be are too aware of what route to explosive these few out systems and they probably have a plan a b. or c. i don't know i'm not privy to the upper echelons of the deep state how they're thinking goes on this banking cartel what i do know as you look back to be i guess about a decade to 12 years ago. they only accounted for member banks in gold they could care less for foreign currency exchange were their share less would feel ill rather other countries all they cared about was how much gold was in their bottom line but

you don't hear that anymore because it's you know secret now but the b.o.'s you know as the bankers bank as most of us know and that's how they account for their own account for stuff you can print their accounts were gold oh yeah there's still the internet account among central banks is gold and you know there's so much of the sphere of money that's been printed and i heard somebody recently mentioned that the amount of money that's been printed in the last 15 years versus the way that the gold stock reflected the amount of money that had been around in the system back in the thirty's but you'd have to make the conclusion that gold at $1300.00 an ounce is the roughly equivalent to go all that $35.00 an ounce in other words. you know there's so there's so much money there's so much of these derivatives and funny money and fake money that versus the actual all known above ground quantity of gold gold hasn't been this cheap sense it

was 30 $5.00 an ounce relative to the amount of this bogus fee money david exactly when that's reseller was when i started the website in silver on an inflation adjusted basis was cheaper than it was during the great depression it was like under $5.00. but that $5.00 value was less purchasing power than $0.22 was during the great depression and their business so to say they told the truth to max has a lot of upside to gold market and silver market and it's just a matter of time i think you know the 2000 a crisis was never really solved i mean we had a dead issue primarily subprime mortgages everyone that you know listen as he has probably seen the big short l. what happens is they made the problem worse i mean that they the banking the stablish would be your local bank or your central bank or your national bank or you know all the way up the chain the b.o.'s everything took place to just make more

debt papered over loan you know more. morphia basically in the system the reason most people are really misunderstood what took place is because it was sterilized this went to reliquefy the banks but it never really hit main street it went to wall street and the liquefy the banks it didn't go on to the you know the main public with their wages were increased during that type of thing in fact there's pressure on the downside due to china competing currencies in a way the world works now relative to what it was a say the seventy's when i started the workforce and everyone that was in major industries major corporations are given a c.e.o. l. a cost of living allowance adjustment to our wages i think it happened every quarter every half year or so so we thought at that time that you know as this inflationary pressure continued you had to get hired our wages are kind to go on the lives of the weimer republic where you know you might not. stay exactly with the inflation rate but you were at least told that were you don't want to make your

wages. continue to increases at places accelerated that of course stopped a long time ago their wages are as are the the nail you now existential threat in america and that probably will not have a very glorious and. but let's in the minute we have left here you know the stock market are signaling one thing you know economic growth the bond markets signaling a completely different outcome these 2 are completely showing different outcomes here thought well the bond market acts and the bonds really say look we're a problem this is good you'll curve there's a recession built and they're scared to you of that and once the bond market starts to falter if you're going to go along with it but as started to falter you know it's an existential crisis the bond market it's a negative feeling that got negative yields in europe how how how much what do you

what what is this all going to go david it doesn't and other words us already gone past the event horizon of a catastrophe. well believe it has the markets haven't. said that i mean they're just kind of pretending you know like jim ziglar likes to say extend and pretend extended out in pretend everything's ok of course as you stated it's not but i don't think it's hit. the bond traders enough to where it's you know been a crisis where we see it you know in the mainstream financial press or assume that we've got a real problem with the ball more correct there is one but i don't think it's had repercussions yet this is are subtle it times i mean sometimes a small change is a big big difference over time i just think we've got to give it more time before you know this mess starts to unravel you move further than it already is well thanks for being on it will have to be on another segment if that's ok but thanks for being on this part of the kaiser report special that's going to definite

edition of the kaiser report with me max kaiser and stacy i would like to thank our guest david margan of the margaret party can reach us on twitter accounts are important and i stand by oh. just driving the trump administration's iran policy is confusing contradictory and even incoherent would be an understatement as members of his administration beat the drums of war the president suddenly injects themselves into the conversation with words to the cause what is the world thinks. we had one man 3540 years old and it also this trial in the water. some 30 fisherman this child later in his nets. understood.

that he elements want to have. another one of them a fee on what the machine. i believe that this is one of the therapy is to laugh our tama. absurd to really harsh things that happen in life. for their own backs or there's. more behind it for the future but so. far none of our group. would ever use the media. if you're so sure you did the good man if you did you. will see more americans who moved. to

nominate to fish you know my bush a few more minutes in which most of the meat. they are has. been a godsend. in a manner i need to learn a new donated. skin or to. give the learning you. with your kind of current system definition in. miniature them run to the. thank.

you yes president donald trump says he called off a strike on iran at the last moment after he found out the number of possible times and. said i want to know something before you go how many people will be killed came back said sure proximately 150 and i didn't like it. anti-government protests continue in georgia due to anger at the visit of a russian and paid them a pair timbaland's russian allies from flying to the country in response to. a scottish student claims he was kicked ounce of class after saying there are only 2

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