rejected but it is the greatest of the poet the journalist and the comedian to be. truthful to you know to be just report what you see the wrath of the online community against our reporting on because at that time big corner is universally hated i mean people talk about it now people on wall street are buying it it's become a very good you know the fact that the prices rising this peoples or status seekers and in concert and can and consumers are buying because because the price is going high that back in 2012 when it was you know less than $10.00 less than $20.00 you know people hated with a passion and they hated the fact that even we were talking about and you know a lot of people did buy they did become millionaires that was the time period in which j.p. morgan some bankers ha p. morgan in london we know firsthand from somebody who developed some software for them that they were trading coin they're not they weren't allowed to at their office so they had to create a special program through which j.p.

morgan would not know that they were actually speculating on big point but they were out algorithmically trading because that's what these guys do and the algorithm was tied to twitter and so any time max this is this is back in the day when you used to always move the price of decline if guys report talked about bitcoin the price would go up that's happened again in the past that's happening again yeah well yeah that's true i mean i feel myself max keiser i feel most closely aligned with toshi nakamoto spiritually and and just i feel because of my work in the 1990 s. developing virtual currencies so i feel of the feel i'm channeling so toshi in a way that no one else does and inspire people to buy because in a way no one else does that's why we've created you know hundreds of thousands of millionaires all over the world with you know bitcoin and because the obvious connection to be to individual sovereignty and escape from the nation state and the

tyranny of money is obvious and that message just getting through to people like joe kernan it's. c.n. b.c. he's become a big going drone or. not art carney i'm thinking about honeymooners i mean mark carney over there the bank of england in london you know he's down almost to the point of being a big coin drone he now is embracing digital currencies as a global solution against the dollar the global insurrection goes banker occupation we start of that really before occupy wall street before the revolution in cairo before obviously the goal in france or the protests in hong kong they're all connected all these protests are connected they're all connected to a rebellion against money and banks they're all global insurrection against banker occupation the solution for this. is because the solution to the protests in hong kong is bitcoin the solution to the oppression in egypt is a big point it has the same solution you have all these groups are are brought

testing once the penny drops or the big coin drops and they understand this then you'll see that $100000.00 prize pretty quickly yeah i think even before arab spring so called spring was the indignados in spain that's when we started to talk about a global insurrection against banker occupation and it is the dawning of the age of 6 so she not come otoh and with that i want to also talk about the culmination of a story again kaiser report was covering it rachel maddow never covered this on m.s.n. b c nor did any other of the cohorts there and mess n.b.c. another x. j.p. morgan precious metals trader please guilty to spoofing is cooperating with feds another former j.p. morgan precious metals trader pleaded guilty to criminal charges of manipulating the precious metals market for 9 years marking the latest in the justice department's crackdown in the commodities markets christian trons $34.00 of london

is cooperating with an ongoing federal criminal investigation the justice department said he pleaded guilty to one. count of conspiracy and one count of spoofing in the u.s. district court in brooklyn and this happened between july 2007 he says and august 26th teen remember a crash if you morgan bus over right so that we identify that was maybe 7 years ago we identify that j.p. morgan has been in place over price to feed a massive short position on their books that they inherited when they bought bear stearns and if you drove the price of silver from 15 at that time to 250 you would bankrupt j.p. morgan you know we're very poor we got to 50 which was a new all time high by far that was all us from 15 to 50 but then of course the regulators came in and they allowed j.p. morgan to expand their fraudulent activities by a huge factor they fired by masters who was orchestrating the whole thing and they got the price back under to a level where they were comfortable with in terms of their balance sheet then they

became net buyers and i believe they're now the biggest owners of silver in the world going forward you know the fact is that whether it's wells fargo j.p. morgan or any other banks they're actively engaged in massive fraud they pay the small fine their business model is to keep $0.90 of every dollar they still pay $0.10 to in a fine but that's coming to an end and they caught this guy he admitted in court to spoofing to rigging precious metals markets from 2 july 2007 to august 26th seen this nearly 10 years he was spoofing markets manipulating markets and they slowly come about to stopping at he said that he placed thousands of orders that he did not intend to execute for gold silver platinum and palladium futures contracts when we talked about the rigging of the precious metals markets there are some precious metals experts that actually said that's ridiculous for every buyer there's a seller for every seller there's

a buyer there's no way to read market well here he said mid into this and he did it through a process. it's called spoofing a strategy that involves placing trade orders with the intent to counsel them before they can be executed the goal is to affect the price of the commodity and benefit a preexisting trading position yeah i know that it's exists because the my patented technology the virtual trading system goes into how you can rig trading by rigging the price discovery it was then bought by a wall street bank and all they all work together and they use this technology to rig prices you know prices are not the result of supply and demand prices are pre-determined 1st and then they add the supply and demand or trading activity to get to the price that they wanted to get to the right so it's a complete repudiation of free market capitalism we now have it's about few people picking the price and then doing it ever takes to get to that price as a sound like soviet union times when price objectives are more important than

actual market benefits yes and that's where her living in our poll of bureau of the central bank by bureaucrats at the banks who are rigging markets and rigging prices there are some conspiracy theorists will say like this keeps a cap on the price of gold and silver on behalf of a central banks and governments to maintain. faith in the system but i think as you see i think it's just. nickel and dime ing as part of the tollbooth operators they're nickel and dime and it's just just general rot and corruption of the system then there's a natural by order yeah but to buy gold when you see that banks are acting out of control fraudulently so there's always a demand for gold so if you can constantly clip those price movement up when using mass of naked short selling or spoofing you can always clip a few bucks and if you analyze those rates of returns are extraordinary that hedge funds can make a ton of money doing just this so there's

a natural demand is so if you defraud the market by selling native rate interest rates for example and then you know the people. going to russia gold and then it could manipulate the price of gold you've got a money printing machine oh by the way it is a money printing machine on top of it's a lever it's hyper leveraged money printing phantasmagoria that through the can tell in effect it benefits a few people like jamie dimon who then as now declared he is concerned about the motives of his bank if he wants to start helping starving african children jamie you can do it go down there and hand out this is the roger vera of the world and quickly in the last headline japan's pension fund warns of global investing losses so japan's pension fund is the largest in the world as $1.00 trillion dollars it is the government pension investment fund g p i f and they say global markets have become so synchronized that money managers risk losing on every front according to the mizuno chief investment officer of the world's largest pension fund he said

quote conventional wisdom a portfolio just versification is when we lose money in equity we make a profit in fixed income but we lost in every single asset class and lost in the currencies translations as well that never happened in the past so synchronized algo bought trading scalping pennies right and that leaves only gold and decline so the huge japanese pension fund could be the one to break ranks and go into decline and then you'll have follow fear of missing out and game theory kick and every pension fund on the picnic that you get a $100000000.00 for because we're going to take a break when we come back much more. to get. your serbians. on the sounds of. the group.

which is a way for us. the obvious or did they kind of lunge for the weapon once missed and then when it happened on tree swung at the observations didn't hit them i never saw any contact with. any kind of went back to where they were so the officers back here there try again 15 feet apart at this point and that's when the officer pulled out his gun and he bit down tree. when it comes down to it but it is not actually that i think one can say oh well the russians are home bad this certainly is not the case that the west is all good there are absolutely things that the west needs to be doing and what i would like to see is much much less totally counterproductive rhetorical struggles we see against russia that it's you know it it's become an easy way of getting so the audiences to approach you is to come up with cheap russian bashing that helps.

said she stressed to. the so that the british at the bill of books set up. to. stop the show so i could see the face to face which quite often. see death and i know what you. are best teacher or a woman to me what you. want to talk to me so if you're my it's your bonus for to be. it's a mistake. i'm still with him. through this interview but you believe he's that it's a stupid actually a person believe them or should stop them spinning. expressed

. during the great depression which are old enough to remember that it was most of the family were working. there wasn't it was bed you know much worse objectively isn't today but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america was shaped by the turn principles of concentration of wealth and power. reduced democracy attack solo doubt engineer elections manufacture consent and other principle holds according to no i'm colmes to one set of rules for the rich opposite. that's what happens when you put her into the. narrows of will switch

is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. play. play. play. play.

live. oh. and very well might continue watching on since last.

welcome back to the kaiser report i'm ask iser time to return to our conversation with craig camp of the t.f. metals report craig welcome back thanks max j.p. morgan has been caught finally they were spoofing metals markets back in 2016 just like you and i have been reporting you know we did a big campaign called crash j.p. morgan vice over a few years ago because we correctly identified that j.p. morgan had entered into massive naked short selling a futures contracts to manipulate the price and they were exposed to other balance a to a price rally of silver and we got the prize from $15.00 to $50.00 j.p. morgan's balance sheet was imperiled they were about to have a massive write down and then the regulators came in and bail them out as they usually do masters was fired but this kind of does prove our point at that time and we came close to taking down j.p.

morgan then we cracked shores a lot of fun back then max and you're right the c.m.e. group stepped in and along with the c.f. you see and raise margins what was it 5 times and 9 days and never been made a run for it and that kind of off forgotten part of that story was back in 2011 j.p. morgan just had to they were short all these contracts 203040000 silver contracts but they didn't have any actual silver they were just playing a paper game which as you mentioned left them subject to a squeeze in that last month of april 20th levon to see if you see data showed happening the commercials were getting squeezed in the speculators were taking profits now you fast forward 7 a or 8 years later and we know what actually took place j.p. morgan was rushed through rubberstamp approved a coma x. silverball and now in that silver vault we watched j.p. morgan accumulate silver month after month for their own proprietary account may have got about $150000000.00 out. sets which means now when they short the market

by creating contract providing liquidity and all that kind of stuff they've done to keep price in check it's actually considered ahead because they've got 150000000 ounces sitting there that window of opportunity which we almost got on the regulators of course are taf shared let's turn to our let's turn to negative interest rates debt it was only a few months ago that there was only about 10 trillion in negative yielding sovereign bonds there are now about 17 trillion even one trillion in negative yielding corporate debt your thoughts well max i've said since 2016 when this 1st came the to the forefront i think negative interest rates are the greatest fundamental for physical gold ownership ever created by man or central bankers which i'm not sure are actually people. you look at it what is always the argument that traditionalists hedge fund acid allocate argument against gold what it just

collects dust it's a doorstop it's a pet rock it doesn't doesn't pay dividends in fact it costs you money it has a negative interest rates you got to pay to store it. well now if you know of the entire switzerland yield curve is negative the entire german you know curves the entire you'll curve the netherlands. if traditional safe haven assets are negative ok negative yield that makes go look pretty good you can see somebody coming down the hall behind me. that makes a little pretty good in comparison so again why would you own cash why would you own physical cash if you're paying a negative yield to if you're paying the bank to store it for you where you can own physical gold which is also money yeah you got to pay someone to store it for you but it's probably less than you're paying the german government so all of this is a very sound fundamental fundamental for physical gold ownership and all of that's going to drive the thing we talked about the last episode which is more and more

demand for gold in all its forms which then drives price 2008 the local economy seized up in a global credit freeze banks are obviously and solve it and now 10 years later we have the state of interest rates it's kind of like the story of the donner party where they eventually resort of the cannibalism to stay alive so negative interest rates are banks cannibalizing each other they're eating each other's balance sheet and attempt to stay alive another 20 minutes but they're all going to be dead soon enough they're dying they're deader than jeffrey epstein now going forward is this the breaking this breaking of the laws of physics that accompanies the great paradigm shift the economic physics the economic laws have been broken a completely supply and demand crashed and are we witnessing the end of this global fiat's system krag yeah we are max this is

a symptom of it i think about the craziness of this the e.c.v. is going to announce next month or next year reprogram where they're going to overtly buy. debt water they can be by their rebuy and negative yielding debt so they're creating new euro to buy debt which is going to cost them money as a way of kind of pumping up the european bank system and providing extra liquidity but the end of the day it's a it's an endgame that is terminal because the traditional banking model you know where you're going to borrow short lend long if you dot it shrivels up and dies with negative interest rates and so in that european sector specifically is where you're seeing the stress i mean doors are banks at all time lows right credit suisse i mean you go down the list of european banks that are now really being pressured and squeezed because the negative interest rates it's not going to get any better and when those banks have their debts structured we're break a owns a debt a bank b.

and bank beyond that at a bank see you get this counter party risk there that could really ignite a renewed banking sector let's just call it squeeze crisis whatever you want to call it that will then shift over the u.s. it's like 2008 so yeah we're definitely at the terminal phase the banks to create all this cash sloshes around the clock the planet looking for anything that it can that is considered safe we're up to 16 trillion and in debt that has a negative yield over a trillion dollars in corporate debt max has a negative view this is madness these high priests a finance it says if they are putting themselves in a position where they have screwed things up so badly they are now praying for america all america all of a media or the size of texas made entirely of currency strikes planet earth and bails out these insolvent institutions that's that's what seems to be their

what they're banking on that by a divine intervention because otherwise they will have eaten their own thieves stockdale of consume them. catalyze each other and it's happening in real time now of course donald trump has complained that the fed needs to compete with europe's egalitarian cannibalistic potentates of negative interest rates by cutting our rates by $100.00 basis points and restarting q.e. you've mentioned that you think you is going to start very very soon going all the king's horses all the king's mad men and put our humpty dumpty debt economy back together again in any feasible way craig in the central bankers have done this themselves because they are very seemingly been very pleased with their new role as these markets saviors you know that know everything and they're you know the demi gods that the markets hinge on their every word the see the problem is now they're being revealed as only having this limited amount of tools you know the fed funds raid and interest on excess reserves and things like that they're going to fall

back to everything they've done before and that's going to people are going to real figure this out go for it a 2nd hold on just a minute i thought were going back to normal i thought you know interest rates were going back to 4 or 5 percent like goldman sachs was saying just a few months ago and as these guys are reveal for the charlotte really frankly charlatans that they are the world has confidence in them it is a world of his confidence and looks around at the global economy slowing i mean the german economy is a disaster the u.s. economy is likely already in recession and then you begin to think well all they're going to do is the same song and dance that they threw at it 10 years ago again the way that does lead you down the road of not saving in dollars not saving in your own saving in physical precious metal instead look i know we've talked about this for years and there are a lot of folks out there going are others before yeah but this is the same situation now as before and we're going to new all time highs of both gold and

silver and now is the time to recognize it and bust 2 pair when you fall off a cliff it's only the last 2 or 3 feet that tell you it's not good. point anyway let's talk about this can the fed go negative again the federal reserve now go negative there's still a really major bank that has a gone negative something like 85 percent of all the positive yielding sovereign debt in the world is united states treasury this point if so is that essentially conceding mark carney's point that the u.s. dollar could no longer serve as a reserve currency well they're admitting it right i mean if you read their language the rules papers they put out of the speakers that they roll out they used to talk about the 0 balance ok that was the big language 67 years ago now they call it the effective lower bound 3 which is implying it's somewhere below 0 now they're i guess they could see some advantages to this than in their kind of their group think in their ivory towers they think that that means that foreign costs are less

and they will help the us government hang in there longer fiscally but it i mean that's just a fallacy that's not the way the world works and i think they're going to get a real rude awakening over time i did it this is just crazy where we are i mean like i said in our previous episode you have been talking about this since january but even i didn't think that by late august we'd be talking about this stuff already but everything is moving so quickly now that it really makes you wonder that even by what december were the world's going to be either man there is no time like people have to be paying attention you can't just be whistling past the graveyard thinking that everything's ok ok it's not all right so there's roughly $100.00 trillion dollars worth of money under money management accounts and less than $1.00 half of one percent of that's invested in gold the manipulations games are broke they're going to be interest rates or hair and suddenly the swing toward

demanding golf is here so we're talkin 250-3000 announced i think pretty soon krag boss. i mean people say oh that's crazy it's just a gold bug pump and things not just do the math if you really understand these markets know how their leverage and how little physical metal there is and then start to think like we talked about if the if the world just goes back to that mean any 2 and a half percent allocation to the precious metals mining shares whatever up want to half of one percent think how much cash that is looking for home and it's the same thing driving negative interest rates everybody's buying bonds and get buy them and buy and wait till that happens with mining shares and gold it's going to be something the whole benefit of crappy thanks for being on the kaiser report my pleasure my friend all the best and that's going to do with us this on the kaiser report with me max kaiser and stays there but like to thank our guests craig campi of t.f. battles report funny catch us on twitter it's kaiser report or kaiser report dot

com until next time by all. means dear. during the great depression which i'm old enough to remember that was most of the family were employees working class there wasn't it was bed you know much worse

objectives and today but there was an expectation that things were going to get better. of the. there's a real sense of hopefulness there isn't today today's america where shape my the turn principles of concentration of wealth and power. reduced democracy attack so no doubt engineer elections manufacture consent and other principles according to. one set of rules for the rich officer said. that's what happens when you put her into the hands of. sector of wilf which will is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america

ready ready ready ready ready. i am sure to stop at the continuing to grow. i just never know very good about the idea of bringing children into the world because i didn't feel like things were in very good shape that a life was just going to be a lot of software programs. there's no reason the more. you take things that are to me the. movie is a myth something else that. everybody's scared to talk about it certifiable is really dependent on us addressing this issue and if we can even talk about it if we

can even have a conversation of that it then. a leading pharmaceutical company is accused of fueling america's opioid epidemic by aggressively pushing its painkillers and downplaying the risks involved the release of e-mails as part of a multi district lawsuit. hong kong is gripped by protests for the 13th weekend running with rioters throwing firebombs at police responded with tear gas and water cannon we look at how a figurehead of the opposition honed his skills abroad. also this hour leagues e-mails reveal how chemical giant monsanto conspired to discredit a group of mothers who criticized the company's use of pesticides.