in the u.k. an inquiry into the deadly 2017 grip. in the u.k. an inquiry into the deadly 2017 grenfell town ablaze calls out significant systemic failings in the london fire brigade and full time ablaze calls out significant systemic failings in the london fire brigade with little spotlight placed on city and government authorities qualifies as a box with little spotlight placed on city and government authorities fighters have

told us the focus is misplaced far far as to not have told us the focus is misplaced far far as no calls for terms of nor responsible for fixing a from a cold for term of normal responsible for fixing a from the from old material home on the outside of the towers. a new report from the true home on the outside of the towers. a new report by human rights watch says u.s. sanctions are preventing ordinary iranians from record by human rights watch says u.s. sanctions are preventing ordinary iranians from accessing lifesaving medicine. and to me appears in meets with accessing life saving medicine. and to me appears in meets with the hunger in prime minister viktor orban irritating western allies on the same day the hungary and prime minister viktor orban irritating western allies on the same day. hungary vetoes

a joint nato statement toward ukraine. hungary vetoes a joint nato statement toward ukraine. well those are the headlines we're back here next hour with another round up and stay with us for the kaiser report well those are the headlines we're back here next hour with another round up and stay with us for the kaiser reports next here on r.t. international. next here on r.t. international. max kaiser this is the classic. max geyser this is the kaiser report the show you love i know you do yes stay there for the show

you love i know you do yes stacy yes it's important to watch just say oh and we're going to show you some headlines why it's so i'm see yes it's important to watch just say oh and we're going to show you some headlines why it's so important to watch us because if you watch the mainstream news if you listen to the corporate profit or to watch us because if you watch the mainstream news if you listen to the corporate propaganda you might be on the wrong side of many trades now max kaiser you were involved again that you might be on the wrong side of many trades now max kaiser you were involved in the dot com bubble back in the ninety's and what happened during the dot com bubble in the dot com bubble back in the ninety's and what happened during the dot com bubble a lot of people lost a lot of wealth 5 trillion and wealth right and it was the shoeshine a lot of people lost a lot of wealth 5 trillion and wealth right and it was the shoeshine boy the

classic shoeshine boy moment well today as we see the lawyer the classic shoeshine boy moment well today as we see the likes of we work collapse and we see down big time we see lift down big types of we work collapse and we see down big time we see lift down big time and peloton and all these other so-called software companies are a well i'm in peloton and all these other so-called software companies are a well those are being hit but it's called the not com bubble is popping those are being hit but as. called the not com bubble is popping the unicorn massacre unfolding today is exactly the opposite of what happened the unicorn massacre unfolding today is exactly the opposite of what happened in 2000 it is easy to look at today's crop of sinking i.p.o.'s like a limp and in 2000 it is easy to look at today's crop of thinking i.p.o.'s like a lift in peloton or scuttled public offerings like we work and see in erie

resemble it in peloton or scuttled public offerings like we work and see an eerie resemblance to the dot com bubble that popped in 2000 both then and now consumer tech companies that's the dot com bubble that popped in 2000 both then and now consumer tech companies spent lavishly on advertising and struggled to find a path to profit both then and now companies that didn't lavishly on advertising and struggled to find a path to profit both then and now companies that brag about their ability to change the world it is suddenly that they were actually running out of money both bragged about their ability to change the world it is suddenly that they were actually running out of money both then and now the valuations of once heralded tech enterprises were haves in matters of weak then and now the valuations of once heralded tech enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed both then and now there were widespread sense of euphoria curling into soberness wash down with the

realisation that thousands of workers and once promising firms were poised to lay down with the realisation that thousands of workers and once promising firms were poised to lose their jobs that's right we are having another turn of the cycle lose their jobs that's right we are having another turn of the cycle a lot of it us to do with the fact that so much money was raised in the venture capital market subtle a lot of it us to do with the fact that so much money was raised in the venture capital markets to avoid going public and having a dot com replay a lot of these companies to avoid going public and having a. dot com replay a lot of these companies raised a lot of money in the venture capital want to before it ever reached the public market raise a lot of money in the venture capital want to before it ever reached the public market so in the case away work they achieved something like a $48000000000.00 valuation so in the case away work they achieved something like a $48000000000.00 valuation before even going public and during that time this is

what's remarkable to me during before even going public and during that time this is what's remarkable to me during the dot com bubble there was a lot of problems with c.e.o.'s and insider dot com bubble there was a lot of problems with c.e.o.'s and insiders dumping stock right after the i.p.o. there should be a lockup period or dumping stock right after the i.p.o. there should be a lock up period to force people keep people to stay on for at least 6 months or a year to to force people keep people to stay on for at least 6 months or a year to make sure this thing gets out of the gate it without too many problems here make sure this thing gets out of the gate without too many problems here in this era of the we work being a primary example the founder in this era of the we work being a primary example the founder insider was able to dump almost

a $1000000000.00 before the outsider was able to dump almost a $1000000000.00 before the i.p.o. to the sophisticated money not to the dumb money he had he to go to the sophisticated money not to the dumb money he had he was dumped was dumped on malta . there eventually the capital of a commission or turkey with little community which had grown up on this in the last 1015 years on this unicorn mentality chad grown up on this. in the last 1015 years on this unicorn mentality that they were but similar that they were all feeding on the sea that they were but similar that they were all feeding on the same delusion and they had profits early on in a couple of big same delusion and they had profits early on in the couple of big big winners that they were recycling so you're recycling kind of the house money as

big winners that they were recycling so you're recycling kind of the house money as it goes in the valuations keep going higher and higher but there is defectively that goes in the valuations keep going higher and higher but there's a defect to be the same but they're not publicly traded but it will the question is will it have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic same but they're not publicly traded but it will the question is will it have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having the impact in silicon valley that house prices are falling rapidly because a prominent it is having the impact in silicon valley that house prices are falling rapidly because a lot of people were hoping that you know a lot of what if i property or that they could afford or if they were weeping to you know buy properties that they could afford if their we work shares where we

work through or something so. this guy is calling this guy he's calling it the not com bubble not the dot com bubble because in fact the at the not com bubble not the dot com bubble because in fact a lot of these companies are just masquerading as tech companies they're not x. a lot of these companies are just masquerading as tech companies they're not actually tech companies we work it's not a tech company it's the same old fashioned tech companies we work it's not a to. company it's the same old fashioned commercial real estate lending and leasing sort of thing that's been good commercial real estate lending and leasing sort of thing that's been going on as a boring industry that's been around for hundreds of years and it's the same industry but owing out as a boring industry that's been around for hundreds of years and it's the same industry but it's just been was branded as some sort of high tech software company

way that it's just been was branded as some sort of high tech software company where you can get big multiples so why is calling and not com is because the ordinary investor can get big multiples so why he's calling and not com is because the ordinary investor is way smarter right now than the v.c. funds because when the web browser is way smarter right now than the v.c. funds because when the web browser netscape went public aug 9th 1905 the day many site to be netscape went public aug 9th 1905 the day many cite as the beginning of the dot com bubble its stock skyrocketed from 20 $8.00 to $75.00 doug giving of the dot com bubble its stock skyrocketed from $28.00 to $75.00 in a matter of hours even though the company was not profitable and today's market the others in a matter of hours even though the company was not profitable and today's market the opposite is happening unicorns with no pov earnings are happy or getting lost with

. the gurnet games are getting a lot better and you would at the gates we were expel you ation fell more than 80 percent pre i.p.o. when investors balked at its works valuation fell more than 80 percent pre i.p.o. when investors balked at its mounting losses peloton lifton. to a lid to problem with move markets have also struggled to persuade public markets to grade them on a curve also their stock prices fall on the day of the public offering is the 2 suggested them on a curve also their stock prices fall in the. day of the public offering institutions and retail investors are refusing to fork over 2 unicorns the valuations that patients and retail investors are refusing to fork over to unicorn's the valuations that private investors were expecting particularly soft bank a major backer of private investors were expecting particularly soft bank a major backer of a lift and we work this isn't a picture of mass media it's

a picture of a lift and we work this isn't a picture of mass media it's a picture of public so brian where the masses are diagnosing an acute fever of public so brian where the masses are diagnosing an acute fever in private markets bring that back to the opening statement where i said this because you watch kaiser report in private markets i bring that back to the opening statement where i said this because you watch kaiser report we've been covering this we've been i remember misfire science showing charts and saying when we we've been covering this we've been i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that lifton these companies were not we're still in london 3 or 4 years ago saying that lifton these companies were not worth that that they were a ponzi schemes and that one day they were trying to dump it on the public markets for thought that they were a ponzi schemes and that one day they were trying to dump it on the public markets so i think this is also part of that censorship d.

platforming sort of so i think this is also part of that censorship d. platforming sort of thing that we see is like the the corporate media doesn't have control over the thing that we see is like the the corporate media doesn't have control over the dummies you know the dumb money that used to be called the dumb money the average ordinary dummies you know the dumb money that used to be called the dumb money the average ordinary investor out there that is used to dump the private investor money on to the investor out there that is used to dump the private. investor money onto the dot com phenomenon if you going back to that era you know it was technology the dot com phenomenon if you're going back to that era you know it was technology software probably technology driven where the pitch would be a software problem technology driven where the pitch would be a we're going to do publishing on the internet you know in that magazine we're

going to do publishing on the internet you know in that magazines and newspapers will become redundant people will get their news on the internet i mean this and newspapers will become redundant people will get their news on the internet at the time nobody believed that an email at that time i'm to time nobody believed that an email at that time a member of hollywood at the time i was working and it was if you had an email address it was considered a camembert hollywood at the time i was working and it was if you had an email address it was considered a class a because you were considered a nerd nobody with respectable would have an say because you are considered a nerd nobody with respectable would have an email address you know the that that's how until the blair witch project and than everything changed and holly will address you know the that's how until the blair witch project and than everything changed in hollywood because of the internet but here the story of the not com

because of the internet but here the story of the not com v.c. driven unicorn craziness is even more v.c. driven unicorn craziness is even more bizarre in that companies like we work the pitch was more bizarre in that companies like we work the pitch was they're going to own the global real estate market so they found as they're going to own the global. market so the founder was saying that the global real estate market is 5 trillion dollars under was saying that the global real estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that pits raised earlier 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying i'm going to i'm going

to start tens of billions of dollars that would be like saying i'm going to i'm going to start farming you know kumquats on the dark side of the moon because it's farming and you know kumquats on the dark side of the moon because it's it's just i'm the center of the story that. it's just i'm the center of the story that encourages people to take these risks in this era that we're just coming through has become even occurred as people take these risks in this era that we just coming through has become even less less substantial it's never have such such stories of london less and less substantial it's never have such such stories of less substance but have raise some money money money from so substance have raise some money money money from so such a high concentration of the seas and now as you point out it's collapse and of

course there's such a high concentration of v.c.s. and now as you point out it's collapse and of course there unicorns which are mystical magical creatures so it was always that unicorns which are mystical magical creatures so it was always that and it is a world of negative interest rates so there we have gone kind of through a looking and it is a world of negative interest rates so there we have gone kind of through a looking glass where maybe he might imagine that this time having huge losses and glassware maybe he might imagine that this time. having huge losses and being subsidized by your investors and your bondholders because remember there were people being subsidized by your investors and your bond holders because remember there were people bond investors pouring money into. and subsidize bond investors pouring money into. and subsidizing huge percentage of every

ride you take in super is subsidized by these going. for centuries of every ride you take in super is subsidized by these crazy investors i don't know why they pay for half of my or i but they do and i take it and the crazy investors i don't know why they pay for half of my or i but they do and i take it and thank you it's very polite of them but there they were never earning money and there was no hope for it thank you it's very polite of them but there they were never earning money and there was no hope for it we also talked about this in terms of the shale oil production bond investors are pouring but we also talked about this in terms of the shale oil production bond investors are pouring money into it billions and billions of dollars your pension fund your local municipality into it billions and billions of dollars your pension fund your local municipalities your like your state pensions everybody's pouring money into it and we kept maladies here like your state pensions everybody's pouring money into it and we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite

looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are losing money they still haven't made money they didn't make money simply they are losing money they still haven't made money they didn't make money when it was $20.00 a barrel for oil they didn't make money when it was $110.00 a barrel when it was 20 dollars a barrel for oil they didn't make money when it was $110.00 a barrel so they're they're not they're losing money the whole way because that way it read crean syndrome with so they're they're not they're losing money the whole way because that way. red crean syndrome where they have to keep on drilling faster and faster well now it's really really starting to hit again they have to keep on drilling faster and faster well now it's really really starting to hit again just like the no not com bubble where the public markets are saying do you guys just like the no not com bubble where the public markets are saying do you guys aren't making money and you're never going to make money well it's starting to really hit

and the shale oil aren't making money and you're never going to make money well it's starting to really hit in the shale oil sector in america despite all the hype despite that like what you were saying about sector in america despite all the hype despite that like what you were saying about newman with we work where he's like we're going to roll in the global commercial real estate market member all they have a new man with we work where he's like we're going to roll in the global commercial real estate market member all the headlines that america is like we produce way more oil than saudi arabia where we're not mines that america's like we produce way more oil than saudi arabia where we're an oil rich nation you know like them foil field services face crisis as scheuer a rich nation like them foil field services face crisis as shale slowdown worsens shell oil producers are under fire from investors ale slowdown worsens shell oil producers are under fire from investors while most analysts see a supply in 2020 the 1st and 3rd largest oil field while most analysts see

a supply in 2020 the 1st and 3rd largest oil field service companies in the world saw their earnings hit in the 3rd quarter due to the slow service companies in the world saw their earnings hit in the 3rd quarter due to the slowdown in the u.s. shale drilling schlumberger took a $12700000000.00 imperiled out in the u.s. shale drilling schlumberger took a 12 point $7000000000.00 impairment charge related to its north american business a rather dramatic slowdown that moment charge related to its north american business or. rather dramatic slowdown that led to an $11400000000.00 loss for the quarter the largest in the company's history led to an $11400000000.00 loss for the quarter the largest in the company's history quote that's a sizable right down from pressure pumping business that just tells you the state of quote that's a sizable right down from pressure pumping business that just tells you the state of north american onshore market being pretty poor said anish founder of oil north

american onshore market being pretty poor said anish founder of oil and gas consultancy firm a cap and the cost of getting a barrel of oil and gas consultancy from a cap and energy to the cost of getting a barrel of oil in saudi arabia the galois oil field is like $2.00 yeah in america to go to arabia the galois oil field is like $2.00 yeah in america to get a barrel of oil you need to borrow 20000 bucks to borrow 20000 which is easy in a barrel of oil you need to borrow 20000 bucks to borrow 20000 which is easy because what we're saying here the unicorn economy they they just they learn they learn trillions at no cost because of what we're saying or the unicorn economy that they just they learn they learn trillions at no cost so now when rates go up as they will because as night follows day at ok so now when rates go up as they will because as night follows day as gravity exists as there is

a heaven and hell there rates are going to gravity exists as there is a heaven and hell their rates are going to go up and that means that the saudis can still get a barrel oil for to blow up and that means that the saudis can still get a barrel oil for $2.00 but you can't borrow $10.00 to $20000.00 in a barrel or in the next. but you can't borrow $10.00 to $20000.00 in a barrel all in the in the u.s. if the cost of this goes up beyond what you can afford it but $1.00 thing we always mention was that in the u.s. if the cost of this goes up beyond what you can afford it but one thing we always mentioned was like ok where. we're number one while producers but of course like ok where. we're number one while producers but of course saudi arabia kuwait iran iraq russia they all they're like saudi arabia kuwait iran iraq russia they all they're like yeah but only cost us a few bucks like we we know you're spending $70.00 to pull out that yeah but only

cost us a few bucks like we we know you're spending $70.00 to pull out that same barrel of oil right the same thing was happening with the taxi market the taxi driver same barrel of oil right the same thing was happening with the taxi market the taxi drivers know how much it costs for all the regulations that the insurance the gasoline the driver and their allies know how much it costs for all the regulations that the insurance the gasoline the driver and they're like yeah you're like eating our lunch technically right now but. yeah you're like eating our lunch technically right now but you're losing money late how is that even a business so they're very similar these are losing money late how is that even a business so they're very similar these 2 in terms of the magical quality if you have access to unlimited money and $2.00 in terms of the magical quality if you have access to unlimited money and 0 percent interest rate you're going to try to

do something like dominate the global taxi business 0 percent interest rate you're going to try to do something like dominate the global taxi business you're going to try to dominate the global energy business you'll try to dominate the global real estate market those are going to try to dominate the global energy business you'll try to dominate the global real estate market those are stablish businesses you want to dominate them because you're literally being given unlimited. businesses you want to dominate them because you're literally being given unlimited financing at almost 0 percent costs so financing at almost 0 percent costs so if you're a megalomaniac if you're a psychopath you'd say you know what i want to if you're a megalomaniac if you're a psychopath you'd say you know what i want to be the number one realtor or on planet earth and you go to wall street they say well be the number one realtor or on planet earth and you go to wall street they say well here's $50000000000.00 and

go take out some long term leases all over the years 50000000000 dollars and go take out some long term leases all over the world to become the number one property owner in the lease or not owner god forbid world to become the number one property owner in the lease or not owner for a bit and then try to rent it out on a short term basis and 015 months later and then try to rent it out on a short term basis and 015 months later it's not worth $40000000000.00 or $50000000000.00 it's actually maybe worth 2000000000 corina one analyst's not worth 40000000000 or 50000000000 it's actually maybe worth 2000000000 corina one analyst going to 000 how predictable is that where you predict going to 0. how predictable is that what are you predictable if we only go for the magic if we believe the magic story if we lose the capacity to actionable if we only go for the magic if we believe the magic story if we lose the capacity to actually produce energy or if he'd lose the capacity to actually have

a say in how to produce energy or if he'd lose the capacity to actually have a say in housing and property market or like a food market an agricultural industry like it is is a new property market or like a food market an agricultural industry like it is it is costly to produce protein but we've we've done the same that we've done with it is costly to produce protein but we've like we've done the same that we've done with super and gasoline and with fracking is that we pretend like we can have magical food that goober and gasoline and with fracking is that we pretend like we can have magical food that provides all these ingredients and nutrition there's no magic it's the kaiser vides all these ingredients and nutrition there's no magic it's the kaiser report but max the stacy don't go away we'll be back after the. for what max the stacy don't go away we'll be back after the.

2 days there are good terrorists and bad the bad terrorists and those in the there are good and bad editors the bad terrorists and those in yemen who the united states deems to be a threat the good terrorists of those award in 7 the united states deems to be a threat to the good terrorists of those award in syria the cia and the u.s. military were engaged in covert actions really the cia and the u.s. military were engaged in covert actions really throughout the world. where they were assassinating populist leaders dropped the world. where they were assassinating populist leaders they were backing up the right way military juntas funding an army of death squads there they were backing up the right way military juntas funding an army of death squads there's no any more because there's always

a small. and because there's always a small for really good. profit. really good. profit. during the great depression which. during the great depression which i'm old enough to remember there was most of my family were unemployed working old mr remember there was and most of my family were unemployed working. there wasn't it was bed you know much worse objectively than today but it wasn't it was bed you know much worse objectively than today but there was an expectation that things were going to get better. there was a real 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 where shape my whole

sense of hopefulness there isn't today today's america was shaped by the 10 principles of concentration of wealth and power. in the 10 principles of concentration of wealth and power. reduce democracy attack solo doubt. reduce democracy attack solo doubt engineer elections manufacture consent and other principle holds true near elections manufacture consent and other principles according to no on combs to one set of rules for the rich according to no. chomsky's one set of rules for the rich opposite. that's what happens when you put opposite. that's what happens when you put her into the hands of

a narrower sector of will which were into the hands of a narrower sector of will switch will is dedicated to increasing power for itself just as you'd expect one of the mogul is dedicated to increasing power for itself just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilized influential intellectuals of our time speaks about the modern civilization of america. zation of america. welcome back to the kaiser report time now to return to our conversation with the

me of club world welcome back to the kaiser report time now to return to our conversation with the club or lived up blogspot dot com to me to welcome back great to be with you again next year over and same blogspot dot com dimitri welcome back great to be with you again next year over in st petersburg in russia we. we were talking about really what petersburg in russia we. we were talking about really what's happening the global economy we've got the ascent of china we've got the ascent of russia we've got happening the global economy we've got the ascent of china we've got the ascent of russia we've got the u.s. seemingly twiddling their thumbs you're talking about russia and china at the u.s. seemingly twiddling their thumbs you're talking about russia and china pretty much as centralized governments you use a phrase of pretty much as centralized governments you use the phrase stalin ism 2.0 and you know as an american stalin ism 2.0 and

you know as an american i look at this and i say ok i would think that a decentralized approach that we have and i look at this and i say ok i would think that a decentralized approach that we have in america is is something to pursue but clearly the u.s. model is breaking barack is is something to pursue but clearly the u.s. model is breaking down for various reasons so we got to get a priest but your perspective i think is extremely valid for various reasons so we've got to get a perspective your perspective i think is extremely valuable here we want to continue and i just want to ask you also you know it's interesting able here we want to continue and i just want to ask you also you. what's interesting happening in germany dimitri despite threats of sanctions germany a happening in germany dimitri despite threats of sanctions germany is embracing china's cheap 5 g. technology the u.s. says no it's embracing china's cheap 5 g.

technology the u.s. says no 5 g. technology and you know germany seems to be like a swing 5 g. technology and you know germany seems to be like a swing vote here between this struggle between the u.s. china and vote here between this struggle between the u.s. china and russia germany it know if they could they've been a u.s. ally then russia germany it know if they could they've been a u.s. ally they could be up for grabs they could enter into that alignment with russia it could be up for grabs they could enter into that alignment with russia china dimitri what do you think it's difficult for germany because they have to read china dimitri what do you think it's difficult for germany because they have surrendered a great deal of their sovereignty to the united states after world war 2 and then i

heard a great deal of their sovereignty to the united states after world war 2 and then is germany of course ceased to exist and its sovereignty went over to the you know is germany of course ceased to exist and its sovereignty went over to the united states as well so they're not really in charge of their own affairs but on the arctic states as well so they're not really in charge of their own affairs but on the other hand the americans are so asleep at the wheel right now that you know when the cat's away their head the americans are so asleep at the wheel right now that you know when the cat's away to moscow the mice will play and so the germans do end up doing a lot of things to moscow the mice will play and so the germans do end up doing a lot of things that americans don't necessarily approve off just building lots of factories in russia that americans don't necessarily approve off just building lots of factories in russia. so i think that germany could get close.

so i think that germany could get closer and closer to russia as the united states drifts father and us are closer to russia as the united states drifts farther and farther away on terms of technological lead you know 5 cheesed further away on terms of technological lead you know 5 g. is just one example there are lots of others were. both the united states just one example there are lots of others were. both the united states and the europeans have lost their edge nuclear energy is as wax and the europeans have lost their edge nuclear energy is is one of them for instance americans no longer know how to enrich uranium of them for instance americans no longer know how to enrich uranium they rely. on russia to do that for them and for them they rely.

on russia to do that for them and france to some extent but russia is by far the funniest along in ants to some extent but russia is by far the foggiest along and in that in that program they also have failed in that in that program they also have failed basically lost the competency to build nuclear reactors basically lost the competency to build nuclear reactors. and within budget all of their projects latest projects and within budget all of their projects latest projects have been complete disasters the united states has $100.00 nuclear reactor and complete disasters the united states has $100.00 nuclear reactors producing quite

a lot of the electricity and these are all aging out they're going to be shutters producing quite. a lot of the electricity and these are all aging out they're going to be shut down but they don't know how to replace the united states doesn't know how to build icebreakers it down but they don't know how to replace the united states doesn't know how to build icebreakers anymore it's been decades since they built one o. the people who knew how to build one are either but anymore it's been decades since they built one well the people who knew how to build one are either retired or or pushing up daisies so the united states has stance no tired or or pushing up daisies so the united states has stands no chance in terms of exploiting the arctic chances in terms of exploiting the arctic alongside russia which you know the arctic is thawing out a lot of opportunities alongside russia which you know the arctic is thawing out so a lot of opportunities there and the americans won't be able to make use of them

not only is this american big and the americans will be able to make use of them not only is this american bigotry toward russia kind of circa soviet union times khichri toward russia kind of circa soviet union times but america is perception of russia's financial prowess and manufacture but america's perception of russia's financial prowess and manufacturing abilities etc are as also completely out of date i don't think people understanding abilities etc are as also completely out of date i don't think people understand that for us of economy has been thriving in our alongside and that for us of economy has been thriving in no alongside china. and this is the tragedy of all this is that ajna. and this is the tragedy of all this is that there's just a lack of information in the us if i watch cable news i'm i looks like i'm watching

that there's just a lack of information. in the u.s. if i watch cable news i'm looks like i'm watching russia soviet t.v. from the 1950 s. there's been no updating to anyone's files over russia soviet t.v. from the 1950 s. there's been no updating to anyone's files over there c. and b. c. and b. c. a b. c. they are living completely in the path they're at c. and b. c. and b. c. a b. c. they are living completely in the past i want to kind of talk a little bit about these waves of economic process i want to kind of talk a little bit about these waves of economic protests been happening across the world from chile france spain iraq lebanon haiti been happening across the world from chile france spain iraq lebanon haiti mostly to do with austerity high prices economic mismanagement. mostly to do with austerity high prices economic mismanagement is there a bigger story going on here oh yes there's the whole industry is there

a bigger story going on here oh yes there's a whole industry in fomenting use revolt in various countries around the world it works dementing use revolt in various countries around the world it works through various western and geos. social media companies are involved in various western and geos. social media companies are involved. a lot of oligarchy are throwing money at it that's. a lot of oligarchy are throwing money at it this is a way. of lighting economic backfires in order to trace is a way. of lighting economic backfires in order to drain any extra cash towards the financial centers in london that washington in any extra cash towards the financial centers in london that washington so basically if for it they would bomb

a country and steal its gold they did that so basically if for it they would bomb a country and steal its gold they did that to libya as they did that to iraq. they stole the craigs gold cetera libya as they did that to iraq. they stole the craigs gold cetera just to basically prop up this western bubble economy scheme for a little further just to basically prop up this western bubble economy scheme for a little further for a little longer now they can't even afford to just do a bombing campaign so instead they say for a little longer now they can't even afford to just do a bombing campaign so instead they sacrifice a young people off one country after another you know i think it's record 5 a young people off one country after another you know thinking that you know this is the meat generation not the milk generation because financially there's. that you know this is the meat generation not the milk generation because financially there's no way to milk these young people so what why don't we just go ahead no way

to milk these young people so what why don't we just go ahead and sacrifice them and you know this is just a way of causing capitan sacrifice them and you know this is just a way of causing capital flight. knocking various economies out else light. knocking various economies out so that they can't compete for increasingly scarce financial so that they can't compete for increasingly scarce financial resources. you know this is this is a very nasty thing that will resources. you know this is this is a very nasty thing that's going on it has very little to do with with corruption as i like to say the united states is the most it's going on it has very little to do with with corruption as i like to say the united states is the most corrupt country in the world because their corruption corruption has been legalised it's called

corrupt country in the world because their corruption corruption has been legalised it's coke lobby all other countries in the world are less corrupt than the united states so bloody all other countries in the world are less corrupt than the united states so western inspired anti-corruption drives here and there and everywhere you know that that western inspired anti-corruption drives here and there and everywhere you know that that's just propaganda that that's just a what a rabble rousing kind of approach is just propaganda that that's just a what a rabble rousing kind of approach when you say the u.s. is the most corrupt nation and i'd love to be able to argue that's not well when you say the u.s. is the most corrupt nation but i'd love to be able to argue that's not the case but then i remember jamie dimon over there j.p. morgan being prosecuted. the case but then i remember jamie dimon over there j.p. morgan being prosecuted and investigated for racketeering and massive multi

$100000000000.00 of fraud they've been investigated for racketeering and massive multi $100000000000.00 of fraud it's hard to argue you know what you say it's hard to argue but your bank if you know you meant. that that that the financial centers london and new york beef centers and said this isn't just global crystal randa new york are the centers of this global corruption and i think about russia russia doesn't have that kind of finance and i think about russia russia doesn't have that kind of financial center it is got it's kind of like divorcing itself it will center it is got it's kind of like divorcing itself from the financial ization of the global economy by buying 100 from the financial ization of the global economy by buying hundreds and hundreds of tons of gold you know they're going is russia going to come out with

a gold backed currency hundreds of tons of gold you know they're going is russia going to come out with a gold backed currency i'd say i realized that this is realize that this is a bit of a speculation but it seems i think once i made maybe russia and china are going to come out with a goal they will go battled back or parsec really go back are silly gold backed currency. or china has been speculated well now they've got 20000 tonnes of gold which is more than anyone understand that they been speculated well now they've got 20000 tonnes of gold which is more than anyone understand that they have or might have is that is that going to be you know you wrote the collapse have or might have is that is that going to be you know you wrote the collapse gap and is that the pin on the hand grenade that's going to be kept and is that the pin on the hand grenade that's going to be pulled that's going to put the dollar into

a fatal tailspin he pulled that's going to put the dollar into a fatal tailspin the death dive is that somebody is going to announce a gold backed currency dimitri i think the death dive is that somebody is going to announce a gold backed currency dmitri i think the strategy both for russia or china is to let the americans do it all the strategy both for russia or china is to let the americans do it oh to themselves by themselves. i won't be anyone to themselves by themselves. i won't be anyone but themselves to blame. the americans are following along with us but themselves to blame. they americans are following along with this program really well with a program of sept sanctions limiting people's access to program really well with a program of sept sanctions limiting people's access to dollar transactions threatening to cut people off from the swift network for instance dollar

transactions threatening to cut people off from the swift network for instance they're basically a site of the branch on which they're perched they're doing that themselves they're basically psyched for the branch on which they're perched they're doing that themselves nobody has to help them now what russia and china will do is continue nobody has to help them now what russia and china will do is continue to do trade between the 2 countries and with other countries to trade between the 2 countries and with other countries. for imperious other trade consortia based on local currencies. foreign terrorists other trade consortia based on local currencies there is currency swaps will be backed by gold get gold guarantees if you there is currency swaps will be backed by gold get gold guarantees if you will just to stabilize things to make sure that it's not just

a perk we'll just to stabilize things to make sure that it's not just a perk but that's probably all it's going to be and of course nobody is really interested in nature but that's probably all it's going to be and of course nobody is really interested in major financial destructions which will occur but they will be produced by the united financial destructions which will occur but they will be produced by the united states acting alone i'm afraid all my doubt planning and i know that both i'm young of a different bell macro lot and now engineer i know that background in engineering. you know you know what do you think about this this book boeing 7337 since the. and on all the all the other on the plane. there they are outsourcing sing some software off our swear to 2 minimum wage workers and workers incident india while on the one call the executives are buying bank back pain feeling of staying out of

for the muslims a mess i can see and. ella going in and in and out that's you know that seems pretty corrupt to me did you take a look at that what it what do you think it's really miserable seems pretty corrupt to me did you take a look at that what it what do you think it's really miserable how the engineering culture in the united states has decayed how the engineering culture in the united states has decayed and it it's it's it's really it's really a question of a question of joshua explicit that is often a 6th sense that the focus on in a sense that's in a fair and honest and see where there's or the engineers and the whole mindset in the united states is you basically hired financial heirs and the whole mindset in the united states is you basically hire and fire and shares as needed to do a particular job if you find an engineer hire edge and ears as needed to do a particular job if you find an engineer who is cheaper in india then you hire him even you know other engineers will tell you who is cheaper in india then you hire

him even if other engineers will tell you that well the level of competence is just not the same it doesn't matter it's all about money well the level of competence is just not the same it doesn't matter it's all about money 'd none of it has to do with the characteristics of a physical systems at all none of it has to do with the characteristics of a physical systems at all and basically it's a prescription for disaster because money money meant do not and basically it's a prescription for disaster because money money meant do not understand engineering to the extent needed you know to effectively manage it how to stand engineering to the extent needed you know. to effectively manage it now what the chinese and the russians do is they promote engineers to point response at the chinese and the russians to us they promote engineers to point responsibility executives responsibility they don't just hire money to do that to do it executives

responsibility they don't just hire money to do that i love your point about milk and meat you know there's you can milk i love your point about milk and meat you know there's you can milk this next generation well as paul krugman would suggest that we only all the debt to our south this next generation les paul krugman would suggest that we only all the debt to ourselves he says are just be milking the the youth until they can no longer be belt and he says he just be milking the the youth until they can no longer be belt and then their meat in the case of the us all the student debt has forced the students now to bend their meet in the case of the us all the student debt has forced the students now to go off for their meat as military conscripts to go fo offer their meat as military conscripts to go fight people there even know who they're fighting it's just

a generic war that they my people there even know who they're fighting it's just a generic war that they go out and try to pay back their student debt and certainly a see that happening live go out and try to pay back their student debt and certainly a see that happening let me you know as again another engineering question and negative interest rates you know last time let me you know as again another engineering question in negative interest rates you know last time we talked there's no such thing existed and it had never been contemplated in the history of the world we talked there is no such thing existed and it had never been contemplated in the history of the world this is an engineer. something going on the financial this is an engineer. what is something going on the financial engineers here negative interest rates isn't crazy when you think about this with negative interest rate engineers here negative interest rates isn't crazy when you think about this with negative interest rates will become these financial and to poach that hop around on their heads you know it's we become these financial and to

poach that hop around on their heads you know that we're paid to borrow we are fight for saving. but we're paid to borrow we are fight for saving. it's it's insane and it will go on for any length of time it's it's insane and it will go on for any length of time because basically the incentives for participating in any kind of because basically the incentives for participating in any kind of a banking scheme evaporate so the only thing you have left is kind of a banking scheme evaporate so the only thing you have left is kind of force like there is no cash you have to use your your credit card force there is no cash you have to use your your credit card for everything. oh your body has to be within the

side actual institution which hard for every saying. oh your body has to be within the side actual institution which will slowly confiscated over time. co is going to go along will slowly confiscated over time and co is going to go along with that scheme you know who for any length of time will put out with that sort of nonsense with that scheme you know who for any length of time will put out with that sort of nonsense so it's just a question of time there's a lot of social airship people will you know because so it's just a question of time there's a lot of social airship people you know because they're losing a little bit of money at a time right now. you know they're out there losing a little bit of money at a time right now. you know they don't go put put up which i took the time being but you know i did so mike's trail put put up with the truth the time being but you know i did some like straight project projections in terms of over lower interest

rates. project projections in terms of over lower interest rates. if you just like plotted out it turns out you know it looks like we're going to have this issue just like plotted out it turns out you know it looks like we're going to have to have ever more negative interest rates that's what a lot of guests of ours are saying and we've got to have ever more negative interest rates that's what a lot of guests of ours are saying i'm gonna go quick question how long would it take me to grow a beard like that 3 ago quick question how long would it take me to grow a beard like that 3 years thank you add to major for being on the kaiser fork thank you well there's thank you add to major for being on the kaiser report thank you well that's going to do it for this edition of the kaiser report with me maximizer and stacy herbert want to thank our guests going to do it for this edition of the kaiser report with me max foster in stacey herman want to thank our guest amaechi orloff if you want to catch us on twitter it's kaiser report until next time it's

matri orloff join to catch us on twitter it's kaiser report until next time by. join me everything on the alex simon sure. join me every thursday on the alex salmond show and i'll be speaking to. politics. i'm sure i'll be speaking to the politics. i'm show business i'll see you then.

i'll see you then. all across the middle. all across the middle east and beyond there are large scale protests and growing political instability in many countries and beyond there are large scale protests and growing political instability in many countries the old ways of doing business only in rich privileged elite while the prospects for trees the old ways of doing business but only in rich privileged elite while the prospects for the many are few and far in between to the elites have answers to today's for the many are few and far in between to the elites have answers to today's growing problem. growing problem. it's. just so.

cute q. . eat it work and eat it work it. it it. it it can take. it and. it was it was it and the feel of it with it was it worth it to have difficulty with it.