well those are being hit but it's called the not com is right well those are being hit but it's called the not com bubble is popping the unicorn massacre unfolding today is exactly bubble is popping the unicorn massacre unfolding today is exactly the opposite of what happened in 2000 it is easy to look at today's crop of think a the opposite of what happened in 2000 it is easy to look at today's crop of thinking i.p.o.'s like lifton peloton or scuttled public offerings like we work in i.p.o.'s like a lift 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 and see an eerie resemblance to the dot com bubble that popped in 2000 both then and now consumer tech companies spent lavishly on advertising and struggle to find a path to profit consumer tech companies spent lavishly on advertising and struggle 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 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 then and now the valuations of once heralded tech enterprises were happy running out of money both 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 in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the realisation that thousands of workers and once promising for hurdling into soberness washed down with the realisation that thousands of workers and once promising firms were poised to lose their jobs that's right we are we're poised to 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 buying another turn of the cycle a lot of it us to do with the fact that so much money was raised in the van.

capital markets to avoid going public and having a dot com replay venture capital markets 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 a lot of these companies raised 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 40 $8000000000.00 in the public market 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 dollar valuation 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 insiders dumping stock right after the i.p.o. there's all to me during the 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 to force people keep people to stay on for

a libya lockup period to force people key people to stay on for at least 6 months or a year to make sure this thing gets out of the gate without too many 6 months or a year to make sure this thing gets out of the gate without too many problems here in this era the we work being a primary example the problems here in this era of the we work being a primary example the founder an insider was able to dump almost a 1000000000 dollars will the founder insider was able to dump almost a $1000000000.00 before the i.p.o. to the sophisticated money not to the day before the i.p.o. to the sophisticated money not to the dumb money he had he was dumping it on multi-billionaires the venture come money he had he was dumping it on multibillion erris the venture. capital community which had grown up on this in the last 1015

years up a whole community which had grown up on this in the last 1015 years on this unicorn mentality that they were but it's similar that they were on this unicorn mentality that they were but it's similar that they were all so feeding on the same delusion and they had prophets early are all so feeding on the same delusion and they had prophets early on in a couple of big big winners that they were recycling so you recycling kind of on in a couple of big big winners that they were recycling so you recycling kind of the house money as it goes in the valuations keep going higher and higher but house money as it goes in the valuations keep going higher and higher but there is a defect to be the same but they're not publicly traded but it will the question defectively 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 phenomenon 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 and therefore a wider economic phenomena it is having the impact in silicon valley that house prices are falling rapidly because a lot of people were hoping to you know buy properties that they could are falling rapidly because a lot of people were hoping to you know buy properties that they could afford if their we work shares were worth something so now if ford if their we work shares were worth something so now there is this guy who's calling it the not com bubble not the dot com they're this guy who's calling it the not com bubble not the dot com bubble because in fact a lot of these companies are just masquerading as tech company bubble because in fact a lot of these companies are just masquerading as tech come. anees they're not actually

tech companies we work it's not a tech company anees they're not actually tech companies we work it's not a tech company it's the same old fashioned commercial real estate lending elite it's the same old fashioned 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 thing sort of thing that's been going on it's 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 and it's the same industry but 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 a software company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right now than the v.c. funds because the ordinary investor is way smarter right now than the v.c. funds because when the web browser netscape went public aug 9th 1905 because when

the web browser netscape went public aug 9th 1905 the day many sites as the beginning of the dot com bubble its stock skyrocketed from 28 day many site to the beginning 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 $1.00 to $75.00 in a matter of hours even though the company was not profitable and today's market the opposite is happening unicorns with no positive earnings are getting slaughtered and today's market the opposite is happening unicorns with no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i.p.o. at the gates we were expel you ation fell more than 80 percent pre i.p.o. when investors balked at its mounting losses peloton lifton guber have also struggled to cope when investors balked at his mounting losses peloton lifton hooper have also struggled to. persuade public markets to grade them on

a curve also their stock prices fall on the day of the persuade public markets to grade them on a curve also their stock prices fall on the day of the public offering institutions and retail investors are refusing to fork over to unicorn offering institutions and retail investors are refusing to fork over to unicorns the valuations that private investors were expecting particularly softens the valuations that private investors were expecting particularly softbank a major backer of a lift and we work this isn't a picture of mass meet bank a major backer 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 and it's a picture 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 an acute fever 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 just because you watch kaiser report 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 charts and saying when we were 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 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 so i think this is also part of that censorship public markets so i think this is also part of that censorship d. platforming sort of thing that we see is like the the corporate media d. platforming sort of 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 doesn't have control over the 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 that private investor ordinary investor out there that is used to dump the private investor money onto the dot com phenomenon if you're going back to that era you aster money on to the dot com phenomenon if you're going back to that era you know it was technology a software problem in technology driven where it was technology a software problem in technology driven where the pitch would be we're going to do publishing on the internet the pitch would be we're going to do publishing on the internet you know in that magazines and newspapers will become redundant people will get there and you know in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that and even news on the internet at the 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 e-mail well 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 class a because that you were considered a nerd nobody with a dress it was considered a class a because you were considered a nerd nobody with a respectable would have an e-mail address you know the that that's how until the blair witch project respectable would have an email address you know the that that's how until the blair witch project and then everything changed in hollywood because of the internet but here the story of the 2nd than everything changed in hollywood because of the internet but here the story of the not com vc driven unicorn crazy and not com vc driven unicorn craziness is even more bizarre in that companies like we work is even more bizarre in that companies like we work. the pitch was they're going

to own the global real estate market the pitch was they're going to own the global real estate market so the founder was saying that the global real estate market is market so the founder was saying that the global real estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that 5 trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying that pets raised 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 them going to i'm going to start farming you know kumquats on the dark side of the moon because it's it's just i'm the thinner the still moon because it's it's just i'm the the center of the story that

encourages people to take these risks in this era that we're just coming theory that encourages people to take these risks in this era that we're just coming through has become even less less substantial it's never have such the true has become even less less substantial it's never have such the such stories of lost substance have raise some money money money such stories of lost substance have raise some money money money from so such a high concentration of the seas and now as you point out from so 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's collapse and of course there unicorns which are mystical magical creatures so it was always that and it is a world of negative interest rates so there we have it was always that and it is a world of negative interest rates so there we have. gone kind of through

a looking glass where maybe hugh might imagine that this time have gone kind of through a looking glass where maybe hugh might imagine that this time having huge losses and being subsidized by your investors and your bond holders because a huge losses and being subsidized by your investors and your bond holders because remember there were people bond investors pouring money into member there were people bond investors pouring money into. and subsidizing huge percentage of every ride you take in and subsidizing huge percentage 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 or 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 thank you it's very polite of them but there they were never earning money when 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 we also talked about this in terms of the shale oil

production and there was no hope for it 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 investors are pouring money into it the billions and billions of dollars your pension fund your local municipalities your like your state pensions everybody's pouring money fund your local municipalities your 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 into it and we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are losing money that they still haven't said just quite 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 one $100.00 money they didn't make money when it was $20.00 a barrel for oil they didn't make money when it was a high. in $10.00

a barrel so they're they're not they're losing money the whole way because that way it did in $10.00 a barrel so they're they're not they're losing money the whole way because that way it read crean syndrome where they have to keep on drilling faster and faster well now it's really really crean syndrome where they have to keep on drilling faster and faster well now it's really really starting to hit i started like them to know not. get all winter at the public market not com bubble where the public markets are saying do you sense you guys aren't making any is you guys need us aren't making money going and you never were going to make money well it's starts going to start really really hit in the shale oil in the shale oil or in america despite all the hype despite that by that like what you were saying about newman with we work where he's like well you know only global like what you were saying about newman with we work where he's like we're going to own the global commercial real estate market member all the headlines that america is the same market we can

produce are we more or oil although the head of saudi mines that america's like we produce way more oil than saudi arabia where we're an oil rich near even be aware. that you know like oil oil field services services face crisis as a as just shale slowdown slowdown we're worse than shell oil producers are under under fire from investors almost analysts. that invest money those. in 2020 the 1st and 3rd largest oil field service company largest in the just oil world of their risk comes in the 3rd world cold saw their earnings hit in the 3rd quarter due to the slowdown in the u.s. shale drilling schlumberger took a 12 porter due to the slowdown in the u.s. shale drilling schlumberger took a $12700000000.00 impairment charge. related to its north american business or

rather point $7000000000.00 impairment charge related to its north american business a rather dramatic slowdown that led to an $11400000000.00 loss for the quarter the largest matic slowdown that led to an $11400000000.00 loss for the quarter the largest in the company's history and the niece has a history. of all run down from pressure pump pumping business in a business that's that's just tell just those tells you this is the state of north america working on american author months markets were being marked pretty putting work pretty support and supported and. found that around. and get folks asked to confirm it's all to be kept safe and from jim bacon of how to cook it all centers of the cost of getting a barrel of oil about saudi arabia l.-a for. oil. the galois oil fish don't like like 2 bucks in america to get a barrel of oil you need to borrow 20000 bucks to borrow 20 in america to get

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 trances attention which is easy because what we're saying here the unicorn economy they they just they learn they learn trillions at no cost ok so now when rates go up as they will because only and said no cost ok so now when rates go up as they will because as night follows day as gravity exists as there is have and has as night follows day as gravity exists as there is heaven and hell there rates are going to go up and that means that the saudis can still go their rates are going to go 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 a barrel oil for $2.00. but you can borrow $10.00 to $20000.00 in a barrel or in the in the u.s. and the cost of this goes up beyond what you can afford it but when i was in

a barrel or in the in the u.s. and the cost of this goes up beyond what you can afford it but one thing we always least mention. where. where we're at now like what we're number one while producers are serious but of course. saudi arabia who. and iran are rather rock russia they all they have they're all alike they're like yeah but all yelling about all calling says kos a few. weeks like we know we know your so you better stick spending 70 bucks to pull out that same barrel barrel oil of oil right the same the stink it was setting up was setting up a wedding with the tax exceed market the tax the 2 track i receive drivers know how much is know how my coffee cost for us for all their all the regulations nations they think they should share in france think the gas a gasoline the driver and they're like yeah you're like eating our lunch telling

the driver and they're like yeah you're like eating our lunch technically right now but you're losing money les how is that even a business so they're nuclear right now but you're losing money les how is that even a business so very very similar the states to in turn terms of the magical if you have access to unlimited money and 0 percent interest rate you're going to try to do something like domination is to unlimited money and 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 global taxi business you're going to try to dominate the global energy business you'll try to dominate the global real estate market they are those. businesses those are it's going to dominate as it doesn't because as you you know you are literally beyond but i hate them because you're literally being given unlimited fine at getting of an almost unlimited percent

find it and sing at almost 0 percent. oh it's a few. remaining megalomania yeah like if you're if you're a star psychopath. you'd say you know what i want to be the number one realtor or on planet earth. well you know what i want to be the number one real chore on planet earth and you know what also will say well there's a will here all there is just. go to take out i'm going to take out some long term. that all of us over the wall are all over the world to become our own and all them or want to. wander in the. lease or eleanor on the lease or not owner god forbid not only owner and then try to rent it for now but on a short term basis and. and then try to rent it out on a short term basis and 15 months later it's not worth $40000000000.00 or $50000000000.00 it's actually maybe worth 15 months later it's not worth

$40000000000.00 or $50000000000.00 it's actually maybe worth 2000000000 cordingley and along on the on going list is 0 going on is 000 how predictable how predictable is that. if we were the only go if we only had to go to the mad over the many bad leave the magic story of story if we lose the capacity to actually produce energy. they have to actually produce energy or if you lose the capacity to actually have a say in housing in property market or like a food market how goes the calling them sort of property market or like a food market an agricultural industry like it is it is costly to produce tree probably gets it is it it is but. it's protein but we've we've done the same that we've done with her and gasoline and with fracking is that we same

thing we've done with her and gasoline and with fracking is that we pretend like we can have have magical food that would provide the valuable these all these ingredients city and new nutrition information this is not this no matter how magic . it's the it's the kaiser it ties are important but max that's the status you see duck duck go go i will be back after this for the. old cd player the way things he's called by showing persistent old super center

stage mesh imagine our magical thinking believing weird things like that is not a bug in the system thinking believing weird things like that is not a bug in the system it's if the feature is a quick trip is a good one that we have software there are of are good from this our grandson me off where of our programming to to try to make things and as an acme inviting armies in name just by stinker mate says or just conjecture case there's a real connection.

welcome back to the caucus as a reporter our time i'm not out to return are under a kind of conversation with want to meet your club or lived up blogspot dot com

dimitri welcome back great to be with you meet your club or lived up blogspot dot com dimitri welcome back great to be with you again next year over over and same thing painters berber going to russia we are. you're in you are to what we were talking about really thing about how to really what's happening the glowing noble glow economy on me we've got we've got the ascent of the china we know we've got the you've got the assessment of the russia we've got that the us has seen seemingly twiddling their thumbs. you're talking about going about russia and china and china in a very very much as. some sense entre wise government since. you used for a phrase aist stalin as i'm trying to point out oh and and

you know as a resident erik and i do look at i look at this like this and i honestly. think with that that think a dispassionate decentralized across about approach that we have we have in america america is is is something to pursue but to clip clearly what the us model is brace mocking well it does bring out going from debt very very serious and serious so he doesn't want to get so impressed because getting your perspective at a priest but your perspective i think is extremely valuable here we want to continue and i just want to add if i think is extremely valuable here we want to continue and i just want to ask you also you know it's interesting happening in germany dmitri despite threats you also you know it's interesting happening in germany dimitri despite threats of sanctions germany is embracing china's cheap 5 g. technology of sanctions germany is embracing china's cheap 5 g. technology the u.s. says no 5 g.

technology. in the end yes i know there's no fatah technology and you know germany seems to be like a swing vote here between this struggle between the us army seems to be like a swing vote here. between this struggle between the u.s. china and russia germany it know if they could they've asked china and russia germany it no if they could they've been a u.s. ally they could be up for grabs they could enter into that alignment in a u.s. ally they could be up for grabs they could enter into that alignment with russia china dmitri what do you think it's difficult for germany with russia china dmitri 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 take a state have surrendered a great deal of their sovereignty to the united states after world war 22 and then

and. many of our soft is just if you're examining as a source see it has to exist and its sovereignty went over to the sovereignty united went over to the united states as well so they're so not really their leader not charge really really you know us in charge of their own affairs but on the other hand the american there can answer so i haven't made any but erica the weeds really are so unlikely but opt out that we have right now that. you know when when the cat's away to my way also most awesome i spoke to much less pay and say so the german ones and. instead to end up doing a lot about a fake lot of things that i'm excited that i'm in there stuck in the midst of masterly troops off just building lot of troops off just building lots of factories or in recession russia. so i think that it took them and they could get closer and closer to russia as the

united states. should get closer and closer to russia as the united states drifts its father in france for a further whether they are way way out of town terms lots of. you know 5 g. is just one example there are lots of others where. she is just one example there are lots of others were. both the united states and the europeans of us both the ne united states and the scenic and so clear lost the edge nuclear energy is is one of them for instance americans no longer know how to energy is is one of them for instance americans no longer know how to enrich uranium they rely. on russia to enrich uranium they rely. on russia to do that for them and

france to some it gets to that end but the. brands trust him as to stand if. russia is by far the foggiest along in in that in that program they also have missed the law and in that in that program they also have failed. to come up basically to create and say to still come. to them to kill their nuclear reactor actors. and with an event with other budget budget all the things that their projects. latest data sets better than set. just as it says they notice it says 100 nuclear reactor what one has a 100 davis in korea but after a lot of electricity a lot of a lot of the other look is interest all 80 and these are all aging out they're going to be shut down but. if you notice the state that it's that doesn't that they

don't know how to replace the united states doesn't know how to how to build great speakers great any more characters. than a decade one and a lot of people who knew all the people could a new build one are either retired or layered who are under either rick or pressure to have these sort of crazy not to have bases so the united states has stands no chance in terms of exploiting a chance no chance in terms of exploiting the arctic alongside russia which you know we are as a market 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 a lot of opportunities that. the americans will be able to make use of them not only is this american bigotry toward russia as the source of.

bigotry toward russia kind of circa soviet union time you at the map took us for sign options to have rough edges but fight the nansen medal product our perception of russia's financial prowess and manufacturing abilities etc are as also completely and medan a fait extra thing abilities etc are as also completely out of date i don't think people understand that russia's economy has been thriving i don't think people understand that for us of the economy has been thriving in our. alongside you know a lot funk. and. some does and this is the tragic tragedy of evolved of this is that there just just a lack of in front of him and friction in the many issue out in the city if i want to ask has enabled if i why does i'm stable this is i'm i looks like i'm watching russia soviet t.v. from the one i'm fit and these are split and psycho i don't watch ng russia soviet

t.v. from the 1950 s. there's been no updating to anyone anyone files funnell now there are already scenary c n n b d city a baby's s a n b a c a a baby say look they are living completely in the past i think politically in the i want to pack last minute to talk a little bit about i want to kind of talk a little bit about these waves of economic protests have been happening across the world from chile france spain iraq these waves of economic protests been happening across the world from chile france spain iraq lebanon haiti mostly to do with austerity high prices economic mac lebannon haiti mostly to do with austerity high prices economic mismanagement is there a bigger story going on here oh yes there's the host management is there a bigger story going on here oh yes there's the whole industry in fomenting use revolt in various countries the road the world industry in fomenting use revolt in

various countries around the world it works through various western n.g.o.s. social media it works through various western n.g.o.s. social media companies or involves. a lot of other garc sir are throwing good companies or involves. a lot of other garc sir are throwing money at it this is a way of flighting economic back saw dani at it this is a way of flighting economic backfires in order to trade. any extra cash towards the financial centers and lawyers in order to drain any extra cash towards the financial centers in london that washington. so basically. if for if for for a boy let the country tracy and steal its gold and they take it that that led to the elizabeth as it's at that time that russian are. still only they still

currently a craig's gold gold cetera. just to pick basically proper up up that this was western west and church and well a couple an economy scheme for a little further for a little longer now they can't even afford to just do a body skiing for a little further 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 it i mean campaign so instead they sacrifice a young people off one country after another you know thinking that you know this is the meat generation not the milk generation because now they're you know thinking 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 financially there's 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 why don't we just go ahead and sacrifice them and you know this is just a way of causing capital flight. knocking various economy a way of causing capital flight. knocking various economies out so that they can't compete for increases out so that they can't compete for increasingly scarce financial resources. you know this is this is only scarce financial 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 a very nasty thing that's going on it has very little to do with with corruption as i like to say that if the united states needed some state most its a system could have stopped cuts and been a war broker because not every american were corrupt child cry because their corruption corruption has been legalised it's called lobby all other countries in the world are less corrupt than the inaction has been legalised it's called lobby

all other countries in the world are less corrupt than the united states so western inspire. corruption drug if you're still in there are never so western inspired anti corruption drugs here and there and everywhere you know effect that's just propaganda that's just a rabble rousing kind of where you know effect that's just propaganda that's just a rabble rousing kind of approach when you say the us is the most corrupt nation you know i'd love to approach it well when you say the us is the most corrupt nation you know i'd love to be able to argue that's not the case but then i remember jamie dimon over there j.p. morgan to be able to argue that's not the case but then i remember jamie dimon over there j.p. morgan being prosecuted and investigated for racketeering and massive multi $100000000000.00 being prosecuted and investigated for racketeering and massive multi $100000000000.00 of fraud it's hard to argue what you're saying you know you

mentioned dollars and fraud it's hard to argue what you're saying you know you mention that the financial centers london and new york are the centers that the financial centers london and new york are the centers of this global corruption and i think about russia russia doesn't love this global corruption and i think about russia russia doesn't have the continent of the financial center it is got got it's kind of like that divorcing its south of from the financial front alone the finalization financial and all of those asia globe silicon cop and to me a bit of the global economy by a by by her eyes and 100 tons of cynical 100 at the you know hundreds of their gold alling you know is our drug they're going going to come is russia going to come out with a gold backed currency i realize this is a bit of speculation but it's a matter of the gold backed currency i realize this is

a bit of speculation but it seems like russia maybe russia and china are going to come out with a gold back or partially. gold backed currency maybe russia and china are going to come out with a gold back or partially gold backed currency or china has been speculated well now they've got $20000.00 tons of gold which is more than anyone or china has been speculated well now they've got $20000.00 tons of gold which is more than anyone understand that they have or might have is that is that going to be one understand that they have or might have is that is that going to be we you know you wrote the collapse gap and is that the pin up you know you wrote the collapse gap and is that the pin on the hand grenade that's going to be pulled that's going to put the dollar into on the hand grenade that's going to be 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 fatal tailspin the death dive is that somebody is going to announce

a gold backed currency dimitri i think the strategy both for russia or china is to let the americans a currency dimitri i think the strategy both for russia or china is to let the americans do it oh to themselves but i'm still let's. go to themselves by themselves. i won't be anyone but themselves to blame. they matter there won't be anyone but themselves to blame. they americans are following along with this program really well with a program of south sanctions are concerned following along with this program really well with a program of south sanctions limiting people's access to dollar transactions threatening to cut people off from the smiting people's access to dollar transactions threatening to cut people off from the swift network. or friends best inner space based sites that are there repent and chase in which to place their

products through the branch on which they're purchased they're doing that themselves nobody has to help them now what russia and china will do is continue to do trade between the 2 countries and when they're doing that themselves 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. for imperius other trade consortia based on their countries. for him to areas other trade consortia based on local currencies their east currency swaps will be backed by gold get local currencies their east currency swaps will be backed by gold get gold guarantees if you will just to stabilize things to make sure that it's gold guarantees if you will 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 just

a part 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 interested in major financial destructions which will occur but they will be produced by the united states acting alone a money for a while and i know that it will be produced by the united states acting alone a money for a while and i know that you have a background in engineering you know what you think about this boeing 737 the background in engineering you know what you think about this. knowing 737 scandal the other plane they are outsourcing software to minimum wage workers scandal the other plane they are outsourcing software to minimum wage workers in and out in while be the exact it is replying to the exact billing lichens of sieves or stockpot of them st paul's and ag making 1000000000 tellings of stock for themselves and making a killing in and you know now that it's a man for the country up in a mill they are studying to take a look at that were it up to what he's a mini did you take

a look at that what it what do you think it's really miserable how the engineering is sure it's really maybe not as noble it's the end to an interesting boettcher and the united states has decayed. and that's it's really a question it's true as a child starts to true business a study and a question of who is in charge the businessmen the financier's or the engineers and the whole mindset in the united states on an sears or the engineers and the whole mindset in the united states is you basically say if you're to fire this budget to query hunters i either just need to do education to kill or near jobbers as needed to do a particular job if you find an engineer who is cheaper it isn't defined yet an invention or a new interest. in india today and you have your house and he even you know other engineers other aliens at that years will tell you all that the well the level of. it's just the same as saying. it doesn't matter that it's all about money

none of it not one of us just has to do it we can't there mr acoustic. is a physical systems of all systems at all. and basically it took basically it's a prescription for description. because money because money money men do not understand johnny damon extension needed to know on an order to a fair standard and engineering to the extent needed in order to effectively manage it now with the chinese and the russians to this day promote engineers to clean manage it now what the chinese and the russians do is they promote engineers to point responsibility executives responsibility they don't just how far responsibility executives responsibility they don't just hire money to do that. kind of up and. you know out of their milk and meat you know there's.

this next generation silk and this krugman is no one talks to jennifer that was paul krugman would suggest that we only all the dead to ourselves he says are just be milking the the youth until they can only all the dead to ourselves he seems to just be milking the the youth until they can no longer be belts looked and and they're and they're me in their terms and the case is of the last on the state didn't decide at the at us as all 4 of the student debt has stood for dinner since down to go the student is that a lot of before though their meat. for this is their meal as military consequence grab scraps to go for 5 ip people that are there even even i don't know who they were there for fighting it it's just this day generic war that they go out and try to pay back their student debt and it's certainly a see that war that they 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 negative into that happening let me you know as again another engineering question and negative interest rates you know last time we talked there's no such thing existed and. i've never been to contemplate straits you know last time we talked there's no such thing existed and it had never been contemplated in the history of the world world this is an engineer. what was something going on the financial engineers here negative interest rates isn't crazy when you think about that something going on the financial 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 head with negative interest rates will become these financial and to poach that hop around on their heads you know that we're paid to borrow we are fight for say that you know we're paid to borrow we are fight for saving.

it's inst say it ain't it and sent it it will and it will go on for any length of time because basically the incentives for participle on for any length of time because basically the incentives for participating in any kind of a banking scheme evaporate so the only faint payday in any kind of a banking scheme evaporate so the only thing you have left it is this kind of force it's likely. there isn't a real kick out class you have asked to have to use your credit card for every saying. oh your body has to be within the site yes your credit card for every saying. oh your body has to be within the site actual institution which will slowly confiscated over time. an actual institution which will slowly confiscated over

time. who is going to go along with that scheme you know who for any length of time but who is going to go along 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. whether that's our sort of no consequence so it's just a question of time there's a lot of social and airship people you know because they're losing a little bit of money at the because i'm right there now. a little bit of money at a time right now. you know they don't go put put up with a trip the time being but you know you know they don't go put they'll put up with the truth the time being but you know i did some like straight project projections in terms of over lower interest i did some like straight project projections in terms of over lower interest rates. if you just like plotted out it turns out you know it's rates. if you 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 guest looks like we're going to have to have ever more negative interest rates that's what a lot of guests of ours of the workers out again like up and we've got i got up to quest question a quick question a little on what how little they can get mean it's a great girl i mean to grow a beard like that 3 years thank you add to major from a being a lawyer to look like up as are or 3 thank you add to major for being on the kaiser report thank you thank you. i wanted to let you it is going to differ this is a good position for this in of the kind it has or should republic or it has with me report next week max kaiser in state our mistakes here i want to thank i want to get a test on me to get your list of me off i'll join a collage officer on twitter just sizer up on twitter and i saw the report until next time by. next time by.

practice. this was supposed last it's not about what was causing etc that will to live longer some of these it's inconsistent. moods what your old will going to be especially. knowing. your lawyer didn't. seem to do yet swimming with you 3 times now and i'll show proposals to. look at with that i'll show showing at the club where it went which makes up a script scully's only since news last week when i went to church it. did he think it will ship. you have the same sort of. boat or ship and you have

your fishing 30. boat up shipping. of a ship. yep and most of those you know the book is the one you'll have the most of the book it will work for the person able to safely able. to say no i don't know who splitting up the idea don't know what that will or. if it was the latest news in the pub us. stuff no worries i'm all right they assume reason the put us. stuff no worries i'm all right so yeah i've put this was going to say. lyricist so yeah i've put this list of those. lyrics are students are in the store oh yeah the soulful. students are in the store oh yeah the soulful.

dream agreed to pretty much. during the great depression which i'm old enough to remember there was older members through the roof was ash and my worst my fam. a split working class there wasn't a bed it wasn't just it was because of it but there were subjectively today but there was an x. next patient take the thing they should mention better things to do going to bed but better the the repeal. of the was a real sense of hopefulness there isn't today the sense of the hopeful isn't scary because there is a shape to mounted by those america was shaped by the turn principle principle of capone singles race of welcomes and and power trade a wealth and power. grid to do modest amounts crecy.

at tax time to load excess oil or addict it into an engineer shrilled black. man you. can see and approach and spend and expose according to according to know of. one set of rules rules for the rich. opposite set of rules from some that are sure. to it's quite a bit of money to that's what would happen or when you put her into the hands of a narrow sector of will which were into the hands of a narrow sector of will which will is dedicated to increasing power for itself just as you'd expect one of the most of all is dedicated to increasing power for just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization influential intellectuals of our time speaks about the modern

civilization of america. they should mention of america. i'm going to. i'm going to fulfill the repeated purposes of politics to the people and thomas is the usual feel the repeated promises apologies to the people and promise to be you know we've all bots. no weaves or buts. basically you are a. pretty great he. looks.

pretty good bertha. now you would have never heard. that i know your boy when i 1st read that. no. no. no. a ball or ball ball. be cut.

cut cut. cut. cut cut cut. cut cut. we just because. we have this little skeets we sure as the little. business which was a surprise for me i wars on the console all of the above that for well because these are media people become discount there joe klein so no need to trouble myself about it by wars on the console of their own but that's for well because these are media people become different they're go climb so no need to trouble myself about it out so i wasn't ready for this magnitude all things so i wasn't in the flow of that it what magnitude of things happening that when they began to plan it big

wasn't tempests much pride about the city to spot what it is that data suits me is probably one that society as it is was ready as way to be who we could see. what if what if he feels that he has come to your apartment and on to your jobs. and jobs. with thinks now am a few brick exception in the back with him thinks now if a lection on the way and the brick brags that extension in the bank the u.k. parliament finally talks starts talking about how do you compare the prime minister harper elements finally talk starts talking about other things but the prime minister and leader of the opposition clashing going over everything from euro

rubbish i was the. last us nationals on the over everything for russia. to us design the enemy and they. were. you know all the. to become the us democrats to become 20. 2021 to get a point. with these men getting tighter with many voters 60 votes now decided on who stood on the. on there's such a big push. there's such a big push to just change it to stop them from getting out of all. of those all there's a lot of them with the death of a craft and there's a lot of confusion with the democrats and they're not really thank you 9 together to make one strong candidate. thank you 19 together to make one strong candidate.