that you queen that phrase giago back in 2009 in 2010 dirtier than that you queen that phrase giago back in 2009 in 2010 during the many op risings and protests around the world we started to see so i just wanted to follow bring them many op risings and protests around the world we started to see so i just wanted to follow up on our interview with dmitri orloff because i think that in fact a lot of these on our interview with dmitri orloff because i think that in fact a lot of these protests are indeed genuine of course other nations and sort protests are indeed genuine of course other nations and sort of players and geo political players and great powers and stuff trying to intervene but in fact of players and geo political players and great powers and stuff trying to intervene but in fact if you saw it like over a 1000000 protesters demand chill a president that if you saw it like over a 1000000 protesters demand chill a president resignation he's

a billionaire he's an austerity and people don't resignation he's a billionaire he's an austerity and people have had enough. we've had protests in lebanon we've had had enough. we've had protests in lebanon we've had protests in haiti we've had protests in egypt and spain so tess in haiti we've had protests in egypt and spain so a lot of them are about this global insurrection and get all the reaction rationally divs banker occupation a lot of them are about this global insurrection and get all the acceleration it gives banker occupation that's what we call it we said and you know they got over there it's so that's what we call it we said and you know they got over there it's so what i call i came up with i mean metaphor it's the stone blower you know that with a style blower of a car came up with a new metaphor it's the stone blower you know that was a style blower. you know

a push down the sidewalk or the road there and it blows all the snow in a push it down the sidewalk or the road there and it blows all the snow off to the side. a sickly and it leaves a flat off to the side. a sickly and it leaves a flat non snowed surface so these central bank policies they blow all the non snowed surface so these central bank policies they blow all the money into the pockets of the top 110th of one percent and they leave money into the pockets of the top 110th of one percent and they leave everybody else without anything right and they have everybody else without anything right and they do this with financial engineering and policy initiatives do this with financial engineering and policy initiatives so it's not an accident it's not these huge walls that income

gaps don't happen it's not an accident it's not these huge walls of income gaps don't happen because of some odd accident by design and because of some odd accident by design and you know we shown on this show for 10 years like ok we said jamie dimon was in the you know we shown on this show for 10 years like ok we said jamie dimon was engaged in racketeering to to fix prices in the gold market to manipulate prices engage in racketeering to to fix prices in the gold market to manipulate prices and to ingratiate into you know in it and to ingratiate into you know in a lot of people and then it's finally they he's now being in poverty a lot of people and then it's finally they he's now being. investigated and

prosecuted under racketeering right those are individual investigated and prosecuted under racketeering right those are individual crimes and those are with bad intent the central banks and the treasury crimes and those are with bad intent the central banks and the treasuries and the fact that the treasuries and the governments have abdicated their role in the cause and the fact that the treasuries and the governments have abdicated their role in the economy to the central banks who they believe are experts living in ivory towers those people to me to the central banks who they believe are experts living in ivory towers those people might think they're well intentioned but what they have created is a globally prick might think they're well intentioned but what they have created is a globally precarious situation i the vast majority of people are precarious and they actually have to work for an area situation i the vast majority of people are precarious and they actually have to work for another ok so over there at the bank

of england on the market it was shown that he was so over the bank of england on the market it was shown that he as an individual was engaged in libel or rigging yes and as in any as an individual was engaged in libel or rigging yes and as an individual he runs the central bank so there's a few main central banks run by individual he runs the central bank so there's a few main central banks run by individuals and they're committing fraud crime starts at the top as would say intervention and they're committing fraud crime starts at the top as would say it trickles down that's the trickle that the system itself is rigged and closed down that's the trickle that the system itself is rigged and therefore anybody who has a job within that system or functions in that system will therefore anybody who has a job within that system or functions in that system. will become corrupted by that

fundamental layer that is the corrupt model become corrupted by that fundamental layer that is the corrupt monetary system and here for example in chile and why people are protesting here why terry system and here for example in chile and why people are protesting here why i believe they are genuine protests and sure outside actors may intervene as i believe they are genuine protests and sure outside actors may intervene at some point or perhaps they are whatever but one and a half 1000000 people showed up in the streets in point or perhaps they are whatever but one and a half 1000000 people showed up in the streets branko milanovic who is one of the experts if not the foremost expert in the world rocco milan of it who is one of the experts if not the foremost expert in the world on inequality and he has studied this for the past few decades he tweeted in the knowledge on inequality and he has studied this for the past few decades he tweeted in the new 20132014 global income

distribution data just completed the beauty 10132014 global income distribution data just completed the bottom 5 percent in chile or at the same income level as the bottom 5 percent in modern 5 percent in chile or at the same income level as the bottom 5 percent among gold and moldova so we all recognize that moldova and ungoliant and moldova so we all recognize that moldova and mongolia are developing nations their poor nations and the bottom in mongolia are developing nations their poor nations and the bottom 5 percent in chile are equal to those meanwhile the top 2 percent and she live percent in chile are equal to those meanwhile the top 2 percent in chile and this is probably under estimated he says have the same income as the play and this is probably under estimated he says have the same income as the 2. top 2 percent in germany germany is an industrial

powerhouse with a massive eckhardt 2 percent in germany germany is an industrial powerhouse with a massive export market huge wealth creation on the top 2 percent until a export market huge wealth creation and the top 2 percent until they are equal to the top 2 percent in germany right now if seen those t. shirts are equal to the top 2 percent in germany right what you've seen those t. shirts are bumper stickers or whatever the say the beatings will continue until morale improves bumper stickers or whatever the say the beatings will continue until morale improves right it's ironic right because we're else not going to improve if you keep beating on people and if it's right it's ironic right because we're else not going to improve if you keep beating on people here now here they can chill a the policy is to bankrupt the country to eviscerate now here they can chill a policy is to bankrupt the country to eviscerate the middle class and to reward

the kleptocracy that's the policy and the rate the middle class and to reward the kleptocracy that's the policy and those of the when when this kleptocracy notices that is the when when this kleptocracy notices that there's a 1000000 people on the street that have been impoverished to their policies their responses to it there's a 1000000 people on the street that have been impoverished to their policies their response is to double down right as well as like that in one country double down right as well as like that in one country they use this phrase price tag if you point out how they are engaged in mastery they use this phrase price tag if you point out how they are engaged in massive corruption they double down so here in chile a and in other countries if you point of corruption they double down so here in chile a and in other countries if you. point out to them hey you're engaged in massive

corruption they double down and they just make even more empowered to them hey you're engaged in massive corruption they double down and they just make even more impoverished and there's no pushback there's no law against it in a manner that the united states offers and there's no pushback there's no law against it in the united states they've got rid of all the regulations right so there's no way to stop it and in the bank of england of england of course they've got rid of all the regulations right so there's no way to stop it and in the bank of england of england of course it's sort of the purest case of a kleptocracy and so it's now that spend with spirits or the purest case of a kleptocracy and so it's now that spend spread to the core business model of also untrue there are conspiracies going on all over spread to the core business model of also entropy there are conspiracies going on all over the place and as we pointed out the conspiracies to rig precious metals markets we preserve the place and as we pointed out the conspiracies to rig precious metals markets we presented

it here in christ report back in 2011 people said it was a conspiracy theory and indeed and today here in christ report back in 2011 people said it was a conspiracy theory and indeed it was a theory of our is that it was being rigged and there was racketeering going on it is now a conspiracy was a theory of our is that it was being rigged and there was racketeering going on it is now a conspiracy indeed in fact as the department of justice is charging them there is a conspiracy indeed in fact as the department of justice is charging them there is a conspiracy going on in the repo markets we know for a fact pearcey going on in the repo markets we know for a fact that central banks well the new york fed in particular is conspiring to that central banks while the new york fed in particular is conspiring to rig something we don't know what is going on because it is a black hole we don't and a black bar exam thing we don't know what is going on because it is a black hole we don't and a black. bob jones we don't know don't know. which banker or which which shattered

shell battle banking member who. is in jail all and we have this and we have lined this have to line. here and there i can fax fact from fred and he says read hickey and he says this mass of daily fed interventions in big business appears to be getting getting worse and worse what is the fed hiding the longer this goes on and the bigger the interventions worse what is the fed hiding the longer this goes on and the bigger the interventions get the more my confidence is shaken i expect that's true for other investors to get the more my confidence is shaken i expect that's true for other investors too and he was responding to a tweet from brad houston about the fed temporary repose and he was responding to a tweet from brad houston about the fed temporary repos on september 17th they said

we're doing repose today and tomorrow on september 19th on september 17th they said we're doing repose today and tomorrow on september 19th they said we're extending repos until october 10th 75000000000 overnight 30000000000 they said we're extending repos until october 10th 75000000000 overnight 30000000000 term and then on october 4th we're extending repos into levon 141011 we're going in term and then on october 4th we're extending repos into levon 141011 or extend repos until january 20201023 we're expanding overnight repo offering to 120 percent of repose until january 20201023 we're expanding overnight repo offering to $120000000000.00 a $45000000000.00 term there's a run on the bank for the 1000000000 or $45000000000.00 term there's a run on the bank for the highest liquid shortest term base money paper and highest liquid shortest term base money paper and.

there is not sufficient quantities to keep the system and there is not sufficient quantities to keep the system afloat and some major bank could be j.p. morgan that's my guess is some afloat and some major bank could be j.p. morgan that's my guess is to announce bankruptcy or insolvency aren't deutsche bank soon to announce bankruptcy or insolvency aren't deutsche bank. and this is of course look at the numbers i bounce on stunting and this is of course look at the numbers i bounce on stunting 2021 have we seen such a collapse and based money in fact we're going to go to a headline here at 2021 and we've seen such a collapse and based money in fact we're going to go to a headline here and talks exactly about that and that shows the data that the base money supply talks exactly about that and that shows the data that the base money supply is declining at the same rate of $12021.00 gold credit and the cry is

declining at the same rate of $12021.00 gold credit and the coming financial collapse since 2016 the us monetary base has declined by coming financial collapse since 2016 the us monetary base has declined by about 23.68 percent this is the deepest and longest the kleine about 23.68 percent this is the deepest and longest the kleine since the federal reserve was formed on december 23rd 1913 this should not be since the federal reserve was formed on december 23rd 1913 this should not be ignored the last time there was a decline close to this magnitude there was a sharp divide ignored the last time there was a decline close to this magnitude there was a sharp deflationary recession that was the one that occurred from 1920 to 21 recession that was the one that occurred from 1920 to 21 here's today you can see

the decline in the monetary base and back there in one hears today you could see the decline in the monetary base and back there in 1921 and just for you know definition purposes that were 22021 and just for you know definition purposes that were on the same page he just finds the monetary base as the foundation par on the same page he just finds the monetary base as the foundation. part of the money supply and represents the most liquid part of that basics of the money supply and represents the most liquid part of it it basically acts like gold and a 100 percent funded gold standard a cli acts like gold and a 100 percent funded gold standard it represents the final settlement of a transaction it represents the final settlement of a transaction right that's the key is the settlement layer as it's called with the

most like what that's the key is the settlement layer as it's called with the most liquid highest grade paper government paper if these banks like j.p. morgan or deutsche bank at highest grade paper government paper if these banks like j.p. morgan or deutsche bank are unable to settle trades because they don't have the cash to settle the trade and are unable to settle trades because they don't have the cash to settle the trade then when the end of the quarter comes they're going to have to by law if they if they're then when the end of the quarter comes they're going to have to by law if they if there is the rule of law anymore and that's an open question announce that they are insolvent and there is the rule of law anymore and that's an open question announce that they are insolvent and therefore they're going to set off a cascade and a contagion. will be a contin therefore they're going to set off a cascade and a contagion. will be a continuation of the 2008 crisis but much much worse because in the 2000

a crisis situation of the 2008 crisis but much much worse because in the 2008 crisis the response by central banks was to inject 16 or 17 trillion of us the response by central banks was to inject 16 or 17 trillion of money into the system and the hope was that this would create growth money into the system and the hope was that this would create growth. g.d.p. growth and taxable revenue to pay down some debt but instead the bank d.p. growth in taxable revenue to pay down some debt but instead the banks simply took that money and hoarded it on their own balance sheets and they simply took that money and hoarded it on their own balance sheets and they in turn did not lend it out into the economy they did not create any meaningful g. turn did not lend it out into the economy they did not create any meaningful g.d.p. growth and in fact over leverage the economy 10 times greater than n.d.p.

growth and in fact over leverage the economy 10 times greater than it had been in 2008 so now the debt bomb it had been in 2008 so now the debt bomb is exploding and the fed is desperately trying to cover it is exploding and the fed is desperately trying to cover it in the repo market which is like trying to put that fire in california with a scorching the repos market which is like trying to put that fire in california with a squirt gun so the final settlement of a transaction that's the gun so the final settlement of a transaction that's that's cash that's gold that's big queen that's cash that's gold that's big queen there's no counterparty risk these

people in the financial markets do not want to swap that no counterparty risk these people in the financial markets do not want to swap that for any instrument with a counter party we're seeing. for any instrument with a counter party we're seeing huge run on the counterparty market nobody wants any any sort of instrument with huge run on the counterparty market nobody wants any any sort of instr. with the counterparty it would seem during the 192221 recession the decline of counterparty it would seem during the 192221 recession the decline in the monetary base eventually made it into the broader money supply in this cause a signal in the monetary base eventually made it into the broader money supply in this cause a significant drop in price levels between 13 and 18 percent during the recession with horrific and drop in price levels between 13 and 18 percent during the recession with wholesale prices dropping as much as 36 percent this is not yet

filtered into the wholesale prices dropping as much as 36 percent this is not yet filtered into the market perhaps it might not but at the moment even though it's down more than it was in $1000.00 market perhaps it might not but at the moment even though it's down more than it was in $192021.00 if the monetary base is the climbing then less means to service debt is available 2021 if the monetary base is the climbing then less means to service debt is available and could trigger mass defaults cash becomes scarce and suddenly you have a situation and could trigger mass defaults cash becomes scarce and suddenly you have a situation where the fed has to intervene and the repo market like it has been over the last couple of weeks and where the fed has to intervene and the repo market like it has been over the last couple of weeks just to keep the system going right back to 2008 when this all started this is why just to keep the system going right back to 2008 when this all started this is why pundits like peter schiff got it

wrong because he was calling for inflation yes and people pundits like peter schiff got it wrong because he was calling for inflation yes and people like rick ackerman who are on our show were saying no this is deflation now we're like rick ackerman who are on our show or saying no this is deflation and now we see that it is a massive deflation deflationary depression where prices collapse see that it is a massive deflation deflationary depression where prices coal. aps and this is what we're facing now that's what they're suggesting of course and this is what we're facing now that's what they're suggesting of course this is the jump up you see a massive probably the highest percentage increase this is the jump up you see a massive probably the highest percentage increase in monetary base in the entire chart since the beginning of the fed that did happen in 2002 and monetary base in the entire chart since the beginning of the fed that did happen in 200-2009 perhaps

they they saw a different outcome that didn't well there was a belgian line perhaps they they saw a different outcome that didn't well there was a bailout and it wasn't put into the economy they bailed out the creditors but thanks to barack and it wasn't put into the economy they bailed out the creditors thanks to barack obama who made that $180.00 degree wrong strategic the choice and set the country and obama who made that $180.00 degree wrong strategic the choice and set the country in a course of epic failure thanks obama and you see by the way that i got a course of epic failure thanks obama and you see by the way that i got rid of that spider that was climbing down here i think it was left over from. the river that's fire that was climbing down here i think it was left over from. the n.c. bitsy spider marks more of that coming your way. march more of that coming your way. after the break don't go away.

after the break don't go away.

it's rational. rational. designer. designer a lot of need a thief. need a thief. zoom . zoom.

in more than it. actually. takes. more than a financial. if . yeah we all take the language that we

speak for granted it's like the air that we breathe we don't notice it and the fact that we all take the language that we speak for granted it's like the air that we breathe we don't notice it and the fact most of us believe that we simply perceive reality the way that it is in fact we know it or at most of us believe that we simply perceive reality the way that it is in fact we know through many years of psychological experiments that that's very far from the truth we don't see things from many years of psychological experiments that's very far from the truth we don't see things just the way that they are instead the world that we are their internal world we live in just the way that they are instead the world that we take the internal world we live in is highly constructed by the structures of our brains but also by the structures of press highly constructed by the structures of our brains but also by the structures around languages and cultures that tell us how to put things together. and languages and cultures that tell us how to put things together.

welcome back to the kaiser report on nice guys or. welcome back to the kaiser report on nice guys or well we are fortunate indeed to have in the studio with us

in well we are fortunate indeed to have in the studio with us in person david morgan of the morgan report david welcome back person david morgan of the morgan report david welcome back starts being so i am paid to start what i got that's a dollar starts for being so i am paid to start what i got that's a dollar most people don't even though a dollar is a weight it is a way of silver theater most people even though a dollar is a weight it is a weight of silver 370 $1.00 greens of the in the in front of silver which is about 3 quarters $71.00 greens of the in the in front of silver which is about 3 quarters of a troy so the treasury can even get it right when we've been the new dog of a troyer so the treasury can't even get it right when we've been the new dollars that's a dollar on them says $1.00 it's a 4 ounce which is actually about

a $20.00 that's a dollar on them says $1.00 it's a 4 ounce which is actually about a 25 percent gain silver so that even though it's a wait but let's look at 5 percent again silver so that even though it's a wait but let's let's get it so thank you so much and cherish this now let us proceed and get it thank you so much and cherish this now let us proceed as where you want to do i need to pick your brain you know you as where you want to do i need to pick your brain you know you've been in this business on time we've been doing shows together for a long time 1st or so all of that in this business on. time we've been doing shows together for a long time worst the worst of all the remember when gold was $2000.00 an ounce. the feds republican member in gold us $2000.00 an ounce. the feds repos operations are rapidly increasing in size and scale should we operations are

rapidly increasing in size and scale should we be alarmed at what's going on we don't know exactly or be alarmed at what's going on we don't know exactly or are those actually but it's obvious there are some insolvency there's banks going to liquid the need to buy those actually but it's obvious there are some insolvency there's banks going to liquid the need to borrow and no one wants to go to the discount window of the fed for the borrowed money of last morrow and no one wants to go to the discount window the fed for the borrowed money of last resort means something is drastically wrong so let's unpack on a bit because now there are so it sort of means something is drastically wrong so let's unpack on a bit because now our son is saying there's an insolvent thing somewhere in the system and so why would they saying there's an insolvent thing somewhere in the system and so why would and they don't want to go to the discount window when so

explain more about we saw what this is all mean you know banks don't want to go to the discount window but some of the explained more about we saw what this is all mean yeah banks so there's an overnight lending rate and that's based on bank to so there's an overnight lending rate and that's based on bank to bank so every bank is required to have a certain reserve of cash on hand bag so every bank is required to have a certain reserve of cash on hand that they don't meet that required but they have to borrow overnight to meet this the law that they don't meet that required but they have to borrow overnight to meet this the law that's a regulation that's a sense that a certain reserves based on how much you've lent out the that's something that's a regulation that. i have certain reserves based on how much you've lent out and have some sort of bank on the reserves to maintain your ratio per cent bank on the reserves to maintain your ratio per law correct right seller got it so

to meet that require a law correct right seller got it so to meet that requirement if you're short you go to another bank that might have an excess and they can loan you them and if you're short you go to another bank that might have an excess and they can loan you that money overnight and you pay a small interest for that loan and then the next day that money overnight and you pay a small interest for that loan and then the next day the books are squared life goes or. however if you can do the books or square and life goes or however if you can't find a bank that will loan you the money you can go to the fed find a bank that will loan you the money you can go to the fed and say at the bar of last resort hey i need to borrow to meet my reserve requirements at the bar of last resort hey i need to borrow to meet my reserve requirement loan me the money

overnight well that's kind of telling loan me the money overnight well that's kind of telling. the system the banking system at large that. the system the banking system at large that i don't break will loan to me because i don't trust the bank that needs the money i have to go the fed was wont to me because i don't trust the bank that needs the money i have to go to the federal reserve to borrow it so it puts some caution in the system be served to borrow it so it puts some caution in the system because people can always preparing people for a system of the big surprises to market $100.00 on it and that is they. get . rejected by every other better bank to barbara are oh i have to go to go the 5th fed so that's sort of sort of the walk walk of shame to go that asked the fed to borrow money when another bank or other bank of shame to go

that asked the fed to borrow money when another bank or other banks won't do well and this is happening again and again and again as you will. loan to well and this is happening again and again and again as you will memory day that we get the same message that we need to reply to extend and now your family day that we get the same message that we need to reply to extend and now your feeling is that this pertains to one institution in particular the feeling is that this pertains to one institution in particular that is not being named that is having trouble. staying out of that is not being named at that is having trouble. staying out of insolvency could be but it's immaterial in a way because all these banks are in strict 1000000000 salva say could be but it's immaterial in a way because all these banks are in strip completely interconnected which means if

it is just one and it goes fall interconnected which means if it is just one and it goes falls. then it hits too that it for the 16th they're all interconnected since then it hits to that it for the 16th they're all interconnected so it could take a door should be going down or like lehman where you see so it could take a door should be going down or like lehman where you see this interconnected this of these banking system large start this interconnected this of these banking system large start to fail one goes down a bit of one who probably took everything with it it wouldn't go back to the thirty's or critics to fail one goes down a bit of one who probably took everything with it it wouldn't go back to the thirty's the critics don't but it was a very big bank and we really thought much of it done in austria but that was not all but it was a very big bank and we really thought much of it go down in austria but that was actually the 1st domino effect of the system right and then and lehman brothers of

course in 2000 actually the 1st domino over the over the system right and then and lehman brothers of course in 2008 was kind of the domino theory. 192021 there was also a similar it was kind of the domino theory. and 192021 there was also a similar kind of collapse and i'll talk about base my collapse and i'll talk about base money for a 2nd the base money supply has declined by over 23 percent since 2016th 1st 2nd the base money supply has declined by over 23 percent since 20 sixteenth's this is by far the longest and deepest decline since the fed was created and this is by far the longest and deepest decline since the fed was created in december of 203913 the inflation deflation to december of 203-0913 the inflation deflation debate could be resolved soon and the winner could be deflation ok it could be

resolved soon and the winner could be deflation ok. the base won't deploy. the. 28 percent as it's climbing to. 2016 because the. internet is the big it's the sound that's right to figure that would create a city that's what the fed was that's country and gated what does that mean what does that tell us well it does in the could it could be deflation is going to stir this career and start to tell us well doesn't the could could be deflation is going to start of this career start of the public speaking circuit i was more of a deflation is that inflation or turn of the public speaking circuit i was more of a deflation is that inflation just got turned around some 4 years ago because because jim did a study of all men around some more years ago because because jim did a study of all non backed currencies of everyone in or did excuse me in

a non back currencies of everyone in or and excuse me in inflation but if you go back to earlier in the gold backed currency like we had in the thirty's of the debt look foolish and but if you go back to earlier in the gold backed currency like we had in the thirty's was the debt liquidity in depression which is a depression i don't rule out entirely but could do the in depression which is a depression i don't rule out entirely but i think it's the end game will go that direction well in that the point here is that there i think it's unlikely in the game will go that direction well in that the point here is that they're the base money is the gold in the system today right and so the base money is the gold in the system today right and so using that analogy. if in fact the base money is declining rapidly so using that analogy. if in fact the base money is declining rapidly and you have an institution that's in distress or many institutions that

are in distress me and you have an institution that's in distress or many institutions that are in distress and they can't mean. they're requirements and it's a set up for some defaults and they can't meet their requirements and it's a set up for some defaults you know those built in the system as you see will know that if there's built in the system as you see we'll know that if you can't pay a bond and to default on it interest rates will start shooting up which means the value you can't pay a bond in to default on it interest rates will start shooting up which means the value of the bomb comes down drastically like what happened in $1000.00 maybe when booker was in charge are you of the bomb comes down drastically like what happened in $1000.00 maybe when booker was in charge which is hugely be flayed i mean think about interest rates going to 10 percent no one which is hugely flay sure i mean think about interest rates going to 10 percent no one can beat their debt obligations from the government side and you'd have

a huge deflation their debt obligations from the government and it would have a huge deflation in the value of those bonnes and so i don't again don't rule it out i think it's still in the value of those bonnes and so i don't again don't rule it out i think it's still a debate i think it's still open and i think it's to one of the other side of the inflation deflation will debate i think is still open and i think it's to one of the other side of the inflation deflation cawing is something called hyper inflation right sent otherwise it's not all the sun bad for cawing is something called hyper inflation right send otherwise it's not all the sun bad for gold and silver investors to have deflation if it means you have a currency collapse correct gold and silver investors to have deflation if it means you have a currency collapse correct and so we've seen currency collapsing all over the world gold made new all time highs again and so we're seeing currency collapsing all over the world gold made new all time highs against just about every currency in the world except the u.s.

dollar and we're already seeing currency collapse right now it's just about every currency in the world except the u.s. dollar and we're already seeing currency collapse right now and it is. benefitting gaul and sol are exactly in the further your point if you recall and it is benefiting all it's all or exactly in the further your point if you read the golden constant by professor jester him his whole point is that gold is best to defeat the golden constant professor jester him his whole point is that gold is best and deflation have taken into account that would be most of the study had to do with the gold backed currency lation have taken into account that would most of the study had to do with the gold backed currency in most of the sectors of the study but nonetheless it's a good point to keep in mind in most of the sectors of the study but nonetheless it's a good point to keep in mind an inflationary depression a debt liquid and depression aren't that much different if an inflationary depression than a debt liquid in depression aren't that much different in one you lose faith in the currency altogether you just absolutely don't trust it out of one you lose faith in

the currency altogether you just absolutely don't trust it at all and in a debt liquid in depression currency becomes valuable again and people call and in a debt liquid in depression currency becomes valuable again and people of course trust it so you can restart the system morally in my belief the distrust so you can restart the system morally in my belief the liquid the precious x. more and more of that inflationary pressure right because the bad guys get set liquid the pressure of sex more and more of that inflationary pressure right because the bad guys get spanked for having incurred such hard ball incursion in banks for having incurred such hard ball incursion into zombie companies zombie banks and they're just being kept alive through man to zombie companies zombie banks and they're just being kept alive through machinations of the sad and this

type of thing and they need to be punished exactly need to be destinations a sad and this type of thing and they need to be punished exactly need to be punished. you know for me the idea has always been a number of idealists as you know man pushed a supportive you know good for me the idea has always been the nominee idealist as you know max believe me the right to succeed is also the right to fail and if these guys aren't bad loans with exploding me and the right to succeed is also the right to fail and if these guys write bad loans or do the wrong thing they should be punished i mean the markets should be able to work both ways that's why you do the wrong thing we should be punished i mean the markets should be able to work both ways that's why obama should have bailed out the debtors not the creditors right son who i say also macleod of obama should have bailed out the debtors not the creditors right sun usa also macleod of gold money dot com recently suggested that china could soon announce it has 10000 perhaps 20000 gold money dot com recently suggested that china could soon announce it has 10000 perhaps 20000 tons of gold is this crazy as

a possible what are your thoughts well you know tons of gold is this crazy as a possible what are your thoughts well you know not super close but you know we have our program talks down and then i don't think it's crazy i don't know we're not super close but you know we have our program talks down and then i don't think it's crazy i don't want to go with 20 but 10 i don't think is the question but their answer is no one really knows i can go with 20 but 10 i don't think is the question but their answer is no one really knows ok but the promise here is that they've been secretly accumulating a huge stockpile of gold as kind of the nikkei but the promise here is that they've been secretly accumulating a huge stockpile of gold as kind of the nuclear option against the dollar in the u.s. if if this trade talks of china go badly jocular option against the dollar in the u.s. if if this trade talks of china go badly china can wipe out this nuclear option to say you know what we actually got 1015000 tonne and it can wipe out this nuclear option and say you know what we actually got 101-5000 tons of gold and dollars now finished and we're gone to russia and somebody else is of gold and dollars now

finished and we're gone to russia and somebody else maybe are going to go to. back are saying you know forget it you're toast but one fine point the verde are going to go to a call back are saying you know forget it you're toast but one fine point very few people know about the amount of gold that china is asking the wrong people below about the amount of gold that china is asking the wrong question when they report the amount of gold what has happened is it's asked question when they report the amount of gold what has happened is it's asked specifically how much gold is held in that bank in china and they could give you the answer pacifically how much gold is held in that bank in china and they could give you the answer instead of asking the correct question which is how much gold everywhere in china is help instead of asking the correct question which is how much gold everywhere in china is held under the national name they don't ask that question so the chinese are actually

old under the national name they don't ask that question so the chinese are actually answering a very explicit question very explicit way so no one really knows the answer in a very explicit question in very explicit way so no one really knows the the amounts because they don't record the report everything they're reported what's asked for the biggest the amounts because they don't rex to report everything they reported what's asked for the biggest gold miner in the world. probably and do we ever see a golden gate or the chinese old miner in the world problem and do we ever see a golden gate with a chinese stamp on it or well the museum but to ensure that might allow the export stamp on and there are 2 of them you see to ensure that might allow the export they don't leave so they're right plus they're buying everywhere if they don't leave so they're right plus they're buying everywhere exactly and they buy

official reserve number of zachary and they buy official reserve number their number 2 or 3 things and they could easily be number one or their number 2 or 3 things and they could easily be number one on a stealth stealth basis so china's change. on a stealth stealth basis so china's changed course from a more secretive to now more public about the gold holdings but even so they seems course from a more secretive they're now more public about the gold holdings but even so they seem to be opening their camano to mix asian countries a bit to be opening their camano to mix asian countries a bit to maybe telegraph that this is coming if they continue to pressure us you know maybe telegraph that this is coming if they continue to pressure us you know we're going to start to leak information into the marketplace that you know we

actually have a little bit more than you thought know it we're going to start to leak information into the marketplace that you know we actually have a little bit more than you thought no actually it's quite a bit more like they're playing this cat and mouse game on trade that this trump actually is quite a bit more like they're playing this cat and mouse game on trade that does trump. would dizzy understand that like would he even does he have the intellectual disease understand that like would he even does he have the intellectual chops to understand it like if if somebody came to him and said you know what china could you know an ounce of chops to understand it like if if somebody came to him and said you know what china could you know now they've got 152-0000 ounces i'm sorry tons of gold we know what that means you've got 152-0000 ounces i'm sorry tons of gold what do you know what that means i would have to it would have to explain that i would probably would be or lucent to do so would have to it would have to explain that i would probably would be or lucent to do he would go my view but nonetheless

i think he would need the details to be a good go my view but nonetheless i think he would need the details to make a you know correction decision could be the could be the pearl harbor of a 24 you know correction decision could be the could be the pearl harbor of the 21st century it's possible that there could be a while. so last week per century it's possible that there could be a while. so last week president g. over there in china said that he and we china should employ at the g. over there and china said that he and we china should implement block change technology across the economy again is this part of the disintegration of the u.s. dollar and block change technology across the economy again is this part of the disintegration of the u.s. dollars a weaponized global financial grid so present you she of china as a weapon as global financial grid so president you she of china you know they've been flip flopping back and forth there c'mon say you know actually we like block

chain you know they've been flip flopping back and forth they're come out and say you know actually we like block chain block chain is a threat to korea brad sherman in california the threat to the dollar block chain is a threat to korea brad sherman in california the threat to the dollar. not china saying we like blood. i think part of the whole crypto is not china saying we like blood. yes i think part of the whole crypto thing as in the bitcoin is probably the prime example has to do with the castle society thing as in the bitcoin is probably the prime example has to do with the cast of society i really think that's the big move for the bankers i mean while the people get really mixed i really think that's the big move for the bankers i mean while the people get really mixed up in politics and that's ok with me i let people be themselves but i love to show the slot up in politics and that's ok with me i let people be themselves but i love to show the slide that i put in most of my talks these days and that has to do with the movie

thrive and i that i put in most of my talks these days and that has to do with the movie thrive in that movie it shows your pyramid and the bottom of the pyramid as a political class and they're not movie it shows your pyramid and the bottom of the pyramid is the political class that everyone thinks are the big leaders they seem on t.v. he's got the biggest power all that but above that is when thinks are the big leaders they seem on t.v. he's got the biggest power all that but above that is you're you're huge could go on murs for big corporations and take you but you're you're huge could go on murs for big corporations and take you back to the movie network where i forget the character's name but he says there's no child there's no doubt the movie network where i forget the character's name but he says there's no child there's no us there's no mexico there's only a t. and t. 3 and this is the truth and then above that us there's no mexico there's only a t. and t. 3 and this is the truth and in above that is your commercial banks in above that's your investment yeah. that is your commercial banks and above that your investment

. or ice debris that's right. there are going to pick up in a cell or ice debris that's right. there are going to pick up an aside. if you can stay oh yeah i'm going to leave $24.00 spent on your chair we want we like a segment if you can stay oh yeah i'm going to leave $24.00 spent on your chair we what we were we talked about that in the beginning david but we're not sure spending all right that's going to happen we talked about that in the beginning david but we're not sure spending all right that's going to finance edition of the kaiser if you are with me max kaiser and stacy herbert want to thank our guest david margan on them for this edition of the kaiser if you are with me max kaiser and stacy herbert i want to thank our guests david margan of the morgan report catch us on twitter at kaiser report and i stand by all morgan report catch us on twitter at kaiser report and i stand by all.

cooked additional. cooked additional note of what was it gets up to look at some of these it's just a. list of. the. must. see him do you. see him do you see in him if you. look with a showing of the skull is going to make me. look good for the showing of the where . he think it should be and you know.

he's like i'm sure you know you're pushing 30. some of shipping. you're pushing 30. some of shipping. yup and most of those the book is the work of the person you are still. up in the last 3rd of the book did the work of the person you are still missing yes i do know what the bull. moose you know i do know what the bull. was the latest news in the press. was the latest news in the press. worries and he writes oh yeah i've put this was put arsenic poisoning he writes oh yeah i've put this list but that's a risk to. move. further

a sufficient reason remission yeah all the social good it does is. it doesn't. join me every thursday on the alex simon show and i'll be. joining me every thursday on the alec simon show and i'll be speaking to guest of the world of politics sports business i'm showbusiness we're going to get us from the world of politics sports business i'm show business i'll see you then. i'll see you then. of americans and american men and women when she was dismissive and then she continues to serve in a country really literally free and the decision is no not has shattered lives

lives every bunking to a complete. every bunking to a complete. the day that i was writing it's almost believe me against. good old you know the oldest show the oldest kill kill me kill me and i see so you know which to. any dream did any skin bring into the me me company many in my own time in the gram my own arm and he write me with his birth. if you take into account he went there with me and don't think if you take into account that women don't report because of the extreme retaliation it's probably somewhere near about half a 1000000 women have now because of the extreme retaliation and it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing i have been sexually assaulted in the us military rape is

a very very traumatizing thing to have happen but i've never seen trauma like i've seen women who have happened but i've never seen trauma like i've seen women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the fit our veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished and the offender and almost 10 year career or chose very invested in punished than the offender and almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the register and i gave the sex offender who was not even put to justice or put on the road a story this is simply an issue of our in violence male sexual predators for the large part 3 this is simply an issue of our in violence male sexual predators for the large part of target whoever is there to prey upon whether that's men or women of target whoever is there to prey upon whether that's men or women.

let's. look. at.

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extremists who were held by the americans set free. i mean. when extremists who were held by the americans were set free. i mean. undercover. probe lifts the little crusade against alleged russian trolls an undercover probe lifts the lid on the trouble from deep inside the blogs and cookies by bricks it police say parents is from deep inside the blogs and cookies by bricks it police say parents has published a picture book explaining it to children using animals and fail to decide or story they won't be after voting to the. published a picture book explaining it to children using animals and fail to decide for story they want to be in after voting to leave.