parity for the bottom 99 percent and we've really seen that and the global insurrection if they're ready for the bottom 99 percent and we've really seen that and the global insurrection against banker occupation starting to rise up again we reported that you quote in that phrase banker occupation started to rise up again we reported that you queen that phrase giago back in 2009 in 2010 during the many op risings and probably 2009 in 2010 during the many op risings and protests around the world we started to see so i just wanted to follow up on our interview with dmitri tests 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 protests are indeed orloff because i think that in fact a lot of these protests are indeed genuine of course other nations and sort of players and geo political players genuine of course other nations and sort of players and geo political players and great powers and stuff trying to intervene

but in fact if you saw it lakers and great powers and stuff tried to intervene but in fact if you saw it like over a 1000000 protesters demand chill a president's resignation over a 1000000 protesters demand chill a president's resignation he's a billionaire he's an austerity and people have had enough and is a billionaire he's an austerity and people have had enough. and we've had protests in lebanon we've had protests in haiti we've had protests in chile we've had protests in lebanon we've had protests in haiti we've had protests in egypt and spain so a lot of them are about this globalist in egypt and spain so a lot of them are about this global insurrection and get along but actually national gives back or occupation that's really calling instruction and get longer actually national gives back or occupation that's what we call it. said and you

know they got over there it's what i call i came up with a new metaphor said and you know they got over there it's what i call i came up with a new metaphor it's the stone blower you know that with a stone blower in a push down or it's the stone blower you know that with a stone blower you know a push down the sidewalk or the road there and it blows all the snow off to the side sidewalk or the road there and it blows all the snow off to the side. a sickly and it leaves a flat non snowed surface a sickly and it leaves a flat non snowed surface so these central bank policies they blow all the money into the pockets so these central bank policies they blow all the money into the pockets of the top 110th of one percent and they leave everybody out of the top 110th of one percent and they leave everybody else without anything right

and they do this with us without anything right and they do this with financial engineering and policy initiatives it's not an accident it's financial engineering and policy initiatives so it's not an accident it's not these huge walls that income gaps don't happen because of some not these huge walls that income gaps don't happen because of some odd accident by design and you know we shown on this show odd accident by design and you know we shown on this show for 10 years like ok we said jamie dimon was engaged in racketeering to. for 10 years like ok we said jamie diamond was engaged in racketeering to to fix prices in the gold market to manipulate prices and to fix prices in the gold market to manipulate prices and to ingratiate and to you know in

a lot of people in grey she ate into you know in a lot of people and then it's finally the he's now being investigated and prosecuted and then it's finally the he's now being investigated and prosecuted under racketeering right those are individual crimes and those are with under racketeering right those are individual crimes and those are with bad intent the central banks and the treasuries and the fact that the bad intent the central banks and the treasuries and the fact that the treasuries and the governments have abdicated their role in the economy to the central banks with 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 might think they're well intentioned believe are experts living in ivory towers those people might think they're well intentioned but what they have created is

a globally precarious situation i the end 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 another ok so 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 as an individual was over there at the bank of england on the market it was shown that he as an individual was engaged in libel or rigging yes and as an individual he is the central being gauged in libel or rigging yes and as an individual he runs the central bank so there's a few main central banks run by individuals and they're committing fine. so there's a few main central banks run by individuals and they're committing fraud crime starts at the top as would say and trickles down that's the trod crime starts at the top as would say and trickles down that's the trickle that the system itself is

rigged and therefore anybody who has the system itself is rigged and therefore anybody who has a job within that system or functions in that system will become corrupted powers a job within that system or functions in that system will become corrupted by that fundamental layer that is the corrupt monetary system and here by that fundamental layer that is the corrupt monetary system and here for example in chile and why people are protesting here why i believe they are genuine pro for example in chile and why people are protesting here why i believe they are genuine protests and sure outside actors may intervene at some point or perhaps they are on notice 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 branko milanovic who is 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 on inequality and 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 new 20132014 he has studied this for the past few decades he tweeted in the new 20132014 global income distribution data just completed the bottom 5 percent in chile and global income distribution data just completed the bottom 5 percent in chile or at the same income level as the bottom 5 percent among bollea and moldova are at the same income level as the bottom 5 percent among bollea and moldova so we all recognize that moldova and mongolia are did so we'll. all recognize that moldova and mongolia are developing nations they're poor nations and the bottom 5 percent in chile are equal to the elephant nations they're poor nations and the bottom 5 percent in chile are equal to those meanwhile the top 2 percent in chile and this is probably under meadows

meanwhile the top 2 percent in chile and this is probably under estimated he says have the same income as the top 2 percent in germany estimated he says have the same income as the top 2 percent in germany germany is an industrial powerhouse with a massive export market huge germany is an industrial powerhouse with a massive export market huge wealth creation and the top 2 percent in chile are equal to the top wealth creation and the top 2 percent in chile are equal to the top 2 percent in germany but what you've seen those t. shirts are bumper stickers or whatever the same 2 percent in germany but what you've seen those t. shirts are bumper stickers or whatever the say the beatings will continue until morale improves right as ironic right because the beatings will continue until morale improves right as ironic right because morale is not going to improve if you

keep beating on people and if now here these until a not going to improve if you keep beating on people here now here the until a the policy is to bankrupt the country to eviscerate the middle class and to the policy is to bankrupt the country to eviscerate the middle class and to reward the kleptocracy that's the policy and those of the when we were rewarded the kleptocracy that's the policy and those of the when when this kleptocracy notices that there's a 1000000 people on the street that in this kleptocracy notices that there's a 1000000 people on the street that have been impoverished to their policies their responses to double down right ben. impoverish do their policies their response is to double down right as well as like that in one country they use this phrase price tag as well as like that in $1.00 country they use this phrase price tag if you

point out how they are engaged in massive corruption they double down 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 out to them hey you're engaged so here and chill 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 impoverished and there's no s. of corruption they double down and they just make even more impoverished and there's no pushback there's no law against it in the united states they've got rid of all the regulations right 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 it's sort of the purest 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's been spread to the core case of a kleptocracy and so it's now that's been spread to the core business model of also

entrepreneurs there are conspiracies going on all over the place and as we pointed out business model of also entrepreneurs there are conspiracies going on all over the place and as we pointed out the conspiracies to rig precious metals markets we presented it here in cries report about 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 it was a theory of our is that it was can 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 indeed in fact 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 going. the department of justice is charging them there is a conspiracy going on in the repo markets we know for a fact that central banks going on in the repo markets we know for a fact that central banks well the new york fed in particular is conspiring to rig

something we don't know what as well 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 box we don't know which bank going on because it is a black hole we don't and a black box we don't know which bank or which shadow banking member who is in trouble and we have this headline anchor which shadow banking member who is in trouble and we have this headline tweet here and in fact from fred hickey and he says this massive daily fed tweet here and in fact from fred hickey and he says this massive daily fed intervention business appears to be getting worse and worse what is the fed intervention business appears to be getting worse and worse what is the fed hiding the longer this goes on and the bigger the interventions get the more my confidence is 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 too and he was responding to a tweet from shaken i expect that's true for other investors too and he was responding to a tweet from brad houston about the fed temporary repos on september 7th rather houston about the fed temporary repos on september 17th they said we're doing repose today and tomorrow on september 19th they said we're extending repose and they said we're doing repose today and tomorrow on september 19th they said we're extending repros until october 10th 75000000000 overnight 30000000000 term and then on article october 10th 75000000000 overnight 30000000000 term and then on october 4th we're extending repos into levon 141011 or extend repos until january 2022 before. we're extending repos into levon 141011 works and repose until january 20201023 we're expanding overnight repo offering to 120000000000 a 45000000000 term 1023 we're expanding overnight repo offering to $120000000000.00 a $45000000000.00 term there's a run on the bank for the highest liquid there is

a run on the bank for the highest liquid shortest term base money paper and there is shortest term base money paper and there is not sufficient quantities to keep the system afloat and is not sufficient quantities to keep the system afloat and some major bank could be j.p. morgan that's my guess is to announce some major bank could be j.p. morgan that's my guess is into announce bankruptcy or insolvency or deutsche bank and this is bankruptcy or insolvency or deutsche bank. and this is of course look at the numbers i bounce on stunting 2021 that we've seen so of course look at the numbers i about sunstone team 2021 have we seen such a collapse and based money in fact we're going to go to

a headline here and talks exactly about to collapse and base 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 is declining and that shows the data that base money supply is declining at the same rate of $12021.00 gold credit and the coming financial collapse so at the same rate of $12021.00 gold credit and the coming financial collapse since 2016 the u.s. monetary base has declined by about $23.00 point since 2016 the us monetary base has declined by about 23.68 percent this is the deepest and longest the kleine since the federal reserve was formed 8 percent this is the deepest and longest the klein since the federal reserve was formed on december 23rd 1913 this should not be ignored the last time there was on december 23rd 1913 this should not be ignored the last time there was a decline close to this magnitude there was

a sharp deflationary recession's a decline close to this magnitude there was a sharp deflationary recession that was the one that occurred from 1920 to 21 here's today you could see it 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 1921 and the decline in the monetary base and back there in 1921 and just for you know definition purposes that were on the same page he did for the definition purposes that were on the same page he just finds the monetary base as the foundation part of the money supply is finds the monitor base and has the rep of founders days and should. most. of the money when the supply part of that it basically acts like an old represents the most liquid part of it it basically acts like gold and a 100 percent funded gold standard represents that and

a 100 percent funded gold standard represents the final settlement of a transaction right that that's that's the key is the settlement layer as it's called with the most liquid highest grade paper government paid them and layer as it's called with the most liquid highest grade paper government paper if the bank he's banks looks like a j.p. morgan or do it your banker and they are unable to hold such as adults at all trades because they don't have the cash to settle the trade then when the end of the aids 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 there is the rule of law anymore and that's an open 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 therefore they're going to set off a cascade question announce that they are insolvent and therefore they're going to set off a cascade and a contagion. will be a continuation of the 2008 trade and a contagion. will be a continuation of the 2008 crisis but much much worse because in the 2008 crisis the response by central bank isis but much much worse because in the 2008 crisis the response by central banks was to inject 16 or 17 trillion of money into the system it was to inject 16 or 17 trillion of money into the system and the hope was that this would create growth g.d.p. growth and taxable and the hope was that this would create growth g.d.p. growth and. taxable revenue to pay down some debt but instead the banks simply took that money and the new to pay down some debt but instead the banks simply took that money and hoarded it on their own balance sheets and they in turn did not lend it

out or did 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.d.p. growth and in fact into the economy they did not create any meaningful g.d.p. growth and in fact over leverage the economy 10 times greater than it had been in 2008 over leverage the economy 10 times greater than it had been in 2008 so now the debt bomb is exploding so now the debt bomb is exploding and the fed is desperately trying to cover it in the repo market 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 squirt gun so the final settle which is like trying to put that fire in california with a squirt gun so the final settlement of

a transaction that's that's cash that's gold that's big quote meant. of a nose action that their pet party's. cash dish that's gold that's big queen there's no counterparty risk these people in the financial markets do not just that well for in the financial markets do not want to swap that for any instrument with a counterparty we're seeing a huge run on that any instrument with a counterparty we're seeing huge run on the counterparty market nobody wants any any sort of instrument with a counter party it would seem counter party market nobody wants any any sort of instrument with a counter party. it would seem during the 192221 recession the decline in the monetary base him during the 192221 recession the decline in the monetary base eventually made it into the broader money supply in this cause

a significant drop in price of 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 wholesale prices dropping 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 market perhaps it might 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 192021 if the moniker 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 and could trigger mass defaults such a base as the climbing then less means to service debt is available and could trigger mass defaults cash becomes scarce and suddenly you have a situation where the fed has to intervene 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 just to keep the system going and the repo market like it has been over the last couple of weeks just to keep the system going right so going back to 2008 when this all started this is why pundits like peter schiff got it right so going 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 like rick ackerman who are on are wrong because he was calling for inflation yes and people like rick ackerman who are on our show were saying no this is deflation and now we see that it is a massive deflation show we're saying no this is deflation and now we see that it is a massive deflation deflationary depression where prices collapse and decision deflationary depression where prices collapse and. this is what we're facing now that's what they're suggesting of course this is the jump off 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 and monetary base in the

interrupt 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 200-2009 perhaps prior chart since the beginning of the fed that did happen in 200-2009 perhaps they they saw a different outcome that didn't know there was a bailout and it wasn't put into they they saw a different outcome that didn't work there was a bailout and it wasn't put into the economy they bailed out the creditors thanks to barack obama who made the 100 the economy they bailed out the creditors but thanks to barack obama who made that $180.00 degree wrong strategic the choice and set the country in a course of epic a degree wrong strategic the choice and set the country in a course of epic failure thanks obama did you see by the way that i got rid of that fighter that was climbing down failure thanks obama and you see by the way that i got rid of that fighter that was climbing down here i think it was left over from.

the n.c. bitsy spider here i think it was left over from. the n.c. bitsy spider marks more of that coming your way. after the break don't much more of that coming your way. after the break don't go away. go away.

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

. zoom. and more than a. more than a natural. natural.

so what we've got to do is identify the threats that we have. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race move his arms off and spear out its crazy confrontation let it be an arms race move his arms off and spearing dramatic development only personally i'm going to resist i don't seem dramatic developments only personally i'm going to resist i don't see. that it's untrue it will be 6 very very. high time by the time i introduce it to sit sit down and talk.

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

person david morgan of the morgan report david welcome back starts being sort of the morgan report david welcome back start sort of being so i am paid to start when i got there it's a dollar most people even though it. will start when you go out there it's a dollar most people even though a dollar is a weight it is a weight of so over 371.25 dollars a weight is a weight of silver $371.00 greens of the in the in the in front of silver which is about 3 quarters of a troy ounce submarines of 9 in the in front of silver which is about 3 quarters of a troy ounce so the treasury can't even get it right when they've been new dollars that dollar on them so the treasury can't even get it right when they've been the new dollars that's a dollar on them says $1.00 it's a 4 ounce which is actually about a 25 percent gain last as $1.00 it's

a 4 ounce which is actually about a 25 percent gain around silver so that even though it's a wait but let's let's get it so thank you so much silver so that even though it's a wait but let's let's get it so thank you so much and. that is now. at present whatever you want to know where you want to do you. i need to need take to pick your brain your brain you know you know you've been in the been in the space business a long time we've been and we've been doing shows together to get further along for a long time on a time worse and worse the worse the worst of all that all the remember remember when gold and gold was $2000.00 and so now. if the feds repub operations are rapidly increasing in size and scale should we be alarmed at what's going on creasing in size and scale

should we be alarmed at what's going on we don't know exactly or are those actually but it's going on we don't know exactly or are those actually but it's obvious this are some of them and so on so all but somebody that serves the banks and banks really a little liquid but they need to be had to borrow it and no one wants to go to the discount window of the fed for the borrowed money of last resort means something as drastic root of the discount window of the fed for the borrowed money of last resort means something is drastically wrong and some let some time back on a little bit better now the other source. is saying there isn't a solvent and sinking somewhere in the system and so why would and they don't want to go to the discount window went somewhere in the system and so why would and they don't want to go to the discount window when some explain more about we saw what this is all mean you know banks so there's an overnight lend some explain more

about we saw what this is all mean you know banks so there's an overnight lending rate and that's based on bank to bank so every bank is requiring rate and that's based on bank to bank so every bank is required to have a certain reserve of cash on hand that they don't meet that 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's a regulation that's a sense that it 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 in that some certain banks or certain reserves based on how much you've lent out you need to have some sort of bank on the reserves to maintain your ratio per law. correct right set on the reserves to maintain your ratio per law correct right celtic got it so to meet that requirement if you're short you go to or not i 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 that money overnight and it was in their 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 the books are square and life goes are small interest for that loan and then the next day the books are square and life goes are however if you can't find a bank however if you can't find a bank that will loan you the money you can go to the fed and say at the bar of light it 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 requirement loan me the money overnight last resort hey i need to borrow to meet my reserve requirement loan me the money overnight well that's well it's kind of nice kind of kind of help telling

. the cysts system the banking system are being started just that are don't do that. to me don't because i know you will loan to me because i don't trust. the bank they need that in these months in the money i only have to go half of to through the surf over to the borrowers or so so it would puts . so. cost mischievous miss in the systems to cause them to because it was for people with a boring and convincing consistently wondered why in the heck does this bank get rejected by every other best to me wonder why in the heck does this bank get rejected by every other bank to borrow i have to go to the fed so it's sort of the walk of shame to go that's the failing to borrow i have to go the fed so it's sort of the walk of shame to go that ask the fed but barring honorably on me when another when the nothing the other code. won't come to well

this is going to get in the good again and then in the good again in those years you will offer. them anything to get the same message that we need to repot it extended now your feeling is that this protest that we need to extend and now you're feeling is that this pertains to one institution in particular that is not being named at that ends to one institution in particular that is not being named at that is having trouble. staying out of insolvency could be because having trouble. staying out of insolvency could be but it's immaterial in a way because all these banks are in the street completely committing that her period or what would be because all these banks are in the street completely interconnected which means if it is just one and it goes falls then it hits 2 that

it for the means if it is just one and it goes falls then it hits 2 that it for the it's 16 they're all interconnected so it could take it to a should but it they it's 16 they're all interconnected so it could take a door should be going down or like lehman. where you see this interconnected this going down or like lehman where you see this interconnected this of these banking system large start to fail one goes down a bit 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 but it was a very big 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 really thought much of it gore down in austria but that was actually the 1st dawn with over the open and we really thought much of it gore down in austria but that was actually the 1st dawn with an overview of the system right and then and lehman brothers of course in 2008 was kind of the domino theory of the system

right and then and lehman brothers of course in 2008 was kind of the domino theory . and 192021 there was also a similar kind of collapse into 892021 there was also a similar kind of collapse and i'll talk about base money for a 2nd the base money supply and i'll talk about base money for a 2nd the base money supply has declined by over 23 percent since 26 saying this is by far has declined by over 23 percent since 26 saying this is by far the last indignity present just to keep us decline clients that's just if the fed was it was created in december 23rd 31913 again the end of the italian facial. inflation debate flick could be less reason to bombay could be a reason sin sin and the one winner can or should be to flate the fish laden mission. ok. the best the base wants when i say supplies been

declined 23 percent since 2016 and that's the biggest. decline 23 percent since 2016 and that's the biggest decline on record since the fed was created what does that. i mean one of the tells well doesn't the cute line on record since the fed was created what does that mean what does that tell well it does in the could it could be deflation and when i started this career and started the public speaking circuit it could be deflation and when i started this career started the public speaking circuit i was more of a deflation is that inflation i got turned around so 4 years ago because i was more of a deflation is that inflation list i got turned around some more years ago because because jim did a study of all non backed current season because jim did a study of all non backed currencies of everyone in or did excuse me in inflation but if you go back to early 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 was the liquidity in depression which was a leader 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 i think it's unlikely the depression i don't rule out entirely but i think it's unlikely the game will go that direction well in that the point here is that they're the base money is 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 easing that analogy the gold in the system today right and so easing that analogy. if in fact the base money is declining rapidly and you have an institution 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 and they can't meet their requirement that's in distress or many

institutions that are in distress and they can't meet their requirements then that's a set up for some defaults you know those built in the since then it's a set up for some defaults you know those built in the system as you well know that. if you can't pay a bond some as you see will know that if you can't pay a bond and you default on it interest rates will start shooting up which means the value of the bomb comes down to the new 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 which is hugely flesh rasta clee like what happened in $1000.00 maybe when booker was in charge which is hugely flay sure i mean think about interest rates going to 10 percent no one can beat their debt obligations for 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 in the value of those balls from the government side and you 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 a debate i think is still openness and so i don't again don't rule it out i think it's still a debate i think is still open and i think is still one of the other side of the inflation deflation cawing is something called hyper and i think is still one of the other side of the inflation deflation cawing is something called hyper inflation right said otherwise it's not all that fun bad for gold and silver investors to have been right send otherwise it's not all that fun bad for gold and silver investors to have deflation if it means you have a currency collapse correct right and so we're seeing currency collapse in a flash and if it means you have a currency collapse correct right and so we've seen currency collapsing all over the world gold's made new all time highs against just about every currency in the world all over the world gold's made new all time highs against just about every currency in the world except up to you when you asked us dollar or whoever and we're already seeing crossing collapse right now right now and it is manifest

benefiting getting all the gold and silver are exactly in the further your point if you read the gold constant. exactly in the further your point if you read the goldman constant professor just room his whole point is that gold is best to deflate. have taken just room his whole point is that gold is best and deflation have taken into account that would most of the study had to do with the gold backed currency in most of the sector count that would most of the study had to do with the gold backed currency in most of the sectors that he studied but nonetheless it's a good point to keep in mind inflationary pressures that he studied but nonetheless it's a good point to keep in mind an inflationary depression a debt liquid in depression aren't that much different and once you lose faith in the liquid in depression aren't that much different and once you lose faith in the currency altogether you just absolutely don't trust it at all and in a debt liquid in the currency all together you just absolutely don't trust it at

all and in a debt liquid in depression currency becomes valuable again and people of course trust it so you can restart the system in depression currency becomes valuable again and people of course trust it so you can start the system morally my belief the liquid the pressure of sex more and more morally my belief the liquid the pressure of sex more and more of that inflationary threat right because the bad guys get spanked for having that inflationary threat right because the bad guys get spanked for having incurred such harm ball incursion into zombie companies sighing and current such ball incursion into the zombie companies zombie banks and they're just being kept alive through machinations of the sad and the 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 punished in some margin you know this type of thing and they need to be punished exactly need to be punished in

some margin you know good for me the idea has always been and i'm an idealist as you know max but i mean the right to success good for me the idea has always been the nominee idealists as you know max but i mean the right to succeed is also the right to fail and these guys write bad loans or do. the wrong thing that should be proceeded 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 obama should have bailed out the debt 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 usa also macleod of gold money dot com recently sitters not the creditors right son usa also macleod of gold money dot com recently suggested that china could soon announce it has 10000 perhaps 20000 tons of gold just that china could soon announce it has 10000 perhaps 20000 tons of gold is this crazy as a possible what is what are your thoughts well you know not super close but you know what is this crazy is

a possible what do you 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 want to go with 20 but 10 i don't think you have our program talks down then i don't think it's crazy i don't 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 that because the question with 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 nuclear option against the dollar and they've been secretly accumulating a huge stockpile of gold as kind of the nuclear option against the dollar in the us if if this trade talks of china go badly china can wipe out this nucular ave us if if this trade talks of china go badly china can whip out this nuclear option and say you know what we actually got 101-5000 tons of gold and dollars are going to 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 maybe are going to go to a gold back aren't finished and we're gone to russia and somebody else maybe are

going to go to a gold back and see you know forget it you're toast one fine point very well below about the you know forget it you're toast one fine point very well below about the amount of gold china is asking the wrong question. when they report amount of gold that china has is asking the wrong question when they report the amount of gold what has happened is it's asked specifically how much gold what 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 instead of asking the correct question was held in that bank in china and that you could give you the answer instead of asking the correct question which is how much gold everywhere in china is held under the national name 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 answering a very explicit question they don't ask that question so the chinese are actually

answering a very explicit question in very explicit way so no one really knows the the amount because it was very explicit way so no one really knows the the amounts because it wrecks the report everything the report it what's asked for the biggest gold miner in the world record the report everything the report it what's asked for the biggest gold miner in the world. probably and do we ever see a golden gate with a chinese stamp on and there are problems and do we ever see a golden gate with a chinese stamp on it or will the museum bow to ensure that might allow the export they don't leave so that all the museum but. might allow the export they don't leave so they're right plus they're buying everywhere exactly and right plus they're buying everywhere exactly and they buy official reserve number their number 2 or 3 they buy official reserve number their number 2 or

3 things and they could easily be number one on a stealth and they could easily be number one on a stealth stealth basis so china's changed course from a more secretive do not the stealth basis. china's changed course from a more secretive they're now more public about the gold holdings but even so they seem to be opening their core public about the gold holdings but even so they seem to be opening their camano to mix asian countries a bit to maybe telegraph that this mono to mix asian countries a bit to maybe telegraph that this is coming if they continue to pressure us you know we're going to start to leak information 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 no actually it's quite a bit more like they're put into the marketplace and 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 would busy understanding this cat and mouse game on trade that does trump. would dizzy understand that like would he even does he have the intellectual chops to understand it like in 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 now they've got 1520000 ounces 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 what do you know what that means i would have to it would have to explain i'm sorry tons of gold would do you know what that means i would have to it would have to explain that i would probably would be or listen to tbilisi would go my view being that i would probably would be or listen to tbilisi would go my view but nonetheless i think he would need the details to make good you know correction decisions nonetheless i think he would need the details to make you know correction

decisions could be in the could be the pearl harbor of the 21st century it's possible. it could be the could be the pearl harbor of the 21st century it's possible that there could be a while but so last week president g. a while. so last week president g. over there in china said that he and we china should implement block change technology cromer then 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. dollars a weapon as global financial is the economy again is this part of the disintegration of the u.s. dollars a weapon as global financial grid so president you she of china. riveted the president has she of china you know they've been flip flopping back and forth their command say you know actually we like block chain block chain is up and back and forth there c'mon say you know actually we like block chain block chain is

a threat to korea brad sherman in california the threat to the dollar not china saying we like blood threat the korean brad sherman in california the threat to the dollar. not china saying we like blood. yes i think part of the whole crypto thing is in the because. i think part of the whole crypto thing is spin the because probably the prime example has to do with the cast of society i really think that's the big problem the prime example has to do with the cast of society i really think that's the big move for the bankers i mean why do people get really mixed up in politics and that's ok group for the bankers i mean why do people get really mixed up in politics and that's ok with me i let people be themselves but i love to show the slide that i put most of my time with being 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 that movie it shows your pyramid proxies 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 that everyone thinks are the big leaders they say 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 your you're 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 back to the movie network where i 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 us there's no mexico there's only of 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 in above that is you commercial banks in above 80 in t 3 and this is the truth and then above that is your commercial banks in above that's your investment yeah. right that's your investment yeah barrel.

or ice debris that's right. there i'm going to pick up in a 2nd segment if you can stay. there i'm going to pick up in a 2nd. 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 oh yeah i'm going to leave 2 for dollars spent on your chair we what we were we talked about that in the beginning david but we're no chair spending all right that's going to do it for this edition of the kaiser if you are with me david but we're not sure spending all right that's going to do it for this edition of the kaiser if you are with me max kaiser and stacy herbert i want to thank our guest david morgan of the morgan report catch us on twitter i'm 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. that kaiser report and i stand by all.

cooked edition. cooked additional supposed to. supposed to. see him do you see my future. see him do you see my

future. looking good for the showing of that we're going to. look at with the showing of the ship is going to. you know it's true in the church . do you think it should be you or your bishop so if. you think it should be you or your patients that it. will lead to love shipping. you up and most of those. will eat of shipping. you up and most of those libya will look at the posts in your books are still missing you know so i do know what the book did you will look at the books in your book are still missing you know so i do know that all. of the all. of. it was the latest news in the propose.

it was the latest news in the propose. boys and in the show you have put into this list to move to some of the employees and into the show you have put into this was going to do some. research through some really strong yeah. it does raise. nurses through some really strong social it's a reason. you know we all take the language that we speak for granted it's like the air and. you know we all take the language that we speak for granted it's like the air that we breathe we don't notice that and the fact most of us believe that we simply perceive reality the way that we breathe we don't know that said and the fact most of us believe that we simply perceive reality the way that it is in fact we know it turned many years of psychological experiments the best narry far and it is in fact

we know it turned many years of psychological experiments with us mary far from the truth we don't see things just the way that they are instead the world that we are truthful don't see things just the way that they are. instead the world that we think internal world movement is highly constructed by the structures of our brain that internal world movement is highly constructed by the structures of our brains but also by the structures around languages and cultures telling us how to dance but also by the structures around languages and cultures telling us how to put things together. and. thanks to them. today there are good dentists and bad deadens the bad news in today there are good

dentists and bad deadens the bad news in yemen the united states deems to be a threat the looked at it is those warnings any and then the united states deems to be a threat the looked at it is those who work in syria the cia and the u.s. military were engaged in the covert actions reveal the cia and the us military were engaged in covert actions really throughout the world. where they were assassinating populist leaders really throughout the world. where they were assassinating populist leaders they were backing up right way military into those funding and arming death squads they were backing up right way military into those funding and arming death squads there's no phones and then more because there's always a small town called for more and there's no phones and more because there's always a small town called for or really could this. profit. really could this. profit.

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us. lead led to the creation. and i'm not the group's leader killed by the americans last week was washington's creation . by the americans last week was washington's creation. we know the creation of the unites states islamic states most of the. creation of the unites states islamic states most of the illegal invasion of iraq and the

collapse of the iraqi state when extremists by the invasion of iraq and the collapse of the iraqi state when extremists by the americans were set free. concern over a large number of concerns set free. the concern over alleged interference from russia may have stopped it noticing home grown rats report on under ference from russia may have stopped it noticing home grown rats we report on an undercover investigation that lifts the lid on a polish internet troll farm. cover investigation that lifts the lid on a polish internet troll farm. and confused by bricks that a u.k. parent. i'm confused by bricks that a u.k. parent.