as banker occupation started to rise up again we reported that you queen that phrase banker occupation started to rise up again we reported that you queen that phrase giago back in 2009 in 2010 during their many op risings and protel back in 2009 in 2010 during their many op risings and protests around the world we started to see so i just wanted to follow up on our interview with dmitri s. 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 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 like there's been great powers and stuff tried to intervene but in fact if you saw it like over a 1000000 protesters demand chill

a president resignation he said over a 1000000 protesters demand chill a president resignation he's a billionaire he's a pose austerity and people have had enough until a billionaire he's posed 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 global interest in egypt and spain so a lot of them are about this global insurrection and get all the reaction rationally divs banker occupation that's what we call an action and get all the reaction rationally divs banker occupation that's what we call it we said and you know they got over there it's so what i call came up with a new metaphor. and you know they got over there it's so what i call it came up with a new metaphor. it's the stone blower you know that with a stone blower in

a push it down the side it's the stone blower you know that with a stone blower in a push it down the sidewalk or the road there and it blows all the snow off to the side and walk 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 else the top 110th of one percent and they leave everybody else without anything right and they do this with. without anything right and they do this with

financial engineering and policy initiatives so it's not an accident it's a financial engineering and policy initiatives so it's not an accident these huge walls of income gaps don't happen because of some of these huge walls of income gaps don't happen because of some. accident by design and you know we've shown on this show. accident by design and you know we have 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 in great to fix prices in the gold market to manipulate prices and to ingratiate into you know in a lot of people in to 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 treasury bad intent this 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 a breeze 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 leave our 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 band. what they have created is a globally precarious situation i the vast majority of people are precarious and

they actually have to work for a focus so vast majority of people are precarious and they actually have to work for a focus so over there at the bank of england on the market it was shown that he as an individual was ingore 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 runs the central behaved in libel rigging yes and as an individual he iran is the central bank so that's a few main central banks run by individuals and they're committing thanks 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 trick raud 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 a will that the system itself is rigged and therefore anybody who has

a job within that system or functions in that system will become corrupted by the job within that system or functions in that system will become corrupted by that fundamental layer that is the corrupt monetary system and here for that fundamental layer that is the corrupt monetary system and here for example in chile why people are protesting here why i believe they are genuine pro to 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 in west 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 one of the ever 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 he had. 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 god 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 our mobile 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 so at the same income level as the bottom 5 percent among bollea and moldova so we all recognize that moldova and mongolia are developing all recognize that moldova and mongolia are developing nations their poor nations and the bottom 5 percent in chile are equal to the 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 those 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 well 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 creation and the top 2 percent in chile are equal to the top 2 percent and germany but what you've seen those t. shirts are bumper stickers or whatever the say 2 percent and 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 here the until a the poor. it's not going to improve if you keep beating on people now here they can chill a policy is to bankrupt the country to eviscerate the middle class and 2 were

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 when we ward 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 have been this kleptocracy notices that there's a 1000000 people on the street that have been impoverished to their policies their response is to double down right and 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 in mass 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 impoverished and there's no of corruption they double down and they just make even more impoverished and there's no pushback there's no law against it in that the united states they've got rid of all the regulations rights and pushed back 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 and england of course it's it's it's sort of the purest of there's no way to stop it and in the bank of england and england of course it's it's it's sort of the purest case of a kleptocracy and so it now that's been spread to the core business 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 this. a lot of also untrue bugs there are conspiracies going on all over the place and as we pointed out the conspiracies to rig precious metals markets we've

presented it here in cries report back into the conspiracies to rig precious metals markets we've presented it here in cries report back in 2011 people said it was a conspiracy theory and indeed it was a theory of our is that it was big money 11 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 been 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 as 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 well the non 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 is going 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 bang 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 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 in a 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 high intervention business appears to be getting worse and worse what is the fed hiding the longer this goes on in the bigger interventions get the more my confidence is shooting 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 brake. and i expect that's true for other investors too and he was responding to a tweet from brad houston about the fed temporary repose on september 17th at

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 told you they said we're doing repose today and tomorrow on september 19th they said we're extending repose until october 10th 75000000000 overnight 30000000000 term and then on october for october 10th 75000000000 overnight 30000000000 term and then on october 4th we're extending repos into levon 141011 or extend reposed until january 2024th we're extending repos into levon 141011 or extend reposed until january 20201023 we're expanding overnight repo offering to 120000000000 a 45000000000 term there are 1023 work spending overnight repo offering to 120000000000 a 45000000000 term there's a run on the president for on. the. oil which just short of. a and there

it is then there is not sufficient quantities not sufficient quantities to tips to keep the cinema system afloat but and some and some major bank could be j.p. morgan that's my guess is into an ounce a major bank could be j.p. morgan that's my guess is to announce bankruptcy or insolvency or deutsche bank and this is bankruptcy or insolvency or deutsche bank. and this is of course a look at the numbers number and that's and sounds outstanding team to 2125 we want something that was so nice to be in such a collapse and make this money in fact in fact the fact we're going to go they're going to integrate into here and talk to hear exactly as you about that talks exactly about that the day those that date that that's at the base money so the

money supply is. declined i not being at the same rate of 102220 rate and i finally told one credit one in the. crowd it in the coming collapse says 2616 the in the u.s. monetary base so says the cop to buy a back about 2023 point 668 percent this is the deepest and longest the klein 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 a december 23rd 1913 that should not be ignored the last time there was a decline close to this magnitude there was a sharp deflationary recession 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 can see the dick that was the one that occurred from 1920 to 21 here's today you could see the decline in the monetary base and back there in 1921 and just klein in the monetary base and back there in 1921 and just for you know definition purposes that were on the same page he just for you know definition purposes that were on the same page he just finds the monetary base as the foundation part of the money supply of the monetary base is the foundation part of the. money supply and represents the most liquid part of that it basically acts like gold and represents the most liquid part of it it basically acts like gold and a 100 percent funded gold standard it represents a in a 100 percent funded gold standard it represents the final settlement of

a transaction right that's the key is the settled final settlement of a transaction right that's the key is the settlement layer as it's called with the most liquid highest grade paper government paper layer as it's called with the most liquid highest grade paper government paper if these banks like j.p. morgan or deutsche bank are unable to settle trade 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 then when the end of the coins 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 often 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 christ and

a contagion. will be a continuation of the 2008 crisis but much much worse because in the 2008 crisis the response by central banks was 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 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 revenue and the hope was that this would create growth g.d.p. grew. both in taxable revenue to pay down some debt but instead the banks simply took that money in order 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 and footed 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 over 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 for leverage the economy 10 times greater than it had been in 2008 so now the debt bomb is exploding and so now the debt bomb is exploding and the fed is desperately trying to cover it in the repos market and the fed is desperately trying to cover it in the repos market which is like trying to put that fire in california with a squirt gun so the final settlement which is like trying to put that fire in california with a squirt gun so the final settlement of a transaction that that cash meant of a transaction that's that's cash that's gold that's big queen

there's no counterparty risk these that's gold that's big queen there's no counterparty risk these people in the financial markets do not want to swap that for any people in the financial markets do not want to swap that for any instrument with a counter party we're seeing a huge run on the count instrument with a counter party we're seeing huge run on the counterparty market nobody wants any any sort of instrument with the counterparty it would seem the party market nobody wants any any sort of instrument with account. party it would seem during the 192221 recession the decline in the monetary base 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 level 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 as miles 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 notches 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 monitor 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 bases 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 right in 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 pundits like peter schiff got it

wrong 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 our shrunk because use he was calling for inflation yes and people like rick ackerman who are on our show were saying no this is deflation now we see that it is a massive deflation we're saying no this is deflation and now we see that it is a massive deflation deflationary depression where prices collapse and this is what we're 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 up are 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 entire 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 2002009 perhaps they charge

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 the 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 obama who made that 108 on me they bailed out the creditors but thanks to barack obama who made that $180.00 degree wrong strategic to choice and set the country in a course of epic failure gree wrong strategic to choice and set the country in a course of epic failure thanks obama and you see by the way that i got rid of that fighter that was climbing down here all year 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 and i think it was left over from. the n.c. bitsy spider march more of that coming your way. after the break don't go

march more of that coming your way. after the break don't go away. go away.

during the great depression which. during the great depression which i'm old enough to remember there was most of my family were. old enough to remember there was most of my family were employed. there wasn't it was bad you know much

worse objectively day but there was an there wasn't it was bad you know much worse objectively day but there was an expectation that things were going to get better. there was a real sense of expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america where shaped by the 10s of hopeful there isn't today today's america where shape by the 10 principles of concentration of wealth and power. principles of concentration of wealth and power. reduce democracy attack solo doubt engineering reduce democracy attack solo down engineer elections manufacture consent and other prince holds according to elections manufacture consent another prince holds according to no on chomsky one set of rules for the

rich opposite still no on chomsky one set of rules for the rich opposite set of rules for. that's what happens when you put her into rules for. that's what happens when you put her into the hands of a narrow sector of will switch rule is dedicated to increasing power for chills just as you'd expect one of the most into the hands of a narrow sector of will switch will is dedicated to increasing power for chills just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization the one show intellectuals of our time speaks about the modern civilization of america. of america.

join me every thursday on the alex salmond she'll. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbiz but i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see of that. i'll see that. 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 you know we all take a language that we speak for granted it's like the air that we breathe we don't notice it and in fact most of us believe that we simply perceive reality the way that it is in fact we know it in fact most of us believe that we simply perceive reality the way that it is in fact we know it through many years of psychological

experiments so that's very far from the truth we don't see things through many years of psychological experiments so that's very far from the truth we don't see things just with faith that the way they are in star and so instead world that we work on that that we that they interpret a work believe that inter world we live in this highly constructed body and that it's had to be constructed by the structures of our structure age resent our spray but also in full by the structure at all times so by the structures and languages and cultures that tell us how to put things together the languages and cultures that tell us how to put things together.

well. welcome back to the kaiser report on nice guys or well we are fortunate in not going 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 so i of the morgan report david welcome back starts being so i am paid to start when i got there it's a dollar most people even though a dollar start when you go out there it's a dollar most people even though dollars there was a wait this is a we have sold over 3 theaters sorters over city but even point one from 4 point grew 5 green beans which have not done in the in the in the in for i believe some

filbert of silver which is what about is about 3 quarters quarters of a troy area it's so so the treasury can't even get it right when they've been the new dollars that's 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 those ones aren't all smaller but what if it's with 5 percent so it's actually going to bring about a 25 percent 2nd round silver so that even though it's a wait but let's look at it so thank you so much and i'm so over 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 as where you want to do. this now let us proceed 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. i need to pick your brain you know you've been in this business a long time we've been doing shows together for a long time worst the worst of all the remember when gold was 2000 dollars not

doing shows together for a long time worst worst of all the remember when gold was $2000.00 an ounce. the fed's repos operations are rapidly. the fed's repos operations are rapidly increasing in size and scale should we be alarmed at what's going to increasing 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 obvious 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 borrow and no one wants to go in there some insolvency there's banks going to liquid the need to borrow and no one wants to go to the discount window the fed for the borrowed money of last resort means something as drastic through the discount window the fed for the borrowed money of last resort means something is drastically wrong so let's unpack on a bit now our son is saying there isn't

a solvent thing wrong so let's unpack only because now the our son is 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 and want some somewhere in the system and so why would and they don't want to go to the discount window and want some explain more about we somewhat this is all mean yeah banks so there's an overnight lending the explained 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 required to have a 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 requirement of 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 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 and have some sort of bank on

the certain reserves based on how much you've lent out in that some sort of bank on the reserves to maintain your ratio per law correct right sell reserves to maintain your ratio per law correct right seller got it so to meet that requirement if you're short you go to another guy 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 you pay a small other 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 all interest for that loan and then the next day the books are squared life goes or however if you can't find a bank that 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

last 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. hey i need to borrow to meet my reserve requirement loan me the money overnight well that's kind of telling. the system the bank well that's kind of telling the system the banking system at large that i don't break will loan to me because i don't consistent large that i don't break will loan to me because i don't trust but i think but at least the big money in the us about have to come up with the folks i have served with our federal reserve so if the board put all its so it puts so. she can harness our system instruments and be system because people with more bang for the been saying to consistently wonder why in the heck does this bank get rejected by every other band

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 ask the fed and to borrow i have to go to the fed so it's sort of the walk of shame to go that ask the fed to borrow money when another bank or other banks won't do well in this is borrow money when another bank or other banks won't do well and this is happening again and again and again as you will then very day that we get the same and again and again and again as you will remember a day that we get the same message that we need to extend and so now your feeling is that this pertains that we need to extend and so now your feeling is that this pertains to one institution in particular that is not being named at that is that one institution in particular that is not being named that is having trouble. staying out of insolvency could be but having trouble. staying out of

insolvency could be but it's immaterial in a way because all these banks are in strip completely interconnected which means there's material in a way because all these banks are in strip completely interconnected which means if it is just one and it goes fall. then it hits to that it for the if it is just one and it goes falls then it hits to that it for the it's 16 they're all interconnected so it could take a door should bad date that's 16 they're all interconnected so it could take a door should bank going to downtown or a like or a lean like when we're going to see if there's worse in or you can see the says interconnect of these deaths of banking system. starts to fail still one goes down to begin a lot of barge start to fail one goes down a big enough one will probably take over the league with the tail i mean to go back to the 30 it was a credit that extolled i'm not betting that was never going to be back in the

thirty's a credit bank was in a very bad bank and then really thought much of it going down in austria but that was actually the 1st domino effect of this really thought much of it going down in austria but that was actually the 1st domino effect of the system. right and then in atlanta women even brown brothers of course our assistant in 2008 was paint was kind of the dominant domino there. into 892021 there was also a similar kind of collapse into 892021 there was also a similar kind of collapse and. this talk about base money for a 2nd the base money supply is to and. talk about base money for a 2nd the base money supply has declined by over 23 percent since 20 sixteenth's this is by far the long climb by over 23 percent since 20 sixteenth's this is by far the longest and deepest decline since just as the fed was created and in

this december of 203-9913 the inflation deflation debate could be resolved soon and in 913 the inflation deflation debate could be resolved soon and the winner could be deflation ok so the base want to supply has been the winner could be deflation ok so the base wanted 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 mean what does that tell us well it does in the kuta cline on record since the fed was created what does that mean what does that tell well it does in the could could be deflation it were a story of this career start of the public speaking circuit would be deflation and our story of this career started the public speaking circuit i was more of a deflation is that inflation got turned around so 4 years ago koos i was more of

a deflation is that inflation got turned around so 4 years ago because because jim did a study of all non backed currencies and every because jim did a study of all non backed currencies and everyone. and excuse me in inflation but if you go back to early one in or did excuse me in inflation but if you go back earlier in the gold backed currency like we had in the thirty's was the liquidity in depression which was a dealer in the gold backed currency like we had in the thirty's was the liquidity in depression which is a depression i don't rule out entirely but i think it's unlikely inflationary depression i don't rule out entirely but 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 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 using that analogy the gold in

the system today are right and so using 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 requirements 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 system and 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 in as you well know that if you can't pay a bond and to default on it interest rates will start shooting up which means the value of the bomb comes down drawing 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 maybe when booker was in charge which is hugely be flayed

drastically like what happened in the 1980 when booker was in charge which is hugely be flayed i mean think about interest rates going to 10 percent no one can beat their debt obligations from there i mean think about interest rates going to 10 percent no one can beat their debt obligations from the government side. and it would have a huge deflation in the value of those bonds government side and it would have a huge deflation in the value of those bonds 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 it's still open and i think it's still one of the you know sort of the inflation deflation cawing is something called hyper inflation because the one of the other side of the inflation deflation cawing is something called hyper inflation right sound otherwise it's not all that fun bad for gold and silver investors to have deflation 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 collapsing nation if

it means you have a currency collapse correct and so we're seeing 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 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 and it is benefiting goldman sachs up the u.s. dollar and we're already seeing currency collapse right now and it is benefiting gold and silver exactly in the further your point if you read the gold constant professor dollar exactly in the further your point if you read the goldman constant professor jester i'm his whole point is that gold does best in deflation have taken with him his whole point is that gold is best to deflation have taken into account that would be most of the study had to do with the gold backed currency in most of the sectors that would be 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 inflationary depressions of the study but nonetheless

it's a good point to keep in mind an inflationary depression a delinquent depression aren't that much different in one you lose faith in the good liquid and depression aren't that much different and one you lose faith in the currency altogether. you just absolutely don't trust it at all and in the currency altogether you just absolutely don't trust it at all and in the liquid in depression currency becomes valuable again and people of course trust it so it can start the system morally my belief the liquid the pressure was actually more moral than depression currency becomes valuable again and people of course trust it so it can start the system morally my belief the lucre of the pressure of sex more and more of that inflationary pressure right because the bad guys get spanked for having that inflationary right because the bad guys get spanked for having incurred such horrible incursion into the zombie companies some incurred such horrible

incursion into the zombie companies zombie banks and they're just being kept alive through machinations of the fat and big banks and they're just being kept alive through machinations of the sad and this type of thing and they need to be punished for need to be punished they supported you know this type of thing and they need to be punished for need to be punished a supportive you know for me the idea has always been the numb and idealist as you know max but i mean the right to succeed for me the idea has always been the numb and idealist as you know max but i mean the right to succeed is also the right to fail and if these guys are bad loans or do the wrong thing they should be punished is also the right to fail and if these guys are 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 data i mean the markets should be able to work both ways that's why obama should have bailed out that batters not the creditors right i mean that's on us alstom a cloud of gold money dot com recently suggested it's not the creditors right i

mean it's on us alstom a cloud of gold money dot com recently suggested that china could soon announce it has 10000 perhaps 20000 tons of gold is it that china could soon announce it has 10000 perhaps 20000 tons of gold is this crazy as a possible. what do you what are your thoughts well you know not super close but you know we have crazies a possible what do you what are your thoughts well you know not super close but you know we have our private talks down there and i don't think it's crazy i don't want to go with 20 but 10 i don't think our private talks don't 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 ok but the promise error is that they because the question with their answers no one really knows ok but the promissary is that they've been secretly accumulating a huge stockpile of gold as kind of the nuclear option against the dollar and the u.n. secretly accumulating a huge stockpile of gold as a kind of the nuclear option against the dollar and the u.s. if if this trade talks of china go badly china can wipe out this nuclear option if

this trade talks to china go badly china can wipe out this nuclear option and say you know what we actually got 15000 tons of gold and dollars down to say you know what we actually got $15000.00 tons of gold and dollars now finished and we're gone to russia and somebody else maybe are going to go to a call back and see a finished and we're gone to russia and somebody else maybe are going to go to a cold 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 that china is asking the wrong question when they report amount of gold china is asking the wrong question when they report the amount of gold which has happened is it's specifically how much gold is the amount of gold which has happened is it's 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 they 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 this 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 you don't ask that question so the chinese are actually answering a very explicit question very explicit way so no one really knows the the amounts because they don't reckon very explicit way so no one really knows the the amounts because they don't record the report everything the reported what's asked for the biggest gold miner in the world to report everything the reported 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 it or well the problem and do we ever see a golden gate or the chinese stamp on it or will the museum but to ensure that might allow the export they don't leave so there to the museum but to ensure that

might allow the export they don't leave so they're right through plus they're buying everywhere exactly and right through plus they're buying everywhere exactly and they buy official reserve number their number 2 or 3 i think 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 to now more stealth basis so 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 come off 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 is going 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 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 playing to 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 would busy understand 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 if it's 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 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 would he know what that means or would have to it would have to explain i'm

sorry tons of gold would he know what that means or would have to do would have to explain that to him or he probably would be or listen to tbilisi would go my view but met only 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 decision on the less i think he would need the details to make you know correction decisions could be 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. so last week president g. over there giving a while. so last week president g. over there in china said that he and we china should implement block change technology across the current 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 has global financial gonna me again is this part of the disintegration of

the us dollars a weapon has global financial grid so president you she of china you know they've been flip flop rid president you 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 a threat a 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 the korean brad sherman in california the threat to the dollar. not china saying we like blood. 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 buy 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

with move 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 in most of my tough 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 oxys 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 seem 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 you're you're huge on t.v. he's got the biggest power all that but above that is you're you're huge could go on mercer big corporations and take you back to the movie network where africa 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 8 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 is your commercial banks and above that the t. and t. 3 m. and this is the truth and in above that is your commercial banks and above that your investment young barrel. or ice your investment young 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 and. if you can stay oh yeah i'm going to leave $24.00 spent on your chair we want where 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 not sure 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 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 geyser 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. kaiser report and i stand by i. cooked a dish with. cooked additional note of what was a gets up there to look at some of these it's just a. lot of what was it gets up there to look at some of these it's just a. little thing it's not. going to. see him do you see him if you don't know show personally. see him do you see my

future. looks good for the showing is that we're going to see is the issue in the church. looking good for the showing is that we're going to see is the issue in the church. do you think it should be you know you're pushing 30. do you think it should be you know you're pushing 30. both of shipping. you up and most of those. both of shipping. yup and most of the book is the work of the books in your book which still mostly notes i didn't know before did the work of the books in your book which still mostly notes i don't know what the people who go. to school. was the latest news in the pulse. was the latest news in the pulse.

boise being right there yet of public interest was going to some. reason to believe that the show yet of putting. listeners through some really strong. lyricists through some really strong social. stuff. while give easy vasan this us. while give easy vasan this

us. and. for you. and. for union forms like yes it's. the rational ones like south. rational a south. designer lug nuts. desirable of the needy thief. that the new doc was on my way as sneaky thief. that the new doc was on the. up i peeked in the zimmer full. of them. slipped in the zimmer

full. of them shoes sort. of fortune in that in the. fall of fortune in the begin to your good. fortune for the outnumbered a lot of authors do your good. fortune for me out maybe a lot of authors. more than enough for us financially. and more than i thought of such financially.

russia's foreign minister says that the u.s. invasion of iraq will lead to the rise of islamic state russia's foreign minister says that the us invasion of iraq. the rise of islamic state and the group's leader killed by the americans last week was washington. the group's leader killed by the americans last week was washington's own creation. you know the. united states. you know the. united states islamic states most of the illegal invasion of iraq and the collapse of iraqi state islamic states most of the illegal invasion of iraq and

the collapse of the iraqi state when extremists who were held by the americans were set free. british governments and when extremists who were held by the americans were set free. british government suspends the shale gas fracking due to environmental concerns but the opposition calls it. shale gas fracking due to environmental concerns but the opposition calls it a pre-election stunt and demands a permanent ban also this hour. pre-election stunt and demands a permanent ban also this hour. thousands rally in failing public services and growing inequality thousands rally in failing public services and growing inequality.