everything private they kept all of those unicorns as tech uniforms which on paper they were worth billions and billions and billions of dollars the ordinary chump they thought like hey we're getting free money from the fed so why should we let the ordinary chump get in on this because it's free money for us and we can just keep throwing money at it and raising our own valuation and on paper we get to then leverage ourselves up and buy real assets by properties in new york city by land by gold by bitcoin. but now as we hit 0 and even negative in some places it's all falling apart because they aren't able to find these willing investors or who are so easily able to throw money away so for example many of these shale oil companies are privately owned including by private equity firms and it's hard to get cash flow data out on them but for example just to get a feel for the magnitude of how much money they're burning by sorting through $29.00

publicly traded shell oil companies the institute for energy economics and financial analysis found that between 2010 through 201-8181 1000000000 dollars in cash was burned plus is the cast burned by the privately held companies so the total casper is likely in the neighborhood of $700000000000.00 right during the i'm our republic that they didn't go through the artifice of creating a public company or a private company they just burned the actual cash in the stove to keep warm here they've created simple business model of fracking which is another euphemism for burning cash right because it takes more energy in than they get out it takes more cash in than they get out it is a literally a bottomless pit of cash that is by definition impossible to make a profit from and in the private market like oh we work for other tech companies that are in the private market there's a mass hallucination going. where they've think that well we need to become the

biggest energy exporter and producer in the world and the saudis are no good in america's number one energy in the company in the world so we're going to take 567 trillion dollars are going to light it on fire up there in north dakota and claim that we're the number one energy provider in the world the fed who is the one that is giving them this free money. keeps on looking around at the real economy why aren't we just rising why is the economy so weak we just gave our friends 10 trillion 14 trillion dollars since the financial crisis where is all this cone they have to watch kaiser report and learn that literally of the guys are giving it to are just burning it because they just that you're giving them too much they're just trashing it they don't respect it it's free money is not respected the beatings will continue until morale improves or in this case the money printing will

continue until inflation improves now you never get inflation from money printing in this way you only get deflation we've been saying that for 10 years even though it's against all economic orthodoxy that's been taught in the schools for decades they always say print money get inflation we said actually in this environment you print money you get deflation and that's exactly what's now happening because in this environment the money printing is crowded out all of the viable businesses and kept the unbuyable are invaluable or crash companies afloat and becoming zombie companies and zombie banks and but of course they're going to keep printing and told there's nothing left and we lose supremacy to china. the money is still printed obviously it's this being printed in the repo markets it's being printed project these people remember used to be $1.00 g.d.p. when you and i were young and entering the workforce $1.00 of debt would create $1.00 g.d.p. or even $2.00 their g.d.p.

now it's about $7.00 of debt creates $1.00 g.d.p. that experts allowed on c.m.t. see their finger and point their finger at the millennial and call them socialists and what are these kids i don't know anything else like they see that in her head like wait if it's taking $7.00 in debt now to create $1.00 g.d.p. soon it's going to be 14 and then it's going to be $32.00. and who's going to pay that debt me right like the 19 year old the 20 year old the 25 year old is going to be owing that but the only reason these companies have had such growth is because investors didn't care about the business model profits in positive cash flows all these investors cared about is the likelihood that the cash burning company would be able to raise new money from new investors such as by issuing new bonds or new shares so that it could pay off and remunerative the existing investors and existing stockholders counted on this new money to keep the company afloat and share prices sky high and i would extend this to the actual generational situation

happening here in america is all these boomers and the generation x. after them they kept on spending and accumulating this debt because they thought well we don't need to have $2.00 or g.d.p. growth for every dollar debt because eventually we could just keep on rolling it over to another generation of chumps and that will pay us off that will allow this to continue but we're at an end point with that in fact if you were to apply the same definition of g.d.p. today as was used 30 years ago or 40 years ago it wouldn't be 7 or $8.00 of debt. it would be closer to $80.00 that needs to be associated with that so it's the same as saying infinite right you don't get any growth. and you don't get any tax revenue at all because the people who are printing the money don't rely on taxes to get wealthy they're not part of the real economy that's a that's the same thing as saying the rulers of saudi arabia rely on the wages of

the people living in saudi arabia to get rich they they don't they just print more or pump more oil so in the america the princes that run our economy just print more money they don't need the workers they don't need their taxes that's why they don't have wage growth why there's been in this aeration because they're unneeded but we're going to turn to a story that kind of ties these all together because the coal industry of course is going bankrupt because. of the fracking industry providing natural gas an oversupply of it which is driving down the cost of setting up a natural gas energy power facility rather than a coal facility but this story of course emanates from west virginia kentucky and virginia all states that voted for trump and west virginia in fact went for trump by 42 points the biggest in the history of west virginia over hillary so m.s.m. we see has not covered this though this is a very much of a worker story that workers united in and got their way against

a corporation that was using the the loopholes in u.s. law to basically get you know. short changed on their what they were do after months of protests and turmoil black jewel agrees to pay its kentucky coal miners black you'll see the coal company that had declared bankruptcy earlier their severe and left hundreds of kentucky miners on paid for weeks of work sparking a 2 month long protest and harlan county has agreed to pay roughly $5100000.00 to cover back wages of its kentucky virginia and west virginia miners according to the settlement approved by the u.s. just to court for eastern district of kentucky this week they're going to start sending the checks out over the next week but they the workers the coal miners had occupied like the rail tracks and prevented any of their coal from being sent out it was $23000000.00 worth of coal because they felt it was due for them course that's kind of like what you see in france but also how it connects to fracking is remember with frac or is going out of business what they're doing is they're supposed to pay a bond they're supposed to write

a bond to the state like north dakota but the cleanup costs and it cost something like $2.00 to $2.00 and a half $1000000.00 to clean up well they're abandoning them and apparently there's not enough bond that they have left to even cover the cost of it so the taxpayer is paying it here at the same thing black jewels bankruptcy also raise questions about the kentucky department of labor's and foresman of a performance bond that is required from new. destruction of mining companies to cover wages the bond requires mining and construction companies that have been doing business in the state for less than 5 years to post a bond to cover wages if the companies go under and are unable to pay apparently there was no bond in this situation they didn't have any money to pay these workers when they went bust corporations are always going to abuse workers that's why there needs to be organized labor now people of those who are free market boosters will say no no you just let the market decide everything and 3 i'm all for that but

you'd have to include of the central bank as long as a central bank is being manipulative by bankers and there's not a free market in money the price of money is fixed to encourage this type of behavior then there needs to be organized labor that's the that's the flywheel bus the counterbalance to the central bank is organized labor the army is an organized labor is the last group to understand this they they should get their act together and tie their wages to the percentage of money supply printing but also in this case martin luther king jr whatever been able to warn the population of today what this is and tailing i.e. we are divided conveniently for i believe the elites into red team and blue team you're either in the partisan talking points of the republicans or the democrats so of course the entire democratic media is way bigger than you know there's just fox

news and the c.n.n. and most n.b.c. and all the others they they nobody discuss this they're not talking about this and that they're unified in the same way they're being they're being exploited and robbed essentially by the same. the same guys rigging their precious metals markets are the same people involved in rigging this situation where workers these guys put in the hours they put in 2 weeks of work and they were never paid for. and then they had to do something about it because nobody else was willing to help them out star you could be like a sack of family and look at this catastrophe and say hey this is a great place to sell synthetic l.b.o. . right on do all right we're taking a break when i come back much more coming your way. in a world of big partisan lot and conspiracy it's time to wake up to

dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. the good news if you like and use the term deep state you were no longer deemed a conspiracy theorist the bad news is very real and powerful and a danger to the democratic process the deep state as the 4th branch of government is it counts. time after time corporations repeat the same mantra sustainability it's very important to accelerate the transition to sustainable transport sustainability remand

a more equitable and sustainable world. they claim their production is completely hamas. it. companies want us to feel good about buying their products while the damage is being done far away and this is something else this was going to mean and i know. i mean listen we don't want any minute and i'm. just. going. to madge and being a 635 and you have a career and a career involves using your i phone in your computer and things like that being in an office and perhaps you sort of getting to circular. you could have to stop doing all this in this kind of you lou the minutes must be frightening my world became

smaller and smaller and smaller until i ended up running it and the box. around it a very strong magnetic field held in my head. think of it like a real hard shirt my skin burned and that wireless access point there it's just continues on saying with our students in the schools. we are just continually bathing our citizens in this microwave radiation it is certainly electro small and it's getting worse. for the day but there are good terrorists and bad deadens the bad terrorists and those in yemen to the united states against a real threat the looked at those award in syria the cia and the u.s. military were engaged in covert actions really throughout the world. where they

were assassinating populist leaders they were backing up the right way military windows funding an army just was there's no phones and then more because there's always a small town called for or really good that's good for profit. ok welcome back to the kaiser report imax keyser time now to return and continue with our conversation david margan of the morgan report welcome back to commence alrighty well we're so much the calmer let's try to just dive right into it following up on our conversation mr morgan about the dollar is ation of the world seems like people are getting rid of the dollar we see that the numbers in terms of dollars being used in global trade it's all been falling for the last 20 years. or all stuff to just stop pricing their contracts and dollars several years ago jim

rickards said on this show that when obama weaponized the dollar be a swift it would cause nations to seek alternatives is this part of that move of course as i guess the biggest gas company in russia what do you think i agree that you know the brics have pretty much made a stance that they want to. remove the social and gold as much as possible should all kinds of big trade deals done between china and russia in their own currencies circ $1000000000.00 all together right so dollars ation you see that is in place all happening i do on that score a few months ago congressman brad sherman pointed out that quote an awful lot of the international power of america comes from the fact that the dollar is the standard you know enough international finance and transactions clearing through the new york fed is critical for major oil transactions do you agree with that and what does it mean that major economies are moving away from clearing through the fed it means a lot i mean there's you who want to leave a cursory study of the current economic system those that we have the petro dollar

everything the oil transactions at one time you'd be cleared by u.s. dollars so put a huge pressure to keep the dollar stable in the number one currency in the world this is of course been changed over the recent times as steve benches and i just mentioned you're seeing settlement outside of the u.s. dollar so we'll take the dollar down of the. actually in my view along with so were other things i mean as we said earlier in the segment we could have. inflation we could have a bit liquid depression and of course as an austrian i'm not supposed to say you could have both but you could have a situation where wages are frozen and the prices run away in the cities really harper inflation was just say that the you sensual zlata energy and food doubled in price and their wages stayed the same if that were to occur what would that do the average american you know points so you could freeze wages and let prices go up and i've said in a previous show that if you can allow the fed to manipulate prices you should allow

organized labor because if you don't want to organize labor ok fine but they were the manipulators of the fed right so there's a flywheel there's a counterbalance there now you mention the petro dollar of course that goes back to saudi arabia saudi arabia seems like they're a completely in flux 1st of all they are strong to sell around that big state oil company they are not able to sell it and it seems as though they're desperate to sell it because they got a huge debt problem and that's not happening there got a lot of political shenanigans going on and they're being revealed all kinds of atrocities are being performed by an oversight and overseen by the leadership there and i know that you know politics is something not necessarily what you look at when you look at these markets but. are we at kind of in historically speaking when you talk about date dollars ation are we also maybe at a point d. colobus nation and instead of going with this globalized world economy that we've

been in for since world war 2 where it's back to more of a mercantile list every country for south mentality absolutely i mean on the a rim coo comment there is you don't close the desert bar met simmons joan brings to the forum or perhaps you don't really have the reserves that the u.s. would claim and they are in big trouble for social reasons. back to the other comment absolutely i mean i think trump is just kind of the tip of the spear may be near the tip of the spear is for us back to nationalization though more globalization every country and you see it throughout the world 'd the political class that a lot of these countries are moving more toward you know me 1st or let's get our house in order 1st before we move into the school position situation if at all and it's very important to see the big shift i think is probably the biggest shift that we're seeing on the on. in the world right so matt symonds twilight the desert and talking about peak oil and that was a theme 10 years ago we made

a film about it shortly there after the whole fracking boom took off and you don't hear about pick on oil anymore however 2 things number one fracking is net negative it's cash flow negative it's also energy negative takes more energy goes in that comes out takes more cash that goes in the comes out number one so that's a bust that's not true that's a canard so you get back to the peak oil thing and back to matt simmons book so the saudi oil reserves that galois or fail being the world's largest says the idea that that actually is close to depletion or the cost of getting on extracting is is prohibitive that where are we on that scale of things was a new windows but if you read that has sure you probably read the book putting them in the amount of water that they have to pump in the get this willy film and then take the water out to get back to oil as the minutes so i think we're closer most people think i couldn't agree more thank you very eloquently said about for record i'm not a fan of frank i'm not a fish i'm

a friend of true capitalism which you can fly and rarely but if you are producing the last in every barrel of oil or gas or good of the fracking system that why do you continue. i don't really know the answer was that my cheap money yeah right ok that cheap money is being enabled by repeated action of all the laws of supply and . man decides on capitalism a side of economics it's it's a clipped ocracy driven by a poll 'd a p r o of interest rate setters that make the soviet union blush the old guys are rolling in their graves because they're like it doesn't work ice. could break nearly as well that you do that all your trying to recreate the soviet union in america and wondering why it's not working meanwhile russians are embracing america that i don't have to interrupt you because we're the best cigar heard was you know america is becoming russia and russia has become an american i thought house of st i said that years ago it's 2 ships passing in the night. goodness like eisenhower

essentially and that's the period maps and the u.s. is rapidly falling into a soviet ization so let's talk about gold miners they've had a good year but a bad decade on the cheap here your thoughts on the mining sector ok now back to gold and gold mining yes 1st of all let's wake up because gold's been in a deep slumber for years and years you know we were so all we remember the crash j.p. morgan by silver campaign that's how old we are ok so gold miners what are your thoughts there david morgan or think that they are still cheap or mean barron's does a gold index and i forget exactly what it was before the recent history last couple of years that was were like of some of the year low so if you want to buy low sort of want to buy the miners in this space has a really was a ratio gold so ratio got to like 19 or something oh so now it's contracting somewhat. the silver is undervalued on any basis it is

a real gold was it your you dyed your hair silver just to be more like a silver guru that's natural. does what he thought of the conversation. how do i go how do i dig my way out of that a now so the still goal so ratio is contracting. you know but as we've been pointing out i think this is the case against every other currency in the world gold making new all time highs right against the euro against the end against the repaying the ruble forget about its like. argentina venezuela magnitudes mag multiple times so what's it going to take to get it in dollar terms do we care really this over miners if costs come down through deflation and the currencies collapse that would be like a turbo charged case for the miners because their overhead costs are going to drop . and that their margins are going to skyrocket because the prices of call it's over a going to go up i like that for a bull case is what he said

a lot of good but we also come back to oil i mean it's energy to get the stuff on the ground and if there is a contraction in the oil supply which i think could happen does this fracking thing is going to last a whole long i'm not talking about my lifetime but maybe you know 2 maybe you only 5 years it's hard to forecast the point is you've got to factor that as well but you're correct back so i mean it could have a severe i think it's going to go the other way because across more and more you know it's energy the energy out as kind of how i think of things these days and how much energy does it take to get that out of silver not only on the ground but to refine it and put it in the know best of grid and it takes quite a bit not just for those who miss and 1st our 1st conversation you gifted me this maybe wasn't gifted but it is now been commandeered this point so explain a story that's going to get and some people have a knowledge of the you know money used to mean money used to be in precious metals so what is this again what's a mortgage head dollar mortgage had down to the dollars away to $371.00 greens have

done the one fund sober and it's really point 77 over troy out so you know roughly 3. when else hugo also had a surprise in mexico he's been trying for years to get mexico to go to a silver standard because he has an enormous really brilliant plan to do so how to create a subtly to currency system and to rollover into becoming a silverback currency over time through and as you point out it's quarter in a way and then that is a way to establish a accounting system in that economy that would benefit benefit wildly that mexico's a country seemingly i believe that would benefit from maybe we re architecting the financial system in a way that they can start to cure some of these problems that they're having is going to the silver standard in mexico a good idea as you go sell on his price and we're going to see him in a few months is this correct david morgan of the morgan report the 1st off good are

fairly close and yes it would have a huge benefit i mean if anything was coiled silver timber in the main commodity that's in abundance is your wealth i mean by definition because these are real things needed in the real world and yet someone like rescue of the sometimes number one or 2 silver mine in the tarp plan it is not rewarded for that reliance room capital the propped up exactly they got the number one or 2 silver lining in the world and they're not benefiting from this in mexico exactly this is outrageous david morgan in the morgan report. you know last time we are west we flew to athens during that and the greek financial crisis and we made a presentation to the government about solver as they have similar and they foolishly took on the troika and they went that way and the economy went down the tubes go back to the pyramid i mean the bankers are really at the top of the pyramid they're not going to give up the monopoly to get something for nothing but

a middling lot of forces of the universe again. working people find their work more good for dot com really is it then is. hi fred i think i just morgan report the mortgage market report dot com thanks making the house report back source of pleasure thank you that's going to do it for this edition of the kaiser report with me max kaiser stacy i would like to thank our guest david margan of the morgan report if you like to catch us on twitter it's kaiser report. imagine being 635 and you have a career and career involves using your i phone in your computer and things like that being in an office. perhaps you sort of getting to mix a circular t.v. you could have to stop doing all this i mean this is how you lose the minutes must

be free my world became smaller and smaller and smaller until i ended up winning it and cox. very strong magnetic field held in my head. think of it like a real heart my skin and that wireless access point 6 continues on with our students in the schools. we are just continually baking our citizens in this microwave radiation it is certainly electro small and it's getting worse. time after time corporations repeat the same mantra sustainability it's very important it's accelerating the transition to sustainable transport sustainability . a more equitable and sustainable world. they claim their production is completely harmless.

it. companies want us to feel good about buying their products while the damage is being. far away this is 2nd eldest as he couldn't even and i mean look. used to me doing to me when i'm stunned seemed to be best understood so when. thousands of american men and women choose to serve in their country's military the decision. every thing came to a complete. the day that i was raised to be instructed is you know told to shut up but they kill me and i see how it destroyed low life any screamed at me and he made me come in and you graham my arm and he write me with his birthing curia if you take into account that women don't report because of the extreme retaliation and it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is

a very very traumatizing thing tat happen but i've never seen trauma like i've seen women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished don't be offended by her and almost 10 year career or chose very invested in and i gave that up to report a sex offender who was not even put to justice or put on the registry this is simply an issue of tower and violence male sexual predators for the large part of target whoever is there to prey upon whether that's a man or woman. show it's seemed wrong why don't we all just don't hold. any old belief yet to shape out disdain and become active and engaged with equals betrayal. when something find themselves worlds apart when she's to look for common ground.

up. it's unbelievable what we have claimed and everything. to video shows an a.b.c. news anchor reviewing the network's sat quiet on explosive interviews from 3 years ago detailing the predatory behavior of disgraced u.s. billionaire jeffrey epstein and others involved in sex scandal. u.s. military convoy comes under fire in syria from turkish backed militants we'll look at how the grouping including faction was once fiercely promoted by america has now turned on washington. the latest twist in the impeachment inquiry into u.s. president donald trump the u.s. ambassador to the.