are a private corporation in the business of providing a utility electricity and whenever they get in trouble they just declare bankruptcy so it's an asymmetric warfare going on they extract wealth and when they get caught doing bad stuff they simply so we're going to go bankrupt and as a result you've got these enormous wildfires burning you've got the economy in danger you've got people's lives in danger because as private corporations they know how to game the system in a way to absolve them from any responsibility and to not pay for what are called in economics the externalities of their business model it till he should not be in private hands transportation should not be in private hands education and medical health services should not be in private hands for this reason because you've got gouging and monopolization in the private sector it's not appropriate for these basic or utilities of the economy our corporate structure today is one of private

equity it extracts that equity and it leaves a carcass of debt that is indeed what you see here but the other thing you see especially in california is the woke progressives have basically enabled the tax regime whereby they always win so in california the property taxes for those who have ben there you know for the past 1020 years are extremely low and they're not they've passed laws long ago where they you're not allowed to raise taxes so the cost of maintaining the infrastructure in regard to the utilities they don't have enough taxes anyway to cover the maintenance on it and so it is the corporations it is the government and it is the taxpayers across the united states who have helped hollow 'd out the infrastructure that was provided and paid for by previous generate the previous generation and i'm going to talk about this because there is an actual word for it. and that is called technical debt the toxic bubble

of technical debt threatening america climate change will soon expose a crippling problem embedded in the nation's infrastructure in fire ravaged california and already has a kind of toxic debt is embedded in much of the infrastructure that america built during the 20th century for decades corporate executives as well as city county state and federal officials not to mention voters have decided against doing the routine maintenance and deeper upgrades to ensure that electrical systems roads bridges down and other infrastructure can function properly under a range of conditions kicking the can down the road like this is often seen as the profit maximizing or politically expedient option but it's really borrowing against the future without putting that debt on the books deferred obligation or deferred that i guess the other word for technical debt so if you're not willing to maintain the infrastructure and it's eroding underneath the surface you know you have this

potemkin village of an economy going on in california but behind the facade is a decaying decrepid technical debt amassing problem and in the case of p.g. and e. it's obviously falling apart and when it does it causes these enormous wildfires but nobody wants to look at the wildfires and say the obvious number one taxes are being misused they're not being adequately distributed to where they are needed on the infrastructure side because there's a government failure number 2 climate change regardless of whether you believe it's happening or not the damage that is going to be applied to your pocketbook that you will pay for climate change whether you believe it or not you know it's still the price is still there regardless of your orthodoxy it's still going to cost you money and p.g. and e. is a perfect example of this. i hope those who are climate change deniers are on

the front lines are battling with the buckets of water saying oh it's not happening oh my house is on fire yes there is climate change yes there is global warming yes they do have bigger droughts and longer droughts but on the other hand we as a society refuse to plan we do not believe in plans because that is socialism here so we do not plan for when you're building all these suburbs how do you deal with the fire risk that is inherent to the climate of california so how do you deal with all that brush fire risk that used for hundreds and thousands of years of native americans living there like what they used to do is let the fires burn and that helps you know with the nutrients in the soil and it helps keep the forests safe and robust now we don't have we're not allowed to plan for the fact that these huge subdivisions and suburbs are developing nobody is allowed to talk about what to do

with the fire and of course nobody wants even the tiniest the fire to burn even though it will save everybody because they themselves don't want that fire near their house right well a cube or a stright i mean people in california they're being gifted hundreds of billions of dollars from the central bank for for free and they make superhero movies all day and they believe that they're inflammable that fire doesn't touch them that they are immortal and that only mere mortals are being affected by fire infrastructure i think you know what we're going to see are more of these enron type situations where companies vaporize it a matter of hours i think we're going to see that with. camile like roberts a charm member that in orange county the whole pension system vaporized in a matter of hours this will be the case more and more and at the same time there will be a greater and greater reliance on believing in the supernatural as the cause of the

problems and not the fact that it's just greed and hubris it's not just the corporations it is definitely not just them every single individual is acting like that every individual went to the voting booth and they decided not to allocate any fund that sees california has one of the highest rates of of their budget go towards prisons they have huge vast prison industrial complex there they spend a fortune on their prisoners there is something like 506-0000 some locations across 300000 dollars a year to incarcerate some of their inmates so you know they're willing to allocate money for that these are the sort of choices that are going to happen when these technical debts come to light people are going to say do you feel safe. isolation or community. are you going the right way or are you being.

what is true what is right. in the world corrupted you need to descend. to join us in the death. or inmate in the shallows. what holds and. he put themselves on the line they did accept the reject. so when you in the present. want to. have to go right to proceed this is what before 3 of the people. i've been interested always in the waters of our. quest to. confirm from. some of. the

from. welcome back to the kaiser report imax guys are time now to go to a very very special guest joe it's the lead today from trans research dot com gerald welcome back well thanks for having me it's good to be back so kingston i mean aside from being a fashion plate from kingston new york and the kingston chic look i know it's sweeping the globe internationally accepted now as really the sheik as style in town kingston there's like a lot of kingston it's also about the community there you've got a local currency radical decentralized health care cooperatives local radio agriculture what's going on vacation this is exciting stuff yeah you know it's the 1st capital of new york state in the sieges democracy was sown there so it still has the elements of freedom and it's to most historic 4 corners in america you were

there you and stacey and you see the beauty of it and it's disk rediscovered now so the way this is being talked about is like they're getting ready for a collapse and us are receding and they just get in there of their own farming their own currency their own everything is becoming like a self-sufficient self-sufficient no that they're getting ready for the collapse because a lot of rich people who come here go there and they're really building the place up but it's a place where you can express your own ideals and beliefs without anybody telling you what you should believe so there's that is that mutual respect that everyone up there has for each other rather than one rule gorgeous up there we've been up there will probably visit again an excellent french restaurant up there was a time without a law cannot should a law say for my doublet ok so let's talk about america california blackouts almost as medieval diseases are coming back in california haven't seen these diseases sense the middle ages what is going on the trend as you might say not looking good

what's happening in the world on fire not only in california indonesia or amazon not only those fires look at what's going on in. chile how about bolivia you've been down to colombia lately let's go to ecuador maybe algeria no lebannon how about iraq hey hong kong maybe spain the people have had it when people lose everything and have nothing left to lose they lose it and they're losing it whether they're losing their freedom losing their money and so with belial as the world is on fire in my life i've never seen anything like this before and it's again the protests are also against the one percent because that's all this monetary methadone that's essential banks are shoved into the system it's only kept the ball running everybody else has gone down and so that's what you're seeing going on the world is on fire physically emotionally and spiritually right you know

we call it the global insurrection against banker occupation going back to 2008 when we had occupy wall street the protests started to percolate but there was a direct focus on wall street and the financier's and the money folks and the banks it seems like the protesters around the world are starting to understand that their common enemy are the central banks around the world that are just printing money for the one percent or the 110th of one percent and they leave everyone else behind i caught our see what you think about this phrase interest rate apartheid if you're a friend of the bankers you get unlimited money and 0 percent or less if you're not a friend of the bankers you have to pay 16 percent 18 percent or at a payday lender 2003000 percent annualized rates of return is is that a common theme for these protests around the world connect those dots or am i missing something oh you've made it perfectly clear you know i just become or are plantation workers on the multinational plantation of slave land dia because that's

what globalization has done it's concentrated the wealth all the equity markets are going up you mention about all the cheap money coming in what they do with that cheap money all the. to buy back their stocks of buy up other companies when we were young guys there were no hedge funds and private equity groups everything and that's all the people are there their plantation workers on slave land and it's better than the old plantation system because we don't have to feed you we don't have to how you just give you enough money get that kid tomorrow and go get something to eat we'll see you in a couple hours yet seems like when workers at general motors are lobbying or protesting for more wages their position and they are characterized as. greats and parasites on this economy but when jamie diamond is a stand or james kramer is throwing a hissy fit in a crybaby as he did to get the fed to print more money he's lauded as a hero as

a as a man of the people by by his antics to have more money printed. you know there is a real disconnect between labor and the financier's there's 3 half trillion dollars collected in taxes last year all inclusive in america. it only pay for $3.00 quarters of the operating budget of america we want to trillion dollars into debt but in fact that money is not even needed i make the comparison to saudi arabia and the reason we have a slave class of saudi arabia is because the princes when they need more they just print they just pump more oil this oligarchic class when they need more money they just print more money they don't need the workers they don't need even that 3 and a half trillion dollars their workers are completely suppressed that's why so many of them are deaf according on the street and dying and the life expectancy in america is is gone down is that a fair characterization yet is then again you mention the general motives let's not get general motors was too big to fail let's give them money and let's make sure

this c.e.o. makes you know tens of millions of dollars a year and we're going to limit the amount of money that the new workers could make and again don't call this capitalism people complaining that you know we may turn it's a socialist country this isn't capitalism anymore there's no such thing in capitalism is too big to fail and you mention the homeless crisis this is just the beginning of it this to going to explode there's going to be homeless everywhere again people are flooding out of south america flooding out of africa flooding out of the middle east poverty violence corruption no future wars the homeless problem is going to be added control in a city and a country near you the same with detroit baltimore new york san francisco l.a. they're streaming from the locals from americans that they're not needed my point is workers are not needed medical or not if you can print money why would you bother feeding some propriety that you could just as easily put them in prison and make money from the prison industrial complex right speaking of prisoners jamie

diamond after you and i've been talking about this for years you know that they've been involved in racketeering and market rigging in the precious metals markets and we said you know this is should be prosecuted under rico the anti racketeering law fine. really that the problem of justice is going after jamie for racketeering has been proven that he was manipulating prices as we've been saying for years now where is this going to go the same place where it went when what was it 6 major banks were convicted of fraud remember that guy over the obama administration eric holder there were too big to jail but you make sure that you don't go over the speed limit 6 miles an hour where you didn't have your signal light on where you come from you have a drink get out of the car stand on your head repeat the alphabet backwards that's why you see new revolutions going on around the world because the big 0 getting a free ride while everybody else gets tied up and brought down well is fargo caught stealing money from thousands and thousands of customer accounts warren buffett

biggest shareholder and yet that was positioned also as a heroic act of capitalism will allow this larceny to go on unchecked so that's where it's going to go with j.b. dying no will be made fed chairman he'll be made the treasury secretary it could be president i stace is such a big a larcenous ticks scum he could be president of the united states that's the track he's on that's what will you have to also be a pathological liar to be president of any country. so maybe he could fit that very well i can see it now now in the finance markets you know they do have some areas that are out of the direct control of the kleptocrats and that would be in the repo market you know the short term money market for the banks and that has flashing distress like we haven't we didn't see it as bad in 2008 it wasn't as bad in 1929 or 1921 and never actually seen this short term credit market between banks as distressed and signaling as big

a problem as we do right now why is that if everything if the stock market's making new all time highs and apple's making new all time highs how come the repo markets flashing the prob these problems they're only pumping in $120000000000.00 a day. into that yeah and they also just know there's $60000000000.00 a month in what we're not going to call the quantitative easing will make up another name for it because they need the money to keep the addiction going look at the debt levels around the world of corporations and governments so they need this money to keep the gambling game going that's all it's about to us remember when james cramer at sam b.c. was threw a hissy fit to get the fed to print more money back in 2008 during the credit freeze some point to school on that because he twitter daily starts his crybaby rooting for jay power jerome powell the print more and cut rates more to keep this

ponzi scheme going is it it's kind of embarrassing to see the president though throw a hissy fit like a chihuahua at the ball of you know the some. paris hilton is chihuahua here massive paris hilton chihuahua in the bag keeping kerry around the app and for a snack it's like any more money any more money it's been around for a while i've been around for a while is that kind of embarrassing to see the president beg like this well he's in the real estate business if he knows if rich's rates go up his business goes down as the presidential reality show he's only interested in getting reelected and then what what the general consensus is now is that the federal reserve is not going to raise interest rates again this year and probably not next year we're saying that by the next a year from now a year from november you're going to see interest rates in the united states it's 0 or negative he has the pressure to do it and he's going to keep putting pressure on them and i believe they're going to do it because it's the only thing that's

keeping the global economies up or interest rates going it's a negative 0 interest rate policy and you know you you're a great guy max keiser i got to study a pawn for you and i want you to buy it in 30 years when you care shouldn't because you're such a great guy i may give you less than what you paid for. to quote negative eels so is he is this a freak show with trump it's a freak show everywhere the global friction yeah you know you mention negative interest rates and this is truly an anomaly in the history of finance there's never been negative economics ever since you know going back to the bronze age you never find negative interest rates and it implies that time has not value but time has negative value all of finance is based on it having an interest rate let's say the 10 year bond everything is based on what is my interest on this investment going forward and then that's how i compare one investment to another is based on the implied rate of return if money itself has

a negative rate of return than actually nothing has a value and does this mean goldman sachs has figured out how to go backwards in time and steal money from people in the past. the good question and by the way this is why gold prices are going to keep going up yes tell us yeah because it was cheap money that they're printing up oh how about in switzerland might is 075 percent interest rate a negative 0.75 percent interest rate and they're say they're going to keep going longer so now what happens to the average person when you put your money how do you get savings you don't and that's why they keep forcing you to try to go into the equity markets but it's not confiscation now the reason i say it is a $1000000.00 into the bank and they take $77.00 quarter 3 quarters of a percentage point negative rate and then they give it to their guy speculator in the property market aren't they confiscating from a to give it to their client in the mortgage market where you or you are is the

worker that multinational plantation of slave land use of course that slave land the i love it i don't want to go there though stick around for the segment actually on this one johnson want to thank you i'm not going to do it for this edition of the kaiser report with me max kaiser and stays here but i want to thank you. i guess gerald so let there the trends journal if you want to catch us on twitter at kaiser. i put themselves on the line to get accepted or rejected. so when you want to be president and. want to. have to go to the pros this is what before 3 of the more people. interested always in the waters in the.

first. thousands of american men and women choose to serve in the country's military the decision. every song came to a complete. the day that i was right. you know told to shut up they'd kill me and i see how it destroyed my life many screamed at me and he made me come in and he grabbed 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 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 them the offender and almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the 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. to modify. as to where dash was taken but it. was in the name of the bin. laden ricky. the same kind of issue because he must not tell if the c.i. to make us tell us if they survive has suddenly been my model but it has been a bunch who. sent.

the monkey to move the whole thing as opposed to the final thing with the quote this is you got to send them. all just so you don't get off the young man who's young they have. deiced so much smoke the soup he chews still so not to sin and. we simply couldn't see. him he celebrates 13 years since the fall of the berlin wall we look at just how

united the country really is also the come. not from the court of the hague convicts a congolese rebel commander of atrocities but it read nice concern the i.c.c. only conflicts war criminals. the charges against him are politically motivated.