i am asked geyser this is a kaiser report you know in every human d.n.a. is the need to trade travel trade communicate and over the millennia we've all figured out that being transparent being open and having an obvious store of value to trade with is what has kept the species going arc toward what journey and progress oh what does it all mean stacie of course open trade and free trade throughout the millennia has relied on honest money now that we no longer have honest money you prefer a transparent readable knowable sort of entity on the other side of the otherwise dodgy trade deals and fiasco and i turn to this headline here china's top trade

negotiator we want trump to get reelected the mid to endless levitation of stocks with incessant a trade deal is close headlines china's long young to former vice minister of foreign trade and point man during china's 15 year talks to join the w t o told an audience during credit suisse is china investment conference and chen's and that quote we want to be reelected we would be glad to see that happen specifically long explains that the us president's daily twitter posts broadcast his every impulse delight m.p.v. to 67000000 followers around the world making him easy to read and the best choice and an opponent for negotiations donna doesn't want to globalize america doesn't really want to globalize russia doesn't want to do this they don't want me american to lose them they want to trade china wants to trade russia wants to trade trump

wants to trade the enemies of trade are conflict in a war because they love war at the same like the trump opposition parties in america are the one. war party as told to gather as describe them and this is just not the way it works within the human spirit in the human d.n.a. we want to trade and we want to be transparent that's our nature our nature also does get restricted by maff and usually a declining empire does not like globalization so much because they no longer when america is no longer winning back in the late late 1800 and early 1900 of course the united kingdom was a great empire and it started to lose the trade. global trade didn't favor them as much as it was favoring others so i think china definitely wants globalization because they're the rising power they like trumps bluntness whether or not you yourself or anybody in the audience or any voter likes trump or not what i'm saying

is that he keeps tweeting he's signaling not only to his potential voters but also to the chinese negotiators that he's easy to read at the poker table that is global trade is honest and they're used to dealing with this honest politician everywhere around the world and the u.k. of course they decided to get out of the global was ation a while ago but there's their loss i think the bigger economies are moving toward globalization and china and america russia are heading in that direction so let's talk about another dishonesty and that is you know when you have hard currency you have hard money it is honest money they always call it well gold of course has been honest money in the foundation of our global system as well on our global trade system in the world economy as we know it it is however very heavy it's difficult to move unless you own and hold that gold on your own it's not yours and i want to

flash back to this headline from january because it has relevance to a headline this. past week. need in bid to pull $1200000000.00 of gold from u.k. nicolas maduro is embattled venezuelan regime desperate to hold on to the dwindling cash pilot has abroad was stymied in his bid to pull one point $2000000000.00 worth of gold out of the bank of england the bank of england's decision to deny men duros officials withdraw we quest comes after top u.s. officials including secretary of state michael pompei oh and national security advisor john bolton has now gone lobbied there you cape counterparts to help cut off the regime promised over seas assets venezuela wants to trade and they use gold as the obvious and visible historic means to trade the u.k. doesn't want to trade u.k. is where a lot of the war industries headquartered in

a lot of the banks of fund the war industry a quarter so they're empty trade empty free markets and a lot of ways that as well as just loss of trade they just want their goal and to deprive them of their gold using censorship or financial shuns or ship or embargoes and sanction is anti-globalization anti the spirit of humanity regardless of what you think of madeira or his regime or his government or anything like that what we're talking about here is not if you don't hold the private keys that is not your asset if you don't hold your gold that is not your asset so it is part of a deal globalisation where everything there is some sort of diminishing pie going on there isn't. a sort of resent men and a fear in part perhaps an anger about china being larger economy than the us china seemingly winning china's got 5 g. we don't have 5 g. they're moving to 60 they have all sorts of technologies that we don't have there is a sort of anger going on and the dishonesty in the game you're seizing somebody else's

assets but now i want to turn to a headline this week and that's why the mid-air ost. ari is relevant as relevant to an ongoing goal vs between debate that we've been following peter schiff of course says between is fake money it's a ponzi scheme blah blah blah he says gold is the only way to go is the only way to store your wealth well of course the nation state of venezuela had their gold seized that happens on an individual level but here on the nation state level with bitcoin venezuela's president maduro touts trey's or bitcoin wall and national television on november 6th president of venezuela nicolas maduro a parrot on state run television venezuelan television corporation holding a crypto hardware storage device allegedly developed major wallet supplier trace or the video is posted on the official facebook page of president maduro fraser is the lying having any role in this and that these 2 alleged executives from trees or in

this video they said this is not it but the point is here's a nation state this is the 1st we've seen jump up to the nation state level of course president xi recently said block chain they want to have a block chain on their own china but here he's like holding up a tres or wallet and that is very significant self sovereignty peter schiff is confusing bitcoin with money he makes that equation he doesn't understand the big cohen is gold 2.0 which kind of indication doesn't really understand gold either which is ironic but here you have the madeira was holding up a treasure or a wallet and he's saying look this is sovereignty this is individual sovereign say we can put a b1xb $50000000000.00 worth of a store of value currency bitcoin it's a goal to point out and it won't be any censorship the bank of england won't deprive us of trading with the rest of the world they want the privacy of our human rights even though they don't want to and that's where we're heading with bitcoin

is are heading toward a world that is more in keeping with the spirit of humanity to trade it's peaceful remember. trump is a man of peace that's why the deep state hits him you believe that i prop perhaps don't believe it as much but some people will have opposite opinions and that doesn't matter of course a lot of people will say madeira is bad this is bad news for bitcoin they said that when president she said you know into block chain and this is bad for big queen but the fact is the same thing happened early on in the very very early stages of bitcoin suppose she nakamoto himself said it was horrible that wiki leaks was receiving big quite don't let him get involved we don't want to be crushed before we even flourish and because it's always those edge cases of course it's the outlaws it's those being denied and censored that are sometimes horrible maybe not you know maybe even a lot of people don't like that maybe as we see in the u.s. media here a lot of people don't like julian assange

a lot of jew journalists don't support him even though he's being locked up in a cave but here again like the fact is that censorship resistance you censor them we did say this years ago when the u.s. 1st weaponize with that they would start that censorship and that people nation states would move around it in this case he's suggesting because. nothing to worry about in terms of big point in the early days because because it is an idea that is an invention and once invented it cannot be invented like gunpowder before the change the geopolitics profoundly on invent gunpowder you can invent coin and those nations that embrace it are going to be moving the humanity ball forward those nations that are resistant to it are going to be left in the backwater talk about left in the backwater max and i we lived in europe and we saw then we moved here recently in the last few years and we saw the backwater that is the financial

system here here's the head you know the center the power behind the global financial system and their payment system here is so antiquated i. had it i had gone 20 years without writing one single check i write checks day after day after day here it takes days and days for a payment to transfer from one entity to the other well big queen is because of bitcoin because of such as she nakamoto finally the us is actually going to do what most other nations the world already have and that's instant payments f.c.c. commissioner size libra and support of feds real time payment system so of course libra is facebook suggested or a proposed come to a currency which is inspired by of course big coin the libra cryptocurrency project should be sufficient motivation for the federal reserve to launch a real time payment system a senior government official row on thursday federal trade commission commissioner rohit chopra wrote a letter to the fat the us central bank supporting the potential development of the

fed now service the potential high speed payment system the group is now examining about libra he said the vague and scant details on the tax platform proposed shadow global central bank have sounded international norm balance particularly in light of facebook's ongoing scandals a reputation for abuse regardless of libras ultimate fate the proposals emergence underscores the appetite for real time payments and the urgency of intervention by the federal reserve the warning trade the fed was putting a necessary layers of intermediation and the human spirit goes against that wall fight that has been doing that 480-0000 or 200000 years and big coin mouth forces these other players dye their end of a or b. worked around or to be made obsolete so the fed facing obsolescence with big calling has decided to fight the rear guard action and try to create something similar to big going to stay relevant they of course will fail because it's

centralized and because it is decentralized and they will never give up the idea of settling trades using the dollar as a means of settlement and becoming. settling it's auto settling it settles with every transaction it's a complete new paradigm shift into a complete new world that satisfies our d.n.a. our d.n.a. is a block chain it's a biological block big corn is a cryptic block chain and it fills our need to trade it for fills our satisfies our need to be human to communicate to travel get a new way and you will be relegated to the dustbin of history that's the facts that's the way it is we're going to take a break and when we come back much more coming your way. to my hardest to a dashboard to campaign. on

a regular we keep. telling us tell. it had been a bunch of. the conclusions.

yet so we don't know how many of those young they have. too much small percent. still so not just. the west. is rising up some people see it as rising over people see. what's going to happen. i think anyone that says something will is pushing it a bit.

welcome back to the kaiser report i'm asking iser time now to turn to dr michael hudson writer of many books from super imperialism all the way to the latest forgive them their debts an instant classic i might add welcome back thanks for having me max yeah i mean you're an economist but i know you're also on a story in which i love it that you can really put things on a timeline the economics as we've looked at it over history over hundreds of years and then how it changes and morphs and it really gives a fantastic perspective on things and i wanted to pick your brain on something in the last episode professor steve kean says that the u.s. national debt increasing from 22 trillion in february to 23 trillion said day is not a problem do you agree yes because the u.s. has no intention of actually paying the debt may be a problem for other countries that are holding that debt but the united states can

simply print the money to pay the debt and unlike argentina or grace who have to actually borrow money because they can't print their own money the united states of somebody turns on a $100.00 bond can just give it a $100.00 bill so what steve means is the government can just create the money to pay it off just like it's created the 4.6 trillion to a pump end of the stock and bond markets and so obama's bailout. the government really doesn't have that much of a debt problem bets amount of modern monetary theory should money have any intrinsic value no it never did have any intrinsic value and even the value of gold and silver back in the 3rd millennium b.c. was all set by the government. the government by setting a price ratio decide what the price of gold will be in any case the reason gold has

. a value is really for the balance of payments not for domestic spending at all but when countries run a deficit with each other how are you going to settle it and until $17011.00 american went off gold the idea was that a country running a deficit would have to pay with something real like gold but then the united states said wait a minute we've been running a entirely military budget deficit through the fifty's sixty's and seventy's we don't want to pay him gold we want other people to pay us in gold but we're not going to pay him gold we're just going to pay them a government ious and throw them into the world economy and they'll all end up with some troll banks that all all recycle it's just just a recycling excess of course the government setting the value of gold is by weight and of course that way travels universally around the world and can totally bypass any fiann or government application of

a value to it because it's got that weight in weight as universally accepted as having substance but the thing about it when you have all this debt being created historically every once in a while there is it that you believe that seems to square the circle if you well and we haven't had one of those really in significantly for years we had an opportunity for one in 2008 but instead of bailing out those debtors the obama administration decided to pal out the creditors has that ever happened like that in history i'm sure has when it is happened like that and wasn't that a colossal mistake it certainly was a colossal mistake because many of the bad loans were fraudulent real estate loans there were loans far in excess of the borrower his ability to repay the loan and in excess of the value of the property so the banks who made these fraudulent bad loans should have had to absorb the loss and. baer who is the head of the f.d.a.

i see said the worst offender was citibank she said it was crookedly run it was incompetently run and she said here we had a chance to take it over wipe out the the bad stockholders and she was stuck by a one obama said i'm letting. tim geithner tell me what to do because he represents my donor class and the people who are funding mace and geithner work for rubin who taken over a citibank and themselves had a relation reason prize when the justice department of justice recently declared jamie diamond guilty of racketeering for a price fixing and manipulation in the gold market that's exactly what. chase was doing i had to say that about the bank that i used to work for but they wouldn't have done that 60 years ago when i was there they did aside from the gold market aren't they behaving in the same predatory cartel behavior emaar all markets

futures markets capital markets bond futures stocks currencies it's across the board this is authentic yes the large banks in the united states have done that just like they fixed the. london interbank borrowing rate that set everybody then trust rates that was all martin or you know bank of england was implicated in that and in the u.k. they said well because this is systemic only in part we're not going to prosecute mark and they say it's rich people are systemically important you can only prosecute non rich people but the rich person the systemically important because they're the campaign contributors they're the people who run the party so of course there's a stomach we important there the oligarchy let's talk about some of the internal machinations of these markets because unlike a lot of economists you've actually worked at a bank you mentioned chase there's been a lot of activity in what's called the repo market yemenite lending rate which is kind of the bank to bank lending rate and it's deep down in the bowels of the financial system it seems to be flashing distress right. they're high because

there's a lot of trust that's absent now and we've seen this in 2008 crisis we've seen it in previous crises is there a crisis going on what's going on this report mark i want to tell us if anything the crisis is really a huge amount of debt pyramiding of leverage ing and people have tried to make huge bets on derivatives and on the stocks and bonds with very little of their own money so all you need is for one bank to make a mistake or somebody to embezzle like happens about every 10 years offended says we're going to put 12130140 1000000000 into this overnight market isn't that the same thing as quantitative easing except on the short and ok. yes it's the same thing it is creating money simply on a balance by paper you create a debt and the debt on one side is an asset somebody else's asset on the other side and when you've got all these assets and debts mounting up somebody camp a at a point because they've made a wrong bet and there's a sudden drop in a bond or

a drop in a price of gold or a drop in the share price and hope they've lost a lot of money that's not a valid like the london whale from chase bank went to the whale made a big bet that was quote unauthorized and that's an example of something that could have triggered a meltdown so it's another bailout yes and it's quantitative easing for q.e. 4 it's a parrot let's call it a permanent bailout ok if it's a permanent bailout and we were told that q.e. was temporary if it's not sound the actual economic term for that would be debt monetization is temporary is 50 years. temporary mean we're not we're not putting an end point on it but it's not separate it's debt monetization you don't have an heiress and menagerie public and that we criticize them for printing and then buying back their own paper it's exactly what we're doing in america correct am i wrong when america does that it's not

a crime to paraphrase president nixon all right fair enough so you're about to head to china what are you doing there oh basically discussing the real estate question i think that what i'd like trying to do what is the realistic question well there's a lot of people who've been borrowing who bid up the price of houses and they've been borrowing from like payday lenders the big banks in china will make loans to small. payday lenders are lending organizations and they've advanced money because every people in china think property prices will go up how do you stop the property prices from going up a simple way and it's the way that hong kong originally did things u.k. you make a tax on the land value and. if you tax away any of the increase in the land value which is really what the what is creating the price of the property then you're going to stabilize prices you know the federal reserve bank minus standing when it was created would be the lender of last resort and to be proactive in helping to keep the connally from going through these booms and busts by justing monetary

policy but greenspan said that actually they don't do that anymore they wait for the crisis then they react and their reaction is always to make more money easily available so that seems like a repudiation of any idea of a central bank whatsoever that seems like all they do is put money into the pockets of these oligarchs you're talking about but let me just move on about china for a 2nd there's a trade war trump talks about constantly so the question is is it going to be is are going to be a trade war do we care if there's a trade war the latest breakthrough is real who's winning this trade war is it the right thing for trump to do is this going to make america great again what tell us about this trade war that's going on isn't happening who's winning what's happening well as you can tell from the stock market going up and down every day and gyrating people are trying to guess what's going to happen from the trade war. what has happened already is once you start a war the world can never be the same again in the sense of people expecting there

can never be a war so china's already realized like other countries have they have to decouple from the u.s. economy they don't ever want us to say we're going to use an asymmetrical warfare against you we're going to all of a sudden not give you access to our technology we're going to let you plug into our banking center same thing is de globalization is it did dollars a.c.f that the dollar is asian and the globalization is china therefore is that why they're buying so much gold. they're buying gold because they have a lot of. balance of payment for plus they don't want to buy u.s. treasury bonds right and have the u.s. treasury say ok we're not going to pay you any of the money that we owe you. there's a sign that they're buying so much gold hundreds of tons now what else are they going to buy they're not going to buy euros because the euro is probably going down to one euro per dollar they're not going to buy any more of the russian currency which they do to try and. finance their own trades 00 to something that like over

the last 2000 years if you get something that the whole world can agree upon what do you use nobody's a great on anything except gold so you already have these thousands of years of backing i mean asia used to like so over and at a certain point i can imagine china bikes over there they were on a silver standard for a while one thing that's right but they're also marrying this idea of gold block chain ok and they state that their block chain interests are there to skirt u.s. dollar based settlements system number one to avoid u.s. censorship in swift and other areas number 2 they have identified block chain as a way to do an end run around u.s. dollar gemini around everything clearing through the new york fed so i don't know how much work you've done on block chain but our i understand i think you would agree that their intention is worthwhile because they need to escape from being under the yoke of that u.s. imperial system your own super imperialism but i mean look to block change in

a good avenue for them to succeed in their endeavor if they're pursuing it obviously they think that it's a good avenue and anything that they can do to prevent the us ability to separate the is really a protection against us sabotage in the us like it's been sabotaging the iranian system china looks at what america is doing to a ram and no country has ever interfered like the united states is doing with a. ren and what trump is doing to iran is and being up red flags over the whole world saying you've got we're going to be next the united states is going to smash us if we don't agree with them and so trump is just driving any other country n.c.o. shanghai cooperation organization china goes on this path they bring russia and iran with them is that enough of an new balancing of global economy to shift the axis of. daal of currency power out of the us. it won't be shift it will

leave the united states with its satellites in europe and latin america but china will be. its own asia will have its own block dr michael hunter thanks for being on the cause report good to be here and i'm not going to do it for this edition of the kaiser report with me nice guys or as they see her we want to thank our guest dr michael anthony funny conscious on twitter guys reports and i'm biased. your government and our government and all the other major governments of the world know what's going to happen and when it's going. but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth. is

going to cause tidal waves or earthquakes volcanoes are going to wrapped and it's going to chill. so very for a while right. my great grandfather's quote. nobody would care about the law or prison so you'd have wallace this should have. a terrible life between the and the. coop .

steps up security measures a. protest movement marks its 1st anniversary. supporters of ousted president reportedly killed in clashes with police. from hearing. how americans and using interesting.