last $30.00 didn't cost anything then used to be going back even 20 years he'd have to pay $5.00 or 6 percent in interest to take on a bunch of debt now to 0 in back in the u.k. recently they had interest rates at a 300 year low price so there's no cost for that if you don't have to pay for it in the just get it for free get a bunch of money deliver your office for free and you can go buy tiffany's with it or if you go buy a big production utility with it that's guaranteed income or by huge corporation with it. well there used to be a cost to debt which is why we did not incur any debt which is why we could not as a nation and that's why the g.d.p. stay flat along with the flat levels of debt baby boomers were born in 1946 s. the 1st of them the debt started to rise g.d.p. also started to rise nominally with it $971.00 of course when the 1st of them or what $2223.00 we went off the gold standard because the cost of debt was real we

had to send several tons of gold to $300000.00 worth at the time to france when they showed up with their naval ship in the new york harbor so there was a cost to it then they got to unhinge it and they of course it was a magic trick right but the boomers have a mentality that they are somehow. in daoud with amazing ability and entrepreneur and wonderful talent and wealth creation when we see the magic trick they were nothing special they were not unique the only thing unique about them is they had no alleged cost to their debt but now we have a new generation who wants a similar trick done for them entering the workforce and there is no trick you know we've we're trying things like quantitative easing a negative interest rates we had never been tried in 5000 years and that's not doing the trick yet you know if i'm right and i think anyone richard nixon couldn't

afford the war anymore because he had to pay in gold for the money he was borrowing so he cut us off from the gold standard then you entered a world of purely for myself you have money refers other feet of money it's a bit regress right there all the yen the euro the dollar they all refer to each other and they're all going deeper and deeper into debt so there's no basic there or there there's no stairs no way to measure the debt against something that is good because that are money remember j.p. morgan said only gold is money everything else is credit or debt ok so without that there is no way to measure the debt and there's no at the moment you know my my view is that this is leading to feudalism or you have just a few private equity firms owning 98 percent of all the assets of everyone else's living service on that we're getting back to the dark ages and in my view so we're going to look at a few other stories to suggest yes there is the top 0 point one percent that you

talk about but within that structure is allowed because the boomers got in 1st on this ponzi scheme we have a global ponzi scheme in the boomers were lucky enough to be right there when it started so we're going to show you how they benefited most versus generation x. my generation which came after them and now millennial are doing even worse z. forget them right fraction of us wealth owned by boomers and gen. narration exercise when the average member of each was aged $35.00 boomers and 1989 they owned 21 percent of us wealth generation x. in 2008 when they turned 358 percent so dropped by over 50 percent the average millennial turns 35 in 2023 right now they own just 3 percent so it's dropping by 50 percent because the early members of that ponzi scheme have to be fed and there's less and less wealth to share with the bottom the old days

when the top 110th of one percent took all the power and money they would put everyone else into ghettos or they would put them on to service or indentured servants or sharecropper successor here in the modern age of 21st century this is and this is engineering using interest rates so the millennial. the gen x. people they cannot borrow money at 0 percent they have to borrow money if you know on a credit card 151617 percent or they go to a payday loan which is a annualized rate of return in 2003000 percent right so they that's the that's the ghetto of the 21st century is you're borrowing costs that are high so you live in a in a what i call interest rate apartheid you live in a bantustan of high interest rates and you're never ever going to get out of that because the policy is a is interest rate apartheid that's the policies that i know economics and how does that happen how does your credit rating happen how are you redid your social credit

score essentially well it's by how much debt you have compared to your income so the boomers they were born right after world war 2 we had no debt here our economy the g.i. bill like finance everybody's free education all everybody was educate the suburbs were built like you know these are. basically government plans helping to build and facilitate these structures then now the generation x. y. they don't have a home by. 35 years old it's because they have all that student debt so they have a lower credit rating just they're born subprime they're born with that so therefore their rating their credit rating is lower meaning their interest rate is higher than what a boomer can because a boomer got in 1st on this pyramid scheme of a economy and they have more equity than anybody below them so it's just is this natural anybody in 1st in a pyramid scheme has more equity they're getting a bigger income stream from those coming in the response from the left. is

to go after the billionaires and say we need to raise our taxes and the billionaires because they have all the power will resist and i can see that happen but what they should do you know i give them the recipe now to increase their power is that they need to get a seat at the federal reserve bank they need to get majority on the fed and they need to raise rates. to restore equilibrium that's how they will get a piece of the pie when when donald trump says the fed needs to lower rates or go negative that should be the tip off that's the vulnerability that's his weak spot to put it in terms that the millennial understand pretend this is star wars and the death star has a weak spot and luke has to fly in and hit that exactly expired to blow up the death star ok so the weak spot for the death star that is the federal reserve control global economy is interest rates if you can control seats on the federal

reserve board or the federal open market committee and get rates to go up then trump collapses the republicans collapse the concentration of wealth collapses the wealth and income gap is restored to normality and you have agency once again of this economy that is the only if that's the only spot you can try to hit there and hit their hit there and you can look great doing it but that is going to be ineffectual well here's another. way and the wall street journal in fact is suggesting it's because i'm curious because you know the top one percent own all the stock market that helps their wealth on paper look enormous the average boomer why they're ahead of the in that discrepancy in the wealth is almost entirely down to homes house prices they were 1st in on this house price boom member when they were 1st entering the market they had to put 20 percent down now it's down to one percent or 2 percent that you have to put down in order to leverage up and keep

those high prices on homes so that the ordinary boomer feels wealthy well the wall street journal points out boomers are about to flood the market with homes will anyone want to buy them the headline of their actual article reads ok boomer who is going to buy your 21000000 homes baby boomers are getting ready to sell one quarter of america's homes over the next 2 decades the problem is many of these properties are in places that millennial don't want to live so you know this is a power you're they're forced sellers you're the unwilling buyer just don't buy don't buy from them and there that that ponzi scheme collapses this is the thing about pyramid schemes about ponzi schemes let's call it a pyramid scheme in this case it's just own was accidental it became accidental 'd and now it's intentional to try to keep it afloat well they have been occurring on wall street my minute response would be

a choir all these distressed properties by the millions and package them. and offering that would get congress to pass a law that would enable this to be sold off as a tax write off right so you're converting bloss as a tax write offs and you're going to give the top 110th of one percent away to shelter income remember during the resolution trust corporation when the s. and l. market blew up the wall street got congress to pass. because all the bad banks and sell them to people like ron perlman and carl icahn and others as tax write offs and they didn't pay taxes for 2030 years and they made another few $1000000000.00 so i'm not i mean ok i'm not sure i mean really i figured out a way to make money on that the way that would kill it is if interest rates were higher and you could you raised my cost of borrowing now suddenly my net worth has to be marked down because it's all based on mine it's all based on having access to capital at 0 cost that's the problem is house prices and bubbles can only sustain

itself if people can keep on rolling over the debt we've been rolling over the debt since night you know that interest rates have been a lower and lower and lower since the boomers were 35 right now since then interest rates have been going down now we get them retiring from this pyramid scheme and interest rates are already near 0 so the problem is how how can we get the pyramid to continue for that of the 20 years when they dump these 21000000 homes tell us in wages and open up with a global no blame or be able to expand the debt in order to keep their prices that they have in their head for their of course you can expand the debt well ok let's see that you know i think what has it not been ever extended this like 23 year a boomer is the audience know how ideas is going to say ok boomer that's what you relied on for your entire life i don't give you the recipe to fight back millennial jonesy you know but you're not going to do it because you want to be like me are

you going to take a break when we come back lots more coming your way. my feeling with this world is what now is more so come. here for this certain generation that's controlling all the politics around the world so when that generation dies all. children that are brought off the smooth really are less materialistic don't really care about these things concrete even more automobiles want to live by the side job want to ride a bicycle this movement it's global and it's going the world is going to has to go this direction and it's going to change. ok i'm a special kid somebody who can benefit so is one of the men of the. book to get us to the gulf where. you thought the whole doping can russia think was over for get

it. through a competitive pressure with a mostly of some of the models a little. russian outlets eligibility for the international competition says that stake this includes events like the tokyo olympics and the fee for world cup and qatar if i am in the early as last. year when you come out of the just as it was 4 years ago in moscow anti-doping plavix at the center of the scandal so who tampered with the doping samples database and one does greegor you want to give have to do with it and you know she's doing it because we've got to pull zameen you know. about the little spots will not use the push on the richest club you ship by to expose me in the ocean touch a little devils so the pollution you're doing is noble.

and. welcome back to the kaiser report i'm max keiser time matter return to our conversation with ross ask rafi's the director of the 4 horsemen torney 12 he's also got his own show out there renegade anchor and a it's a must must must must see feeling if you're interested in this shell you love that show ross welcome back to max good to see you ross heading into 2020 or leaving 2019 ers ending with us stock markets at all time highs for political office highs across the world are these 2 connected what what are some of your thoughts heading into 2020 everything's fine max. may go as investment decisions it's never been better because that's exactly the my room when you don't you don't go

like everybody else mouth and buy into this mania is sort of if you're shoeshine boy moment when you know the shoeshine boy so it's your bow which silky well whether he's got whether it's longer or no so i think that we're in the most precarious position and i think this euphoria is a mosque and i think people should be very very careful over 2020 because so many are saying it's going to be the year of reckoning they hear of reckoning although i sounds a dramatic so let's break it down they have a specific points that we should be looking ahead for 2020 some predictions some some in science are off i think the 1st thing to say is that 202-021-2020 will be the year is looked back on when people realise the mainstream media at last has lost all its trust specifically as asians at the b.b.c. they were recently cool and seeing footage to sort of brush the people that they

think they should be presenting it will close its way. the public on cheap and social media. blow this out there who are really watching really catholic and not being manipulated by these big media but he will say any more all right so tight sorry we're going to say man same it finally gets come up and even though they have worked doggedly platform so many independent media splash sources out there we've seen a lot of big names get the platform no longer in the media landscape but the same that's going to save mainstream media because their fascist collusion with their own racketeers on wall street and the kleptocrats of a political center as it is is on on tenable by the small ideal and this generation is e who have come up with this new me new catchphrase call of no paper were ok i sell

a book or story video at our being slandered by the by these youngsters look at what's 'd happened look at the intergenerational story that's going on so you and if you think about it the b.b.c. the average age of the b.b.c. won't here is about 58 average age of b.b.c. to the u.k. $66.00 the mainstream media got a massive problems and the new independent media shows like yours really aiding and others telling our reason the viewing figures are all going in the right direction is because we're actually reflecting what people are feeling in their lives we're not telling people which is what the m.s.m. the mainstream media do all the time they're very didactic they tell you how to think what you should be thinking we should be looking out what you shouldn't and that when you go screens now in the world people will go and seek out the veracity of each story and make their own mind up and i can only be a good thing for democracy and societies as a whole so i think keep mainstream media with us or to segues into something else

and segues into the sort of prolonged to kind of occasion of the west so that's another prediction i just think that the stagnation. it's just going to continue and grind on and all in all i think it was shiller one of the german royce who said you know man can survive anything but a succession of days and that's basically what we're going to see over the next couple of decades because as you can see now this ongoing stimulus that doesn't have an effect on the real economy is laboring under massive amounts of private debt so my 2nd prediction is only going to kind of situation. across the developed worst yeah what about the bond vigilantes remember them they are still to sell the bond market off when the inflationary pressures are starting to rear their ugly head and inflation has been outlawed thank effectively because the central banks have an infinite budget to buy all the bonds that they need to for eternity to keep

interest rates low to to kill the bond vigilantes to make it a shangri-la a la de da make an economic environment where wages the ever go up at stock prices never go down and i don't see any reason why that can't continue in 2020 because the balance sheets of the central banks they're there at roughly have a say in the numbers in the last few weeks but let's call 50 trillion dollars they could easily go to $200.00 trillion dollars ross why why why not just as logically and that every central bank basically owns everything right and only jump in 1st 2nd ross because in my view that's exactly the end game it's called taking the world private wall street with the help of 0 percent interest rates are taking all these companies private all these big deals all these big mergers you know i say feel the packers are going to be hostile raided by xerox tiffany being bought by l.v. and european luxury goods it's all going private ross that's where it ends and the

dow 07000 so what does it really be out sooner and through everybody in the federal reserve and runs the world from the feudal feudalism male. feudalism do you think that the public having been smashed to pieces decades certainly austerity in this country do you think the public are going to say yes because the public has been proven time and time again to be easily pandava with key programming and and cheap calories with cheap food and they have no a but ok that made it seems as though 2 the the public is is stupid but i do see some bright spots with like elon musk and jack dorsey combining forces to come up with new technology a new emphasis on dig dig lobel ization the dollar is asia and they're trying to rework recreate the world by making everyone individually sovereign and using technology and solar panels and things like that but if that doesn't take off i

just see a return to the dark ages and saw him there anything after everything from the enlightenment going forward would be just a bad dream we're back to feudalism and and serfs and kings i mean the public what defense is a public have what how are they going to fight that the 1st things 1st the longest the so those windows are on the truck right so he's busy and jack dorsey says so all that shiny new shiny bunning out on twitter so the 1st 2 things that need addressing this are flora's certain equality it's really interesting what's happening in the u.k. when you talk about serialism because n n if you heard about it there's a guy called prince andrew. and that's not a prediction that's when he 20 i think he's going to start sweating again and if you when you when when system starts you can look you know people make really big errors he's made one recently and really it's made what is ordinarily a very very proud and pro-military country really question the structures that we

live under and i don't see this economic conditions deteriorate and get worse i don't see that questioning and not dissent. going away however much the mainstream media china russia so i'm probably a little more hopeful and i think that you need this level of creative destruction and economic crumbling if you like before the green shoots can come through but i do hate you about the monopoly effect that the central bankers have you know sonny with the money supply and also the terrible terrible political decisions that we are all enjoying at the moment but i don't think the public will take it for a what about global that table a you know that's a that's a big yeah interesting set of what is what are your thoughts on that i mean we've just been interviewing andrew ross and he wrote credit okra say now the embers of occupy are still burning they're still glowing and when you realize that sent many

so many students in america are so indebted that actually they can't answer in syria the norms of the economy norms of society you realize that you're going to have to strike all that debt so for a global debt jubilate yes we need to get rid of all the private debt but when it's a start and bernie sanders is very good own nest once a star is a student debt jubilate because if you want your future and if you don't want your kind of the cation of america which you're getting at the moment and you know what that leads to intergenerational mortgages which is more debt more private debt bigger juiced asset prices i'm all going to says for people like jamie dimon if you don't want not what are you going to have to do is get rid of all that debt and i tellee the way to do it is firstly cancel it and secondly if you're going to use corporates are going to be using students that are coming out of those universities increase all the taxes on those guys and use that sax dollars to pay for students

in the 6 day status is to burn their draft cards like washington state in some 21st century burning their student debt obligations and his the key point on this right you can't do it as a student watching that individually you have to organize 1000000 students every year. it's their fault i'm counting on make those payments as a huge amount no one really knows about because because people are going to be ashamed of that it wanted to talk about their financial woes so what they have to do is everyone has to organize and collectively you know get that debt structure all right well it's hard i mean during the ok the vietnam war protestations if you saw your friends coming back in body bags it was easier to get a softball movement going by here and it's like a victimless crime because you don't really see the carnage we're told it's a victimless crime and there's always going to be some students that are going to

be like well i'm going to play the game theory hair and i mean hey i want not to burn my dad and i'm going to job a j.p. morgan and i'm going to be running a company one day right so yes how do you get folks to act in their own self-interest as a group trustee or explain to them that there isn't this isn't victimless. there's the down side to all of this is also really a society's ruin but on the way all the mental health issues that go with it there are people there are serious a great surge going through the roof there is a total shunning of entering into society because students have sales surged disenfranchised the glass rates going down all is indicates is socio economic indicators going the wrong direction so this isn't great symbolists this is very well organized and we know who the organizers are so what you do is you say you explain that to people and maybe some outliers will go off to j.p.

morgan and you know straight to their life away looking at spreadsheets but others who wants or value start businesses create the entrepreneurial class really what in the real economy do all the things that give meaning and purpose explain to them that actually they have a lower level of geisha are not supposed to step. general obligation not to pay the debt ross astro thanks for being on the kaiser report it's a city that's going to do for those of us out of the car as a reporter with me mask guys or station i would like to thank our guests ross abstract of the running game and the filmmaker behind the global smash hit the 4 horsemen in that film by the way probably the best part anyway if you want to reach us on twitter it's kaiser report until next time by.

the european union's tendency to believe that. represents europe has long been a major gripe for russia but as the e.u. experiences significant internal difficulties it is starting to reassess what it is and what it stands for what does that process mean for the countries sharing the continent with. thinking of getting a new puppy once we've gotten. something new and they're trapped in this tiny little wired people who need to create within the walls. freaking out when it's pretty even anywhere near thousands of reading dogs or caged in the in human conditions on puppy farm i mean 67 years you know they've been locked up in a cage outside you see no protection from the weather the heat you know the cold air the rain the snow the founder nothing they have no protection. you.

get 2 kids. across the u.s. cruel puppy mills are supported by dog shows and still most of the puppies are coming from this large scale factory farming kind of operations are being sung at stores even joined a group businesses are involved like call giving money. there's been a shocking amount of organized opposition to adverts to increase the standards of care for dogs bred in commercial breeding for so many most of that opposition is coming from huge agricultural work in so many industries that have nothing to do with jobs don't buy dogs on our team. or there's only johnson. and i just got out of prison for. 41 years. 72 years so. i got arrested for term of some of the.

throw you know like just everything was taken out of. my work in the past but it was a. government decision on man that looks a little bit like me. about. homicide want to. work hard tough you. do not so bad law so you're going. to go. to the moon i'm afraid to try to frighten. us no good somebody's going to do.

and we're going to fulfill. this is probably to the people come on you know we've all pots. this. pretty. much. anywhere. you want to. know.

germany's decision to expel 2 russian embassy stuff 1st calling the move friendly justified berlin claims there's evidence to link russia to the murder of a georgian national which happened in the german capital in the summer. but elections looming the leader of britain's labor party is smeared by accusations of spreading so-called russian dissin for mation but the main accuser the telegraph newspaper was apparently used the same dossier before itself. and a u.k. university is under fire for.