i don't know if. the. rights groups saudi arabia's handling of the investigation into the murder of a journalist. to smuggle out of the ecuadorian embassy in london. is here but for many. it was overshadowed by concerns over security and. financial news in the kaiser report.

it's max kaiser this is the kaiser report twas the night before christmas and all over the world people were mining back on seeking individual sovereignty a new poem i just wrote what do you think stacey is not made that oh that's lovely i said merry christmas in spanish i know that from jose feliciano i see you're still wearing your colombian necktie. now you know i sort i can't think of 2 different ways really hopefully it won't be a colombian act by the end of the show that would be quite bloody yes exactly but where in argentina we're going to be heading to rio de janeiro those will be our next episodes from there as you see we're in the southern hemisphere where we all it took us decades of my life to learn that it's warm down here during the cold christmas up north so from now on i am going to be where it's warm christmas much better than that cold sand it's nice and warm down here so we're going to look back

at 2019 and you know what were the big themes what we got right what we got wrong we didn't get anything wrong so. we definitely got right heading down to the southern hemisphere for christmas but the big themes i've been we've been looking at over the past few over the past decade it was this a few decades it feels like we've been doing this show for decades but it's just been 10 years this autumn we got right deal bliz ation indeed dollars ation those are the 2 big themes and they are really really really reaching across the headlines around the world and it's undeniable to anybody now we were called conspiracy theorists when we 1st pointed at the south but now everybody recognizes that dollars ation and de globalization are going hand in hand with it a 3rd date with the d. degree level zation dollars asian population the population that we're seeing the climate catastrophe really start to do pop. humans that's in fact what one of our gas royce a bag of gold money dot com predicted could be the price signal that we see with

negative interest rates because otherwise how can time have no value it doesn't make any sense other than if it's predicting it's signalling some sort of huge deep population of and whether it's just like everybody stops having children or there's a mass die off in some way who knows it could be you see with all these superbugs and. did make that connection negative interest rates connected to the population because otherwise the idea of having a negative value for time makes no sense and last time which is a human construct was going to in less humans so go back look at that episode just search on you tube for royce s e b a g to find that because it was an interesting thought provoking episode in 2019 so last year at this time of course markets were tumbling and everything was kind of chaos and everybody thought it's all over and the fed stepped in so that was the

end of another thing we've always been talking about and that was that you can't taper a ponzi and the fed stepped in and they've been intervening more more all year long it started with them just stopping raising rates member they ended the year john williams at the fed had said that they were going to only saw like one or 2 more interest rate rises and 2019 of course they couldn't do that and they've been cutting rates and they've been intervening in the repo markets here's a tweet 2019 was the opposite of 2018 a global rally lifted every boat long strategies made money through most of the year stocks bonds and commodities had positive returns only in industrial metals and those 0 song game of currencies did major assets post last. can taper a ponzi scheme thing the fed stepping into flow. the market with cash to keep the folks at the very tippy top of the wealth pyramid happy started 1987 right so the

crash of 87 brought in the plunge protection team under alan greenspan ronald reagan and robert rubin and they began to flood the markets with cash with government money with taxpayer money to essentially that was the end of free market capitalism in america in a huge way you had the one $913.00 in tradition of the fed that destroyed much of the u.s. capitalism and then the 1987 plunge protection team pretty much took capitalism completely off the out of the picture in america and we ended up into a control a command and control system by the fed the fed became the new poll bureau interest rates became their the hammer and sickle that they beat the population and to rally the elites and they did so under the ideology of market fundamentalism which we find out is similar to theological fundamentalism and that it breeds terrorism that was only possible once told paul was no longer in the central bank that's paul

volcker who did pass away this end of the year december 29th so he was the guy who was in charge of the central bank when the u.s. went off the gold standard he was brought in and basically fall gold and won right because he he at the time when we 1st went bankrupt defaulted on our gold backed debt and then we just paid a fee out there was a lot of concern through the seventy's a lot of inflation volatility people didn't know if this was all going to work and then paul volcker came in reasons just raised to 20 percent. incurred the wrath of many bankers the bankers hated him if you ever see a central banker that is hated by bankers then you know they're probably not model of the model coddling them how do you say that we're only coddling ali well you know paul volcker was the last central bank of america to do the job of what the central bank was designed to do. take away the punchbowl when the specular friends you got to crazy he was the last to do that since the time was starting greenspan

they've only had one policy response to every single economic event that ever comes out of the pike and that is to lower rates and print more money that's the only thing they ever do and they don't try to do anything other than that to the they can tell in effect feed their friends billions and billions of free money and interestingly enough every federal reserve chairman sense paul volcker has as far as the physical dimensions he was i think $6.00 foot for every single one has been progressively shorter with janet yellen being the shortest of all so that's kind of interesting and also in the area of central banks with volcker gone was really the and. this idea of kind of price discovery as it relates to markets as well so now we all we have now is we don't have price discovery we have what's called mark to model so usually assets are marked to market to say oh i have a brown bunch of assets and the market value is based on what i can sell them for

but when once volcker is gone and you bring in the imaginary money crazy people like greenspan you introduced mark to model you say i have a bunch of assets and the value is based not on what i could sell them for but what i could theoretically sell them for under certain theoretical conditions and this is the beginning of the phantasmagoria of the global debt pile which is down golfing all economies everywhere i want to point out another thing about paul volcker that it's important to understand and what has changed since him is he said the greatest financial innovation of the past 100 years was the a.t.m. machine so all this crazy financial engineering and we're so fabulous and we deserve to be billionaires for a basic function of utility as a bank you know exchange you know offering loans and and acting as a middleman between the government and the people of the population for the money like. he didn't buy any of that stuff about all of these credit default swaps and

derivatives and that it was some highfalutin scientific sort of wonderful creation also with paul volcker because you see he wiped out inflation yes during volcker is time which of the seventy's and the economy up until the seventy's in the united states it inflation numbers included wages after a greenspan came on board wages were no longer included if you were looking at inflation because wages were financially engineer and reagan destroyed organized labor with the firing all the air traffic controllers and wages were put into the socially outsourced to china and so when people say well we have an amazing economy with no inflation as they do now if you turn on c. and b. c they'll say there's no inflation what they mean is we have an amazing a commie were billionaires are becoming even more billionaire e. and wages of state flat that's not the same thing as saying no inflation the reality is we reengineer the economy starting with greenspan to give billionaires many many more billions and not to give wage earners anything that's what they are

so i think we actually happened as you reengineered the population as you've discussed here with john bruno and as we've seen on the ground here and argentina the people here cannot afford to be stupid and ignorant because they are there's another currency crisis on the horizon is the reality of the last 100 years in america what happened is because i remember the seventy's i remember my mom worked at pfizer remember my uncle worked election boat right across the street and i remember them talking every year at the end of the year about how much their it which is we're going to go up because it was tied to inflation so i remember them talking about this no do you know anybody that ever talks about that ever it like consider is there because inflation is connection news in the national engineering in the mind of the people who don't understand gold who don't understand big point of course no bitcoin or no gold all right so americans your quality of life is the same or better even though your wages haven't gone up because the. you're buying made in the factories in china are cheaper yes so they're like oh i'm in my trailer

park shooting smack but i'm watching a 140 dollar flat screen t.v. manufactured in china so my quality of life is actually just as good as it was when i was making you know back in the seventy's it had a great purchasing power and one member of the family was the breadwinner and people were educated and my kids were not shooting smack but they make this equivalency well of course i want to point out a chart that was very important in 2019 and this is again it's a chart that has followed the kaiser report since the beginning in 2009 gold broke out of a syringe and i finally hit 1500 again for the 1st time since i guess it's 2012 here's the chart going back to 2010 so right towards the beginning of kaiser report gold has soared up to close to over 18 voiceover in argentina let's mention that when we started it was a 1000 pesos to go down 290000 pesos for an ounce of gold in argentina so gold is

making new all time highs in currencies all over the world except the u.s. dollar so this chart itself doesn't it doesn't go back to 2003 when it actually started when the gold bull market started it went up and when you and i were investors in gold the $300.00 it went up just like $78900.00 and then fell back down to like $6700.00 and people like robert park tourist saying it's going to go to $300.00 again this is the 2nd wave that it went out over i guess it was like about one $1800.20 and then it's tumbled and we've done a long tedious sideways move for the last 56 years but as you see it's broken out of the range that could be the 3rd wave and the 3rd waves are always the most spectacular of any bull market so a lot of people in the audience will think oh the bull market was over because it's only been in like a 12 $11300.00 for the 1st few years but had they been watching kaiser report they would have. when i was $200.00 or $300.00 secular bull markets are 101520 years and

duration when i started on wall street 1902 there but a secular bear market on wall street for 16 years and people in work and wall street did not they had to work night jobs to make a living it was that dead the offices of wall street were half empty people consider wall street a dead end job and then you had the bull market the secular bull market began in 1981 involve her had taken interest rates inflation right and then so we've had 37 years 38 years of declining interest rates and that's been the the photo the picture of the bull market but now now we're at the brink getting of a secular bull market in gold again 17 years into it and at this point lovely we're going to take a break and when we come back much more coming your way don't go away.

would. put themselves on the line to get accepted or rejected. so would you want to be president. some want. to go on the road this is what the 3 of them will be good. interested in the war. a reflection of reality. in the world transformed. what will make you feel safe. isolation community. are you going the right way or. are you being led somewhere. what is true what is faith.

in a world corrupted you need to descend. to join us in the depths. or a made in the shallowness. welcome back to the kaiser report christmassy oh the trees being lit. a lot of americans so that all that stuff or what is there is argentina celebrating christmas south of the equator and i put some garland on an empanada and it was so delicious well i love all the jacaranda trees and the blooms out here it's just amazing we've had a amazing time down here we've obviously not been naughty this year because otherwise

we wouldn't be here in argentina celebrating christmas season i want to again remind everybody that we said one of the things that we saw in 21000 as we said at the end of the 1st half of this episode was that gold is now has hit 1500 to went through that decisively that is that was a key resistance and now there's really no genuine resistance until. 190900 so we've got some upside potential even goldman sachs is saying it's going to hit 6800 this year but you know the other thing that we ended 2019 with was the repo market and that was the big mystery of what is happening in the repo market is somebody going under is some bank going under is deutsche bank going under and one of the suggestions had always been that j.p. morgan was just too big write well in fact the bank of international settlements at the end of the year did come out with a report and they're suggesting that indeed it's the monopoly and that's the way matt stoler says it's

a monopoly stupid for banks that dominate the market hold about 25 percent of their reserves in the u.s. banking system but 50 percent of the treasuries so the top 4 banks in america own 50 percent of all treasuries which are very crucial to the liquidity of the repo market that mismatch according to the b. i.a.s. likely slow the movement of cash in their repo market rates so once again low interest rates which promote mal investment and crowd out good investment create financial catastrophe which end up in bank mergers so in 2008. j.p. morgan merging with a lot of banks. and murdering banks are monopolies and banks may like the repo market showing massive distress. i know we've been left but i am and i'm laughing because. my chair made and i like that was kids.

2019 well that's people passing wind on air it was my chair making noise and i don't want to go viral like i don't want to go viral that it's possible you know being noticed by anyone why you would suddenly laugh in the middle of our christmas show based on a. perception of fluctuating chair you know that couldn't possibly be of interest to anyone you know i was shocked because i didn't even hear them. and i'm just looking at it giggling. monopolies are destructive ultimately and low interest rates allow for the mal investment that create the catastrophes that encourage the monopolies that's my point before the chariots of the bell like to reiterate my point so again we're going to go to these

details a little bit of the b.a.'s and i want to get to the predictions we got right at the end of the year last year about economics in the u.s. china trade war 1st u.s. banks reluctant to lend cash may have caused repo shock said the b.a.'s and this is from reuters the unwillingness of the top 4 u.s. banks to lend cash combined with a burst of demand from hedge funds for secured funding could explain a recent spike in the u.s. money market rates the bank for international settlements said cash available to banks for short term funding all but dried up in late september and interest rates deep in the plumbing of the u.s. financial markets climbed into double digits so this is the problem with monopoly and basically having cartels running every single sector of the economy is they could cause chaos by just withdrawing. you know the liquidity and if if they want to act like cartels and basically a government service like either nationalize it or have free competition have to have actual competition because you can't run

a pseudo market like this no you need competition to make a capitalist system. fair right i mean the more competition the better and when you remove competition and you remove diversity you end up with a macho model model monopoly and. risks become catastrophic so the u.s. is heading toward the abyss it's heading toward it's 1991 soviet union collapsed remember a friend dmitri orloff wrote the essay collapse gap and he said that the soviet union and america would both collapse the united states would both collapse but the us would take a few years longer now we're in 20 twentieth's think the us will. union finally on early collapse as adam curtis showed demonstrated in hyper normalization at least the soviet citizens at that point did not have any delusions that the system was

normal and could possibly sustain itself most americans tune into m s n b c or fox and they're there like sooth there's the old everything is normal this is ok everything's fine it's like that burning dog with the world burning down around and it's everything is ok me i mean it's agreeing with me dog mean in the burning room saying it's all ok i hear i hear the audience talking right now i hear them saying ok boomer ok boomer because we're we can't get this 1000000 of course you're x. or i'm a boomer x. or but because i hang out with you all the time i feel like a boon i feel like an x. or because i hang out with you. well here's another tweet that sums up 2019 and we had predicted that our new year's eve show of going into 29. china exports to the us down a whopping 23 percent year on year. looks like pretty bad so of course one person's loss one nation's loss is another nation's gain so

we'll go into that about the geo economics the re architecting of the global power grid. neo mercantilist new trade deals new trade routes the new silk road to point out we've got new. alliances emerging new developments happening because one well because like we say all the time throughout history no empire goes away quietly they like to tear down they like to throw over the whole monopoly board and we're we've seen that over the past 10 years but accelerating under trial and now you see it in the numbers here that's the heart of global trade that's the deal globalization right there and that's the sinking of the trade with the u.s. of course that means that china's not receiving dollars for their exports to china to the u.s. it's down 23 percent and we save less dollars have to recycle that means they're earning other currencies from other nations as they do their own currency swaps

dollars a day globalization population these are the things we've been talking about for a few years should have had a massive crescendo in 2020 and in fact we also had predicted yobbo would accelerate and at that time last year at this time it was just a yellow vest movement and now we've seen i'll just highlight the ones that don't get mentioned by the mainstream media because of the inconvenience of it being a us back to neoliberal regimes like chill a colombia lebannon. you know that's a little bit more complicated but they're chile and colombia down here in latin america you know those are huge uprisings against and they say in their own placards against neo liberalism like you take our assets in. give us a pile of dead that's a bogus deal but go back to this geo economics i want to say you know we did predict that the u.s. would not allow the one belt one road system to move forward from china because that was like their marshall plan and the marshall plan after world war 2 helped

the us really solidify our trade relationships and our. alliances our allies having to rely on the us well according to the atlantic council actually who are very pro-american sort of the regime changers many latin american governments and companies consider the belgian road initiative an opportunity for furthering international engagement as in other regions of the world the main alert of b.r. eye is expanded access to china a growing export destination and source of external financing over the past 20 years china has transformed from one of latin america's modest commercial partners to one of its most important bilateral trade grew $25.00 times from $12000000000.00 in 1909 to $306000000000.28 team placing china as latin america's 2nd largest trading partner after the united states since 2005 chinese policy banks

have provided more than $141000000000.00 in loan commitments to latin america exceeding in several years the lending of the world bank the inter american development bank and the c.f. development bank of latin america combined china is also becoming an increasingly important foreign direct investor for the region especially through mergers and acquisitions so they are definitely seeing this as an opportunity especially over the last 10 years where the u.s. was diverted in the middle east but now you're seeing the emergence of this new trade. china's number 2 for latin america right in the u.s. is run out of countries that they can and they are turned internally. as been reported recently phones like call center are destroying american towns the same way that they did. help destroy greece or help destroy other argentina right there are destroying themselves now so the stake is eating itself so we talked about job of the global insurrection against banker occupation we see it around nations around the world especially those that cannot print their own us dollars everywhere

but the us so here's a final headline looking at 2019 and looking ahead to 2020 i don't think it could possibly happen in 2020 but one day americans might join the global insurrection because owns half of all americans work in low wage jobs this is a brookings institute study america's unemployment rate is that a half century low but it also has a job quality problem that affects nearly half the population with the study finding 44 percent of u.s. workers are employed in low wage jobs that pay median annual wages of 18000 dollars to 44 percent of americans earn a median wage of 18000 that means half of them earn under 18000 so leave it to beaver was a show i watched as a kid and that was a typical american family at the time in the sixty's so now only 10 percent of americans have a leave it to beaver like lifestyle everyone else is socially hand to mouth $1.00

to $1.00 foot in poverty that's an exact number $30000000.00 to so just under 10 i looked at the report and i did that calculation in the old beam because they asked what makes a good job simply put middle class wages and benefits like insurance health insurance according to previous research from brookings but only about 30000000 americans have good jobs by that definition but i want to say that he never june cleaver in the b. yeah ok that's going only 10 percent of people live in beaver ville but since that show and most people are again in the audience they're saying ok boomer we've never heard of this series but in fact back at that day and you and i exist around that are we certainly born soon after is a lot of those people who had middle class jobs didn't have a college degree but now you. half most of those $30000000.00 who are in this have these good jobs have college degrees but that cost of the college degree is obviously it's close 210-0000 there are over $50000.00 that you're going to graduate with so it's huge cost to enter that lucky $30000000.00 that lucky 9

percent of the well you know we heard on our show just recently from a professor at cornell university that it cost 2 $180000.00 to get a degree from cornell well that's going to do it for our christmas special hair. remember that elf on the shelf is probably a spy and so much time by. today there are good tennis and bad edits the bad news in yemen the united states deems to be a threat the good news word 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 great military juntas

funding and arming these death squads there's no. because there's always a small. really good this. seems wrong. but i. just don't hold. me. to shape out. come out to. engage with. the trail. went to find themselves worlds apart we choose to look for common ground.

we're losing a boom bust broadcasting around the world and covering all aspects of our global economy in the 21st century i'm been sworn and i'm christiane washington we've got special show focusing on the energy sector and here's what we have coming out of the north going to pipeline which is set to transport natural gas from russia to germany is facing sanctions from the u.s. are fun and. will break it down for us and oil bankruptcies are up and prices are moving what the forecast looks like for 2020 while break it down well to take a look at the state of the clean energy sector and where it will go in 2020 with tyson slocum from public citizen so much to get you on the front so let's get right to it. germany has been critical of washington's decision to sanction companies in europe's north stream to gas pipeline praja.