as in iraq housing u.s. forces in revenge for the assassination of its top general and in a statement released just minutes ago by the iranian foreign minister he referred to that conflict divide serif said quote human error at a time of crisis caused by us adventurism led to this disaster profound regrets apologies and condolences to our people to the families of all the tims and to other affected nations well these are the latest pictures from the crash site while passengers belongings can still be seen the area is apparently reportedly no longer cordoned off and investigators are no longer present earlier iran said wreckage from the aircraft have been collected and taken to a safe location ukraine's foreign minister said experts from his country have been given access to the flight recorders and fragments of the plane well that is it that is a wrap up of our breaking news and other stories from around the world stay with us because we will be back here at the top of the out with the latest developments on this story see them.

this footage is unique because the zoe tribal lands are normally off limits to the public erik's allowed in because he's the seller his personal doctor. people here know him simply as dr eric he's rich and famous some always on the move saving yachts and flying aircraft. at. home. he's considered one of the best neurosurgeons in brazil.

that's happening amazon. how are you so sis going to busy you and nothing's going to do the population nothing much is going to people from momma's on. oh either imax kaiser and this is the kaiser reports. is there any and the bull market. there is no end to it. all news is good news in our markets since basically 2008 really since 200-2000. the fed don't fight the fed for sure can't fight the fed because the fed

will print and print in print and of course everything went up in 21000 as they pointed out and even assassinating the head of another state or a leader in another nation cannot stop this bull market but you know here is the chart that was quite interesting i thought telling you know that as soon as the u.s. did assassinate sell the money in iran well he was in iraq but the iranian head of their military division gold crude and big coin as you see they all spiked at the same exact time with the same movement is there then we have gold and oil and so they all went up together safe haven well a couple things so it is proving itself to be a safe haven like gold so bitcoin a store of value and safe haven as we've been saying on this show for 10 years finally the markets coming around to that point of view the idea of big oil as

a medium of exchange you need to emphasize the transaction ability is false and that's why something like that coin cash is a nonstarter however let's look at this other idea you talked about 2008 what happened in 2008 while the markets were constrained somewhat because of the plumbing of the way markets work the pipe that delivers cash or liquidity from the . antrel banks are the primary dealers to wall street to commercial banks is somewhat well known in terms of the architecture involved there in 2008 so with tim geithner and ben bernanke and all those president's men they decided to expand those pipes to be $23040.00 times bigger to accommodate much more money printing and we're still seeing the benefit of that because they went ahead and printed almost $20.00 trillion fresh dollars that they swapped with banks for their junk and they put that on the balance sheet of the fed was down as many trillions of

dollars worth of junk as do all central banks around the world the question is how fat are those pipes can they another 20 trillion and joan and i posit that they can so we're this is not a long way to go in these wars only stoke the money printing which means much higher prices yes of course in the you know dropping bombs just wastes money right there over 100000 each misao and that sends some of our inflation overseas but i think now that we're now officially in 2020 all he does is of course look at the stock market that's his entire gauge for all that he does so anything to keep the stock market up that's why you're going to see now not only do we have that china trade deals on no it's off yes it's on no it's off because of course it's it he's trying to manipulate the prices on the stock market send some sort of investment

move here the same thing we see with this war it's going to be war is on worse off or is on or is off i think for the next few months leading up to the election you're going to see that sort of thing because you see this wall street rallies around war threat work khana me rages on because remember the markets fell right after the monday after the weekend assassination of sell a money but then they soared towards a. of the day and that was because on that letter that was fake no it wasn't fake it's real no it's not we're not really leaving iraq remember that whole letter she going to see more of that sort of stuff as we go on and it's all about this these pipes that you talk about encouraging the fed to print more money because remember trump is also not only looking at the stock market but he's always looking at the fed and what shape jay powell is doing it he's not printing enough money and if he's not printing enough money for me i'm going to drop a bomb so he has to print more money exactly people always ask me about trump and i say it's a new york thing trump is

a new york this and he looks at the global picture and he sees the challenge in the middle east he sees iran doing a dance with their neighbors and there's like you know what let's just cut to the chase there's just i got a guy in iraq and we're going to get more money printing right away because i want to make my yacht payment this week and why folks around this is the new york way of doing things i said it when they 1st got elected it's like i have a new yorker in the white house and having a new york around the world i'm a new yorker some i got to tell you i love it it just go to times square and look at that. in there and how crazy it is and you'll see. who are going to make them you know new york. you go to forget about it right so this is trump and it's you know this is the way the world needs a new yorker it is the consummate new yorker you know also i want to point out that in 2007 march of 2007 member general wesley clark said that the plan was that the u.s. is going to invade 7 countries in 5 years ending with iran so at that time though

and i want to look at these charts this is lockheed martin and raytheon so they provide all the aerospace sort of weaponry that you know we go at war from air now we don't send in troops because the population be against it if too many soldiers die but not until we actually killed general could offie in 2011 october of 2011 right then is. here you see 20 years of records not much going on in defense contractors until that point because that was one of the nations that general wesley clark had said after rock and and somalia and sudan and then it would be libya and ultimately iran would be the last one so i think people investors started to price it in as we're actually going to go to iran so they've known this since then i believe that's my interpretation markets are discounting mechanisms and they tend to discount the future and so you see a stock chart like that and you can tell that yes the markets are starting to tell

us that in iran and beijing or and then ran event there at war with iran is imminent so that was telegraphing this months in advance and the defense contractors there's no greater waste of money right there are no. more inefficient corporation and they're more inefficient that hollywood studios to give an idea how inefficient or lockheed or raytheon are and that's a brilliant if you want something out there that's sucking up half of every tax dollar collected in america half of the 3 trillion or so collected goes to defense contractors in america and if you want to print another $5610.00 trillion dollars let these guys loose and just let them go out there because it's going to require another $10.00 to $15.00 trillion of money printing i mean the stock market's got another 2030 percent to go on the upside despite their low ratings this is good news for m s n b c because remember you know many of their commentators on there are actually former defense officials former raytheon lockheed martin executives former intel

cia f.b.i. all these are the people that are pushing war so this is good for them of course lockheed martin certainly i think also raytheon take out ads against these important shows pushing people you know to accept war is and this is always back in world war 2 this is to paint pictures of pin ups on the bombs you know that anybody able wasn't ready to get in. we're going to gable cutter and now they put rachel maddow or a so you know i want to also say as you point out this money printing because there is the other war and that's the financial war the economic war the class war against the bottom 99.9 percent suffer the consequences of not only the war in the middle east there the soldiers that have to go over there but also the war. to maintain the zombie banks and the zombie economy is the money printing is member again this week we've had the fed doing more emergency repo nobody knows what's

going on only a few in the war room know which banks or hedge funds or and to tease are in trouble well the fed plans to consider permanent ways to keep money markets stable remember how we always like go into iraq it's going to be temporary afghanistan is going to be temporary yemen is going to be temporary and then we end up with these permanent bases how i don't know how many bases we have in iraq this this whole notion of like we're going to leave we're going to stay we're going to leave we're going to stay we're going to leave we're going to stay we're still in germany 60 something years later this is now what started as a temporary measure is a permanent measure but this is again a new york thing right there instead of saying the thoughts and about and say maybe we're going to raise raised a we're going to lower rates maybe we need to be prudent maybe we need to think about wages maybe we thing but the economy maybe we have a job to do you know they're like you know we're just going to print money out in front of it we're going to open the spigot and walk away there's no policy there's

no economics there are no economists we just open up full blast and walk away that's the way to do it you're right in that wall street salesman you just got it get them to answer the phone or open the door you stick your foot in the door and say i'm just going to take a minute of your time if you don't like this vacuum cleaner i had to sell it to you you can just kick me out for you get in there and you schmooze them and you sell them on this and then it becomes permanent and that's what they're saying this is a permanent situation well the fact in cleaner salesman famously barges in sadar and then throws a bag of dirt on your floor yes and you know you need him to clean up this dirt and by the time he's cleaned up the dirt he has sold you a vacuum so the fed is saying we're going to dope a ton of money. in from the item into the economy it'll. create malinvestment it will create defense contractors roaming the world bombing innocent civilians for in for giggles for fun just because they look their their fancy houses in the

outskirts of washington d.c. and then once they've followed these places then there's the they don't those countries like iran or wherever they're like oh my god this is terrible let's do something back and they'll blow up a building here or they'll blow up a building there and then they you also say oh my god we're going to print more money and we got to say did we were right so it's a self-fulfilling prophecy of money printing and by the way australia is expendable you mentioned hollywood earlier and they say that d.c. is hollywood for ugly people so the fact that what we're seeing and the past. few days a week last week and we can have is team america you know that's why they could they reflect each other l.a. and washington d.c. so he's saying like you know you can't get this out we trash your country when destroyed babylon and you know what if we kick us out you're good at the pay the billions of dollars that we spent trashing your country or we're going to destroy these art of your cultural artifacts well all of that was predicted 15 years ago

under bush you know with team america so this is a reflection of each other they they act like they're so high and mighty in hollywood as ricky gervais's a point out and he said don't make political speeches because you have no right to because they are the same because most people in washington and in the liberal media elite the new york times washington post c.n.n. are informed almost entirely from south park the simpsons and bad hollywood b. movies that's their source of education that's their view of the world anderson cooper knows what he knows by watching south park and he comments about this nightly on c.n.n. is there any wonder then that we're just bombing people to get money printing so that we can get them to hit us back remember they have to hit us back the other countries have to have both of us now so that we can justify what we just did if we're going to print more money to keep the stock market rolling that's a necessity of chorus very poor only here did you hear you can taper

a ponzi so we had said this back before the fed tried to taper the ponzi and by raising interest rates i remember jay powell when he raised rates in 2018 in december cause the huge crash markets fell by almost 20 percent and then he turned on the spigot again so this is they admit it in this article but the permanent facility another way the fed has been managing interest rates is by growing its bond portfolio again the central bank. says its purchases aren't economic stimulus and that it's renewed purchases are meant to correct the excessive reduction of its balance sheet size again like i said look for this going forward remember where leaving iraq now we're staying in iraq the statement from the department of defense is like we don't expect iran to retaliate for this but that's why we're sending thousands of troops there because we expect them to like they say all they want

they all do fed speak now right and who was the audience that some saw it when he drowned this guy dead in iraq jay powell anyway we're going to take a break when we come back much more coming your way. in a world of big partisan group. and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.

if you haven't. heard. welcome back to the kaiser report imax keyser time now to turn to michael pentode of tonto port dot com michael welcome back thank you for having me max and happy new year to you we've got a lot to cover here michael gold rocketed on trump's war in the middle east other than the sort of black swans however what is the case for gold at the moment if any

michael well it is really a goal never changes marriage is always a mirror the direction of real interest rates and real interest rates are flowing and they're throwing at a faster rate as here to the to the fact that our annual deficits are now a trillion dollars and growing much higher there's a green time to buy gold oh by the way the dollar is also in a topping phase those 3 conditions spell your better own goal all right fair enough let's move on how are you positioned at the moment in terms of defense stocks our defense secretary marc as spurs was previously a lobbyist for the likes of raytheon and lockheed martin your thoughts on this sector if we go full blown war much bigger than just the recent iraq incident. well i'd say i mean i've owned aerospace and defense stocks in the portfolio for the past 6 to 8 months in the portfolio it's a 10 percent is ition so this is not a new position for me at all they are not massively overpriced you know the entire

stock market is massively overpriced and she's hard for me to imagine that we're going to cut back on defense spending when we could have the whole middle east into complete conflagration so i mean if you want to look at something that's recession proof and something that of course republicans love and even some democrats and the deep state are enamored with completely is defense spending so that's you know that's something you really should have as part of your portfolio but i want to just add this really quickly max you know. 2019 was a pretty good year for stocks yes and p. 500 was up about 28 percent but people seem to forget that the 4th quarter of 2000 . was a very bad quarter for stocks as a matter of fact he has been 500 lost about 20 percent in 2018 this 4th quarter of 2018 so why did stardust appreciate so much in 2800 it was

all about the same thing it was all about central bank counterfeiting. the federal reserve. $500000000000.00 ahead for a trillion dollars to his balance sheet from in september till today and they printed $57000000000.00 just on january 2nd to make sure we had a nice kickoff in 2001 ok and then to money supply was growing at 3.6 percent in the beginning of the last of 2 there's 18 it close less year growing at 7.6 percent year over year and you realize rate so please don't mistake me or you as a permit bear i don't want money here ok i am not constantly shortstops or what i am saying is that the foundation of this economy and the global economy us economy

and the local county is faltering it is fracturing because it is predicated upon siskel and monetary madness. so i run stocks like this one run by management. i try to make money in all markets but are most concerned about preserving your principle and making sure we can make money when the real prayers are right that's a calculation really i mean they did the move to take out this iranian fella in iraq obviously they did the math and they figured that it would not upset the money printing in the us to paper over anything any problems they might have geo politically around the world and i don't see for see any problem arising short of a meteor striking planet earth that would stop the money printing and they have room to print another corn even 25 trillion so they have a long way to go on this runway and it's great to be cautious but america at this

point is proving that the us dollar can be printed in fun item and the rest the world has can't do a darn thing about it now michael what are your thoughts about the fed might do if the war escalates i've just stated that i believe that the matter what happens they're just going to have enough room to print money but former chairman bernanke is recently quoted as saying we could go negative without causing harm so there you have it they could go negative well that's that's my point michael you differ. but i mean you know europe is this is not an experiment there's never been tried were in easy to be the european central bank has a negative interest rate and their banks are flow through it in a very short manner so i mean there's a 0 percent or negative interest rate helps anybody in the world as voters or economic growth is concerned no i mean how can a bank made money when they're paying interest on their deposits and essentially i

mean what and what's the spread between their loans are going there because it's in their loans are basically the same thing there's no more urgent. interest north and then there's the. no way to basically make money if they can't make money they don't lend so they keep their money at the central bank and pay them to do it because people are saturated situation i mean look at it i mean let's just look at the corporate jets an area here in the united states and around the world let's just talk about the united states for a 2nd you know the i.m.f. said that if we have a recession that is one half as bad. as what we had in 2840 percent of being too high or too built world's corporate bond market would be own but only by sunday could ration its ok so corporations that don't have the cash flow to pay interest on their debt they have to borrow more debt just to service their debt 40 percent max what are we going to do in the next downturn that's why

the federal reserve is going to be cutting rates in 2020 they only they only got to 2 and a half to adequately retreat to want to have their their panic about is. a more his inflation rate that they just can't get to 2 percent we have to be at your percent and way above it because we were below it for so many years you know that's when the middle class is going extinct back you know that's how one percent well of the wealth in this cut in this world now owns 50 percent of the of the well costs that's why the top one percent of the wealthiest people on this planet own 30 percent of the well and their well is growing at 5 times their income growth is 5 times that of this 3 when towels in the middle class size times faster and why is that because central banks around the world are in history the middle class by bringing up energy prices by words by inflating their housing costs and their

education costs energy costs clothing costs well the richest of us among us can't own stunts and bonds and real estate and become wealthier and wealthier and that is why i may seem like a kermit bear no not i'm just saying that economic structure this is what you say to we point out that the sound asian underneath the global economy is predicated and based upon sand yeah but i was i was. i'm a perma realist i mean they mention the top 20 percent their wealth growing at 5 times what the middle 30 or 40 percent is growing at but you don't i mean i look at the top 20 percent and i see an extraordinarily rapacious and ugly group of craven psychopaths look they're willing to sacrifice australia on the altar of

money printing right australia is the victim of central bank policy and ignorance of what that does to your ecology and what that does to your economy they're willing to throw australia onto the bonfire of their vanities what where will they end where will it stop it won't like all intel all the wealth is hold by 5 or 6 people and that's not going to stop nobody's going to stop it because none of these other countries are going to stop using the dollar because they're cowardly but let's move on you are invested in gold at the moment michael but in fact you're not a gold bug but what were your thoughts on the fanning stocks facebook apple amazon that flexing google we belong until it iis the long. long gold so you know we're not upset here about what's going on we're just trying to make money in all situations but i do think we're you know you mentioned bank so let's just

look at how explicit the market is so at the peak of the mania in the y2k 2000 as they bubble the wilshire $5000.00 as a percentage of the economy to the wire at the widest measure of stocks as a percentage of the actual underlying economy was 140 percent it is 152 percent of the underlying economy and i will submit to you that the underlying economy is order surely goosed by money that is free. so the journey was much more the underlying economy was much more see back in the year 2000 and is in the year 2020 so so you're with your with an advisor has warned sang ok we're you want to throw markers or facebook app will nam's on google or you just long the s. and p. $500.00 because you've got a dollar cost average don't you know. you're in for a huge shock because what you're doing is you're owning the japanese new kind out

in 1909 we're just still down 40 percent 30 years hence and your owning chinese shares the shanghai shares in 2007 were just still down 15 percent from 2007 ok that's what you're doing you are it's how ticking and ethnic bubble in u.s. stocks and in europe and u.s. economic growth predicated upon free money which will look absolutely implode when the corporate bond market implodes or the idiotic federal reserve achieves its 2 percent inflation target plus whatever the number because you know they measure inflation at 2 percent it's really closer to 8 right how you like to buy go all the $250.00 an ounce though i wasn't a 1000 well if you look at gall versus the global debt situation it's cheaper today than it was at 215 in 2000 you have never seen gold under they go this cheap and

probably 100 years relative to the global debt that's the other way to look at it but anyway michael thanks so much for being on the kaiser report and i will see a center in new york i'll. i hope so too max a little stacy oh yeah definitely and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guest michael pence for calm if you want to catch us on twitter it's kaiser report until next time i'll. join me every thursday on the alex simon chill and i'll be speaking to guest of the world of politics school this list i'm showbusiness i'll see you that.

breaking news this hour on our team in admits that it's missing unintentionally shot down ukraine's passenger plane on wednesday but the country's president calling the incident and unforgettable mistake. as iran's foreign minister blames washington adventurism for tensions that led to the downing of the u.s. secretary of state is will by reporters demand a justification for the killing of iran's top general. in the meantime the u.s. hailed its military in iraq as a force for good in the middle east to baghdad baghdad ask american troops to leave the country.