dollar's worth of junk as do all sorts of 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 of much higher prices yes of course in the dropping bombs just waste money right there over $100000.00 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 the end 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 is. you know 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 it'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 fox around this is the new york way of doing things i said it when they 1st got elected it's like ave york on the white house and having a new york around the world i'm a new yorker some of you know i got to tell you i love it just go to times square and look at that. in there and how crazy it is and you'll see why they were going to make them you know new york. you go to forget about it right so this is trump and it's you know that's the way the world needs a new yorker anyways 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 rethink don 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's no 3. more inefficient corporation they're more inefficient at 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 him 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 right back in world war 2 that is to paint pictures of pin ups on the bombs you know anybody able was a great a good guy to gable exciter and now they put rachel maddow right 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 because remember 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 titties 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 rates re we're going to lower rates maybe we need to be prudent maybe we need to think about wages maybe we thing 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 of do it you're right in the wall street salesman you just gotta 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 he 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 cells one 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 you saying like you know you can't get this out we trashed your country we destroyed babylon and you know what if we kicked 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 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 and this article about 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 its renewed purchases are meant to correct the excessive reduction of its balance sheet size again like i said we 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 sought when he

droned this guy dead in iraq jay powell anyway we're going to take a break when we come back much more coming your way. this footage is unique because there's a tribal lens on normally off limits to the public eric's allowed in because he's lived his personal doctor. the people here know him simply is dr eric he's rich famous some always on the move saving yachts and flying an aircraft that .

he's considered one of the best neurosurgeons in brazil. that's happened. already so. busy. nothing's going to do the population is going to people around. the world. driven by a dream shaped by those great. snow day. thinks. we dare to ask.

time after time called parisian to repeat the same mantra sustainability very important celery transitions to sustainable prize board sustainability stay in her manner a more equitable and sustainable world. they claim their production is completely harmless. and it. companies want us to feel good about buying their products while the damage is being done far away there's a 2nd all of this must be undone even as i am a new mother. since i'm in and you missed me doing the name and i'm stunting them to the best understood so going into.

welcome back to the kaiser report imax keyser time now to turn to michael pentode of bento 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 swan so ever what is the case for gold at the moment if any michael well it is really gold never changes marriage is always a mirror the direction of real interest rates and real interest rates are flowing and therefore when get it financed the rate is here to that today the fact that our annual deficits are now a trillion dollars and going 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 68 months in the portfolio it's a 10 percent position 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 'd 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 it's 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 trillion dollars to its balance sheet from its 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 last of 2 there's 18 it close less year growing at 7.6 percent year over year annualized rate so please don't mistake me or you as a permit here 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 that we can make money when the real krrish arrives

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 2525 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 for an 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 has never been tried were nice and beat your b. 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 killed 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 it would end with the spread between their loans but then there are causes and their loans are basically the same thing there's no more. net interest margin and there's no. 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 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 2000 a 40 percent of the entire 2 built worlds corporate bond market would be own but owed by somebody 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 was we were below it for so many years and 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 wealth is growing at 5 times their income growth is 5 times that of this 3 way tiles in the middle class side times faster and why is that because central banks around the world are even sereni middle class by bringing up energy prices why who are why inflating their housing costs and their education costs energy costs clothing costs well the richest of us and among us can own stocks and bonds and real estate and become wealthier and wealthier and that is why i may seem like a permit bear i'm 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 would if i was a. i'm a perma realist i mean you mentioned 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 are your thoughts on the fanning stocks facebook apple amazon that flexing google ok well 1st of all i mean my portfolio we've been long russia we belong until it iis 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 8 the peak of the media in the white u.k. 2000 as they both will sure 5000 as a percentage of the economy in the wire at the widest measure of stocks as a percentage of the actual underlying economy was 140 percent. so there is a 152 percent of the underlying economy and i will submit to you that

the underlying economy is artificially 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 spending ok were you want to throw markers or facebook app or nam's on google or you just long the s. and p. $500.00 because you just got a dollar cost average don't you know. you're in for a huge shock because what you're doing is you're only seeing the japanese nick and out in 1909 which is 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 words how ticking and ethnic bubble in u.s.

stocks and in europe and us economic growth predicated upon free money which will absolutely implode when the corporate bond market implodes or the idiotic federal reserve achieves its 2 percent inflation target or whatever number because you know they measure inflation at 2 percent it's really closer to 8 right how would you like to buy gold a 200 $50.00 an ounce though i wasn't 2000 well if you look at gold versus the global debt situation it's cheaper today than it was at $215.00 in 2000 you have never seen gold under 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 you soon in new york i hope 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

pentode of pent o.-port that comics you want to catch us on twitter it's kaiser report until next time by all. but if she warned you i did the dishes at the balls more than those jeans nudist beach and you see me you'll be true she. doesn't know about that and when you guys e.q.'s. in the news i mean guys are that infants involved. a lot of you will see sawing your info as if parts of the 2 kids out there both for the most school. discipline but as a meeting with the fire chief. of.

staff cabinet 5 days doing this in. english mediate for people who simply knew. little. good politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president and she. want to be rich. and she'd like to be 1st that's what it looks like 3 of them all can't be good get . interested always in the waters about how. this should be all. the money and gives them money i'm not one. of them saddam.

was of a time about what was it was of a time that was innocent is about more about. what went on the side of both of them. seem not going to get but i'm bill simple. to them but i. you know now i'm not madonna. you know world of big partisan movies lot 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 smarter we need to stop slamming the door on the bats and 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. lead.

iran admits to accidentally shooting down a ukrainian passenger jet president rouhani calls it an forgivable mistake and the foreign minister says the chain of events was triggered by us adventurism. switching gears chancellor merkel and president putin meet in moscow at the kremlin and pledged to rescue the iran nuclear deal. and in europe police face off against angry crowds in paris as a rally against pension reform descends.