to mark. in dramatic scenes the french president is rushed out of a paris there under a hail of boos and furious protesters chanting mccrone resign trying to confront him. a russian computer programmer arrested in greece at washington's request pleas for help claiming he's been tortured and denied his basic rights. and russia mocks the 77 years since the end of the siege of leningrad one of world war 2 his most appalling humanitarian disasters. those are the headlines so we're back here next hour with another round up and stay with us for the kinds of reports next here are to international.

max kaiser this is the kaiser report you know interestingly enough we live in an age when the plumbing of banking is becoming more transparent people are now aware of how actually these big banks work in central banks and it's quite fascinating actually because it's the root of all fake news comes from fake money if you want to get rid of fake news you have to get rid of fake money more now later stacy actually you said that many times over the past few years and i did see that ron paul recently tweeted something along that lines that it was the fake money from the fed that is creating fake news and fake asset prices and things like that but in terms of what's happening right now one thing that you and i always talk about kaiser report since we began over 10 years ago now is we talk about gold we talk about bitcoin and a lot of people say oh you can't eat bitcoin and you can't eat gold and and there's

an argument against it but here we're going to look at some headlines guarding the individual economic sovereignty that is granted to you if you own your own wealth if you own your own assets and their real assets because not your settlements layer not your money and this is responding to a wall street journal scoop u.s. officials warned iraq that it risks losing access to its account at the new york fed where international oil sale revenue is kept if it moves to expel u.s. troops so iraq is theoretically an independent sovereign nation and they should be able to invite other militaries in to help them fight somebody or whatever and they should be able to expel foreign military troops should they wish them not to be there while the u.s. is saying should you choose to expel our military bases we will seize your assets at the new york fed you know i mean this is fascinating and people are starting to see we're. really how the world works and how the american empire works and how the

empire of debt some of called it works it all clear so the new york fed and so these countries in the middle east can throw hissy fit and throw themselves on the ground and cry and scream and they can do all kinds of stuff but it doesn't really matter because everything goes through the new york fed and member the 2008 crisis was resolved through the new york fed when timothy geithner was in charge and every time there's a crisis anywhere in the world pretty much it's all resolved through the new york fed the new york fed has the ability to censor if you want to that they want to cut you off from the global economy they can do so at the flick of a switch because sense the 1940 s. all commodities are settled in dollars ever ever since the 1970 s. and the emergence of the petro dollar everything all oil all energy is settled in u.s. dollars all commodities are priced in dollars and settled in dollars and all happens at the new york fed and everyone around new york gets a lot of money because they are in proximity to the new york fed and that's the way

the world works of course the new york fed is the one in charge of the repo interventions at the moment they do say now that there is going to last through the tax season because they have another new excuse it was supposed to last for 24 hours and then 48 hours and then 72 hours then a few weeks and then a few months and now it's going to last until at least april they say and we also covered back in may remember representative brad sherman of california he's a congressman from out there he said about bitcoin that big point we must stop it now because what they're trying to do is replace the new york fed for exactly this sort of thing is what he was forecasting is that we need to control the settlements layer and the u.s. dollar is the settlements layer when people say oh you know the you know oil is priced in euro's and that's a threat to the dollar that's not the threat this threat is the settlements layer so all trade for oil has to settle through the new york fed and this is how they're controlling that all your you can't. yes you have no sovereign rights unless you

cut in as the middleman where the middleman you have to we have to approve of everything so that is why we talk about bitcoin and this is an exact lesson and what we were talking about for the last 10 years right this is why we talk about bitcoin exactly because it gives countries and individuals a way to opt out of the censorship that happens on the subtle middle layer of places like the new york fed and you know personally i have no idea why these countries who are being censored by the new york and who are being subjected to the empire of debt otherwise known as the united states of america don't simply cross over and switch to bit coin and achieve sovereignty i'm sure they have some sort of plan they take a while they don't move as fast as an individual can and that's why the individual is actually at a uniquely positioned place at the moment they can move fast for the nation states can or central banks and governments can say you can get ahead of this this the

thing we see coming because remember again you talk about censorship you know there are all these laws and stuff like that introduced it's always about the bad guy we're just you know these you know the patriot act is just to stop bad guys like bin ladin who does it end up like there's been almost 0 application to bad guys like bin ladin and who gets caught in the net all these good guys like aaron swartz for example he gets caught by all these bad laws that were meant for bad guys but it ends up like aaron swartz who was you know driven to suicide a few years ago just passes the anniversary is of a suicide just passed and look him up and you'll see that here you know when brad sherman said last year when he warned in may that bitcoin was after and like basically replacing the new york fed he said we don't want iran our enemies see is this play here they're saying we're going to cut iraq. or we occupy the nation

we're supposedly some sort of ally at least they're occupier like you know there's a certain international obligations to if you're occupying a nation but here they're saying we're going to cut them off from. what trump said was that the new york fed has something like $30000000000.00 i think it's $3000000000.00 in cash and ok and he said they would owe him $30000000000.00 in total if they got 3000000000 in cash parked there and he says you owe us 30000000000 and so he's simply going to cut them off and take that 3000000000 seize the 3000000000 and slap him with a invoice for 30000000000 fees like developing a casino in atlantic city and he gets all the contractors to build it and says i'm not going to pay you i think it's roy cohn a lawyer affairs at the time to hire a leg breaker like ray donovan they go strange things out right i mean that's the way the world works at the moment and the new york fed is is little private kitty

it's right downtown from where he has a big office well beyond that because it's like he built that casino in your backyard land that you own and you're like wait who told you you could build a casino on my land he said give me 30000000000 for it and you're like ok i you know you give me 30000000000 this this should be the way it where you talk about iraq yes right he just pulled the number out of thin air that this is what you owe . any all self-respect new york developer would do yes somebody in times square would do that to you they shake you down here's another story i found this interesting because it was from the guardian simon jenkins wrote this and it's really kind of fascinating because it's more mainstream media so this is what he's looking at what is happening in iraq and iran and all this conflict going on and he says donald trump's rant against iran is the how of a dying empire all empires stay there declared purpose let alone their welcome all and messily the operative word is all. be they roman napoleonic british or soviet

all or vanquished not by superior power but by self-delusion and geography the british empire had neither the right nor the need to invade far flung parts of asia and africa it was defeated by them the us has claimed the right to intervene in theatres as diverse as south america the far east east africa and a portfolio of muslim states justification varies from retaliation and deterrence to self-defense and the instilling of democracy again this is something that you and i have talked about for 10 years we're saying it's not just uniquely american it's happened to every empire before and that's we're just saying history usually repeats you know they have their own sort of rhythm going on as they depreciate deplete their power via hubris they all get this point they all get this thing of like you can't use the new york fed we're going to take your money we're going to cut you off from swift germany you can't do that germany you know you might be an economic powerhouse but you know listen to us what we say goes you know they all end up like that it's not uniquely you know anti-american or it just like it

wouldn't have been anti you know poli onic or anti roman are anti british or intakes so if it was like this is just the inevitability of history it happens every single time for the exact same reason that i get what simon jenkins is saying there in terms of the history of empires and they never survive and they tend to crumble from within and i understand that the difference with the american empire of the 21st century is that it's constructed entirely out of digits of algorithms out of debt creation out of money printing and the cost of increasing the debt indebtedness to our vassal states which every single country that's not america is right imagine if you were in the prison business and the cost of building the prisons i mean you could build prisons for everyone in the world because your cost 0 america is built a prison called the world and it's the prison it's the it runs the prison. and the

costs of building that prison a 0 because it's all based on everyone of the world the still willing to accept dollars trait and dollars a clearer through the new york fed and worship the us dollar wherever you go you'll find a.t.m. to in countries where as the local currency and dollars right dollar is god no matter what religion you say you are around the world the fact is you to pray to the us dollar every day every single empire has also a looked like uniquely this time it's different this time they're also power fall nobody could stopped room nobody could stop you know napoleon every everyone seems like that until they don't and suddenly it's usually suddenly and then all that looking back it's like all the signs were there and then i want to look at part of what you're saying here and this interesting chart by divergence of s. and p. 500 and us nominal g.d.p. began and the age of alan greenspan any coincidence there used to be a relationship between the fundamentals of than and qana me i the g.d.p. growth your actual production of goods and services your wealth creation and the

stock market since greenspan and the intervention by the fed the activists fed who came in and the greenspan put that you would never ever lose money if you just continued to believe in the s. and p. 500 because the fed would have your back well you see the divergence really take off that you know nominal g.d.p. is to spend the same like slowly rising just leg old over the past few decades since alan greenspan but the s. and p. 500 is taken off doesn't care about earnings or anything like that i know because the g.d.p. is based on consumption and tied to wages am earnings an economic activity and manufacturing and things like better tangible the s. and p. is based entirely on the ability to as zeros to your earnings statements based on the money that's being given to you by your king god to federal reserve bank and and so there is don't come action and there is no need as i've said before that the

3 trillion dollars or so that are collected every year by america's internal revenue service to fund the budget is is not needed whatsoever they can simply print all the money they need it's a token amount compared to the amount of they print 16 trillion and they collect 3 trillion in taxes it's a now it's not it's a rounding error is nobody needs that money well these 2 are required just like the taxes make it feel real so if you didn't have to pay taxes like it's all of monopoly game but it feels real especially if you might face 1020 years in prison for not giving this money they must think it's really important and really real it's like gold and that that i think creates the helps them sustain this then money is not go doesn't go toward increasing the wealth of the nation it goes toward increasing the incarceration of a nation that's pretty much want to as you said in the beginning you tops of the world is our prison well i've done it again well we're going to take

a break and when we come back much more coming your way. the wisdom is the application of the bold knowledge you know group or your ways in novel con but if you learn a particular scenario being a class could be brilliant and you encounter that exact same scenario knowing what to do is just memory wisdom that's not learning it's just memorizing some wisdom comes when you are facing a brain new context and you can draw on tools to learn in other contexts systematically to know what to do.

welcome back to the kaiser report imax guys are time now to turn to account. of gold switzerland that com egon welcome back thank you max and a bit of a late happy new year to you right on your web site little piece called we just left the 20 tanned the stay decade a fantasy as you call it what is a solid bout the decade of fantasy and what's coming up in the next decade the decade of fantasy it was the day it was a decade the world managed to artificially or the world's central banks to artificially. let the patients who bought it for another 10 years which was

absolutely a lot longer than i ever expected was possible but nevertheless by printing fake money by charging 0 or negative rates for it they fool the world who are up for another almost 10 years what actually was 10 years. ago therefore we are at the peak of bubbles that we are at the bubbles. i think the 20s will not take until 29 like it did in the 190-0000 till the whole system collapses i think it will happen a lot sooner. will is likely to start is this year any time now the risk is at a maximum. things don't always turn when you expect to but it could happen it could happen this week could x. we or it might take a bit longer but i don't i don't see these bubbles last in for much longer this is banned the story for a number of years as you point out we've been talking about this for 10 years that

on a valuation basis on a price earnings base basis on historical basis the markets are over a value to certainly the bond markets in a 300 air bubble in the. not a kingdom it's in a 240 year high in the united states or bubble in the united states and yet there doesn't seem to be any end to this dad during the 10 years you just talked about there the federal reserve bank in the u.s. alone printed over 16 trillion dollars to keep the zombie banks and zombie corporations alive remember a lot of these corporations report no earnings at all they're only kept alive through stock buybacks and cash infusions from the central bank but my question is i don't see that ending anytime soon because the central banks could very easily buy another 15 to try to 20 trillion dollars worth of bad assets they all work

together that all the major central banks work together they don't there's no sense of competition in the world like david ricardo talked about in during the 1st years of nail classic economics it's all collusion they're all buying horrible junk and they're all working together and they have printing presses a so why would this and any time soon a things don't always end when you expect them to and we just said this bubble has been going on for 10 years you should have collapsed 2009 at the latest or 7 even if you didn't and you know the theory is very simple if you if you 2006 when the grocery store to world global debt was 125 trillion since then another 140 trillion has been printed so we are

around 20665 true you know and remember all of that is just it's bubbles it's nothing to do with real money and that money has been invested into main in the stock market is not going into the real economy so then manufacture. fake money and created fake well now i'll long you think the world can continue to live on just sitting there or on fake money and fake asses i think we are now i reached a point when that sheer weight of the debt will actually mean that this is don't call absent in the next it could be this year or a good obviously will take a few years but that the start will be this year now while you call fundamentally argue that it's going to happen now technically mark is now in the stock market because 6 stream evaluable are just what these yesterday. you know you are looking at a massive negative divergence on the new highs and the down the s. and p.

for example new highs in the stock market is not confirmed by momentum indicators now that doesn't mean that it will turn immediately but that means that the market now is at a very very high level of risk and for it is likely to sometime in the near term future i don't think that central banks can continue the game of fake money and fake assets you know let's remember that this is that they're printed under the 40 trillion roughly in the last in the last was in 13 years by that and that has created to the same fate as when i made a calculation in one of my articles to say that that extra. money that they have printed which which is is now 19 hours is 2006 that extra money of about $70.00 or let's say near 70 trillion. that equals

2 years oh and neil global output of actually every everybody in the world is 3000000 there are 3000000 workers in the world. today it was supposed to be 33000000000 workers in the world today and they're out over 2 years it was the money printing that we have seen since 2006 so the world has just created 2 years of our foot by printing money and that's why i'm saying that is not sustainable that doesn't mean that either fundamentally it will collapse today or tomorrow but technically in my view marcus looks extremely vulnerable on the timing . the cycle set of that i look we could have. talked in the market at any time. starting a downturn whether the downhill will be slow initially or whether it will start with a crash it doesn't matter risk is at

a maximum and from our point of view our company we look at risk we don't look at the follow file of rise in the market and trying to catch that we look at protecting the downs of because the upside is maybe a few percent the downside is 95 percent in my view i think that go if we measure at the stock market against real money which is gold because i think we are going to see the dow for example or the s. and p. follow around $95.00 at least against gold in but that's not that would only take it down to the level of the one. that is in the dow was one doubt equals one gold just like it was in or one hours ago just like it was in $1801.00 gold was a 50 on the dow they did that was their racial $1.00 to $1.00 also that of the dow gold ratio i think we're going to go down at least to one again and i think we probably go below one but going down just to one would mean

a full 95 percent of the day against real money go and i think that's going to happen now i can't say exactly how well but i think the risk is that today and i think you know people should be protected today saw the staff called on the. asters are suffering from this that i think all the investors are looking at this bubble really more out of curiosity because gold in fact says the air 2000 has outperform stocks gold in fact against every major currency in the world is making new all time highs except the us dollar gold in fasteners are doing great thank you very much so i think they it's more of a curiosity here because the stock market bubble fueled by all the money printing is really a once and no one's ever seen this before ever in the history of the world has there been so much injection of ersatz fake fee out money to support. really companies that don't make any profits the companies that are going public don't

make any profits they have no hope of ever making profits a lot of the listed companies 60 percent of the list of companies are not making appreciable profits right so this is a profit less prosperity fed by all this money printing they have the nasdaq up 40 percent last year but it could be you know on the verge of war in these situations like 1909 where you do see a final of blow off on the nasdaq another 85 percent jump in the nasdaq would be in keeping with the recent manias on your thoughts on that as we know market can extend. and we everything is possible but you know you have to remember max that the nasdaq is up 7 times is 2007 ton this is a bubble now we choose equal to the 2000 i did before because of the time. that. you were in the almost just before the

great and i think i can say is going to happen to more of course i can't but i can say that the risk is not a level which is totally unacceptable and should be unacceptable for anyone. most people will hang on just like they did in 2000 to 2000 to when the nasdaq fell 90 over 90 percent so i eat up people who now hang on i think they're going to lose the biggest part of their fortune or or at least a fortune on the wealth of average stock market so i'm not you don't get catching that last bit you know i remember every x. but everyone in the world whether they were. cattle station or gas station attendant or whether they were had threats or whether they were you know a wealthy person whatever everyone was an expert on the nasdaq in 1900 and everybody jumped on the bandwagon the last year and then they lost it all and that was in the next but to be found in 2001 or 2 when the market crashed and i think

it's not just sure you can have been i don't think it's worth waiting for i think we are it's imminent i might be wrong i am but i don't care if it happens today or this week or next week or examples in 6 months time the risk is there and as you said either the dow gold for example looked at the quarterly jar jar yesterday and the dow go on a quarterly basis has now turned down on the what is called m a z d which is a trending indicator you know that's a term that turned down is the 1st time in 9 years that he's turned i've been at going up since since 2010 and now it's turned down that is a very strong sign that the stock market is now are in real time against gold going to turn down to see that to me is very significant so i think we're there almost there and i don't really care if it goes up a bit because i certainly wouldn't recommend anyone to ride that but i know that

all investors are in the market today they're going to think that the fed is just just mentioned before they got fed and all the other central banks are going to continue to pump in money but i think the market will soon realize that this money you know this was there's no. money make money that they print it is just it just creating fake assets and therefore the money is fake and the us is a fake and that's what the world is going to be experiencing in the next few years that all of that money all of those fairly bad news i just going to disappear out of the market and it will be sad for a lot of investors and they'll be in much the well destruction i'm not a person is just reading risk and i'm just reading the markets and it's inevitable that this will happen in my view while this moving average of the i may say days are fast ending i think we should talk about that and next segment if you can stay with us well do another segment that's going to do it for this edition of kaiser apart with me max kaiser and stacy herbert like to thank our guest in. switzerland dot com if you want to reach us on twitter it's kaiser report until next time by.

the. i know. the world is tremendous.

thinks. dare to ask. for. our. own welcome towards a part of higher education prides itself on the quipping its seekers with the tools to optimally navigate the reality and at the very least to tell fact from fiction

but one of these snapshots of in itself is a myth an expansive self-serving and highly in the fact if myth well that's what our guest today argues as he takes on the ivy league universities which according to him don't teach what they're supposed to teach and charge too much for it ben nelson founder of the minerva project welcome to the studio and thank you for the time pleasure to be here thanks for having me now when you talk about higher education you always make a distinction between information knowledge and wisdom in fact you called your own venture after the roman goddess of wisdom which leads me to conclude that you believe you provide the latter but what about the rest of the system what do you think it's selling well what it's selling is not necessarily what it's delivering but if you go to any website of almost any university in the world certainly any university in the united states you will see claims such as that.