markets have given a corona virus and epidemic a pandemic the pandemic that won't be called pandemic because that would require more q.e. that is not q.e. of course so you know i do want to say as you can probably tell we've been in mexico we've been in las vegas and we're in los angeles out in the suburbs where brady bunch was films and the thing is that i noticed while travelling is how amazingly unprepared most people are basically your face doesn't stop anybody i see it all around me as we're child and sneeze into there and then go to the toilet on the plane open the door and there's everybody on this plane in fact if you're infected so it's so simple but most people are also more simple than the simple coronavirus that is spreading and killing people yeah i've seen people trying to open doors with their checks and that's also very don't do that either you know before it started to spread in the united states we had larry kudlow who is in the

president's administration as the economic advisor and he was saying that the current virus is contained and don't worry and secretary of state pompei also had this to say update u.s. secretary of state mike brown peo on tuesday demanded that iran tell the truth about the corona virus outbreak in the country voicing alarm at allegations of a cover up i want to particularly use that as an analogy for the rest of these headlines here because this is that you know the secretary of state of course presides over an empire of debt and a lot of that lies started with covering up the stability the fragility of all that debt over which we stand so we're going to look at some headlines after that but what do you think max about what secretary of state pump aoe said look i mean what we've been saying on this show for a few years probably all of 10 years is that no problems ever been. put forward

into the public consciousness that could not be solved with more money printing and no matter what happens the there's unrest somewhere there's there's civil discord you know just print more money now we are asking ourselves will the coronavirus be bigger than the ability to print money than what we've been seeing in the last few days is this idea from christine lagarde she's out the european central bank or policymakers in washington d.c. they're asking themselves should we print more money how much more money do we need to print so they're trying to battle a biological virus with money and of course what we've been saying now for a few years now and particularly the last couple weeks is that a biological virus has no natural connection to fia money does it stop does it make any sense but these policymakers have grown accustomed to the idea that every single problem can be solved with money printing why can't we solve the coronavirus of money printing the market now is starting to scratch your head a little bit and saying wait a minute that's in the same so therefore valuations look like they're going to be

marked down already in correction territory on these markets down 10 percent are going to have to bear market valuations down 20 percent probably i think the likelihood is extremely high already have a 50 to 60 percent drop that's probably a 10 to 20 percent probability yeah indeed and by the time this air is it may have been down 20 or 30 percent by that point so you know we are here recording during the coronavirus apocalypse one thing you know for sure after the apocalypse not only will the cockroaches survive but there will be leaf blowers always there blowing leaves no matter what sort of chaos is happening around the world you could hear them probably in the background here but what's really scary is when cockroaches are operating leaf blowers that's when you know you've kind of the end game but back to the story that i was talking about of secretary of state mike pompei oh saying that you know the biological virus that we have of this corona virus you know iran covering out was a bad story obviously. it is i think transparency is the best option and

transparency is the best option for the viral debts we have and the situation there so i want to turn to a headline that probably got overlooked and did indeed get overlooked but jamie dimon we're watching you we keep an eye on you even during the apocalypse j.p. morgan plans to borrow funds through the fed's emergency lending facility and an exercise designed to break the stigma attached to that program. we're just doing this to break the stigma we don't want to have people who feel bad about having to go to the feds emergency borrowing window we're just doing this for the good of everybody right there was virtually no cost for years of jamie diamond to take money from the central bank from the but they did put it through some layers of denial so they could say well went through the primary dealers 1st or there was some machination involved that was part of an economic policy that we're pursuing it wasn't just a freebie it was a socialism for jamie diamond it wasn't

a gift to jamie diamond but they have destroyed all the money that's been given to j.p. morgan they're technically insolvent right they have probably 5060 times more debt than they have any book value or equity so but now jamie diamond is so desperate that he's just saying just drop the pretense a word frick i'm starving to death from the equator if you don't give us more money right now i'm going to do something really rash like go on t.v. and run for president well in fact jamie dimon could be like and i believe if we're talking about iran and covering up coronavirus remember the vice minister of health was standing there speaking to the world to their state press rubbing his nose it was running that classic there's 2 symptoms of coronavirus common across all nations runny nose and sweating fever he's wiping off all the sweat and running his nose into his hand and then shaking hands jamie diamond is that person right here saying. no we're fine where there is no coronavirus there is no banking run going

to happen no we're all fine we're just coming to the emergency room window just because we're happy we just want everybody else to not have the stigma of being afraid to tell everybody they have coronavirus iran is a religious market fundamentalism versus a market fundamentalism of what jamie diamond's talking about is the cult of money versus the cult of theocracy and they're both 2 sides of the same coin they're both in massive denial about their supposed superhuman strength to live somehow above the vagaries and contagion that represented by viruses and in this case you know they're going to have the same outcome total economic obliteration and the rise of bitcoin it is quite fitting that we're out here in los angeles hollywood of course is the land of denial and you know you've had many famous characters throughout history with as big a hair as mine today and i look in very hollywood and you know this system of

denial is not just one country it's not just in iran and it's here and again here's another tweet about this story as they as j.p. morgan is announcing that they're going to use the emergency window just for preannouncing this because everything's fine but we just want you to know we're going to use the emergency landing facility just to remove the stigma j.p. morgan executives say bank is big enough to weather any storm so again they're doubling down they're letting you know they're just like that vice minister of health in iran say that telling the people he was literally saying there is no worry about coronavirus it's not really here it's not spreading in iran as he is like having an episode of coronavirus episode live on stage and it's the same situation here right so it's like no problem again it's a real care a recurring theme everything can be solved money printing jamie dimon believes that we're not yet at a crisis point where his ability to for cinco worse. the federal authorities the

central bank treasury etc to print print print we haven't gotten to that point yet he said entrenched. and he has the ability to paper over every single mistake and he doesn't feel like we've got him although i will point out that over the past couple of weeks we've had an enormous purging of c.e.o. if you look at these s. and p. 500 companies there are an enormous amount of c.e.o.'s who have retired like bob iger or disney and a bunch of others because they are totally vested they are running away with all the money now they realize the end is upon us and they're just running for the hills now my feeling about all of these lie is that it's part of our globalized. of on the one on the one hand you have these just in time delivery so. the supermarket shelves are only stocked. like to what their normal day is and then you're they rely on like a steady stream of delivering exactly when it's going to be needed that works great

when things are fine you know the volatility formula that has been finest and steady china's been delivering there's been no disruptions in oh everything is great until it suddenly not i think that's part of the reason why china 1st cover it up because they don't want you know being the supply chain for the world the only supply chain for the world for many parts has been good for them and i think they recognize that oh if we have to shut down all these factories other nations are going to realize they can't ever have this situation again in the future and so they would be displaced the same with this banking system as we know it's a as we know with the repo market by the way it's just in time you know the liquidity needed is like needs to be conjured up out of thin air every single night by the fed this is part 2 of the global financial crisis the start of in 20082008 was the white paper for. coin in 2009 was launched and now because of all

experience part 2 of the global financial crisis is already close to $10000.00 a coin this is the this is the global financial crisis that'll catapult the price 210-0000 beyond i change my target from 800-002-4000 extension 02 keep pace with gold you know gold is struggling because jamie's got his bum on the scale doesn't mean all those banks they know how to manipulate the price of gold with bitcoin is clear sailing all the way 210-0000 beyond well speaking of jamie dimon he's in this final headline and it ties together with the fantasy and dreams and real reality and unreality and all that sort of stuff jamie diamond had a dream that the coronavirus killed davus attendees he said i have this nightmare that somehow and doubtless all of us who went there got it and then we were all left and spread it and the only good news that from that is that it might have just killed the elite right he's going to fusing the coronavirus with the bitcoin buyers same thing with peter schiff their minds are being hacked by the protocol by the

big client virus soon jamie will be jamie dimon to be blathering idiot on the ground begging the feds for money to buy bitcoin he is going to turn into a kind of a street urchin same with peter schiff instead of sunset boulevard it will be park avenue where he's babbling and i want to say we're going to the 2nd half and the 2nd half has an epic interview with ptrace mayor max you have anything final to say in the last 5 seconds here about ptrace mayor and so this is the last interview with ptrace mayor before he goes full colonel kurtz completely off the reservation a bit mad and it's a story anyway don't go away much more coming your way. join me every thursday on the alex salmond and i'll be speaking to the world. war. i. i'll see you then.

yes well this is how the.

why do we go to war because. the key to economic growth is oil and energy we go to war is vice president cheney said for the oil that's why they invaded iraq for the oil that's why trump says the one thing we want syria we really don't want to go to war with russia we want to just control the oil. and the gas and the pipelines through afghanistan so the military is really an extension of controlling a world of energy and oil. welcome back to the cause report imax keyser time now to turn to trace mayer a bit coins g. trace welcome back oh thanks so much max it's going to be here all right i was just thinking you know if there were ever to create a mount rushmore of bitcoin you know you might be on that yet adam back next wadeye

we've got lots of great contributors to this project so you really are one of the founding foundations of this whole industry i must say so you know i have some questions here now i was going to run through them but i thought you know what let me ask you something what do you want to talk about you know your you on the show because you're trace mayor what is the most important thing that's happening right now in the big coin space from your point of view i think we are entering a new era or a new stage with a lot of money and capital government server learning to recognize a wyoming we have the speedy bank regulation the special purpose depository bank the talk about wyoming because you've been there with kate long oh yeah it's been an enormous initiative and they are a state that wants to do for big coing what delaware did for d.c. corp they became the destination for corporations to incorporate and that's a huge money flow for them wyoming if correct me if i'm wrong but they see this hey

this is our chance to be a dippy the go to destination in america is that correct and what's happening yeah i mean wyoming created the l.l.c. for example and they are having to compete with new mexico and nevada and delaware for that i mean these states they have sovereignty so they might as well sell it that's their product right and so wyoming's decided that they want to. have property rights and property rights with digital assets so that you know we've we've got 13 pieces of legislation that have been passed by the legislature signed into law by the governor so this is a law of the land passed by a sovereign you know what state of wyoming and it defines. pretty rights and we also have a special purpose depository bank that gets created for a full fledged bank so under the rico neil act you get these national bank powers and you can custody digital assets so you know if a pension fund wants to invest in digital assets how are they going to do it if

like the f.c.c. one of the big issues is custodianship on an e.t.f. how are you going to do it you've got to have property rights well property rights are state issue so that you need to start defining the property rights in the legislation and so that's what wyoming's done the way i've looked at it and why i've been so interested in it is you know we have big cohen core we've got the network with all the proof of work behind it it's a technical fortress that's just impenetrable i want to build a legal fortress around. the technical fortress and so that's what we were doing we're working on those types of bills to close a tax surfaces an attack vectors from what regulators lawyers attorney and anybody else is trying to hack your big cohen through the legal system right right so let's talk about this the regulators and the states are now coming out their own crypto coins the i.m.f. is talking about they need a crypto coin. in washington d.c.

is the treasury secretary he is very vocal about his views on because these days so the people in the right places are the highest places are starting to respond and then you have on the corporations as well what facebook's coming out with their leaper a coin so suddenly because it is not alone it's surrounded not only by the so-called all coins but it out now you've got regulators you've got state actors you've got some troll banks everybody now is jumped into the pool where are we in the game theory of all this because hardcoded in the genesis block is this beautiful. will balanced protocol where nobody's got an edge over anybody else but the more you try to attack it the stronger it gets that's the honey badger what you have now my honey badger the shirt on don't have my suit on like usual oh we nearing an inflection point where states have to decide either

a we're going to fight and lose this battle or we're going to join the battle what do you think yeah i remember back in 2014 we did the show and you were asked me about the game theory with russia and blah chain and now now we've got central bank digital currency being active we talked about we have some states wanting to issue we have the chairman of the federal reserve talking about this stuff we have the treasury secretary and wanting to probably bring the hammer down when it comes to the travel rule we've got potential constitutional challenges and i think rule is about break that down well the travel rule is where you you have to win when financial transactions are sent between 2 financial institutions you have to attach personal information on sender and beneficiary basically which you know network doesn't care it doesn't attach any of that to it and and so the bank secrecy act is

what requires a lot of that and we have potential constitutional challenges to the bank secrecy act caitlin's actually written an article on on those potential challenges so you know it's going to be very interesting just seeing how all of this plays out and really like you're going to make math the legal way you're going to make innovation illegal like what happens of all the amazons and the googles in the face books and the twitters get built in beijing or shanghai what's that do for us national security let alone like the financial innovation i mean where it's disrupting the largest part of the economy i mean the money is 50 percent of every transaction this is a huge huge deal that's going on and where we live in rehab. nation right like. to be taught to be clear the real hypothesis re hypothecation nation is great britain where if it infinitely happy as possible but here it's pretty bad and it's currency you know and they're all the dollar at the end of the day just different heads if there's a british pound or

a yen or whatever because it's all you know how bretton woods kind of set up the architecture of the stuff. and that's going away innovation is happening like we have something strictly limited amount that you come to distributed consensus on right else you don't talk about the content of fact you know the money printing that goes on it goes to asset buyers 1st and then suddenly their assets are worth a lot more than that rate of money printing that's going on and they think actually that are deflation because the cost that they're borrowing against their asset is a lot less to buy a bag of donuts than the guy oh down the pike down the road when all this and grabs at his doorstep when it's 5 times the price that it was a month ago so when you have and it's a transfer of wealth right and it's from it's political currency being used for political benefit of different parties to the detriment of others right and it seems like it's also a reflection of an antiquated infrastructure did a lot of that distribution of money goes back to 200 years ago 150 years ago when

the that style going to primary dealers primary floated out the banks etc with block chain you know you got new money being created distributed simultaneously on the chain to thousands and every 10 minutes now it's all over the world right that seems like hey man that's a lot better than having of the federal open market committee meet decide where interest rates are going to go being politically pressured by the president to do certain outcomes and then the distribution model somehow always without fail ends up in a hedge funds pocket who buys a an apartment in park avenue for $200000000.00 that seems so obviously out of date and non workable disaster on the financial infrastructure side well you know they like their paper franchises. they're able to engage in confiscation their inflation that's a form of taxation without representation or due process of law they're able to erode the human rights and civil liberties of the individual and make these despotic inroads and so they're able to transfer a bunch of wealth to themselves all because of the use of political currency versus

the monetary metals or commodity currency which stands as a protector or a guarantee of these individual rights and so that's really the issue are the people going to have choice and control over themselves and their money or are they going to have that choice taken from them and imposed on them by political and financial elites and it's a binary outcome because we're now in a digital age was the eurozone once you know in antiquated infrastructure wire transfers was that come from telegraph wire telegraph along the road i mean this is ancient technology almost we don't need it anymore we can innovate this binary outcome you know reminds me of liberty give me death right i mean there comes a point in time when a population has to decide if they want to move forward as free individuals sovereign individuals or succumb to the state and are we at an inflection point in the united states and elsewhere around the world where we're going to come to kind

of conflict the conflict if you will between those who want to impose their will getting rid of our rights well the the conflict has been simmering under the surface for well over a decade in the open since the financial crisis it's erupted into protests all over the world hong kong chile you name it people are protesting and. the critical question gets posed repression or regeneration. which route are we going to go and if you go down the repression route which it seems like munch and that's what he wants to do right let's come down with the iron fist well what how did that work. in history well you had the french ask and they made it illegal under pain of death to use gold and silver but there were shortages of food and the response were the guillotines with tens of thousands of political elites like losing their heads like done right. and then you got robespierre so that the you know the french well

i just kind of traded one for the other but the u.s. you know you had these general writs of assistance you know check this box on your tax return put all this information on here and we just get to engage in all types of warrantless surveillance it was these general rich of assistance that just inflamed the american people in order to collect the different taxes and stuff and how did the american people respond you had the constitutional revolution you had the declaration of independence and then you had the bill of rights you know unreasonable searches and seizures and then you had the $792.00 coinage act and in section $1000.00 what did they put in there anybody who's who is a employee of the federal government in the meant that debases or makes worse the currency shall be guilty of a felony and shall suffer death. it used to be us law to get death

as a penalty when you're a government employee tinkering with the with the money to debase or make worth it make it worth this or is this not the primary reasons that the us is anonymous and probably i mean why this is a this is a powderkeg right because like it's the money well martin luther king the marches were great right the marches were great but what really changed for the boycotts the boycotts hit them in the pocketbook right that's what really begins to change tough is when you change the economics and change the money and you change where the cash is flowing december gandhi would mark yes he makes salt yam pire and you know we talk about russia as you mentioned 2014 and what this could mean a different country to the 2020th that is going to be the year of latin america south america and we just went through argentina brazil venezuela these are countries that where the adoption rate of big coing which is readily available that is skyrocketing argentina it's off the charts people we've just got and what is there is people are in mexico city by the way you're well known in mexico city you

know there's an address on topless and trace where the 2 the saints of this movement in mexico city and. you see that i mean this is a way for them to get out of this fear of misery yeah you know they i so i've gone to pretty much all of the latin american vehicle in commerce as went to the 1st one the 2nd you know. rio de janeiro brazil mexico city bogota colombia santiago chile i made probably at least 20 or 30 trips down to south america to help educate and bring big going back all the way to early 2011 because you know south america is such a powerhouse in terms of natural resources and everything that they've got and yet they have imposed on them and. communication systems and like archaic. financial infrastructure they wouldn't they could have so much wealth i

think they get it if they really get it we're down there they get it this is where the revolution is going to trace where thanks for being once again on the kaiser report thanks so much remy all right well that's going to do it for this edition of the kaiser report with me max kaiser and stacey i would like to thank our guests trace mayor if you want to catch us on twitter at kaiser report until next time. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. and spearing dramatic to follow can only really i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk.

seemed wrong. but. just don't. let me. get to shape out these days become educated and engaged equals betrayal. when so many find themselves worlds apart we choose to look for common ground. he's now gone for a good 50.0 musical number 2 number one with no kids who didn't complete the moment for moment don't going to. see him all the good that you did on the bus and that of all to singapore to almost impossible for all since he was in the uk of the guy younger than him all day long simone. at that is with us and i go from a pretty long that he would love that there's not

a natural place to play there's a. message that motivates you all to see the perceived looks and some of it to get up the off also go to show some. locals that would put him in a nice little leisure a little musical with the most from. the new. one you pull from the supernatural mean august.

the escalation in syria will be the focus of talks in moscow between the russian and turkish leaders this thursday stage and fighting's not only both left forces closer to a direct class of thing turkish lawmakers blew. all in parliament. turkey claims greek forces opened fire on refugees at their shared border the into the death of one man reached strongly denies the allegations unrest thing creasing off the allowed migrants to try and close that into the movement. on the new front runner in the u.s. democrats race to take on donald trump or joe biden sweep super tuesday but he's facing a cloud.