the stories we're focusing on today donald trump invokes a war. of urgency response to. forcing american companies to run production. shuts its borders to limit the spread of covert $96.00 the strictest measures in the blog correspondent reports from paris anybody leaving the team is also being told that they need. to stay. on the world health organization urges countries to follow beijing's example not impose tougher restrictions. as the situation in china.

a selection of programs the pending on where you are in the world. to see what is showing. how. this is the kaiser report day 17 of the big walk down and the chorus as the saying goes when the going gets tough the tough. as you can see here. put together a delicious coke of it kiddo cheesecake in my insta pot and this is what's getting me through this horrible global lockdown and other good stuff like that stacey yes max we have been talking about of course the collapse of the markets and whether or

not this can be like the great depression sort of error or in 1907 or 2008 because history often rhymes of course there are unique individuals and unique generations and unique societies encountering each wave of collapse all the way back to the south sea bubble so they're never completely the same but the human nature and human instincts are often the same just like a virus is often generally the same they become very deadly and then usually they somehow are defeated i want to look at some of the stories we've been covering and i know everybody is probably stressed out there where stress like it's not nice to have a pen demick go unfolding around the wall then it's not nice to see markets down 10 percent up 12 percent down 7 percent you know this sort of turmoil is distressing and the fact that we will have to shut down much of our economy for a month or 2 months is going to be a lot of hardship for a lot of people so it is

a serious situation but in terms of what we've been covering for the past 10 years we've talked about the death of the dollar and the ultimate demise of the dollar and it's not just targeting the united states it's not just specific to them it is about the currency system because we have been on a new unique experiment since 1971 where we're on an all dollar standard and we pointed out that on march 8th sunday march 8th the petro dollar era ended it was sunday march 8th that was the end of the petro dollar when saudi arabia flooded the walls with oil and cut the price of a barrel well even by $10.00 this past sunday. the 15th of march i believe was the actual and of the dollar when the fed cut on sunday night just as they had by the way in march of 2008 during the financial crisis in the beginning when bear stearns collapsed here we saw emergency rate cuts of $100.00 basis points down to 0 it took

them down interest rates down to 0 percent essentially and the markets tumbled the dollar is something we've been talking about for many years and it's the only store of value at the moment everything is collapsing against the dollar so how long will that last probably not a long time because. as we've seen during brain woods or through the plaza accord of the 1980 s. there's going to have to be a global coordinated sit down to rearrange the global 4 x. market where range the global currency grit and the dollar is not the thing they're going to have to match against because that runaway value in the dollar is what's causing this deflation and that's what's causing this global depression part 2 so they're going to have to rejigger the global currency grid and as all with they always come back to gold they're going to do a whole recalibration of the global currency markets against the against gold so that's the only way out of this gold has sold off magnificent leads hugely so it's

bitcoin because he's down 45 percent by one day last week so there will be turmoil it doesn't move smoothly look at the lady 810000 $945.00 that was a what you could call a very tumultuous period but in terms of the dollar yes it is stronger right now it is going up in many currencies this is something that we've been tracking for over a decade here and one thing people need to understand is the way one goes bust the one way it goes bankrupt i think is fitting to use the hemingway coat from the sun also rises and that is how did you go bankrupt gradually and then suddenly it always. it happens like that everything in nature reflects each other how does the pandemic how does the virus get introduced to the society and economy like the united states gradually and then suddenly that's the that's how exponential things work this is the same thing with debt we went we went bust gradually and then

suddenly it happens like that so i think we're going to see that if got the central banks are the main players in the global economy that's over the last 2025 years that's been the migration of all activity all global economic activity has been migrated to the central bank so let's look at the bank of japan probably the most important of the central banks of any of the central banks they've been out the doubling of their purchase of e.t.s. or stocks so my theory has been for a couple of years now that the whole markets are taken private so if the bank of japan or the federal reserve bank and other such of banks are going to print trillions of money what they're what they're doing with that money that they're not giving it away to build shelters for the homeless people that need it or the people who have just lost their jobs or need relief or hospitals know they're using it to buy back stock they're using it to take everything private because this fits into neo feudalism this is neo feudalism i would also posit that that could be the

gradually and then suddenly paradigm of looking at things it worked in 2000 to 2002 it works in 2008 to 2010 it might work now but eventually it'll you know it seems to work over and over and then suddenly it won't but i also want to point out one other thing about gold and about what we can learn from the pandemic because one thing we've seen across the world is panic shopping and what you know the fact is we knew for over 2 months we were already stocking supplies mid january late its 3rd week of january we knew this was coming a lot of people chose to not know. or they weren't told on the news or they trusted the government and they trusted trump saying it's just a hoax or it's not going to happen and it'll be ok and then what happened when they realized that when they finally dawned on them that in fact all those people were right that chinese style or italian style lockdown is coming and they spend panic

absolute panic shopping and you see empty shelves everywhere you see empty shelves virtually on amazon and other online goods shops so i believe and i could be wrong so you should do your own research but maybe the dollar will be maintained for decades further into the future but i believe that it's end is near and what will happen is no matter what the dollar price is at the moment of gold you will have the same exact situation happen in the gold market you were you could have prepared for this decade these years before the collapse but you won't be able to get any gold at any price anywhere in america in europe in asia and latin america gold is the toilet paper of the billionaire class in moments of extremest and panic they will panic buy gold and panic buy so over there already reports that shops are running out of gold bullion and silver bullion you know as we've been saying for many years the price of gold and silver is quoted in the paper market the futures

market doesn't quote the actual supply and demand on the ground market and so we are not being told through the price signals that there is a huge a demand already for a gold and silver and you know what i'm thinking about the stock market in the dollar is that i believe the dollar would have to come down but it has to come down through a coordinated global effort they have to shut everything down and recalibrate that's the only way they can stop it number one number 2 in the stock market with central banks just buying stocks in the open market imagine the following scenario stock markets closed and then weeks later they say ok for example everyone on. apple stock we close to $220.00 a share we're actually going to take a private and we're going to send you a check for $100.00 a share and that will be it you'll be done special stone longer public companies that own completely by private equity so they could just market down 50 percent in a giant leveraged buyout from a central banks ok that could be

a scenario there's no remember there's no laws that apply to bankers or central bankers they make it up as they go along and they could do anything they want they can do anything they want hoover did the same he did whatever the bankers wanted they tried to protect the bankers ultimately had an f.d.r. because we had hoovervilles we had that test where it came from hoovervilles hoover caused that crisis we could see the same mass homelessness hundreds and thousands millions of americans but at the end of the day all they have this paper all they have is that fia it's and the federal reserve protecting them we could have a situation where trump is force or whoever comes after him you know i personally don't have much faith in the candidates on on offer on the other side but we who knows these are extraordinary times we could have an extraordinary situation in november somebody might come up along and be the f.d.r. in this situation they might get rid of the bankers the bankers you know at that

time we had the pechora commission they were sent to jail they were capitalized and we might have another situation on fold after this so it's a depression and so the events of the past that most similar to the current one would be the depression and at that point when you talk about hemingway and his quote from for whom the bell tolls that was the sun also rises rate in the 1926 about the last generation right the last generation we said on this show a couple of times that the generation dizzy would be the last generation for a number of reasons the economy is finished and the ecology is finished it's a twin. ominous double eco catastrophe that is one of the themes of 1 the sun also rises of course or a child lying after wallboard one of the last generation came to age and world war one the z. generation has never not known war we've been at war since they were born in the

1990 s. late 1990 s. they had the crash of 200-2001 that had the crash of 2008 they had this crash and of course the war the last generation also had the spanish flu which is the closest to what we have now with this pandemic so the one of the themes is they actually rose the case and they were considered kind of listless and just slackers and and decadent but they rose to the occasion and that could be the situation now we don't know and in terms of by the way great depression and you said apple stock it could be the opposite because that's what the u.s. did at that time they revalued gold they doubled the gold supply the value of gold the paper value of gold and what happened you know that was to try to create inflation so they might do the same they might just say hey you own 5 shares of apple at $200.00 we're going to give you not one $1000.00 but we're going to give you $2000.00 for that the gold they confiscated it 1st you know they'll confiscate

your shares of apple and say we own it now you don't own it but we're here's 2000 go spend but the possibility i suppose well these are extraordinary times so all one can do is do exciting things by the way i might add like i hope you notice my props in the background because this is giving me hope you know the pink flamingo and when i say oh it's a cactus so you know hoping and dreaming that one day i'll be able to see the sun again yes the pink flamingo is the universal symbol of hope and sunshine everyone knows that cogitate on this pink flamingo moment and don't forget your kitchen escape this is what's going to get you through the crisis make it into the pot takes 28 minutes good like a brain. oh it come back much more coming your way. each simulating civilization will be able to run using

a tiny fraction of its resources. hundreds of thousands millions of runs through all of human history almost all. beings with our kinds of experiences with them to simulated ones rather than non simulated ones conditional not argued we should think fearful of the one of the simulated ones. you are no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi ellis asked i'm aware of it. leave for a day. all you like. and you can never forget maybe you can now auschwitz was really like to be inhaled because you would never believe it was a human can do it too as an operating cost for 3 years i'm open to the curb it. seems

a lot offered by your side to make it right when i get out on the farm saw you don't want to take my son to their next meal so he can listen and hopefully he can bless her. join me every thursday on the alex simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then . welcome back to the kaiser report i'm max keiser time now to go to craig campi of t f a metals report craig welcome back hi max welcome to a crazy 2020 point twenty's turning out to be chock full of goodies for stock junkies and precious metal watchers and news and politics observers

let's get into it so 1st of all apparently toilet paper is the new store of value paper people are valuing toilet paper. much higher on a program basis than gold platinum rodin am or any any other precious metal how to toilet paper become the universal store of value correct i saw some of that on twitter yesterday that showed an empty rack of toilet paper on one side of the aisle and a full rack of vitamins in pro immune system products on the other. bottles of mind but yeah toilet paper certainly more valuable than comix paper at this point we're all getting there it's really interesting max i think it's an education for anyone follows these markets that there really is a disconnect that has begun between the physical price and physical availability versus the price of the availability of these derivatives that are traded and somehow even though they have no connection with price even though they're not backed up with any physical metal or it no delivery ever takes place none the less

those that derivative trading somehow is allowed to set the price for physical trading will be issued to see where we go from here because the premiums that dealers are charging to acquire a physical metaphor and ship it out here are just through the roof i'm so all that remember the greenspan put you know i was working on wall street the 1980 s. after the crash of $87.00 the introduced what became known as the greenspan put that was replaced by the bernanke he put replaced by the janet yellen put and now we have a jerome powell play it this is the idea that no craft is too great that the central bank can't bail everybody out by cheapening money however jerome powell the current fed chairman cut rates by a full point 100 basis points a shockingly big. cut in rates and the response this time was a resolving thud markets crashing down that is this may van the site began at the central bank can make all problems go away are we just finished now

the era of the central bank put gregg reminds me of 20089 you recall how coming out of the financial crisis all of the cash that the central banks and credit all the extraordinary measures they took didn't seem to have an immediate impact during the crisis middle man once there was those purse proverbial green shoots that were shooting up in 2009 and i mean there was no looking back after that especially even in the precious metals same thing may happen here we get this virus under control you know whatever it is a trump just said it may be as long it may be summer before they feel like things are out of control we get back to normal whenever that happens you know it's not like the infrastructure has been bombed out. the plant the plants are all just sitting idle and so we may very well see some huge surge of economic activity when this is finally all behind us and all of this extraordinary measures the central banks are taking all of this cash may just go flying back and all these financial

assets so i don't know we didn't get much of an impact from what the fed did this past weekend of news that immediate impact man the long term impact of what they've done may be felt in the months to come and you know my friend you go back 220092010 when you were talking about crashing j.p. morgan by buying physical silver and we may be on the verge of that now finally because again people are figuring out that there is you know a price that's determined by trading phony baloney you know plastic silver if you well these paper contracts and then there is the real thing and we may be getting to a point in this kind of global crisis where people will finally demand the. real thing not allowed you know to be sold this bill of goods on allocute accounts futures contracts those are the garbage that isn't precious metal they made to be the real thing and you know there might be a positive change that comes out of this though and that's

a good point there is there is a delay in the impact that all this cash has and it is a tremendous amount of cash many trillions of dollars are being thrown at the market and then another 700000000000 in what i guess can be termed quantitative easing so quantitative easing is back in the mix and that's a lot of cash floating around the system in the hands of unaccountable bankers who like to hoard that cash and put it to use and stock buybacks mergers and acquisitions and best of consolidating their been optimistic positions across every sector in america i would imagine they'll be an enormous consolidation in the airline industry will probably say you know several airlines be taken over we'll see some more banks being taken over we'll see at the end of this a several private equity firms owning yet more of the operating capacity of the american industry held by fewer and fewer hands which is terrible for the hoi poloi

it's terrible for the guy on the street speaking about the guy on the street he they were talking about a $1000.00 per month check will be sent to every american for the duration of the coronavirus lock down according to some rumors that are swirling. what do you think about this greg you know every part of me never been a big head of the site via you know of helicopter money in modern monetary theory all these things that we've kicked around forever is being you know terribly devaluing to the currency but you know in this moment why the heck not in fact to be terribly unfair if they didn't do something like that you know i mean what i read a couple days ago that the hole that the central banks maybe even just the fed or can have to fill in could be 12 trillion dollars. it might be twice that but out of 12 trillion dollars for god's sake if they can't give let's say $4000.00 to $50000000.00 people who w 2 less than $50000.00

a year and have no savings my math is right $4000.00 to $50000000.00 people is only $200000000000.00 they're talking about 12 trillion that's 60 times as much man a think it car off 159th to find some relief for people that work in bars and restaurants and all the sudden can't make their rent then for god's sake i mean maybe it is time to grab the pitchforks and in storm washington. oh i don't know this this is such an extraordinary time max people ask me they say well where do you think you know support lies and where do you think the markets will turn i say man i don't have any charts that go back to 1800 in 100-9000 the last time the world dealt with something like this i can't look at the commitment of traders reports you know and say well you know when this happened and we finally reached a low i mean even these optimistic forecasts of your well the day we get back to normal by may or june who knows if that's going to be right and so i at this time what i've been telling people my side is just you've got to be prudent you've got

to be prepared to shelter in place for a while and if you don't have some physical gold and silver you know is never a bad time to get your hands on some because if this all plays out and if suddenly this banker scheme for how the metals are priced which is now becoming apparent to more and more people by the day. that type of i guess we call a reset maybe an outcome. if i would be if it did make a good point there about this universal basic income equivalent the helicopter money the $1000.00 a month given to americans because the american consumer has her roic lee and gallantly put themselves into massive arrears accumulating enormous debt by shop. themselves to near extinction to keep the billionaires rich but if they all die on mass whether it's moronic virus or the bankruptcy and

related problems associated with that and the billionaires would have to for the 1st time in 50 years get real jobs right they have to actually do stuff instead of just being a ron ca vampire sucking the cream off the top of the economy so they've got to keep the suckers alive i remember working on wall street the saying was oh as sheer member slaughter this meant to say that when you have a bucket customers you just shear them periodically month after month but you never slaughter them because you don't want to kill the golden goose as it were and that's the way the bankers have created america for decades and they're at risk of killing our slaughtering the golden goose of the maniacal american consumer speaking of precious metal and priceless covering silver has gone down to black 11 year lows it's almost an i think it did touch single digits what is going on i guess i'm choking on the words that come out of my mouth i'm in such shock right what happened to so over max i will cut monday morning and gasp i mean it is

laughed actually when i saw it trading at 12. look i've been trying to tell anybody that would listen gold and silver are your safe havens jet i mean for millennia they are money they are protection against you know this type of thing what is not a safe haven are the gold and silver futures contracts i mean they're being just liquidated by hedge funds and other large institutions or the like that that have margin calls from other parts of their portfolio and so if it has a bid it gets sold and so we've seen the price of these derivatives you know it's 'd true that it's made by the exchange of these derivatives on the comix fall to $12.00 but you can't find full. ical silver for $12.00 most the dealers are sold out. if you can find a dealer to sell you some they're going to charge a premium of $4.00 to $6.00 maybe even $8.00 above that paper price because they

know how the how the heck are they going to be a manager own risk of trying to acquire physical to send to you once you buy it so that's i mean there's this disconnect happening now and it's very educational for a lot of folks that i guess never really taken the time to understand it that there is a price that's determined by the trading of what are basically baseball cards and that's allowed to determine the physical transaction cost and i think people now are seeing the real disconnect it's very educational and if we finally get to the point and the maxxis gets back to the press j.p. morgan campaign we need people around the world to say no no no no i'm not playing your game anymore mr baker i'm not buying the e.t.f. i'm not hold my metal in iowa kid account in switzerland that all that stuff i want the real thing right now and call these people to the carpet and when that happens finally it may be about to happen finally that's when the system will finally be forced to adjust and shift to an actual pricing scheme where i have cash you have

metal and we exchange it to an agreed upon price none of this just you know flipping a big derivative contracts instead imagine the crash j.p. morgan by summer campaign at the time and this goes back 220082009 somebody had a meant actually produced some silver rounds with that logo on it and i think last time i checked on a bed i try to get a 3 to 400 percent premium so they actually held their value over this decade you know it's interesting over there at the comics we've been playing for years and years that it's over leveraged that they have sold forward hundreds or thousands of millions of tons of sulfur that not only don't exist but are not even recorded on anybody's ledger as being part of the callbacks. exchange itself it's complete phantom selling and yet this is what is being criticized by wall street critics are saying look there's too much leverage in the system no one seemed to

care that the summer market spent over leveraged by a 100 to one for the last 10 years but what if there was a run on the co-ax finally cry camp if that's what you're talking about we've got about 30 seconds i'm not sure about a run on the comix specifically i'm just talking about the whole system from london to switzerland to dubai replace else that exists on this kind of just in time delivery of physical metal that is kind of pretty it is priced off of these phony baloney contracts so if people just lose confidence in that system lose confidence that they can get their medal a timely manner then maybe that system finally begins to fall apart that's room for max you heard it here 1st craig hampton of j.f. metals report has said categorically that silver is worth more than toilet paper and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to think are gas prices empty of its if not all reports if you want to catch us on twitter it's kaiser report and so next time.

a fairly significant portion of that a little there was and was new york at the saw on the internet to start with and shirts for the cheapest we are stuck in a coffee and i mean the city's full bore for your program now don't i do it isn't done for bush but i will push the car so for the sure i mean he got us no sure the answer so. yes. right. right he counts their soft.