tension from the air but i've been observing women for a very very long time and that was my my observation i could be wrong now will move into the serious side of the program because we have to cover the fact that we have a global pandemic everybody is on lockdown max and i have been on lockdown since for 29 days many people are just in lockdown for the last 2 days or so so we have many many weeks apparently ahead to go and what we have noticed is the theme that we cover all the time on this show is that there is always a banker always a c.e.o. or always a corporation ready to plunder whatever they did even in the good times but in the bad times especially so we're seeing this passage of this 6 trial in dollar we don't know how many trillions actually we'll find out later some time remember back in 2008 when we 1st started recording it was like we want tarp $700000000000.00 you know now it's like trillions and you're like ok whatever nobody can even make sense of it now i want to look back to this tweet somebody sent which was reminding us of

during the 2008 crisis when we have the oracle on b.b.c. this is my earliest memory of max throwing worthless at the black hole of debt yeah well you know never feed a black hole of debt you know and this is what the strategy has been now for 15 years it's actually goes all the way back down greenspan that there was a black hole of debt inside the economy because there's no accountability in the banking sector because of all the rules that were got no rhythm during the clinton administration then during the bush administration and during the trip administration all the all the checks and balances for banking industry types of been removed so the debt has been growing and the solution is to kill the black hole of debt not to feed the black hole of that so 6 trillion dollar bailout money is feeding the black hole of debt that's just more debt the national debt in america is going to become more than 100 percent of g.d.p. it'll be chillen a percent of g.d.p. it'll be 300 percent of g.d.p. and so the. dislocation and the mispricing and the economic stress will only

continue as long as the solution is to continue to do the same thing that created the problem and that is to create more debt part of why we are so vulnerable and why you're seeing the global economy have to shut down is we financial is the entire global economy and it's all driven like private equity and one thing private equity does as you know from the eighty's if you have any cash or any pension sitting on your balance sheet they will swoop down and take that and give it to themselves load you with that and take your assets so therefore we this is part of our issue we have with our corporations in america have very little cash on hand because either you have to go large like apple and warren buffett or you've got to have like just load up with debt because if you have cash they're going to take it from you that's the thing about this debt is that when you use a word like financialization what does that mean it means that anything that produces an income like let's say you're in the prison business or in the hospital

business or you're in some utility business anything that has a predictable income stream you can go to wall street and they'll pay you 102030 times the value of that asset that is generating that income in the form of debt and then you take that debt and you do a few things with it that are all equally bad one is you buy back your own stock that's fraudulent used to be illegal and it's stock market manipulation too is to make terrible investments because you're yes actually getting free money so you make mal investments and you invest and boondoggles and investment things that don't work if it's the government you invest more that don't go anywhere but make a lot of people rich and the list goes on and off we have also been warning people that gold is the safe haven gold and big clean are the safe havens and most people think of that and say oh i'm going to make money i'm a speculator i want to make morphy out. what we're talking about is like when this system falls apart when there is no more central bank when there is no more government as we know it that is when gold and picc line that they don't need

those institutions to bequeath it with value then these are outside of the system that is falling apart and we saw all of this in the beginning of this week we saw all those 1st a huge move in gold on monday it was like $80.00 which was the biggest dollar move in history and then the next day it was like $125.00 but breaking records again so we're going to see records being broke all the time as the system unwinds and you know of course we're going to go into that right now with what might have happened because of course nobody knows a lot of these things about this pandemic in terms of the virus but also the consequences in the financial system which is so complex nobody knows what's happening but there are some theories about what happened with gold earlier this week and i want to turn to this tweet from royce the bog of gold money dot com i've received some important information relating to what's going on in gold markets

today some banks fail to deliver physical in the comix far f.p. as a result these banks suffered large losses will soon be announced they've also decided to exit the comix market now there remains a big shortage in physical and the comix to nomination so rumors are the comix will announce a force mature and allow banks to deliver l b m a r s instead this should be announced imminently and then of course right after that that c.m.e. did announce that you're allowed to accept l b m a bars which are $300.00 ounces versus $100.00 ounce bars at a c.m.e. ever since we talked about a crash j.p. morgan by so over the financial eyes world is over leveraged and they have made claims against gold and silver more than the exist than supply of gold and so over . and if the only reason why this doesn't crash already is because they settle all their trading in paper not in gold and silver but now with this new crisis the new

chapter of this is really 2008 crisis park to call 2020 the problem with having too many claims anonymous gold is really hitting the markets in a serious way people want their gold now because they realize that the fear money world is collapsing and then they go to get their gold and these exchanges where the cold max or al b.m.a. are saying no we don't have the gold actually relented out of here and so that's causing people to say want their gold even more than all the countries that have repatriated their gold ever since we told germany that they don't even have the gold on their own soil then they repatriated their gold now everyone wants to repatriate they want their gold back and so the physical price of gold is now zooming higher and the paper price soon will become a meaningless price it's like the black market a lot of these countries were in the dollars or $1.00 price and the local currency is another price like venezuela the venezuelan ball of ours x price but the black market value dollars is another price same thing with physical gold versus paper

gold what we've been saying should happen for years is happening the coal backs on the l. b.m.a. are collapsing and that's what we need just so you know e.s.p. means exchange for physicals so people were converting their paper into physical and the physical was not there you know this is part of the supply chain issue as well we see all over the world that the c.m.a. did blame coronavirus of course this will be blamed for a lot of things and it could be true i mean the other supply issue of course we're seeing and i've been monitoring this is looking for toilet paper on amazon we ourselves have plenty but i've been looking just to see because i was mocking people who are out hoarding thinking well america produces 90 percent of its toilet paper here we actually manufacture it that's something we actually manufacture and make sense because we have the u.s. dollar. same thing however $1011.00 days now on amazon i have not seen a single roll of alice so you do wonder like wow like what what is going on in our

supply chains and how complex a system this complex system by the way is being taken down by a very very simple coronavirus you know the flu is way more complicated than this coronavirus i think it's like 4 strands of r.n.a. it's so simple it's parent leave the code for it fits on one single page and this simple simple little tiny virus is taking down our hyper complex globalize just in time system yeah i think the cover 19 is written in perl and the flue is written in c. plus plus or the other way around or the other way around you know some code is welcome there are going to be all kinds of comments i just told them. but you know this is a fulfillment of my life's work one of my goals in my life goals is to crash the comics and they'll b.m.a. that's been a life goal of mine for 30 years and so i'm so over 19 it's tragic but i am achieving some life goals so of course all the chaos and panic we won't get answers to this but the follow up question from royce the boss on this was a few m a p

r is out there propaganda 2 important facts have been withheld one which banks were short $16000000000.00 more physical than in c.m.e. vault and required a bailout and 2 how well b.m.a. metal in london be used to settle the livery in new york during coded shut down another sad day for so-called free market right the g.l.d. which is the symbol for the exchange traded gold surrogate that you can participate in gold it's tricky because you're not in the real you don't have a direct claim on that goal in the directs the the way that the prospectus is written is that you would could be settled up with your demand in paper not actual physical gold sprott up in canada does have a nice t f that is back with actual physical gold people can check that out and gold money of course you can buy it so one of the only places where i must say. there are investors but there it is where we are able to buy gold so they still have gold and regardless of the price of scrap and see between physical and paces we're smart he

saw this coming he's ready to go yet of course we've covered that before so i guess we head into the next time you see us will be day 32 of 1 a lock down and my hair may be very different and so i might try cutting it or are dying in or something like there were no friends down south of there. don't go away coming back right after this. a dark industry comes to life in los angeles every night. dozens of women sells their bodies on the streets many of them underage. los angeles police reveal a taste of their daily challenge no if you're going to exploit for a child here in los angeles all they were going to come as you would see officers going undercover as 6 workers and customers to fight. believing in weird things by the way is called superstition or magical thinking

believing weird things like that is not a bug in the system it's a feature it comes equipped in the software of our programming to try to connect things in the environment just in case there's a real connection. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race off and spearing dramatic to follow only closely and going to exist i don't see how that strategy will be successful very critical time time to sit down and talk.

welcome back to the kaiser report imax keyser time now to turn to an old friend of mine chris fenton and los angeles california he's got a book out right now it's very timely it's called feeding the dragon and sod the trillion dollar dilemma facing hollywood the n.b.a. and american business chris welcome to the kaiser report thanks for having me back i'm a big fan and it's nice to reconnect with you after all these years yeah it's awesome man this pandemic is the best thing ever anyway chris fenton on october 4th 2019 they general manager of the houston rockets tweeted support for protesters and hong kong this resulted billions of dollars of losses for the n.b.a. which has 500000000 fans and china so tell us about what the n.b.a. story tells us chris yeah well that was actually a very relevant day for me i actually was at my kid's soccer game when i when i saw

the tweet come up on my phone i didn't even know who daryl morey was but i obviously know who the houston rockets are and knew their importance in the u.s. china cultural and commercial exchange and in particular to the sports industry because yao ming one of the most famous basketball players bought time and definitely the most famous ever out of china played for the houston rockets so when i saw that tweet come up i thought to myself oh my god that's that's going to be very painful for the n.b.a. . what was interesting though is i had i didn't even ponder for a 2nd the ramifications that tweet was going to have here in the united states of america it was actually right as i was finishing my book too so i had i had the main mission of the book that i had written and it was pretty much and in the form it is today. was to write about the fog of war of cultural and commercial

exchange between the 2 superpowers and all the different colorful exciting dramatic crazy sort of events that occurred during that exchange and the importance of that exchange in regards to keeping the 2 superpowers in communication with each other so that we don't move into some sort of cold war scenario where we're not talking to each other and we're actually escalating tensions between each of us so when that tweet came out i remember thinking wow that's going to be a problem for the n.b.a. but actually plays really well in that the mattocks of my book which is hey the n.b.a. has actually been playing this very well they've really opened that market michael jordan and david stern david stern the former commissioner passed away recently and michael jordan obviously went there in the early ninety's really opened the market to american culture in the culture of basketball which really opened the whole

market to the sports industry which nike and several others followed into. so i thought wow that's that's sort of an interesting relevant to a bit to my book what happened was that it woke up the american populace to the fact that this smart innovative strategic way of bringing china into the fabric of the n.b.a. in order to open the market more more. with more vigor was actually seen by the american public as a form of pandering to the chinese government and awesome so in a way playing the soft power game and objectives for the chinese government in a way that was causing american values in american principles in american security to be slightly compromised so. then i had to go back through all of my writing and

go wow was i doing that too and when i came away from it i said jeez i am complicit in this i didn't even think about it when we were in that fog of war back in those days and now it's something that we all need to talk about it can't be that 3rd rail issue that shows side the brooklyn nets owner called it it has to be discussed and we need to talk about it seriously in regards to how we want to approach china moving forward so to put this into hollywood scriptwriting terms you have something at the midpoint on page 50 of the script where the main character is going through there are and transitions subtly toward the end of the 2nd act i think is the way he would put right the script on this chris fenton but you know what's interesting is that there's an old saying history is written by the victors and the losers write the songs. and so the buy point being that what you're describing is that if this isn't

a new cold war and what we're seeing in the pandemic is that china is responsible for a lot of the vital infrastructure products here in america like ventilators and things like that then there is a potential with america's number one export hollywood to be subjected to the same sort of revisionism that america has been guilty after many years in rewriting other countries histories and so the hollywood product i now with films like top gun which is obviously something from the reagan era which really launched really a certain american militarism around the world as being rewritten reshad rescript it to appease or to accommodate this huge chinese audience so we talk about soft power is only on the ice saying that america's number one projector of soft power the hollywood film is at risk now of losing its ability to shape the global narrative in america's favor chris fenton hollywood does have a lot of power in regards to helping promote western democracy in the barriers

there are. but how we would also has to be very careful how they approach each individual market in a way that doesn't offend them and actually creates relevancy and puts the wind at their back in the back of the content that they're bringing there so they can monetize it well. the way hollywood has approached china up until this point i would argue has been wrong and i have been a part of that i am fully complicit very self-aware and have self reflection on this that said we do have a real opportunity both politically and financially in regards to the chinese market politically in a way where if we can. can you a smarter form of what we have been doing in bringing american products and

services into that market we will by default slowly diffuse soft power into that market that brings some sort of infiltration of western democracy into it whether that how you would movies hollywood television shows entertainment content from books to video games to the educational system the collegiate educational system here in the united states to even automobiles everything we get in there that's a product or service helps that initiate it financially it's obvious everything we get in there into the fastest growing market i mean let's set aside the covert 19 issue right now but the fastest growing market normally and will be for the next generation is china so for shareholders for investors for management for everybody working at various companies to provide products and

services if we can continue opening up market it's very smart financially so there's a political goal and 8 financial goal and both of those are things we can't neglect or ignore because i know the amount of china hawks out there is no supply in daily right now especially with the coke at 19 situation and cool way frankly i've gotten a lot more hawkish too but we can't let that get us to a point where we decide to completely separate let's talk about censorship because i believe that's what you're referring to what they're mad kulpa talking about there was a slippery slope where you allowed in hollywood not you personally but the hollywood industry was allowing for chinese censorship and revisionism on the product and these are artistic products hollywood films are works of art. and they should be above censorship in that way but why. more and more of the distribution model are on electronic platforms and streaming certain talking about google we're

talking about apple we're talking about other high tech corporations that have been complicit and completely in bed with the chinese government and censoring chinese people from having free speech and anonymous what would we would describe as jack coney and matter and that has spilled over into the hollywood product how are you going to divorce yourself from apple and google and these other big tech companies that are streaming the product that people are because a lot of screens of china i understand that but the streaming model is really the golden goose with this they and others now banking huge on streaming and that's dictated by the big tech companies and the big tech companies have established their their place in this and they're ok with censoring chris hi going to get around that citrus thing i mean right now the u.s. streaming the the companies that are big and us streaming really aren't streaming

that might show or they're at the moment that that's all pretty much monopolized by 3 big. companies whether it's 10 cent baidu or alley baba. so this streaming situation i mean even netflix is not in that market right now in fact i would argue netflix has said sort of you know what why are we even bothering with it and they've continued to make very sort of push the on the local non censored for the china market content mainly because they've said you know what we're not going to get in there so let's go back to the basics of what we are as a filmmaking friendly environment the bigger companies that are trying to get in there the big tech companies that you've talked about are the ones that are in there that are trying to get more in there yeah they're all look we're. all complicit in this and quite frankly there is no way that we can get

a better more strategic innovative approach to china unless we all do it together in harmony or in some sort of collective way to do it because quite frankly the chinese public does love the products and services that these companies that you're mentioning have and bring to that market so there will be an underlying pressure for the government to relent in regards to some sort of stronger action by a collective but going at it one company at a time or even like the way congress was trying to get le bron james to speak up on behalf of hong kong protesters or whatever it is i mean that's just sacrificial lamb strategy that will take out one or 2 companies because they did the right thing while everybody else continues doing the same so the best picture award at the academy award this year went to a south korean fell and it was in the south korean language and. i believe there are subtitles to it and president trump reacted quite negative to relate to that

suggesting that according to him america 1st policy we wouldn't shouldn't have anything but an american language film an american film winning the best picture at the academy awards i do you see some reciprocity going forward sockeye have released the film and america that for trade america and highly negative fashion it was out ok or should that be censored press i mean we're a democracy that defends freedom of speech i don't think we should be looking just because china is acting in a way that is not appropriate for democracy doesn't mean that we should follow their lead that just puts us in the same boat is as their and i would say we should defend the right for any sort of content that we feel is worthy of the of the film . making community and worthy of audiences to see regardless of subject matter to

be allowed in theaters and screenings really like it always has been regard list of the policies that china has the policies that china has we need to approach collectively we need to talk about him out loud they can't be quiet we can't be secretly you know censoring during version subscripts or whatever because we feel like it's going to offend them we need to bring it out of the open and we need to do it in unison with other industries and other companies christan to great script a 3rd act need some work though thanks for being on the kaiser report hey max any time and happy to speak about any of this stuff so thank you so much and stacy great to meet you finally and really enjoy everything you guys are doing and thank you all right great well 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 chris fantom he's the author of the fascinating must read feeding the dragon now it does not start precisely if you'd like to get in touch with the. kaiser report on twitter

and the next time buy a. new. trade and investment to become metrics bills to come to economic development. most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement as opposed to something very different but won't when investment leads to toxic manufacturing that destroys secret some of the environment. that means if local communities that are being poisoned if they have jacked if they do

anything that the company feels is interrupting their profits they can basically. multinationals are taking on the whole nation philip morris is trying to use i.s.t.'s to stop tour of the white from implementing new tobacco regulations aimed at cutting domestic smoking rates a french company sued egypt because egypt resists minimum wage and democratic choice of a trump cool personal joint says we try to fund don't want to. and . that's the crucial point the bulk of bottom line of the book namely i think you're pretty much stuck with your looks but if you have other things that you're good at either music or running or doing intellectual work or politics then one should take advantage of one's advantages and project goers and forget

about the fact that you may not be the best looking person on the block. so what we've got to do is identify the threats that we have it's crazy going for. let it be an arms race is on offer and spearing dramatic development only personally i'm going to exist i don't see how that strategy will be successful very critical time time to sit down and talk. and you. know what i'm going to be out there see i don't think about it at all many of us that roman not new dorp or. kind of were on their own course if not the

now i think it's higher than our. members from africa mafias conway's them safe and quick passage to europe but once they. leave they are in sleeves they count speech util. will not some of them leave your mom and i couldn't you know if this unit can get it out to him. from the chief of the the soil the. police it's all on court of the import of it because the persona that a kid even you scabby the normal length.

of. drones are used to enforce the law in the u.k. is police are given extra powers to contain the spread of cave 19. but is governments around the world use mass surveillance to restrict the movement of citizens we look at whether george orwell's book 19 eighty-four is fast becoming a reality. also this hour concerns for the safety of those who can't work from home unions in europe are demanding employees do more to protect their lives reach staff from infection and as russia recalls its 5th covert 19 tougher measures are put in place to prevent the spread of the virus we hear from.