hey i'm max kaiser this is the kaiser report lockdown 2nd month of lockdown finding the lockdown was great i would have done a lot sooner this is really a fabulous stacie one thing we're learning through this process of lockdown is the supply chain and distribution and the problem of distribution and the problem with distribution on agricultural goods and facemasks and personal protection a quick man out lysol wipes and things like that has made me really think of the monetary system and the problems with distribution in the monetary system because as you know one of the solutions offered for the covert 1000 pandemic is that we're

going to print chileans in chile isn't chileans of dollars even more trillion so we've printed for the 2008 crisis well here we have seen carstens he's the former head of the bank of international settlements and we prince tweets about him central bank interventions to quell the crisis need to reach the individuals and businesses who are all tamale affected the last mile of this channel is not yet in place and needs to be bridged urgently so he's talking about these trillions of dollars that are going to be handed to the same banks they got that in 2008 j.p. morgans of the world citibank bank of america all that stuff but the problem is especially in the situation it's not those big banks that are having a liquidity crisis as it was back then or credit crisis or credit crunch it's these small and medium sized enterprises that operate all the goods and services and deliver all those goods and services that they're the ones that are in trouble at

the moment you know the last mile distribution in terms of money the former bank of international settlements. guy is talking about is explicit lee picked a graphically portrayed and a money velocity chart that we spend showing for a few years money philosophies come to a dead halt it's just gone down every single year because the money doesn't get to where it's going on purpose that's by design because if it did then people would use it in ways that would increase the money velocity and wages would start going up and then the wall street ponzi scheme would come crashing down and would have come crashing down earlier because that's inflation and inflation is the death knell to bonds and the bonds for 40 years have been the collateral for the ponzi scheme that is wall street because the bonds keep going up in price so long as folks like this guy who is a former bank that are national settlements can complain about the last mile of

finance not going towards going to go then you will always see the need to lower interest rates we have a lower interest rates to keep the ponzi scheme going so it's my design you know i don't i don't understand i mean i understand he's trying to distance himself from what he has done well because he's he's a foxhole confession you know he's the arsonist who comes out of a burning building and says i mean i pour gasoline all over the place my little match and it burned down i don't know what happened officer i don't know what happened and we say this alan greenspan when he left the bank central bank you know he said you know what all my economic theories i have to say now are wrong so now the cranston who by the way is as big as a house too many carbohydrates i think you need to go on quito that's he is now issuing a mic culpa and saying i actually have a fraud everything i said was a far odd and whatever he's doing now sweeping toilets or cleaning toilets or whatever he's doing now it's too much so there is a distribution problem with that free money and free money keeps on going to the

same people they hoard it they hide it they don't they don't circulate that we see that the money velocity numbers. and now we're there we say thank central banks including the i.m.f. and bank of international settlements are being presented with this coded 1000 pandemic and they're saying all they know how to do is give money to the banks because that's what their mandate is right so here we have a situation whereby this money is sitting there idle it's not working it's not circulating and it's making me think of what we're seeing in the agricultural sector because we have headlines like this a food crisis looms as coronavirus forces farms to stay eitel and country scored supplies on the one hand you have hoarding because of fear of how long this pandemic is going to go on and on the other hand you have farms sitting idle not for want of supply the catalyst still there the pigs are still there the chickens are still there the chickens are still laying eggs we still sprouting the corn is

still growing all that stuff is still there but you need humans that will go there and pick it and stand on the assembly line at the processing factory bike processing the meat processing the chicken processing the chickens the eggs and the people those people are either fraid to go there or they're getting sick and they can and then the whole assembly line has to be shut down or they're just not able to because of social distancing they have to stand for their part which means they have to operate on a smaller assembly line so you have a problem of food sitting there idle and yet you see that the distribution line here is that if you go to the supermarket their distribution their supply chain is built for one thing and obviously this pandemic compound that buying people buying for a month or 2 at a time versus the supermarkets have their own supply chains but all their suppliers

are now like almost bankrupt because they have all this food that is meant to be delivered to a restaurant and it can't be brought this. you know a few decades of the disintegration of organized labor going back to reagan and when he fired all the air traffic controllers and that was the beginning of the end for wages and wage earners in america if if if the now it's about a $15.00 minimum wage which is a joke because if wages had kept up with inflation defined as the rate at which money is being printed then the minimum wage in america just to stave it would be $50.00 an hour right it doesn't but jamie dimon makes a $1000000000.00 a lloyd blankfein makes a $1000000000.00 because they're adding some kind of incremental gain to the economy now they print the lots of money and they take a $100.00 and they give you one right now k. after 30 years of that and now suddenly the supply chains rents are up to it and you're $15.00 an hour workers saying well we can't work because a covert 19 and by the way we're organized now and we're going to demand our

rightful hourly wage which is closer to $50.00 an hour and based on their money supply that you've been warning yourself for 30 years i mean wall street can win every single time eventually some workers have to go to support in the american economy the american economy is not just buying for kleptocrat it's not buying for terrorists like jamie dimon there's labor involved people who work with people who have families or values or the american history the legacy that has to be respected at some point you simply can't throw the keys to a group of wall street charlotte sense and give them 6789 trillion dollars and expect them to whip up something that's not an outright fricken act of bald terrorism i used to gather terrorist what do we do with terrorists well of course the decline of organized labor style the rise of organized crime which is we've had a crime wave ongoing financial crime wave derivatives crime wave debt crime wave credit crime wave since the 1980 s. late 1980 s.

and 6 celebrating because the costs of these are there's too many conflicts you know and they're having to have a turf war they got called in for racketeering right to bring prosecutor going to recap jamie diamond right there may be morgan j.p. morgan just like like. jamie diamond makes the $911.00 trophies look like spilled milk that's that's the proportionate response to look at jamie diamond wall street bankers and by the way their stocks are crashing now so after they stole hundreds of billions of dollars and they left an empty shell of a bank that's now collapsing and it's happening all over the world ok that's an act of of vandalism that's beyond anything beyond anything we've seen so call terrorist what it appeared to diamond those guys are are you know peashooters doing. well remember jamie dimon did from the hospital say that this was good this collapse was

good for j.p. morgan because they could buy at a cheaper rate than that which i mean it is his walking covered one thing ok he's a worse than coffin one thing he's infected more people with his financial virus than kovan bank created more deaths than covert 19 how he's not in jail today is a fairly are of justice in america so i want to turn to this story from i believe it's the n.b.c. a food crisis looms as coronavirus forces farms to stay idle in countries hoard supplies so the f a o which is the united nations food and agricultural organization said that disruptions can be expected in april and may to the food supply restrictions on movement some basic aversion be paid for by workers could impede farming so the f.a.o. food processors to handle the vast majority of agricultural products could also be prevented from processing the farm products we are already seeing however challenges in terms of the logistics involving the movement of food not being able to move food from point a to point b.

and that pandemics impact on livestock sector due to reduced access to animal feed and slaughter houses so this is something i've been noting on twitter by the way and there is that an entire sector of of twitter now dedicated to supply chain truth or ism. so they believe that there is despite actually workers not sharing out slaughterhouses have just shut down you know flour producers saying that they can't deliver because of the disruption in the in the postal system you know. that there's anything wrong but there were many people denying back in january if you look on kaiser report we were covering coven 1000 and saying warning people about this in january early february were with alex shaffer painting arts and early and mid february and you know we were warning about this one people who were there were a lot of truth is out there as well saying denying that anything was coming well i blame the video games because you got these millennialism jency who play video games and are in virtual reality and they just click

a button and they win the game and they're like wait they know what i mean the supply chain i just won the game what are you talking about they don't they when they have no comprehension of the physical reality of the world they have no idea where food comes from they just think their mom brings it on a plate down in the basement they say can't continue with their songs my mom's up they're going to make me a cake what do i mean there's no supply and food again we're talking about that last mile of the last mile is always a lot of the biggest problem around the world for example giving aid to africa so it's that last mile actually distributing the goods it's the same thing an america where we say there's no disruption in the actual supply if you send a bunch of food to a warlord in africa it's not going to get to the people is it if you give a bunch of money to jamie diamond it's not going to get to the workers is it these are her words on wall street instead of a guy in africa who is here giving a 2 and he says oh you know i think i'll just keep it and not give it to the people and they're going to starve you know he's there's no difference even if they supply is there even if somebody could distribute to the very last mile we have the

problem of the last 2 meters in this pandemic situation in this last minute here billingsgate fish market traders forced the shots after customers ignore coronavirus 2 meter rule and we have he. we're at the billingsgate fish market in london one of the oldest fish market is the world steve is shutting down for the 1st time in 28 years and why don't you say well because customers are failing to follow guidelines about how close they should stand to one another he said quote some people are closing because their suppliers are drying up that's the last mile problem but people like myself didn't feel there was enough being done to reduce this much risk as possible for myself my staff and the public so people were not honoring those last 2 meters between you and the goods. they're going to start paying people more and that's that's that's it you have to get rid of the bankers and just start paying people the a rate that is commensurate with the supply of money in the system and then toll

that happens until those to make will bring in between what's being paid to people based on the money supply then you're going to have food shortages and you're going to have over $1000.00 parle so you're going to have a lot of social unrest until you get rid of the central bankers and their propensity to steal jamie diamond i think if you still working you still have a problem. well may got to take a break and we come back we won't be talking about jamie diamond thanks stay right there. with. the micro brush and art slights against you know whites or men for example there's there's fights against women or war on nonwhite so it's always you know the idea is that statements that directed toward a privileged group are interpreted differently than

a statement directed toward an oppressed group and so that's kind of the whole framework and it's a it's a political framework that's used the result is of course focusing at least on certain kinds of minor slights and say well rather than a northern northern we need to call. attention to them but it's not all slight so it's very political in this country. your government and our government and all the other major governments of the world know what's going to happen and when it's gone. but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth. is going to cause tidal waves earthquakes volcanoes are going to wrapped and it's

going to hell. so very for a while right. my great grandfather's quote. nobody would care about the law or prison so you'd have wallace those should have. a terrible life between now and the. welcome back to the kaiser report imax keyser time now to go to the flat cost host coing take over pod cast welcome to the show's last. good to be here

really an honor how many people can claim that they have been on kaiser report no very few when you consider the total world population black. i want to talk about cypherpunks for a 2nd and you say that cypherpunks did 90 percent of the toshiba's work so 1st of all just kind of tell the audience what a cypherpunk is and then. exactly what work did did they do persist toshi suck on a felon some of the blanks that if you can decipher are the people who identify the cyberpunk who do you know cipher stuff with cryptography and in the ninety's they would meet and develop all sorts of the publication now to maximize their privacy and you have cyber monday. published in 1902 i think and you also have. the book by in may which is called the cyber not because

so if you want to understand what they are about then you should check to document and you don't have to read the whole cipher nomic on you just have to read the 1st page and the. debate between comply to towards area laws and greater amounts of privacy much more important to preserve individual freedom and human rights and privacy and everything else but the same time there were 2 camps within the cyber punk group there was side with lives much more concerned with privacy in developing stuff and i think. door right now which is a way to get more privacy on the internet running your connection and also the video are kind of cyberpunk and spirit and their ideals and there was the other camp of cypherpunks with was much more concerned with economics than money and they

wanted to basically end that speech been jargon. and that's what they tend to do i think to them because they like the holy grail because for a long time they tried to accomplish something which is totally decentralized and capable of providing an invisible freedom and they have had many experiments which start with david toms the cash and i think that was in your early ninety's that went with that did you cast corporation and even top with the funding recorded by the cia and usa and they were the thing going on during the internal tattles and stuff like that about the danger that did it cast can pose to global economy and the project itself has failed because it wasn't trying to create

a new group to a currency per se it was just trying to move money in a more private way. and this was much more centralized and reliant on central authority after david thomas experiment we have seen i don't back. passed gas and that was i think the 997 that was the way to agree by and. e-mails that alan 1st so that was the 1st purpose but after that healthy and he has upgraded the product call in 2004 and it's the reusable proof work that's where this whole data actually lay the foundation for but point and ideologically we think about the goals you thought by next stop is 90 percent of what bitcoin is supposed to be but it has a different consensus system where are they going to talk about the hass and the

processing cycles that occur at the time and that's what ensure the network security. design it was all about your amounts of computers and process being connected so it was the type of simple attacks with a large majority of computers joining the network one hyman overtaking the 51 percent was already and i could destroy the system so i think the solution nakamoto has taken elements from all of us and mentions that proceed in the coin and has combined them in order to get something done so phil cypherpunk having absolute freedom well so he didn't manage to do it to provide more privacy but there's a lot of agreement station and operate now oh that's an excellent little history of it all thank you that was great glad you are a ph d. candidate and political philosophy so can you elaborate more on the political

philosophy if it coin you make a connection there how does its philosophy differ from our current fast system run by central banks last depends on the school of philosophy so what's your for when you talk about philosophy because if i talk to my supervisor are you going to tell me that i'm some sort of out of kid and going to associate me with something that is not necessarily from the school of a lot of you that he teaches. but at the same time i think that philosophically speaking becoming is very much close to what the founding fathers of the united states were and visioning by that sounded far either that actually mean thomas jefferson and james madison they were the ones who opposed the idea of having the central bank and just once it's silver and gold out the main currency in the united states. they wanted this kind of currency that is hard hard to get actually

it takes resources to mine you cannot just and sit out there and there and they wanted people to be free to call them import them and trade them however they want to. and that's not what alexander hamilton once said and that's how we ended up with a central bank in the united states and the dollar and and you're only 20 percent for you we've got. the story but also i think economists who blame philosophy like hajek and the whole school of arts yonathan amik wrong. friedman to run bar. all talk about that kind of stuff and the vision of a former model and not political that can be controlled by government and is actually in not necessarily centralized because that's kind of a computer science term but it is neutral and cannot be confiscated by

the government cannot be censored and is basically something that you have been doing your job and you can print dialog with whoever you want and i used to be. paid over there and many countries and i had to change them fortunately. so our story i started from plot that the and i think if you want to fully grasp the economic philosophy of bitcoin and what it's all about you have to read both economics so yes you can school but i even don't necessarily agree with people who think their bitcoin is an invention of just going to school because they are what computers science and it's not material so you can add all of bitcoin in your hand and it's mass market numbers

then that if you fall down the rabbit hole you're going to have to study many feel by economic computer science or graffiti and throw your money and. i know there is so much that you discover along the way and the more you know and the more you find out the more you're going to realize. you're. crossing the surface and there's always more and so i haven't finished my thesis i'm in a big argument with my supervisor. happy with what i know and i keep on discovering new stuff all the time and he just once in a shit so you just write something. well i will have to get him on the show and try to educate him right here on t.v.'s the best solution for that now only getting but flat so is this type of work they are discussing and you're talking about they founding of the united states the philosophy behind it you know in the us and are

very big on separating church and state what they call in you have the potential separation of state and money which would be a quantum leap in individual sovereignty as as we say and as this what has led to all the work that you do in the area because while it's in securing coins one of the the big surge is a bit coin adoption happened after the cyprus balance of 2013 before the next wave of balance happened and that would be where and stead of the government printing money for a lot of banks they simply go into people's bank accounts and take money what should those new to big coing to do in terms of securing their coins in a hardware wallet. kind of walk us through that 1st of all i just want to say that security in itself is very hard and you can find lots of that 1st in the majority who have started computer science or the friend stuff like doc. they're

not going to agree on very simple thought that they have different vision on my part i was fortunate enough to have peter. and he is an early cleaner and has been a bit quicker developer and one of the smartest people i know and he doesn't you know he doesn't you invent the devices at all because he doesn't trust them he just builds his own set up because he's technically capable to just sell but for the regular person i mean i have some hardware volunteer i prefer them part of so you have all sorts of them and i have through even them also you have call card you have the key you have the ledgers you have good friends and they all have tradeoffs they have pros and cons and reasons to use one or the other so if you want to find out more about her wireless look for bit quantico va pod on i tunes modified you

tube you're going to find it interviews with all the hardware wise men factor and they pretty much explain the trade off because they're kind of honest about it they're open don't they they tell you why you should buy their product and why you should not buy it so if you want to make a well informed decision you should do that but also if you. are resistant to it you can get a metal plate to replace your paper well as i recommend stuff like crypto thiel or bill fall. it's basically a metal plate on which you write down your seat were and if you're a parent you can use it very. well you know how it is just curious because there is always the next big threat taken certain situation ok thanks so much as a report ok well that's going to do it for this edition of the kaiser report with

me max kaiser a lot of thank our guests glad he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report until next time.

it's a let me. ask i would then we'll. take a. look at the record not the chemo. can you look to him a little. time to make to see that you don't want to. do what you have with the kook on the scene do it in the lab now that you had checked on. the little people he. knew of those the moon the little known to the snakes to learn an item from the. higher commodity tied to use in to do. just. that every project had in the.

one that he meets your house on them. well redacted tonight this is the comedy show where americans in america covering american news are called foreign agents welcome to the show and welcome to the shock doctrine i hope you enjoy dystopian entertainment. so you may know naomi klein's best selling book shock doctrine was also turned into a hit documentary i believe call the fight club don't quote me on that the shock doctrine basically says that the ruling elite exploit national crises like disasters or upheavals to establish controversial and questionable policies while citizens are too excessively distracted both.