part so much that we really need that's what this whole lockdown is teaching so many millions of people but most of their lives are all wasted on unnecessary costly redundant and doesn't promote social good at all. c.n.n. soccer. don't forget there's only one way digress yes stacy let's talk about mortgaging our future because this is something that you and i have been talking about here in keizer point for years of course all of this debt and all its feet out since $1071.00 has not has come at some cost we feel like it's been costless because money printer so they keep on printing it we think like hey i can keep on buying stuff i could buy in u.s.

you every year put it on lease i could buy a bigger mcmansion every year and it's going to be better and better and better well it's actually been mortgaging our future which is one thing if it's mortgaging your own future but it's been mortgaging those who have no choice you've been mortgaging the future of people who don't have any say in it we're going to get to that but before that i want to talk about this quarantine situation because we're in this global quarantine and somebody mentions a great interview quarantine max kaiser is best max kaiser and that is something true because of course corona means crown kaiser means king max means king your max kaiser the king king king king i am so toshiba's representative here on earth i am the bishop of ok well if that's what you believe but the thing is you know you can make wit it you know whatever you want of the situation it is a dire situation it is a global well it will be on a stump in your 1st like and yet as we have in stark relief when we have it

slapping us in the face like that gift of the woman getting hit in the face with a trout during a storm that everything paul krugman has said about dead is false he's always saying it's just we know ourselves and we are going to ignore it well what happened paul krugman is that suddenly the debt became a problem didn't the few weeks ago and the globe goes into discounting and realizing all that future revenue and future of that you decided it was not important and all those generations that you decided were not important suddenly everyone's jobless and without food to eat and many place. is because of the economics spoused by charlatans like paul krugman all say that and why this money particle why does that happen why does that keep on happening and why does every single time since 200-2000 the end now 229-2020 why is it that every time they do this that the wealth and income gap explodes especially between generations you see that between income classes but you also see it between generations and you see

millennial is get left behind further and further b. where generation x. was at the same age and of course where the boomers were even more so at that same age so why does that keep on happening well because they have to keep this debt ponzi scheme alive and that's why we keep on having to mortgage the future because those current members of the ponzi scheme can't keep it up so they need to go further and further out into the future the state of the consumer nearly a 3rd of us renters didn't pay april rent so this is. really the base of this pyramid of debt if those bottom layer of renters can't pay the mortgage the rent to the mortgage holder they're wrong t. a class you know that is what unwind see entire global pyramid scheme all right the pyramid scheme has a few layers and if people are not paying their rent or their mortgage in a 3rd are not going to do so peril in the month of april that is like calling the

the rug out from underneath this enormous ponzi scheme in a huge way and it also i think echoes the occupy wall street movement because during the occupy wall street movement there was you know a belief by this generation the millennial zz and the genesee that wall street was abusing them in some way and they wanted to make the message clear that they weren't going to abide by the money printers and the ponzi scheme operators but it was an abstract concept now in 20 twentieth's real campaign my rent so now that wall occupy wall street movement should really become. more. i should say pronounced as it becomes part of the global insurrection against banker occupation that we've been talking about for 10 years well it's basically occupied that there was a think there was a subset of occupy wall street that because the dead is occupied them it's occupied our economy and our infrastructure and our supply chains and this is what is coming

unglued as we try to maintain this system you know we have all these senators and congresspeople plugging the holes of this debt system as they emerge i mean we're on face for another $250000000000.00 plus oh no another $500000000000.00 so we're continuing to plug in these holes of the debt tsunami as it unwinds 30 percent of mortgages could default and fannie mae and freddie mac. could require another bailout like the great recession of lockdown stretches into summer warren analysts as many as 30 percent of americans with home loans or some 15000000 households could default if the nation's economy remains closed throughout the summer right well let me speculate on something because this fannie mae freddie mac. bail out another bailout before they even pay off the 1st bailout or during the cold recapitalization reorganization or collapse of the fed that ponzi scheme that is fannie mae and freddie mac. and they have to go through that again i am making this prediction and i've been saying this for a few years but i think this could actually happen now that actually fannie mae

freddie macas sold to people's bank of china p b o c so that china effectively becomes the landlord for a 3rd of american households number one number 2 we could see another make a deal like exxon sold to saudi arabia i think we're going to see some mega deals like that as part of the new world order finally i mean the bit this bit kind of a stretch but i think that alaska could be sold to russia well i don't know about that but certainly they're predicting that up to 15000000 households could default on their debts on their mortgages nearly half of all u.s. mortgages are under written by. fannie mae and freddie mac. remember leading up into the 2008 financial crisis there was this theory this argument that we're not going to bail them out because they're just they're not nationalized right the government doesn't stand behind these bonds and at that time china was one of the biggest holders of those bonds and they said well you better buy these bonds and bail out the system and lo and behold they did at that time there was a big theory and

a lot of people out there in the audience who might be generations don't remember the last crash because they were only like 1213 years old but at that time there was a theory that china would take over the whole thing and. then the became a national security issue but in terms of this situation we have 50 percent of the mortgage market is is basically underwritten by the united states government about 60 percent of all health care is underwritten by the u.s. government through medicaid and medicare. 90 percent of student loans are underwritten by the u.s. government so the fact is we are we have over the past 20 years especially since this hardcore financialization that happened since the commodity futures modernization act of 2000 and the glass steagall repeal and 1909 basically a continuation of the last episode where we talked about the bankers get all the reward everybody else gets the risks this is part of that is that we've had because society ordinary people take all the risk that we've had this offloading of

everything on to the u.s. government and nobody seems to have realized that you as we are close to what the soviet union was like or china as we say you know that they're communist now let's call what is marxist communism you know bernie sanders is a socialist he would be too liberal compared to the communists saw the communism that's being put forward now i mean you talk about 60 percent owned by the government owned student loans they don't 90 percent of student loans they pay sick over 60 percent of all health care are spent in the united states 3 trillion 4 trillion a year most of it comes from medicare or medicaid so they're the ones paying for that the government is already paying for all these other schmucks like us and on obamacare that's like just money being thrown out the window this like money particle put in place so that trend is going to 100 percent. right and if they keep going into debt printing all this money in the balance sheet the fed goes from. indo with a 5 trillion dollars on their balance sheet which is 25 percent of america's g.d.p. if it goes to 100 percent or higher that's 20 trillion dollars of debt so the

central bank would effectively own the health care system the education system the mortgage all that the entire mortgage market and on at least half of the s. and p. $500.00 so that's a deeply centralized poll of bureaus type soviet union communist trifecta of. stalemate in terms of markets and in your future you know somebody has got to pay for this right the money printers compatible right that's happening but somebody is going to pay for it as we. coverage you know it's the future generations or it's those you know the opposite side of that is the consumer the citizen the resident can eat the user of these systems the entrepreneurs their money printing press. it just burns in thin air it's just a vapid rays look at what they're predicting in terms of just the deficit the annual deficit of the u.s. government i mean i remember when it passed the chilean i think that was during the financial last financial crisis well look at these numbers are pretty shocking

bloomberg economics expects largest u.s. deficit since world war 2 tax cuts and spending measures already announced or results and the budget deficit greater than $2.00 trillion this year upcoming measures are likely to push that toward $3.00 trillion dollars or 16 percent of g.d.p. easily the largest as a share of the economy since $1045.00 right so let me reiterate here so the idea of debt is just money we owe ourselves and that we should worry about it as you read in the york times nobel prize winning economist paul krugman he thought he thinks this is a good idea he thinks this is the right way to go he's obviously pro-communist which is weird because he lives in america it's like marxist capitalism and it's a new form of capitalism as a crony up to craddick communist sort of makes a real branding of communism this is american communism remember that show of

american style is going to be communism american style and it's going to be like people trapped on a carnival cruise line with coronavirus out there in the middle of the ocean trading food stamps with each other to try to make enough to click an ad on facebook to win a protein pill that is very accurate way to describe it because of course none of those cruise lines at all pay taxes in the you. yes they're all registered in the bahamas and yet who has to bail them out not the bahamas of course the bombers can't bell them out because they can't print their own money and like the united states money print to go broke and can so they're being bailed out essentially by the u.s. taxpayer what happens when all their their cruise line you know people on the cruise line the passengers when they come down with thrown away as they pull into fort lauderdale or miami and where our health care system has to take care of them you know i do want to point out that on this this deficit widens the most and 2nd world war that little orange line there is than the members of the public who own

that u.s. debt who's buying it well it's called monetization is called nationalization just like we own 90 percent of our student that 60 percent of our health care that and over 50 percent of the mortgage market we own 100 percent of the national debt call of travis bickle bonds or so it's like lloyd blankfein standing in the from the mirror saying we buy the bonds you buy for me to buy the buying from me how about me you buy the boat from me travis bickle in debt pusher the new martin scorsese film on netflix or you know what i think we got to make a charles bronson remake of death wish and called debt wish i believe i've seen you working on that and speaking to a crazy director for our able able forest that he would direct me in that wish and i'm the natural successor of charles bronson it's a vigilante banker dude in new york city it goes crazy and seeks justice is like

occupy wall street meets godzilla but max in terms of these you know this mortgaging the future or at least it was a set of a future back in 2008 and there was a much more of a future back in 200-2001 during the dot com crash now it's like that the notion of having some sort of future becomes more and more precarious and like doubtful about whether or not this you know this empire debt can can sustain itself with more money print. and of course you see that in the reflection of all these things so-called bailout packages and stimulus bills is there's no oversight and it's just being handed to who knows who on wall street or c.e.o.'s or lobbyist we don't know where it's going so you know we've got our flamingo back here and we've got tomorrow is guaranteed to know. but there's a shakespeare line from macbeth not mistaken of course i'm completely mistaken. i have no idea who say hey you know what we've got to take

a break while i consult my complete works of shakespeare and when i come back much more coming your way. humanity is on the edge of the precipice thanks to a continuing destruction of the natural. stream later alarm goes off. from the. play of the piano to. the members. of the new. the war. or the.

dealing. with the same people. and stuff and. human activity has brought us to the brink of the world's 6th major extinction of the people of this film just can't take it anymore. the outbreak of the spread of the corona virus has become a black swan event for the global economy is no longer whether the u.s. and other economies will slip into recession the question now is how long the recession will last it's going to get worse before it gets better.

welcome back to the kaiser report imax keyser time now to turn to lena. sees the marketing director of bit c dot com lena welcome to the kaiser report thanks for having me great great to see you great to have you done now alina how does bitsy differ from other bitcoin exchanges. yet there are a lot of big cloud exchanges out there right now so i think that makes it more challenging for every exchange to differentiate themselves as for c actually we say they were a financial tech company and we built financial products for institutional and personal use that either use the quantum take or build on creating more accessibility for because because our team is very bullish on because we believe the new financial center that's going to build on it going to be built on it so we

still see a big blue ocean ringback when it comes to various financial applications so that's what we set out to build so our flagship product is the exchange which is fun futures exchange with the add on and off rats and in addition to that we have other substance like o.t.c. asset management lending and that's a debit card which is coming out soon now that sounds like a pretty full range of products there are let me ask you this there the pandemic that is sweeping the globe what you've been seeing in terms of volume on the exchange during the pandemic and you know there's a lot of money printing there's money printing insanity all over the world how is that being reflected if at all on bitsy actually the 1st thing we saw when the market crashed big time was that people stopped trading high risk so we saw people sort of escaping the futures trading and moving to a stable cuts. and

a few people did but i did it and then as the client started recovering rapidly now we see a lot of interest coming back and of people buying into the. right so the bitcoin having is only a few weeks away so the mining rewards drop from 12 and i have to fix the quarter points every 10 minutes this is. an event that occurs every 4 years and all the big point traders around the world and those who have been following big point in crypto i've been waiting anxiously for this it's seminal moment every 4 years when this happens and what are you expecting if anything from this and can you just talk a little bit about it and we go to my patients that i think in terms of short time price movement i have no idea it could go either way we do have some data that we could go by based on the last 2 have anything. that could give an idea but

i'm not going to go and make a prediction based on that because we had to have ngs and are having and then we are and then sort of a special situation right now but what i do know is that the calling is unlike any anything we know today and we're used today when it comes to money is disinflationary acid in the world of hyper inflated i'm limited yet so our central bank put drupal our money supply and in the meantime decline is becoming scarce so it would be very hard to believe for me that an event like the having that house the production of the client would not significantly push the price in the long term right let me ask of this alina the pickling community. is very active and traveling all over the world all the time and meeting at conferences and i've seen you at conferences over the over the years and now with

during the coronavirus pandemic these big coin conferences have been put on hold and then the community is not experiencing what this this camaraderie if you will of all these events happening all the time you're very close to the community you're in marketing over there betsy is how do you see this bitcoin community at the moment is it evolving with the times how do you see that and they thinking. i think generally because this community has been it was born online it's living on line in terms of the communication not much has changed but the fact that everyone is getting tired of being stuck at old thing getting very frustrated but i'm assessment that i think one thing people are seeing is they have a lot of time to watch what is happening in the markets and all that is happening economically speaking we can see we can follow things as they happen day by day and we see more and more reasons every day why why because i make so much sense to us

just looking at how we can probably buy cash to become less and less use and this is kind of being further down by the penny it shows even more of what the cloud is important right it's remarkable how every barking in the world seems to be more volatile than bitcoin certainly that oil mark in the stock market are way more volatile than because recently now lena privacy has become a very big issue what is bitsy doing in terms of privacy specifically with half truths and if you can that maybe explain a little bit about taproot oh and regards to tap root i think you're saying that because we published some content on our. 50 a tad to me i think we like to dictate on the basic ketamine about the privacy developments and because that we do have our eyes on that generally right now what

we do have to see is we listen to what users want and we do see another to mind when it comes to privacy for what we are doing and for example we listed a privacy ringback client with other exchanges with the list to clients and we also do not work with a chain and i was the company's so we do not track. law course by quiet for example come from client or an actress's and additionally we take. financial transactions to think that right right the chain analysis companies that are active now are forensically going in and tracing and tracking coins and there is a controversy in the community and a lot of people believe it's against the ethos of big coin in a big way and one thing i know is that the cypherpunks that would be of course against this their prevailing vision always seems to win out in the end now

you are the chief it says here chief shill i don't know if that's the right phrase or not for the liquid network so tell us about liquid network are you the chief shill then is that a preview art of service sounds bad or is that not bad is so bad it's good lena yeah maybe. it sees a launch member of the liquid network so liquid it is a federated site chain based settlement network site same take is pretty cool and that it and essentially allows you to a chest or add functionality to big card without ever touching the client protocol or it's a big car and network. so in the case of liquid that means liquid has an 8 s. it called the car because that is packed once you want to because i maintained so what you can do basically is move because i'm from the main st shooting liquid that works what we know which means you know you look because on the main sheet you have

a lock in on the quit site chain and then you can use it use that with the added functionality that liquid provides if that is useful for your specific purpose so liquid is designed for traders exchanges which is why it makes sense for bitsy to use it because it has faster transactions confidential transactions so that makes it a sense that say you're a trader and you want to catch a trait. and you want to have the coin in your wallet and you want to move it to this exchange not normally you would have to calculate a certain way time that probably minimum 30 minutes because they call in 10 minutes both times and the fact that most exchanges require a minimum 3 confirmation before they were critics the question your account and it doesn't even take into account that coins that book sometimes come not every 10 minutes but slower or that it's not guaranteed that your transaction is going to be

included in the next stock so for some traders that my photo and liquid can take steps because it has to in a transaction finality for what you can do if you have a liquid in a while it's like flashing green you get very easily send it would be quite from you wanted to the exchange within 2 minutes which is more secure and faster much. what you're describing there is scaling the the big going protocol and for years we've been told that you can scale bitcoin and that's the justification for all these so-called also coins that can do stuff that because it can't do if i were to say that it seems now that because it's just about going to be able to do everything any also pointed ever promised to do and that the all calling market is almost entirely redundant and unnecessary would you agree or disagree with that stance i think the client can do everything the biggest when you build them because i also like with side change there's less immediate financial incentives so

that's why there are a lot of outcry for out there but you can't do everything on big client and i think is shit. all right so finally let me ask you this you apparently i would guess are either generation 0 or a young mole lenny ill and as the boomer ponzi scheme collapses around us and that means printer go broke or and it's obvious that the boomers have just created money but for no real reason other than the steals wealth are you confident that this new monetary paradigm of bitcoin is going to be a foundation to build your future on and you have hope i have a lot of hope and because i have little hope and yet and i wish more people my age that now and i think more people will be able to see it in the near future especially with what is happening right now and what is also interesting to think

about is that already. kids are already there kids that are 10 years out today that don't know where else where the client did not exist so i think it's fair to say longer than the much longer all right lena thanks so much for being on the kaiser report. thank you for having me. all right well that's going to do it for this edition of the kaiser report with me max geyser and stacy herbert like to thank our guest lena. that's spelled s. e i see a big bit c dot com if you like get in touch with us on twitter it's kaiser report and by oh. this is a story of women women with troubled histories and complex court cases you know.

where not. the person that. they are considered the most dangerous of criminals she's in a still. all the off 23 hours of the day tell me that this. world of women on death row.

this hour's headlines story sells the number of hospitalization. double them or of moscow annoyances a. film to monitor movement saying too many people are still not complying with self isolation. the us becomes the 1st country to register. coronavirus that's in a single day refrigerated trailers brave seen in the major infections new york post the city struggles with rising faith. experience to be despondent to speak. of helplessness the fact that you.