max kaiser this is the kaiser report the show that warren buffett doesn't want you to watch you know i got to ask rhetorical and will be a theme i think for the next few minutes america's got 20 or 30000000 people unemployed now the question is why have they no savings why don't they have a savings that's a very important question that we need to look into stacie perhaps it's because of what frederick boss the warned a couple 100 years ago when plunder becomes

a way of life for a group of men in a society over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it here we are over 49 years after going off the gold standard in 1971 which is a moral code and a legal system of its own it imposes a moral code upon the economic system in terms of honesty and terms of distribution of wealth but here we have a system that 49 years later has become rotten the institutions have melted and disintegrated and we have people like our own senator here in north carolina senator richard burr who was caught not only dumping a whole bunch of sharers $2000000.00 worth after he secret inside information about the coronavirus but it turns out it's even worse when senator richard burr not only engaged in obvious insider trading on the coronavirus after receiving intelligence

reports on the looming pandemic but he also sold his townhouse to a farmer a lobbyist above market price for a tidy profit so here you have a guy who's. supposed to be the legal system of the the moral code of the nation in congress and he was actually had these pharma before him in terms of business and he he sold his house to one of these lobbyists this 2 tracks there those 2 paths those 2 answers one is looting right so looting has become institutionalized and congressman and senators don't see any problem with looting they trade on inside information they glorify in it they trade stock tips down there a congress that's the primary reason they get together in congress is the trade stock tips and trade on inside information because the clip across in the criminals and should all be in jail and burnt and set on fire and get rid of them the 2nd reason would be that we live in a country that glorifies debt that would be keynesian economics keynesian economics

hate savings if you read paul krugman of the new york times he's constantly talk about the savings glut he would why he wants to burn savers he hates savers because that's his job as an institutional policy puppet who wants to get everyone is in debt as possible so that when they lose their job they end up in shacks they can't move they're eating protein pills and they're treated like garbage and like sheep like mushrooms keep them in the dark and feed him. right that's paul krugman in the new york times policy that's keynesianism we hate savings austrian economics values savings and of values individual sovereignty and it's the proper way to run an economy it's what benjamin franklin would have wanted had he been running the economy today but all the founding fathers are dead in the state we have posers charlotte's and crux and paul krugman when a multinational sets up a you know one of these factories in mexico what they look for is single mothers

who are desperate they look for people in that who are desperate who aren't going to give them trouble who don't go on to you know protest line that they're shut up and they're quiet right now so many americans as we know the fed even told us a few months ago. more than half of americans have no money at all in their savings account in fact they have debt so they know for a fact that you're desperate right now and that you'll do that you'll accept whatever's happening with the fats and save us and these cold so-called stimulus that's right and you want to look at this inequality in anti-capitalism one chart the fed for the last 25 years have used their tools and money to preserve equity and credit crisis at all costs as a result when economies contract average people get hurt capitalism progressive ship both this chart up this is us financial assets now $5.00 times g.d.p. so this is the financialization of the economy that started in 1905 when the divine right of kings the divine right of these these you know the oligarchs at the top the elite the wall street the politically connected this is the moral code this is

the legal system this is the monetary system oh i said recently about the so-called progressive like to me door or chained junker you know they talk about the idea that we should somehow teach their leaders to be more moral and then we should ask them to be better people but they never actually talk about that that's impossible in a system that glorifies debt and has no basis for a savings to establish the economy with real money either gold or bitcoin that's never come out of those jimmy doris mouth he's never advocated for gold not one time and that's a huge mistake there's no such thing as a progressive if you're only program idea is to try to morally assuage corrupt institutional prison where the bad guys to act that are right that's not a that's not progressiveness that's idiocy that chart is from 1905 soaring up the financialization went basically the elite the plunderers at the top ran away

with it all to get back to your boss to point active during the divine right of kings and who gave the kings the surviving right religion. and then the transition to the fayette world war era was straddled by the bank of england to try to preserve the wealth of the monarchy of europe through a central bank and then they started the sierra and then we have keynesian economics which is the religion of the cia era to give the apostles like nobel prize winning economist the idea that they are divinely endowed with the smarts and intelligence to centralize our economy and award people indulgences to those who they think are worthy of going into heaven an austrian economics says no you have to have savings you have to have actual individual sovereignty which is

also the basis for the. declaration of independence for america the united states and for those who are still a spouse the dirty policies of keynesianism. they have to deal with this with their own conscious going back to the divine right of a class of people when we had that back in the age of empires and kingdoms that of course kept the the starving masses the peasants in line because they don't want to mess with god right god had given these people a divine right the same thing here is in this structure of cup talk or see the financialization it started in 1981 where we went off the gold standard and the individual themselves could not measure their own worth just like back in

the divine rights of kings the individual was not able to measure their chance of getting into heaven unless the kings. you know the priests and such he controlled would tell them whether or not they had paid enough indulgences the same sort of system we have here where you're not going to get up this very you're not going to be allowed the toll bridge is not going to be lifted for you if you aren't participating in playing the game if we were guarded gold is the continuing true measure of monetary stability it suggests that stock markets gains in the 50 years since our own most entirely due to money illusion or the erosion of the dollars buying power so the red line is the s. and p. $500.00 in dollar terms and the black line is in gold terms that money illusion is the same thing as prior to john locke and bost yet in these sort of people there was an illusion that the king was somehow superior and closer to god than you that

individual only he could give. any rights that you had no endowed rights at birth here is the same thing is that it's a money illusion the illusion that this divine right of the markets always go up is somehow ordained by their closeness to the fed and is there anything more troubling for those who would be against the monarchy in power then when we heard that these relief checks being sent to the government were all going to be signed by donald trump quite that sun and 6 troughton area act of hubris that i've nothing i've seen or read or heard donald trump say they're his entire presidency really worried me until that and then i realized you know what america has slipped back down into a pure monarchy and it's the fret and trump he was also raising keynesian economics

he also doesn't really it can't blame him he's a he doesn't understand money he just understands death is the king of death as he himself says he calls himself the king of jet every us dollar should say have trumps picture his signature with the phrase the king of death and we reject monarchy if we are americans if we are not rejecting monarchy then we have to ask yourself how american do you think you really are he's always from day one and pressing your own power to cut interest rates to issue more debt from day one i think he announced that in his inaugural address to the nation it's like cut rates so this is something he's been interested in however you know those people the divine class they only operate for themselves they do not care about you they will snatch your so-called stimulus check out of your bank account they

themselves will be granted money from you the taxpayer. to make up for all of their mistakes but look at you the individual how much they've taken from you this is what i object when i hear progressive's because their whole agenda is to get the people acting poorly in government to act better they're never going to act better for exactly the reasons you just stated they are born to act poorly and not in the interest of the collective or the masses or the people or the common good there are only way to fight these people is to come up with a competing form of money that destroys it we only know that one exists and that's course bitcoin record and gold gold would have told you this entire time that these people are not divine jamie diamond is not divine lloyd blankfein said he was doing god's work he is not divine those people are not billionaires because they are divine is somehow better than you you have been subsidizing it you have been

subsidizing it people who pay taxes who work in this economy who who are the essential workers have been paying and i'll show you in these 2 charts here here is the total household net worth of the united states measured in ounces of gold rather than dollars over the past 50 years and as you can see it went down from when we went off the gold standard 1071 and then it went up a bit during the dot com era that did expand some of the wealth to ordinary people who are holding shares in their schwab accounts and their various other online accounts and now it's just sunk but in dollar terms this is the same chart they give you the illusion you the illusion the one that is working harder and harder to stay the same place they give you the illusion that you're actually getting wealthier and this is all good for you right well some bob way stock market was skyrocketing while the people were literally digging in the dirt for flecks of gold 'd so they could eat so you know that's the difference between gold and the

illusion of. price manipulation like money in the papacy of the federal reserve bank is supposed to be separation of church and state when you treat the fed like that like like the vatican has a problem america they are going to take a break when we come back much more coming your way. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then. has changed american lives but pharmaceutical companies have

a miraculous solution. based drugs to people who are chronic pain patients and believe that their opioid prescription is working for them in the remedy be certain to. price that they pay closer dependency and addiction to opiates to long to use that really isn't scientifically justified and i'll study actually suggest that. the long term effects might not just be absence of benefit but actually that might be causing long term. this is a story about what happens auster a stray bullet kills a young girl in the street. what happens to her family and daughters in florida you know the mother daughter is buried in a cemetery in healing this is with your head what happens to the community the public was screaming for a scapegoat the police needed

a scapegoat so why not choose a 19 year old black kid. with a criminal record who better to pin this on than him and what happens in court b b b b. shot after shot as far as society we feel that we don't know childress from. the end of this trial unfortunately due to the will still not know what childress. welcome back to the kaiser report i'm max hauser not time to turn to will receive all of the fold app will raise welcome the consul report back to be here all right it's out about the fold app it's pretty simple we are giving bitcoin to as

many people and the least amount of time off of all we get free because we're shopping at retailers like amazon starbucks and we've recently teamed up with the youth to launch a big calling rewards card that will give everyone the opportunity to stock that and earn money so this is really exciting i saw you tweet about it mediately want to get you on the so you've got this deal with the b.s. i can use my visa card and spend my fiasco and get rid of my fear money and i get bitcoin cash back rewards and so it's got to be the most painless way to stack faster accumulate decline ever and what's been the response so far you know it's been an incredible with far i think this product has been. you know a lot of people are going to waiting for it but we've got a great. from the community in the 1st 48 hours we had over 15000 people signed up

for the card and that number and we also got great coverage for made media always great. company able to break. yeah i mean because i know as you point out it's the hardest money ever created what's so important about hard money somebody might ask and they know i'm reading the headlines and there's 22000000 people now want to plow and in america that's projected to get to 30000000 you know. in america savings are really considered evil and keynesian economics is the way the economy should run a. and know about one of the economists like prof krugman refer to a savings goal lot he tries to develop 5 savings but if those 22000000 people have been saving bitcoin even 106 toshi is for a penny you know even a little bit you know every time you go out and buy a pack of cigarettes are coca-cola or

a happy meal you bought some you bought some soto she said instead they'd be sitting on half a 1000000 i $1000000.00 and bama will maybe to write out this this unemployment storm how did how did america become a place for savings are valid 5 well i don't think there's a better time to launch a card like that while the federal reserve is making our money seem like an infinite supply you know we have been working with youth to help them understand the value proposition of their money and in this time there's never been a better boil for bitcoin the federal reserve is that if you leave and if i'm of record unemployment thoughts are going up and unemployment is going up you know hold it here to make it the easiest way for the every man to get a hold of those that make a big difference in the life of asymmetric warfare going on the average person in

america have no savings or maybe they have 2 or 3 $100.00 in the bank and when they ponzi scheme collapses again as it does every 10 or 11 years. they asked the folks to build a ponzi scam on a wall straight get an immediate bell out no questions asked a mcginnis chain wire some a trillion 5 trillion 6 trillion whatevers made it just instantaneous and then the poor suckers who are livin as weights laughs you know they might get some money are sent to the wrong address or such act that the can't cash anywhere else got to have donald trump's they now say that chair and they really hate the population with contempt in america now sadly and the only way out is individual sovereignty and the easiest way to do that is a big coin so how's the market do you think for this going forward for the fold app out now we know we have a lot of startups on the show how big is the how big is the company now and what were you on that cycle is it really how long you've been

a around and what do you think's going to be your prognosis the next 2 or 3 years dave you know for the better around for or for a while we've seen different cycles through a few who have a name with with and we've been able to see the growth and really be able to find what the real value proposition for everyday people and we launched our mobile back in october if you have back that retailers then and now have lost part of you know $93.00 for said all of users that they would wish to a card that gives them for him back as at a fast faster airline miles if it was available and with ford you're talking size of thousands of users but we also know that we're just starting a thread and we'll see many others and that's what 'd we're going to increase 5 presser and increase success ability through this wonderful asset was all right

well i guess the model seems like it scales pretty well i know of one other company that has because cash back rewards and i think the model is a. contact various retailers they get them to sign up for the program and they get some rewards back in the form of bitcoin but the fold model seems like a scales better you just use that visa card and you get the cash to get the bitcoin cash back and let me ask you this so you know as far as pickling dollars they having are they having us coming shortly in the month of may this is happens every 4 years the minute we war is cut in half the stock to flow model model approves it's being greeted with huge anticipation and excitement in the big going community when you fall on this big nose or just another day in the life because well it depends on how long you've been you've been in this world but i would say for us it's just another day but i think it's really important for the often cycle.

paths or at least brought in many new entrants into the base generated interest beyond. merely into the wider world and then you think introduce more and more people but i think it is a moment and when you're talking about 6.0 or you know if it's all of the reward paid out in the past back reward last year in the united states. instead of airline miles the 1000000 because it would have been distributed to everyday people in a very dispirited basket and so i think when you make the have a product like the one that we are introducing you get really incredible back number one getting more people to participate but also more by fresher with even make that having a more fair let me ask you about the lightning network because this is another hot topic in the big going world how is lightning worked out so far in terms of scaling

issues has it helped or does it still have further to go what are the limitations what's also more what's give us the update on lightning so you know to be for. quickly on this lightning has. done wonders for our users in terms of using because i'm in there every day but also being a tool or for people who may not be familiar with big boy to have an experience with it and feel just like their credit card it in a bath and with all the excess that out of how to retailers and so it's really brought the medium of exchange it's a big climb to the next level and you know what we see here although there's about 15 percent of users that come in spending on a credit card switch to using lightning because they can earn more cash back on the old and so we know that it can provide an experience that matches incumbent payment method and it gives users more cash back they they and so we really feel that we

have got the infrastructure the us and the incentive through where lightning can continue to grow and now it is certainly not without it not without a issues that we're actively working on you know scaling is certainly an issue if we suddenly transferred all of the transfers going through all the credit card over the lightning you know we might have. some work to do on the network itself but the good thing is that we continue the pace of innovation in the pace of scaling you know we're going to be in a great place in the year from now to figure out world around the world is crumbling people are looking for alternatives gold market and gold and conscious all over the world setting new all time highs and such to make a new all time high against the u.s. dollar people now see when steve banana chan and neil kashkari go on television and say we've got instead of quantitative easing money printer go britain where there's no end in sight we're going to keep printing money until we fill the entire 7 seas

of fat garbage and they say the reigning of paper money in venezuela cluttering the straits you know bitcoin to this is to koreans a year max i. well you know i've been working in the paper a little bit i've never been more boys than i am now i think the circumstances that we see around the world are the perfect condition to make the big boys or value proposition shine and the infrastructure and eco system are wonderful applications that are going to be introducing big to a whole new lot of people it's all coming together going to be a wonderful year and i'm nervous but very excited or was that when i look at the local because in the charts where bitcoin is being adopted i see countries like argentina where that option a skyrocketing all over south america brazil a colombia i see in egypt because adoption is now skyrocketing and some countries that are really at the end of their rope and terms of the tolerance for the central

bank skullduggery and you know it's criminal activity actually in they are now jumping into big quake in a big way some countries like australia and they've taken the time of their time in adopting in typically because they've had it easy they've been able to print their own money the australian government has inflated that housing bubble 3 or 4 times over the past 15 years they haven't had to work really for a living they just had to ride on the expansion of the expanding property bubble same thing in the u.k. now it's worked in the u.k. for 20 years they just borrow against their home it's been a bubble and now suddenly they wait wait a minute i've got to work for a living so they're looking for hard money for the 1st time in decades do you think countries like america and united kingdom are going to finally wake up to big oil and i would include in that people like mark cuban and peter schiff a same debate

a really tone deaf when it comes to understanding this technology well 1st of all i heard about big oil is actually down in argentina during one of their many before. when you look around even by faith being made at that time the the value proposition a big one with clear hard money and a in a in a in a climate easy infinitely preferable money that worthless as the value proposition aside and we're going to have your meds and not happening across many countries that are similar thing and as we see adopted there we are also going to be the. people in the united states the mark cuban the puter see that number go up and blow 'd into it and it's going to be a worldwide movement to get up there and i think both read and play important roles in the adoption of bitcoin but i truly believe that you are right that the the the the core and go to dothan that we're going to see is that we primarily in the countries you mention and the u.s.

is probably going to be following not too far behind that well raves thanks for being on the kaiser report great to be here max thank you and that is going to do it for this edition of the cause report with me max kaiser estates are going to take our guests well reeves told jonah catch us on twitter skies to report until next time via. phone. when i want to show him wrong. i don't. just don't. want to seem proud. apple. and in. the wrong. one the find out well some aren't. the common ground.

south bananas is to put on a chain on us going to continue a little spike that's them. on their own that it is a. bunch of old of the. local just to. still. show was still up. use them will push it. puts a new put it's not just on thoughts and you will not i'm one of the so that has to stop it thanks to. just.

for years i had treated patients with heroin addiction with high dose methadone which is the appropriate treatment and so i was thinking well i see how well that works for all these people and they don't tend to overdose on it or have a lot of side effects or have any problems so why wouldn't that be fine for pain patients i do recall individual young man who had a rough go early in life. was in recovery you had a number of back surgeries and i was in the middle of a tapering course switched him over to methadone for his other drug to ease his paper and using misguided.