thinks. we. ask. them x. times or this is the kaiser report i guess you know we're going to talk about more and about how you know jobs are not really needed in other part of this lockdown people assume that millions and millions of people to use in their job would have some immaterial impact on the fortunes of the economy as a whole but no it only affects the surface clubs the presence of matter of fact it's a great opportunity if you're in the banking elite and you see stocks trading higher and bank stocks will mean higher workers are needed taxes are needed when

you can. bur money for go burn you know. max we've talked about the cantillon effect for the past few years here and that's when money printer anybody close to the money printer they get it 1st the oligarchs the cup the kratz the caca stock or c. they get the money 1st they get all the benefits of 0 percent interest rates and the further away from the bunny printer you go the more income bird with debt and grotesque nesting toxicity of all the fraud that went before it so we're seeing this unfold around the world but i do want to make some notes about the set we have a palm tree now in the background because we are you know feeling like summer is coming on and that might be some sort of hope in the future about this cove in 1000 global lock down we have a fine as an investment handbook here that we will need in a few moments to explain negative. rates are negative prices on options

but i do want to also say hi to juan one tanya because our latin american audience our. version of kaiser report is like rocketing we have so many amazing viewers there we get constant emails so many tweets from them and he says you got one new follower i've seen like 10 of your videos so far in one week and i'm delighted with their content greetings from colombia. see max is learning spanish just for you and of course we need that for the money printer go back because that is the ruling ours but i want to show you something about this council in effect and and in fact that the cantillon an elite there is the elite of cantillon around the world they're the same class of people who get the money printing 1st and then what do they do they run away with it at the 1st sign of trouble there's capital flight and then we have life imitating art when i go back to 2008 max this is alex shaffer's chase burning this is a part of j.p.

morgan chase the biggest bank in america and this was a metaphor for the banks being responsible for financialization being responsible for our economy and our societies burning down such oh you know that is part of the global answer action against banker occupation right that's been going on now for 01112 years has growing skirmishes coalesce to a global movement because there is only one issue that anybody concerned about you know society should be thinking about and that is the can to win the cotillions that cantillon they get any ends the can take italian that they can sell eons right now the catalonians they live in spray for as if they cannot ows they also live in france she can't delimit can't tell the ins. well they're gross

they're a gross population of grubbers well we're seeing their impact in lebanon and this scene i'm going to show you we obviously do not condone any burning down of banks literally but i'm showing you the important moment that is the essentially the cyprus. this round of global financial collapse and this is an image from tripoli in lebanon banks set on fire in lebanon as currency crashes and hyper inflation events and we're going to show this little clip of the video with the guy with the we put a big coin over his face spoken not mine he posted this and this is a video of a guy watching the bank on fire burning down and then calmly walking away and i think that's really important sense as a metaphor for what we have to look at with this global situation because we have financial collapse we have economic collapse and we have to stop going oh my god we

need to save it we need to save it do anything fed do anything treasury we need to just calmly walk away and let that system die and move over calmly to our new big queen gold hard money the hardening we need to just step away calmly and the question is what makes more sense burning a bank or buying bitcoin so if you burn a bank there just build a new bank so it doesn't really have much impact but if you buy a bit coy you are putting the banks out of business you're putting they can't tell the ins out of business you're putting fractional reserve bankers out of business or putting the central bankers out of business if you buy bitcoin that's why every spanish speaking person in the world every person in the world in every country in the world needs to be by bitcoin as a way to opt out. of fraud opt out of the can still eons opt out just opt out then or more and more people are doing that if you look

at the quiet option charts in countries like argentina there's 0 mean higher brazil zooming hire argentina zooming higher mexico oh mexico zooming hire places like the bitcoin embassy club in mexico city or attract huge crowds because people realize that there all 'd the hope out of this mess is through bitcoin well of course not everybody has opted out yet and they didn't learn the lesson of 2013 when the cypriots had a bail in their wealth got confiscated argentina in 2001 they had the same situation many argentinians had savings and dollars in u.s. dollars and the government seized it overnight the central bank of argentina seized it overnight and devalued there and they basically took 75 percent of their u.s. dollars here in lebanon we've seen the same thing lebanon cities erupt against economic hardship one protester killed in tripoli banks have been a target of people angered by being frozen out of their deposits protesters in the

southern city of siddhant chanting revolution petrol bombs at a central bank building inside its exterior on fire before smashing the fronts of banks and beirut dozens marched across the city somewhere in medical mass while chanting against the financial system and shouting for more lebanese to join later crowds hurled stones toward security forces positioned in front of the central bank so at least they're identifying the underlying cantillon effect the cause of a lot of our economic crisis around the world is that there is a select group of people who get free fresh 0 percent interest rate cash they're allowed capital flight all of their cash got to be taken out of the country and he sucker you know at the poker table this global neo liberal cantillon poker table they get trapped all their money is trapped inside the bank and they can't get it out but i. re re reemphasize that burning bank is relatively ineffective the rate i mean you can rip

up lots of money i do it all the time when i go to events i rip up money all the time i ripped up probably $5060000.00 at the feet of money over the years it's all garbage compared to the bitcoin it's literally garbage just like you know any u.s. dollar when you compared to big point it's like venezuela all of our littering the streets where you have big quake of not 9000000 percent when it goes from a $1.00 to $1020000.00 you can literally use any fee at money in the world to wipe your self after you use the toilet because that's the only thing you could possibly use it for fear is only good for a cockapoo there is absolutely no use for it stop burning banks just buy big corn and let live sue toshi. do what he's going to do anyway just don't get so dramatic i might add that here they're chanting revolution and that system of 8 it and

cantillon effect like that can tell an elite that is what john f. kennedy would have said basically revolution happens if you don't allow a peaceful way out well be a coin is the peaceful resolution to this problem and least these protesters and levanon are like in a very 'd. hyper partisan constructed it's a system that is constructed to be hyper partisan by the you know the imperial powers that left essentially they are united across all sex whatever religion whatever group you're from that they're saying like the problem is this central banking system it's not individual partisans like you know how they do it in america where principles and these notions of and ideals of natural laws of our rights of man of our individual sovereignty go out the window when it's parties and when it's red team blue team republican democrat we see that with the issue of this

assault that was as alleged by some women against joe biden and of course the entirety of half the population no longer cares champion that so this happens on you can see that in a in an economic and financial way just like on the left wing in america if it's larry summers doing this plunder and feeding cash or tim geitner feeding cash to their leads then they're happy and that doesn't modernise the principle there's no principles involved the same thing they're against you know anybody on the right arm steve newton doing this stuff all you need for proof that we've entered a new era of distraction. is the pentagon's report that they released video of. and they released this video and said look we actually we've been sitting on this for a while and we found aliens and the response by the news and by the collective

media outlets around the world was a big yawn like we're totally busy down here with other stuff we don't care about aliens anymore that's so in 1950 s. we're totally distracted by the mesmerize ation and hypnosis of the fake crises caused by money printing that we didn't even notice when the aliens arrived that's crazy things are but again don't burn a bank chill and buy bitcoin and i guess before we move on from this notion of financialization and how it's broken all sorts of you know laws of physics we must point out why we have this book finance and investment hamba why do we have this cause we had a small print just briefly and the options market a put option traded at a negative price so how is that possible what does this handbook tell us max right this is the famous and investment handbook for my library one of the many many many

many books i have on finance and. there's nothing in here that talks about trading a put option on a negative commodity price right because it doesn't exist this is an alien this is like the pentagon seeing chilean life form suddenly right this was an alien life form was a put option on a negative commodity prices never appear to stop or happen before it's there recover as in the no text book just like negative interest rate is a no economics textbook going back 300 years you'll never find that because it's it's an aberration live in a remarkable time because you can trade any phantasmagoric all nonsense that you can imagine over having a 5 or 6 cocktails that harry sent over in new york city's wall street area and come back to the office and decide hey let's trade that and uses collateral for a $1000000000.00 loan to ourselves and then we're going to buy half a $1000000000.00 yacht and then we're going to get the fed to pay for it and then

everyone else are going to die and we don't care because we're crazy psychos and that's unfortunately the reality and then last 30 seconds here i want to talk about that the peaceful weight of walking away from the system and letting it burn down shanghai gold boss once super sovereign currency for post crisis times the president the shanghai gold exchange called for a new super soften currency to offset the global dominance of the u.s. dollar which he predicted would decline long term while gold prices rally he sees that the future global trade needs a super sovereign currency system which no single country has the power to freeze that international assets of another country and this is exactly way see those protesters in lebanon burning down banks because their assets have been seized essentially by this corrupt system here he's saying our global trade all these imbalances all this cantle in effect all this unrest all these constant boom and bust where wealth is constantly gets created created and thrown to a certain group of people this is all caused by the u.s.

dollar system as i predicted a long time ago. china's moving away from the dollar they're moving toward a hard currency they're going to use a crypto card say they've already announced that now and next thing they're going to announce that that's going to be back in part or entirely by gold as i said all right let's take a break when we come back much more coming your way. join me every thursday on the alex simon sure and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then. time after time corporations repeat the same mantra sustainability it's very important to accelerate the transition to sustainable prize board sustainability stay in her manner a more equitable and sustainable well. they claim their production is completely

hamas. leave it to congress on the mountaintop and it does not the present companies want us to feel good about buying their products while the damage is being done far away this is something else this let's keep going down even and i mean look. this is the move in unison we didn't dream and einstein seemed to be based on that one disc that looks good to clinton. welcome back to the kaiser report imax keyser time now to turn to nic jam brunel he's a geo political analyst who is currently in argentina nick welcome great to be here max now argentina like lebannon is experiencing a currency crisis both countries are already facing economic collapse before the

coronavirus now a lock downs of caused more economic chaos so tell us what's going on in argentina mick inflation is running out of control. is headed towards 0 which is not a surprise to anybody familiar with argentina so even before the coronavirus hits argentina was in for some serious economic troubles and just by way of comparison i know you and stacey came down here in december in the currency is lost i know it's use about half of its value in just a few months sense so it's headed for another one of its sort of perennial financial crises so are claiming argentina is the next venezuela but other than the hyperinflation argentina same to have a far more diverse economy both socialist a male liberal administration 7 account for the same capital flight an economic catastrophe what keeps going wrong in your opinion nick everything keeps going

wrong argentina has an abysmal tax system an abysmal regulation system it's impossible to do business here that's why capital is leaving but argentina also has a strong underground economy which is actually contrary to what many people believe is a very good thing it gives argentina resilience to get past in economic crisis argentina was the 1st junk rated country to sell the so-called century bond raising 2750000000 at a 7 point. 9 percent yield and june of 2017 it matures and 2117 but argentina will probably go bust a least 5 times before then so what's your thoughts on what's next the whole situations of giants farms and as an indication of the central bank manipulation of interest rates which are you know are very important they're not just very short interest rates or the most important prices in all of the market so when you have

a central bank manipulating you know the political role of central planners manipulating the most important price in all the whole economy you get enormous distortions so what you just this is this and this is a perfect example of an enormous distortion argentina issuing 100 year bonds and not just 100 year bond 100 your bonds it was oversubscribed so you had investors piling over each other to lend this government money which is completely ridiculous but it's only because of the overall manipulation of interest rates lower than they normally would be that these investors were starved for you so little things that a joke i mean it barely lasted a few years before they're going to default again so to be honest i don't feel bad for the people who think they get exactly what they deserve by investing in arjen times under your bonds and i and i hope argentina defaults on it and they should teach people a lesson too when these governments money like this as they know what happens as

the ultra capitalist like paul saying where they come into the story they buy up the government bonds and then they commit you know brazen acts of financial misdeeds same to be in cahoots with the government i don't know how anyone could separate they argentine government from pa saying there are any of these other crux but in 2001 you know they actually just stalled people's money through confiscations in argentina defect they'll do that again and are people preparing a pickle and are they gonna let themselves be ripped off again yeah i think it's. going to happen again but 1st i would say that it's what happened what you're describing is that arjun science has it was something called the coral reef zone where arjun science had bank accounts denominated in u.s. dollars and they woke up one day to find out that their dollar account said ben forcibly converted to pesos but at a terrible rate and let me just say this is happened in the us something like this happened in the u.s. when you when you think of the gold confiscation that f.d.r.

did in the 1930 s. that was basically a correlates all that happened in the u.s. americans went to bed one night thinking their dollars were worth excuse me a goal or an ounce of gold was worth $20.67 and then they woke up the next morning finding out that the government revalues in effect b. took something where a dollar was worth about 1.5 grams of gold and then the next morning they woke up when the dollar is now worth 2.8 grams of all there's a 40 percent devaluation so the same things happen in the u.s. it's just a little bit of a different story but the going back to your question yes it is going to happen again in argentina probably assume you know because the currency is just losing value rapidly and the government is going to look to grab as many dollars and other assets as as as a can and see your other part unfortunately not a critical mass of arjen signs are picking up on that point a lot of them are in relatively speaking it is it has a higher adoption rate but this is where you know it's arc about the you know the

vultures and the i.m.f. coming in and really dictating what's going on here. argentina is going to have an economic collapse that's baked into the cage so what comes after what comes after that is uncertain so they may as i see it the arts and science have 3 choices they can go back running to the i.m.f. and be slaves of the i.m.f. they can go to the chinese and be slaves of the chinese or this is going to give them a chance to adopt bitcoin it really will give them the a chance to adopt a big point as it's based their economy are out there used to be a saying. 100 years ago it's a joke now all they use is there is you saying rich as an argentine because argentina used to be on a par with the united states as a rich country 100 years ago so argentina adopted good point in the end it is a fertile country for big point adoption for an a lot of reasons but if after this next inevitable collapse instead of turning to the i.m.f. instead of turning to the chinese argentines turns a bit coin that rich as an urgent sign saying it won't be

a joke anymore it could become another reality i mean argentinians need to remember as well as the prison hands on the colombians and the mexicans that because it is on confiscate a ball right i mean you talked about the coralie's in 2001 the government just basically stole your money which is similar to what happened in the 30s with f.d.r. the government just came in and confiscated your gold confiscated your money so we now have something that's on confiscate a ball and that of course is because any argentinian that has money outside of bitcoin expected to get stolen all right so fear our fear an argentinean or a mexican or a colombian or brazilian if you have any money outside of because i expect it 100 percent guaranteed it's going to get stolen by the government that's just that's just life baby you know it suck it up as charlie munger would say but you know it's interesting here america are currently the program is not just confiscation of

wealth i think i would compare to a giant cram down you know that in corporate america when a company wants to take over another company they can engage in a cramdown or they flood the stock they they flood the company with a preferred stock to millions and millions or hundreds of millions of shares and they take control of it that way here they're doing the same thing it's a it's a national cram down the federal reserve decides to flood 678101520. trillion dollars that they create and these it's a control of all the assets all the assets are now going to a few people in the u.s. and we're becoming the so-called banana republic that we used to accuse lot americans of becoming america's becoming it's kind of a combination of argentina in the 1970 days and the soviet union in the 1950 s. when you put those 2 together you end up with the united states of america and the

current situation. but 1st talk about what's happening in china hare nick because i know you have far reaching interests the president of the shanghai gold exchange is calling for a new super sovereign currency your thoughts on whether this could help imbalance in the global economy next anything that puts gold closer to its proper role which is to say the center of the mind global monetary system is a good thing and yes that's that's a great thing but just stepping back to what we were talking about before what's the common denominator in all those examples you just laid out it's a money system an essential painting system that enables all of that so when you have big point when you have honest hard money it prevents all of the frauds and scans and swindles you just mentioned so yes china introducing gold into a more prominent role in the global economy is a step in the right direction i'd rather i don't like to see more gold more bitcoin

as the base of the global financial system it will really it will really help to inhibit all of the fraud and financial engineering and scams that's going out there that is made possible only by central banks and the money yeah i couldn't agree more i just why i don't understand why none of the a lot american countries figures out that they could become a super power simply by dropping the dollar and going to pick line i mean are they that dumb nick yes they are then dumb and that's the problem because if they were smart they wouldn't wait until crisis to consider this option they would adopt it immediately but that's not reality what's going to likely have been in argentina probably will be the 1st one is that it will take a crisis it will take a total currency and economic collapse for them to even consider it and even then they might not choose to go down that path they may choose to go back to the high amma let me just say something about the i.m.f. as somebody who supports a nonintervention in the i.m.f.

is just basically a tool that the u.s. . foreign policy tool that the u.s. uses to meddle in other countries so as somebody who is and supports and not interventionist foreign policy and austrian economics i think the i.m.f. should not only be abolished and disbanded immediately i think salt should be sewn into the soils psychological soil so that a copycat can never emerge that being said there is a chance the argentines could go running to the i.m.f. again but there's also a chance they could go to bitcoin instead and i really hope they choose between because it is going to take a collapse for them to reconsider their the close to the collapse and they're also their economy is geared towards adoption because they have this massive underground economy and underground foreign exchange network that basically everybody uses year that can be very easily retooled to use big chlorine instead of dollars instead of europe they point to argentina already has a huge underground economy adoptive big calling it would be if they all right nic

thanks for being on the kaiser report thanks max all right he has got to do it for this episode of the kaiser report with me max kaiser and stacy harvard law thank our guest nick jam bono if you like to catch us on twitter it's kaiser report until next time bio. there's 2 kinds of leadership crisis leadership and non crisis leadership. you non-crisis leadership when things are stable and there's news and prosperity in the past produce the future and you just ask makes the trains run on time a mentally healthy person is a better. crisis periods when you need creativity and risk taking and the differently if they did those mentally healthy meters as you're not as good as us.

we go to work you straight home. so what we've got to do is identify the threats that we have it's crazy fun fun tahsin let it be an arms race who is on offense very dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk.

with you have been listening not only. on money. for october. it will take a machine if. we're not getting a lot of live. you must put that one on bigger one. early on i learned a. lesson as i've been representing the 100 housing blowing dielman. on green power bama. just built roadways want me to.

you know if there's one homeless person in the country that's a bit. you should have a civil society a rich society you know which people have to sleep on the street or big i mean that's just you know.