influencing or disproving the value of their food because they're already making a $1000000000.00 on it and there's no reason to do that research. love. love. a little bit oh i'm max kaiser this is the kaiser report possibly the best news one

could ever imagine has dropped and personally. gobsmacked i don't know why but i am i shouldn't be but that's the way it is what's going on as they say max not only has the havening or the having just happened this is a very important event had only happened 2 other times previously and big point history now we have the having of the block reward we're going to get into that in the 2nd half a dent held but here we have of course having so that's the hardening of money the hardening of the people's money in a time of hyper softening of money and infinite fia it and who steps into the rink into the big coin rink with all of the arguments that we've been making for the past 09 years about bitcoin here on this show well paul tudor jones buys big queen with reminder of gold in 1970 s.

macro investor paul tudor jones is buying big coin as a hedge against the inflation of the role gold played in the 1970 s. he says quote the best profit maximizing strategy is to own the fastest horse this is incredibly big news paul tudor jones is a seminal figure in the hedge fund industry in the money man and man industry going back to the early 1980 s. even before and he's got about $40000000000.00 he's got a position now and big coin in the low single digits we know that typically his style is to scale into a position so i expect him to be 5 or 10 percent of that plus he is the ultimate alpha dog in the big coin space which he does every one of those 10000 head phones out there will follow to some degree. now bitcoin is officially on the map the same at the same time that warren buffett kind of exit stage left everything that's old and not working anymore like warren is off the stage and for paul tudor jones the

circle has come full circle because when i started my career on wall street the early 1980 s. walter jones was kind of the king of wall street at the time the invented this idea of the lone gunslinging hedge fund moving markets up until then the hedge fund industry was somewhat behind the scenes a quiet not many people knew about it of course george soros and jim rogers had started the quantum fund very famous but jim rogers invented the idea really of the gunslinger who can come in a move markets and there's a great video of him on you tube if people do a search of him back in the early 1980 s. it's just him in his office who had maybe 2 or 3 screens or quote trances reached a call them and protecting on the world and winning no no no quantum physics just him and his brain and the world yes a single low single digit percentage of his assets isn't big quine futures that's

one of the biggest hedge funds to get involved openly anyway so many behind the scenes might be involved they claim but this is again you know it's just low single digits his portfolio but it's a mammoth portfolio so this is a sort of money that we've been saying since 20112012 i think you can find out onto the move in our series where old clips of our show where you saying that once the hedge fund money comes in you were talking about this with barry silbert for example you know this is this is going to be a game changer and the reason why is because of what we've been covering here for the past 10 years as well is that this thing will implode all of this money printing all the fi out printing all the softening of money and it gets softer and softer well that's going to all blow up and by his calculation $3.00 trillion dollars of money the equivalent of $6.00 per. sense of global economic output has been printed since february quote it has happened globally with such speed that even a market veteran like myself was left speechless jones $65.00 wrote we are witnessing

the great monetary inflation and unprecedented expansion of every form of money unlike anything the developed world has ever seen any made the perfect comment he made one comment one sentence that is the most intelligent thing anyone even in the big point space has said simply that bitcoin now reminds him of gold in the seventy's yes ok what does that mean while gold one from $35.00 to a 100 he's buying bitcoin in the 829000 range that would be equivalent to buying gold at $35.00 an ounce that's true because just as gold made a $45060.00 x. return so will bitcoin remember my target was raised 100-002-4000 extension 048 big coin a couple of months ago based on its equivalency to gold as i stated implicitly at that time now polter to jones or p t j p t j as he's down to the digerati and the illuminati not really b.j.

like a peanut but i don't like a peanut butter and jelly sandwich right he now has put a stake in the ground and said look i'm going to be rallying and he would be 'd saying this is unless he was ready to pull the trigger in a big way and so this is the beginning that massive run 210-0000 beyond this is now the beginning i think a lot of people's faces are going to get ripped off. just just torn right off their face peter schiff obviously it's got a massive this going to have to explain to his clients over there europe what the heck he's been talking about up there we go this also importantly comes just days after or in buffet went on to stage on his own and the sad spectacle of betting against america by accumulating 138000000000 in cash or 130. $1000000000.00 in cash finding nothing worth investing in and he's just too filled with pride to admit not only did he get gold wrong and big wrong but he doesn't even have the ability to

understand the market as it is even the market as it is warren buffett made mention of the fact the same fact that paul tudor jones just made there of the fed printing so fast and that this is never been done in modern history and therefore he's looking to the seventy's and what gold did as a protection against that warren buffett identified that same thing that this is unprecedented and just took his toys out of the market and went away because he doesn't know how to even play he's he's too scared perhaps to even go along that corner gold but where this is going in terms of the the great. softening of fear it's the hyper softening events we see going on here's geoffrey going to lock these trillions treasury is borrowing is heavily in t. bills chairman powell has stated in plain english he is opposed to negative interest rates yet the pressure to go negative on fed funds will build a short term borrowing explodes and dominates please no rates less than 0

equals fatal what we're talking about here is paul tudor jones when you start with the seventy's and gold the u.s. went bankrupt in 1971 when they failed to pay their international debts in gold as the contracts originally had stated they just paid them back and what they're saying now if the u.s. goes negative on interest rates and jay powell is saying he won't do that but he's being forced by the market to that that's the end of even the fee up world so who knows what happens it's going to have to return to something else right negative rights are coming and a lot of people say well you can't go negative on the world reserve currency they also said you could ever print a negative oil futures contract then said you could never print and negative interest rate on a sovereign bond that's already happened and think about warren buffett for a 2nd i mean i pity them at this point because he says he doesn't like stocks. and he's hiding out in cash but his cash is about to go negative returns from negative interest rate on his cash that's going to be losing money on his cash pretty soon and he said i would never own gold and i would never own bickley so the only 2 life

boats for warren buffett at this point are gold and decline and he's out of pride he's going to stick on his negative interest rate cash and he won't buy stocks so he's already underperformed the s. and p. for 15 years she's going to end up his career as basically a glorified money market that was a round trip to nowhere that everyone will just forget about as the hardening happens as you have gold and bitcoin rise in price and harden in price and hard in the quality of money that it is for the ordinary person you see a lot of scam stores emerge so you see all these people pretending to be max kaiser for example on twitter and people are following this fake max keiser and then there he sends a message is asking for bitcoin that's a common scam that happens in big kind in the hardening of money you see the hardening when when a see same in gold in the gold market

a penny stock sort of pump and dump emerge there but with the softening of money you also see this sort of the explosion and scam stores as well because the the free money from the fed feed so many of these people so i want to look at this headline here about private equity and those very well connected these guys k.k. are blackstone carlyle group all these massive private equity funds that tend to hire a lot of former secretaries of state a former presidents and vice presidents so they have a lot of those sort of people on their board as a record number of companies fall into the lowest rungs of junk moody's finds that the bulk of them are backed by private equity. companies so why is fiat's why is the us dollar becoming so soft and junky itself because this latest round jay powell who doesn't want to go negative rate he's bailing out the junk bond market

that this is the 1st time knowingly are out in the open that the fed is doing that right while private equity as a term is a rebranding of what when paul tudor jones was active on wall street in the eighty's and clearly making his bones we used to call green mail always to call hostile raid. and a big guy a negative terminology the movie wall street came out and michael douglas played a corporate raider and you know they say and i was you need to reprint the corporate rating so it's caught you know private equity and of course a mitt romney out of being capital cherokees also private equity asset stripper that was also a term used frequently to describe what's going on here so private equity is the new softer version of what is essentially asset stripping or a leveraged buyout fund and so leveraged buyout fund is the fund like mitt romney's bain capital what pledge the assets of the company they want to acquire as collateral for a loan and then they take that loan they buy the company split it pay back the loan

and what's ever left over they keep and $1.00 of the most prized objects of a leveraged buyout is the pension fund so for 203035 years now these assets trippers the private equity guys have been acquiring huge corporations with borrowed money and then dissolving the pension fund and firing a lot of people and they raid the pension fund in this way and they steal people's pension and then the fed comes in and hits them again by lowering interest rates to make it possible to acquire a borrow the money to create the hostile raid and now on the money left over you can't get anything in a bank account because 0 percent is not common on a money market account right so that's the private equity game but it essentially transfers debt for equity you take a viable corporation with profits and revenues and pension and savings you strip it and you load it with an incredible amount of debt and now when you can't pay that debt it should go bankrupt because it's in

a legal form of market manipulation and profiteering that should not be allowed but was allowed to grow and you give it a huge federal bailout to make whole the asset strippers by the way that is why we are at the point where jay powell is bailing out. junk around the world and in the united states especially because the junk vacation of the american financial and economic system was due to the private equity model back in the seventy's and eighty's that 1st started hollowing out a company hollowing out the balance sheet and leaving just a carcass that's the warren buffett model that's out paul tudor jones because gold is the future right juan buffett mitt romney out paul tudor jones are you going to take a break when we come back much more coming your way. during the vietnam war u.s. forces also. there was

a secret war. and for years the american people did not know. how much it is officially the most heavily bombed country per capita. human history millions of unexploded bombs still in danger lives in this small agricultural country. even today kids in laos full victims of bombs dropped decades ago is the u.s. making amends for the tragedy and. help to the people need in the too little and don't. seem wrong. to me. to shape out to stay active. and engaged in. the trail. when some find themselves worlds apart we choose to look for common ground.

welcome back to the report imax keyser time now to turn to dan held over there a crack in full disclosure stacey and i are both early investors and crack and jam held welcome finally to the kaiser report x. thanks for having me on have been looking forward to this as this airs the bit coy having is either happening or has just happened we are pretty recording this so we won't know the actual price or hash trade response except her but what do you predict for some of this short and medium term consequences of the having right now this has been is very very special compared to the previous happens that occurred in 2016 in 2012 with this have been we have the macro backdrop of global financial

crisis i mean you have probably the worst financial crisis in over 100 years and so decline this time you know between a special purpose built to be a new sound money and new gold or no and so that message resonates really really loudly with a sort of macro backdrop so you know for the short to medium term i think we're seeing a lot of we're seeing a lot of investor appetite for this new asset we had paul tudor jones today announced that he's allocated low single digits of his fund 80 women into becoming which is a huge social validation metric for this asset so i think the big crying word you know is right now it's on the verge of $10000.00 i think it's a perfect setup for a big bowl run i've been in for a long time i know you have to me been around since i was a dollar 10 dollars and to see it at $10000.00 is use incredible it's revives on but i think the best is yet to come let's talk about politics counts for

a 2nd so up until now we've either had made some economists like nouri al rabbani paul krugman trash talk but coined we've had most people in the gold. sector kind of trash talk bitcoin couple of wall street people like peter schiff have come out and he's been trash talking bitcoin one guy that is on wall street or a hedge fund there. you know a couple of them have come forward and they have done they've dabbled in big but we've never had wall street royalty like paul tudor jones who virtually reinvented the hedge fund in the early 1900 $86.00 step forward and say this is going to be the fastest horse in the race as we revisit inflation due to this massive money printing and as you point out big corning was purpose built to handle quantitative easing and irresponsible central bankers with the hardening which is another way to say the having would you agree with all that absolutely if you know as you re

single government and central bank across the world is doing the quantity of using we've got quantitative hardening happening was because. for those who don't know is the moment when because i know that's issuance reagan newly minted big. house which is coming up here very shortly on the 11th or 12th and this is a monument just moment because that brings because. lower than the u.s. dollar in gold now that is a little bit you know for those who might be ok to some exactly correct a little bit of nuance whether to call the inflation rate or issuance rate the trend is your friend as they say in money management business let's stick on paul tudor jones a little bit he said this is like buying gold in the 1970 s. so gold of course made a move from $35.00 an ounce to $800.00 an ounce you could extrapolate from that statement that he thinks that because when it 9 or $10000.00 or higher a coin is like buying gold at $35.00 an ounce so he's looking for a 40 x.

return that would take us into the $400000.00 down which would give it a market cap in the multi-trillions that would be a para pursue with gold and i think that's where we're going in other words let me . asked us to his statement is it's the fastest horse in the race on the reflation trade so why isn't he buying gold because for every dollar in price appreciation of gold you get $35.00 to $40.00 of appreciation a big point dan what do you think your coins return per unit of risk is phenomenal this asset was really tiny you know the market cap is miniscule right on the market around 180000000000 this is tiny compared to cold indeed coin used to find is gold 2.0 i'm so. very much will be a contender for gold once it hits $100000.00 to $400000.00 that's not necessarily what i'm calling the top that makes it just a contender a new world renowned or will recognize. it so we're very you know very much in the

early stages because that option now let's move over to some other major news that hit the tape recently iran is now getting in on the bitcoin mining game ukraine is also indicated interest in mining so let's give a big picture here because within the protocol as it was birthed that the genesis bloc january 3rd 2009 was game theory baked into the protocols cake and it played out in the mining business we saw the mining sphere of mining influence jump around the world from eastern europe to china to iceland and it seems to this game theory plays out in the mining sector it plays out in the whale sector you know certain people or accumulate are not accumulating the kind of playing a game with each other there's a certain game theory but that game theory baked into the big protocols doubt jump to the nation state level with iran ukraine who have been squeezed out of the

forex market because the us dollar is cents or a ball the us dollar is confiscate all these are things that you don't find a big going is the fact you've got nation states now dragged into the big point gay . fairy going to be in a pocket of event in your view also dan between game theory essentially dictates that you know every single state right now kind of bows down to the dollar the dollars the world reserve currency out there you know and with big quiet now now we have an incentive for people to become confederates to break away from a local standard adopt this new what ones that were previously pushed out of the you know sort of control that the u.s. had over them or control or really you know the u.s. financial system so you know with big crying we now have an option for these nations day so then go take a big point stand you're going to have that be aired their currency or about their future currency in the incentive is that if they get in early there's a priest appreciation of facts who are if they get in early the course appreciates

now a small country like you crazy could be enormously wealthy and so these are really really interesting game theoretic plays here you know because as i like to put it a coin is just code that that enables game theory to work the way the different participants in the big quinn network are incentivized now because it has grown as a largely been a factor in siri baked into the code along with the toshi plugging in some very basic human assumptions like humans will be greedy and so i think the coin is well positioned and this is sort of the you know for those who watch game of thrones this is a this is kind of like the final game this is need this is the chair you want to sit on and becoming has made it's about final and i think it's incredibly not waited 8 years to see this moment so i think it's going to be nice you may wager essays that come out often and that date that while thought out there well researched and you have really dug into some of the nuances of decline in the protocol i want to ask you this question however to wake there is what's called the difficulty adjustment and this seems to be the big quiet protocol and kind

of almost as some would describe it as a living organism in other words it's. joel and a lot of ways and if it is a managing to. a call k. itself within the global economy by some very interesting technology within is this i just want to question if it difficult the adjustment and i'm ill people have been right writing about this i think maybe even you wrote about this does it equate to some degree to a living or going to a living organism damn yes so i wrote a series called claims him because there are big points of origin story that soto she's brilliance wasn't just in this species of new money that he chose to ask but he was the season this well regarded techniques and so when we look at crime and we look at some classical definitions over what you know what would he organism is there are some interesting characteristics in terms of adjusting energy and

reacting to that in just a dingy because according minors and just electricity yeah through crucial work they used to enable the recurring botching to function but this kind of glossing over a lot of the technical stuff but just for specific purposes and big one reacts to external factors so it does that you react it has stimulus to you know if you can react to changes that happen to it it also attacks sort of all because code isn't static it does change over time to enable new features and new functionality there's a really interesting term to keep the brain in quidam him up which is called i don't think it came up this term but he made me aware of it called horizontal gene transfer so from guy right actually able to ingest the d.n.a. of other organisms and splice that into their own and so the coin does that according to takes d.n.a. or code snippets or different feature sets that are advantages for survival as a money and you can take that from other learnings of other crypto assets or less and you can modify itself to survive so you know because it is sort of he exploited

or money just like you say think global economy and financial markets and forex markets being transformed by the presence of this hardest money ever now. and in history we also see a incredible disruption in the energy markets right now and getting back to this nation state question what if a country like iran says you know what we're going to dedicate huge state resources and move them from energy extraction to mining back calling because we could be going from a petro dollar world system to a big coin currency a world system is that a possibility yeah this is where you get super interesting because nation states typically are the ones who. go forth and do really big energy projects like solar hydroelectric cetera and for them they got just pretty much risky sources that are sometimes left on tapped so what do you do with all that free your very very cheap electricity and you can get coins that and with that you can now make your own

money that is a sovereign money that no one else can touch the united states or russia or china they can influence in you can take that money epic when you're able to use it whatever fashion likes of it does give the states who have energy resources to help them exit you know us as you. mentioned system so let me get your comment on this true or false and then you can speak on it big quite separates the state from money than true that is the exact purpose as it so she built this for as he says the core problem a central banks in banks are bet they require trust to work we must trust that central banks will not print more money we have to trust the banks will lend out money too much know too much of a little fractional reserve requiring resets all that in between is the new money that is trust us it is require you to trust anyone else let's say the u.s. gangs up on decline or they get the u.s. and great britain and some other countries decided gang up on britain and they decide they want to control bitcoin but is the truth that that would only make the halfrek go higher which would make the security aspect of it increase which would

make it more valuable as a safe haven which would drive the price higher and that it's a lose lose game for that then true it is certainly a lose lose situation for me. states you can either attack it so that would be trying to disrupt the protocol but by doing that they would recognize that they're scared of it which all the fun in the world is basically built on confidence me your confidence in control this would indicate that they're not in control now conversing the scenario that you came up with which is them buying big cornermen unit yes that does increase the current security so by participating or mine you never buy and are trying to control it essentially security which makes it harder and harder to attack so as you can see fractional networks are awesome dan hell thanks for being on the kaiser report thanks for having me max well that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guest damned held of crack in that stand held h.e.l. day if you want to catch us on twitter it's kaiser report that i buy off.

the bat is the in. the drawer of operation in dying one some of the wealthier neighborhoods it's been far more contained in the numbers are much lower than some of the more a neighborhood. starting to see if anything we're working with can source outside of the state because they're just so easy here so like anything out of this . so what we've got to do is identify the threats that we have it's crazy foundation

let it be an arms race. and spearing dramatic development only really i'm going to resist i don't see how that strategy will be. very. time to sit down and talk. during the vietnam war u.s. forces also bomb to neighboring laos there was a secret war. and for years the american people did not know. how much it is the. country per capita. millions of unexploded bombs still in danger lives in this small agricultural country jordyn wieber. even today kids in laos full victims of bombs dropped decades ago is the us making amends for their tragedy and. help to the people need in that little land of mines

. come in spokes person to meet the press scoff test positive for cope with 19 becoming the latest senior official in russia to catch the virus. protesters clashed with police in germany france demand a complete end to the lockdown it comes as figures show the risk of infection is once again on the rise in the country. afghanistan is rocked by 2 large attacks leaving dozens dead gunmen stormed a hospital in kabul suicide bomber targeted a funeral in july.