we go to work. straight home. i am max geyser this is the kaiser report you know stacy back in the 1970 s. i recall supplemental advertising was illegal in l.a. soft drink companies would run an image so fast on the commercial of somebody you know in a desert you know hydrated and this was when by and it it your unconscious mind and this was deemed illegal and some were taboo but you know we live in today where all all communication now is supplemental internet tax the sub conscious and

the unconscious in the form of me miss we're talking means in this episode because means carry ideas thousands of words that it might take from your mind in a speech it filters it down to one powerful image of course you know 1st i'll start with what is that mean just asking google what is a mean noun an element of a culture or system of behavior that may be considered to be passed from one individual to another by non genetic means especially imitation of humorous image video piece of text that is copied often with slight variations in spread rapidly by internet users basically a play on the word gina and james are the information that are passed from one

generation to another through sexual population right but is passed through intellectual copulation is passed in the collective unconscious that it touches people. ells sub conscious and unconscious minds on an involuntary basis people have no protection against a beam and so therefore there are very very powerful and before the problems of social media it was impossible to create these vast global murmur ations of means that would sway public opinion one way or another and so people are acting based on the meaningless fear in ways that they don't really understand however those who seek political power use it to their advantage and those who seek commercial power are using it to their advantage and so this is the age that we live in but we're in the nature of involuntary actions driven by the defenselessness of the human mind against me means a group of people like him can decide hey we have our meanness we understand our

means this binds us together as a family these memes like pink will jack printing money money picture go broke out of its i mean we all instantly understand the big point community we understand that's why we bitcoin and however the power is that it tells the ordinary person you know it's no coincidence i believe that just days or weeks after money printer go bottom and this is in response to this latest round of money printing to deal with this so-called corona virus pandemic i say so-called because i don't believe this is what they're responding to because we know from the repo markets that they started intervening in those in october and they started money printing back then so now we have this money print to go through we have this mean out there and it's a powerful mean that's why you see the likes of paul tudor jones who is a multibillion air billionaire many billions of dollars he suddenly he knew of bitcoin for years but he suddenly understood it it descended onto him immediately

it told you everything you need to know about the can tell you in fact about corruption about our comical system that is just made up on the fly so it tells you everything you. need to know about our council and a system of consciousness is deep and i think it was freud who basically discovered scientifically the presence of the unconscious mind the subconscious mind and we have a situation here with paul tudor jones where he was aware of it in his conscious mind but it wasn't resonating deep within a subconscious or unconscious mind but the means like money printing go br'er. eventually broke through the barrier of the unconscious mind that protects folks from going completely insane but it broke through those barriers and it tickled his money management. urge to go big and so now we've got a major player in the game of bitcoin i think there's all kinds of great things

that we can see coming from this another community of course that used to mean to a very powerful effect politically of course we've covered this in the past and that is of course pepe a trump and that emerged out of 4 chan out of a guru of thoughts and ideas and heterodox thoughts very heterodox the outside or to the that anonymity of 4 chan creates a lot of grotesque ideas but a lot of genius means like that that captured the site's guys that was happening after 8 years of obama who happened to coincide with the 8 years of the birth the big queen the birth of the bailouts the birth of money printing go back to you know so it captures some sort of essence that i can't articulate here that will not ever be as powerful as that image right well 4 chan is really the heir to karl young it's like a weaponized version of the ideas expressed by color young who is

a student of freud contemporary or freud and really develop the psyche of the universe along conscious mind and by weapon i think that idea you can come up with a weaponized means of weaponized symbols. man and his symbol so you know he goes into how we have these. reaction to symbols universally that can be tapped into and so when you take the modern culture and you look into how it is originated and in many times it a lot of people are informed completely their political awareness from. cartoons such as the simpsons and from south park south park those 2 cartoons essentially form the millennial and gen disease understanding of the world around them if you look on twitter you'll see oh this reminds me of simpsons when this happened nor this is south park when that happened so pepe the frog and tromped pepe the frog this is tapping into that cartoon mind that is the modern mind that is the result

of decades of subliminal and now overt attack of the sub conscious and unconscious mind by profiteers and political hacks well actually i would also point out that in shakespeare it was always the fool that old king lear the old fool that he passes was always the foolish character of this book that you've always the cartoon character that speaks the truth and so i think it's tooth telling in some way it can be very powerful good or bad and you know the reason why we're even talking about this is because he was on joe rogan show recently and he mentioned something that went completely over joe rogan's head said that he's not so much scared of artificial intelligence and he has this neural link project he's working with that you'll have this artificial intelligence and bet it into your brain is that he's not afraid of them taking your jobs or you know that sort of side that most people focus on like and he yang to what he's worried about is artificial intelligence

using viral means that he's noticed that viral means have a power the power to instantaneously speak to people around the world it's like the internet. it is not bound by any geography just as bitcoin is not bound by any geography it is borderless and these borderless means have instantaneously altered opinion around the world just like this mean of money printer go brute you know you look at that that instantly undermined the authority of the central banks instantly to anybody who saw this and especially the animated one you instantly reject any authority that the central banks claim to have so the artificial intelligence is potentially can weaponize means in a way that would disrupt humanity this is something he started to suggest but then they never really followed up because joe rogan didn't understand we were saying so

it's the last comes on our show report and everybody out there you know go tweet them and tell them come on guys are in for to have a full conversation about this because this is max's specialty well you know the i mean it's got a good point in that the artificial intelligence at some point will be competing with humans for energy. and so the only bulwark we have against the ai triumphing over humanity would be bitcoin because bitcoin is going to hopefully suck up more energy than artificial energy well and big quien will be in our service because it all codified our existence and our humanity will be on the block chain and will survive into the next 22nd century but if not and the ai generated means destroy our collective unconscious our collective minds us humans and they take all the energy then because it'll be a 400000 but humans will have become extinct so i mean the people who try to swart

bitcoin whether it's paul krugman nouriel roubini peter schiff they're actually fighting against the survival of humanity which is so sad day really should be more pro humanity but nevertheless in terms of this money. and how this mean has altered the consciousness of the markets as we said you know it changed the mind of paul tudor jones and then you have the likes of bloomberg news or c m b c were all the financial news goes where you know they abide by the authority they believe and propagate the authority that these central banks and bankers have jamie dimon is a billionaire because he is somehow better than everybody else he's better at allocating capital he's not better at having the money printer go put it you know when you do that mean when that mean a robs that undermines that whole it's it's a joke it's the court it's a court system you know that gets the people no longer believe in the divine right

of these people and even bloomberg news this is them tweeting right here they say big quote in gold sit atop our list of assets most likely to appreciate in 2020 on the back of unparalleled central bank easing both have had significant shake outs big point is an extended period of true. within a range of all eventually break out higher in our view i believe that view erupted they don't maybe can't connect it but i believe it only came about because of that mean money printer go put it quite possibly made of young call young had that other idea of synchronicity so it's hard to determine cause and effect when things happen synchronistically in waves like a block chain every 10 minutes you've got new coins emitting and that's another genius aspect of the protocol but look to why more republic we saw the rush marco from a one to one conversion to gold to one to a trillion so the hyperinflation was quite profound and what paul tudor jones is saying is he thinks that because i mean here at those prices like gold in the

seventy's at $35.00 an ounce of course it made a move to $800.00 an ounce so he's talking about a similar move a big point the fastest horse in the race as he calls it so that would imply you can extrapolate 840-250-0000 dollars per coin price for pickling and so look if i were creating it and all start team a financier is to do battle against the worst elements of our financial underbelly the jamie diamonds of the world and my 1st pick would be paul tudor jones you can't have a bigger star and somebody who briefed basically invented the modern hedge fund and you know he is going to take us to the promised land so let's bring it back to means the final seconds here max i want to say you know this money print to go but it establishes in fact like that picasso did with guernica the the the all that was horrible about fascism is in his painting instantly people understood what the nazis were what fascism was here the same thing people

understand instantly the horror of the cantillon effect the horror of this wealth and income gap the horror that we've endured for the past 1012 years for sure but it started a few years before that as we've covered here in kaiser before and that means. brought it to your mind. we don't need words anymore you don't need to say goodbye.

the world is driven by dream. thinks. we dare to ask.

welcome back to live a kaiser report imax kaiser time now to turn to raul pal he is the founder and c.e.o. of global macro investor and rail vision group welcome to the show raul great to have you on it's great to be here so everyone is talking about paul tudor jones going along bitcoin he says bitcoin is like gold in the 1907 days do you agree with his assessment what reasons 1st drove you to bet on yeah i mean not i know poll recently well known him over the years and i know how he's thinking about old now

just because he says he's long now has many muslims more of the overall structure it was the argument your piece he talks about the global monetary inflation as opposed to inflation have ruled i think there's a bit of a confusion what's going on between pulls the sis and other people thinking i think there is a difference between the value of faith money and its purchasing power on a there's a lot of it being printed right now and that's driving down the value of. old dollars euros yannick cetera verses gold and declining. on the flip side commodity prices falling even further than currencies are so you're still saying price deflation so this is kind of wait well where you've got currency debasement price deflation we saw that was basically the 19th that's my whole reason why i sold this space of interest was back from 2012 when i started. investing in the big quince space it was really to do with understanding

how broken the financial system was but taking off he went to the european crisis and realized that there was no outcome that was going to sold the debt problems and that the central banks had one trick up their sleeve and that was printing money and if you just had to go forward and think about the next recession which we're in now we knew the outcome had to pay more. how much more well this recession happens to be the largest in all recorded history i think the u.k. just announced it was the biggest recession in 300 years so that committed the bank of england so the outsized response is going to be because we would normally expect so knowing that this was coming i knew the big queen was the cool option on the future of the system. at one point back in 2017 when i sold out took some real profits but i was worried about all the full king and stuff and i didn't read him

some what that meant and then go back. last year and. you know i'm just i'm fully on board with the whole thesis so people who might not be familiar with your work over there ach level macro investor and real vision you know you've got quite a following on social media and in the investment community because you do a lot of really deep analysis and good macro analysis and you know your kind of fundamental reason to get into because it is very well thought out and you know paul tudor jones obviously he's somebody i remember from my career in the early 1980 s. on wall street he single handedly reinvented the hedge fund in the stray when talks about now bitcoin being like gold in the 1970 s. to your point we did have stagflation then so gold did very well in that environment and of course it made a move from $35.00 an ounce approximate to 800 so if he's getting in at these levels at around 9000 then he is suggesting he's got a 30 x.

move in and because i mean that and secondly if you buy into the ferry going to some point the market capitalization a big coen would be getting close to that of gold you know gold got a market cap of about 8 trillion or so. around the 130 that you know 160000000000 what's your thought on this on these ideas are probably did the. yes stock to flow analysis of bitcoin back in 2012 or 13 where i looked at it versus the supply of gold in just with a pretty crude analysis figured out at the time of gold at 1200 a coin was probably worth a 1000000 bucks and i kind of stand by that analysis now i know the plan been to stop the flow rate shit work has kind of come up with similar things mathematically proving it to me if it is the future of the financial system it sure ain't worth

200000000000 that's the size of them but they come to that bed bath and beyond or something in the us you know it's it's just not meaningful yes but i do think that it's valuation over time if it becomes the ecosystem we believe it will be and it will stake the whole ecosystem with it as well i think then yes i think that attention number is easily achievable within that process because that takes it from being a mish to an assets so once it's a full asset class it becomes investment for others and that's another really interesting proposition. a property sorry the big point has basically everybody in the world is short. because we're all eyeing each other. we know put the people who don't participate said it all i get same joy need to do something on nots and the only open sort of that is the price the more the price goes the more it brings people into the market so the market is basically short all the way up and scrambles together so it's going to be fascinating and that's one very interesting

in this whole thing period is to see over the next 18 months how much can put so does this bring into the marketplace and i think it's going to surprise many people and start to flow model and imagine having and of course those 2 things go hand in hand and we can elaborate that on a little bit but not to spend too much time on polter johnson i happen to think it's a seminal event in the big story sad let me just follow up a little bit on that he of course is a lead alpha dog in the head scott fund space so that if he starts generating alpha in his fund 3 starts out performing his peers of proximal a 10000 hedge funds out there they'll be forced to jump on and put one to 510 percent of their portfolios and that's the way the hedge fund business works right so you've got to be competitive and if he's throwing the gotland down and saying i

think this is going to be the best performing athan of the next 10 years i think it can be better than gold if i reflation trade it's my idea of a decade i'm paul tudor jones i am a legend you know how can other hedge fund managers now go against that 2nd to comment on that and also of you know put the having in context with stock to flow in some states but in straight light that's my world right beneath that well 38 is i know most of the people 6 of the macro side i grew up together in the industry you know i was at goldman where i ran the system styles business and the route equities nickleby's or exhibits in the late ninety's i then ran the global macro sense and run from one of the lawsuits from firms in the wells and now we're right there with the best and all these heads were guys and all my clients and friends so i kind of know how the world works what's interests they is. yes the whole was late into the game but now he's got it big time i mean he has people working on less than that they change but the actual truth is most of these guys were already in

for their own capital so whether it's loose bacon of more capital or whether it is . jumbo bank or allan howard in london or so many of these famous has from on just have all sets up their own private vehicles for trading and managing their. crypto and the sea arms for this whole space so i think that space has been them post probably a little bit later than others because he's a very much a liquid as you claim is that it's no accident anything complicates it if you can avoid it while others prefer the complex world now. cole going in obviously he's good friends with sandra camilla he's good friends with a bunch of other people and at the at the moment she starts convincing others to get involved and i think most of them have been both somewhat but if they something in the hedge fund counseling and i know that is happening because you know i get

e-mails every day from you know some of the world's biggest hedge fund saying listen how do we do this they all of doing it they will fail shorts but here pool is now go to him and as you rightly say mr missing out becomes even bigger and if it does generate alpha then we'll have a choice because alpha this is a very macro well right now so it's actually relatively easy to make money for macro playoffs but in the proceeding period you know if they'd been allowed to use big coin or other crits so they'd have been able to more alpha in a low volatility environment in a hypo associate bar but look i'm in this 20 more chances i get the point that privately a lot had 5 guys been buying you know pick point but as you say once they go public in their fund that's a different story because it gets picked up by they have financial press that gets fixed picked up by the wider money management world out there that's roughly $100.00 trillion dollars that has managed money for folks including family offices and offshore accounts etc so that's

a big signal you know i think the timing on politics jones is interesting because he came in the week of this having the 3rd having in the life. and one description of what's happening now in the life of this industry is that the sell side of this of this market that those selling coins it transitions from being dominated by the miners to being dominated by the exchanges and other words when you cut the. daily coin emission in half you're going to have the last mining sales going on just mathematically that you can say that. with certainty and therefore the market price discovery will be more a trend will be transferred in will be more relevant on the exchanges the actual abit of flow of of supply and demand by and self so our my point is that paul tudor jones he's not

a miner he's not coming into this via mining he probably didn't want to put the resources into understanding what mining is all about but he probably knows now that the game is in his home field he's got the home field advantage now it's all about futures trading trading and all the tricks that hedge fund managers can employ to eke out alpha right it's in his belly like now his light out this is his world yes i agree polls are also a genius and most kids psychology and when you've got the psychology of a market that wants to hold assets and you have and the vents that can act as a catalyst whether it actually doesn't know in the price you know is short a time time period if you haven't tesla so you have the whole thing you have you had to jones going public and you have a propensity for the for the average investor to hold. you

have all of the attributes of a bubble ready to happen i don't know folks did that well last time he kind of completely understood that dynamic i'm going to think probably understands that dynamic as well is that. you know basically everybody's short on the way al and i think that's that's a fascinating thing and i'm definitely understands that a defeat understands the impact so he's news that's coming out of this town variants and stuff i want to do another segment with you if you can hang in there for a 2nd but for this segment thanks for being on the kaiser report raul pal and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guest raul pal if you want to catch us on twitter it's keiser report and by the way we do a show every sunday at the kaiser report twitter handle it said live periscope at 1 pm eastern standard time sometimes you know you never know what's going to happen until next time.

we go to work so you straight home. you have to do it. because if it doesn't if you slip away or you could be a new you could see you could only keep too close we just leave it at you because it. seems to me. that to call someone like

jealous and that's essentially one of. those who surely means the police influence is to just. change the cute little name you clinking you sit there just don't want to. listen to it asleep if you don't look for greatest are you finished and. used to give food you've got to go to lunch or you know this new book money and come down you from he was going for to do you know for a slow one but also did not place. one else child's seemed wrong when all the roles just don't hold. any new world beliefs yet to shape our disdain for the conflict as a kid and engagement equals betrayal. when some many find

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