i know there. isn't this is a kaiser report why you bargain. well here are the bullet points for those of you at home keeping score. cities are on fire. 40000000 unemployed in america. g.d.p. of the climbed by 50 percent in the 2nd quarter. the velocity of money is dead small businesses are dead. and j.p.l.

said chairman says this is fine because it's fine this is food that's fine. thank you again. well this is fine you know the only solution they seem to have over and over is more money printing and the fed is at that again nonstop since 2008 really as paul says fed policies will absolutely not lead to more income inequality this is what he claims last week while cities across america were on fire and notice that he said income inequality you know money printing does it causes asset prices to increase and tech capital gains to increase he didn't mention that he didn't mention the wealth gap so i did want to turn to a chart from pew and it shows the share of us aggregate wealth since 1983 to

2016 this is what the fed has been doing this is the upper income went from having 60 percent of all wealth in america back in 1903 to 179 percent and it's probably much higher even now middle income has been the huge collapse as you see down from 32 percent to 17 percent so they're nearly cut in half well this is the latest chapter in the global insert action against banker occupation you know we saw it with occupy wall street there was a concerted effort to talk about how wall street and the federal reserve bank are creating wealth and income disparities and distorting the economy and bankrupting the nation that we had an uprising in cairo we have an uprising in athens that we covered in the 5 uprisings all over the world as part of the global insurrection against banker occupation and now it's in the united states and the u.s. dollar i guess is. going to have to be sacrificed if there's going to bandy hope

here the thing is they are printing for everybody for the entire world and there are only at the moment fiat's currencies so if you disregard gold and you disregard big queen the like most people in the world don't notice that of course the dollar is the strongest of them all of all the fiasco urgencies because everybody it is the reserve currency so here's jay powell. you know printing money for everything here's his story right here fed bought $3000000000.00 in e.t.f. and may junk bond holdings here include hertz j.c. penney neiman marcus and whiting petroleum because of course they do l o l nothing matters. so you know they basically bought the bag off huge private equity and hedge funds that otherwise

would have perhaps closed the gap in the wealth gap between those wealthiest of americans and the poorest but they're both the bags off the likes of you know carl icahn and warren buffett these sort of people the billionaires right i mean the stand out on that list would be hurts so hurts was heading into bankruptcy for a year now and just before they did declare bankruptcy the central bank buys a bunch of her stock and you know to give some backup to carl icahn the private investor a private equity guys this reminds me of the e.c.b. funding for the louie of a tall entrepreneur made a huge purchase recently and that was all funded by the european central bank a private company so the private banks they're buying junk corporations and they're actually buying an e.t.f. with the ticker symbol j and k. which stands for junk. that means that we've kind of crossed over to it and

to know you know there's no turning back now because the said balance sheet of approximately 7 trillion dollars and it's adding maybe a trillion dollars every 7 to 10 days the resale value of everything on the books there is 0 i mean you can obviously resell hurt stock because it just went bankrupt a few days ago so that's clearly worth 0 everything on the junk e.t.f. 0 black rock that sells the e.t.f. is charged with buying an e.t.f. for the fed so the fed and the government is tall black rock by e.t.f. those things that you sell for us with the government with the printed money that we're printing ok that's obviously corruption at the highest level and it's horrible economics. that bonk they might convert to equity which apparently the fed's not supposed to own in the but that they did not buy the actual shares and hurts but they have these junk bonds which there's confusion out there whether or

not it converts the equity now they own equity which they say are not supposed to but the people are always so smart are right let's look at that with the people on the other and of all of this free money printing you know what they really think. of all this money printing people are mistaking stimulus payments for junk or scam now no they're not mistaken yet it is junk it is scam it is junk this is this is a scam. let that be a lesson to you money printing eventually comes to an end and the only thing that you hear is the jammed money printer and then you're wondering where's my food where's my government where where am i and you know i'm sorry but i have to ask what was that last point you made that the people of the united states of america are receiving these debit card oh yeah right so i got it i

got it i got it i was so taken by by this flotilla of cast. yeah the people the government is sending the united states citizens debit cards with loaded with cash and they just assume a chunk of the throwing of the garbage and what is john you know is this should be sort of the garbage just no difference between a plastic e.t.f. card or you know an a.t.m. card loaded loaded with money from the government and those trash bags full of venezuelan bowl of ours you see on you tube now people are just carting away trash bags full of venezuela a bowl of ours all figure out money for 300 years has gone has lost 90 percent or more of its value it's gault garbage garbage. those are all they are going to get in that are. blue. ice is all fine so let's look at the headlines about this alleged no wealth and

income gap being created by a cantillon sort of effect that is happening in the united states this nonstop since 2000 really when we off shored all of our creative capital all our industrial capital to china since we allowed derivatives trading to happen in the explosion on that and we ended glass steagall let's look at some of the data here that shows otherwise to what jay powell asserted this is what happens when predominantly workers with low salaries lose their jobs average salaries go up so here's a year on year change of the average hourly earnings of employers so going back years and years and years hourly wages have just soared why well because this is our only wages so this is not the transfers from the government yet in this data

what this show is is that all the low income workers got laid off now you have just all of the white collar workers all of the people in new york city in san francisco in los angeles some places like that still have their job they're able to work remotely from home. oh yeah this is remarkable that the hourly wages suddenly skyrocketed because of the money giveaways from the feds and it shows that up until that moment the average worker hourly wages were below subsistence right people are working below subsistence wage levels they have to they're living in their car and they're working but under minimum wage and they work 2 or 3 jobs and so attash injection from the government suddenly spikes that hourly wage it proves that they're living in america on a subsistence wage which is just one notch above slave wages right the slave wages then they're subsistence wages and that's where america's 200000000 americans are

subsistence wages and we're going to get to that data right now because incomes for all americans beyond the hour of those who are still working and now and getting paid by their jobs their incomes have gone up as i showed in the last chart they've gone up by about 5 percent because they got rid of they fired all the other workers but all those people who fired are now represented in this chart these are the people that are at home they're not working they're collecting unemployment benefits but are now called enhanced unemployment benefits so they're making $600.00 extra dollars a week that shows up and this data us incomes for all americans rose by 10.5 percent in april on the heels of enhanced unemployment benefits the expectation was for a 5.9 percent decline so how do we ever get out of this situation where jay powell is printing his money he's giving it away the government is borrowing money and 3

trillion this quarter alone that's caused wages to go up this is end of empire kind of stuff this is bread and circuses and it's really really hard to end bread and circuses once you start right while the primary component and money in the u.s. dollar is cotton. so america is going to get back to cotton picking. right. that's it cotton picking is going to be number one employer to save that money printer in washington money printer go burger there's jay powell he's in the big house looking out over the cotton pickers pick me some more cotton so i can prince morphia americans like ok will do. well the fed is if you are looking for a job and your unemployment your enhanced unemployment benefits are not good enough for you here the fed is still hiring apparently so these are the sectors in the economy in the united states still hiring only a few of the hundreds of track categories added jobs last month so this is for

april warehouse clubs and super centers so if you're working at amazon or wal-mart there are plenty of jobs available central bank number 2 adding jobs so it takes a lot of effort to parent we print that i guess i could be employed i could start working part time. or work troughton or talk about their problem go to it or pick a bottle of. booze do it and finally americans are doing something surprising with their money right now gretchen howard c.e.o. of robin to describe the spike in deposits of $1200.24 reflecting the amount and stimulus many individuals and couples received during the week of april 13th so people are again bread and circuses they love joining the speculative bubble and they also along with fed the fed buying all these junk bonds they were buying

warren buffet's bags they were buying stanley druckenmiller bags they were buying carl icahn bad he don't hurt guess who is buying it was robin hood apps people with the free free money from the fed the fed knew you're going to give it to carl icahn and warren buffett and duck and miller to exit right well turns out the said it is the dumb money. it's our money. all right we'll take a break they will make them but much more coming your way. in a. long

same wrong all. just don't call. me old baby get to shape out this thing comes to educating and in again training equals betrayal. when so many find themselves worlds apart when chance to look for common ground.

welcome back to the kaiser report i'm nice keyser time now to go to tyler linda no me is the representative for wyoming house district 01 for those outside of america wyoming is not only the most bitcoins friendly state in america it's also the 10th largest state in the union and the least populated as born for social distancing are i thought i welcome the kaiser report yet thanks for having me really appreciate the opportunity now many people here wyoming and think not only yellowstone national park ranching farming with a cover 19 pandemic we saw livestock destroyed while supermarket shelves were empty

what caused this and what legislation did wyoming introduced to address this tiler i think the 1st thing that we should make very clear though is the coronavirus did not cause co-ops sell the meat supply chain meat supply chain was always pretty horrible it was a centralized mass. kind of propping up or big monopolies and that's where everybody gets their meat whether it's from the back of a beef track or from a grocery store or whatever it's all going through these or out and so the coronavirus was essentially just the straw that broke the camel's back wyoming didn't we inadvertently it was just really good timing on our part i've been working on this issue or oh right around 6 years and what i did is i drafted a piece of legislation that took advantage of the federal means section of the federal means action access that all meat sold in the united states retail has to go through a u.s.d.a.

packing facility and so in the state of wyoming ways we what we did is we rationalized cattle we said that you can you can sell shares on a on an animal or you can sew shares on an entire herd of animals and that way that share grants you access. those animals without going through all of the red tape and regulations an inspection processes all of those that add quite a bit of cost and also put more money on the actors so i am ing is really taking out some great initiatives and put some great legislation in place and particularly in the big clean space you have been a huge proponent of a coin have helped pave the way for wyoming to become the krypto friendly state in america why. well it's all about that centralized nation i mean nobody likes centralized ation right centralized government centralized money centralized made supply chain and so i became a big fan of to quieten black and technology back in oh i cursed learned about it back in 2000 welcome ron paul or arms and i really studied down on it and so when

we when i got going in the legislature i realized there were some issues in the state of wyoming as far as our laws were constructed we were actually one of the worst in the nation for bitcoin our money trends that are transmitters license was blocking any exchange for betting on wyoming customers were able to fix that and then we just kept it up a gear and now we've asked right around 20 does the legislation to handle everything from security loss to banking law to a lot of those different aspects that have stood in the way from essentially this currency going industrialise and being able to really be utilized by individuals even even not yet not not so much mainstream individuals but more of you are you know average folks that may not necessarily even know what bitcoin is this is an opportunity for them because it's much more mainstream now in the state of wyoming right iow making you know that a message of individual sovereignty seems to fit in with the 8000 of wyoming and

that wyoming state motto is equal rights now it was the 1st state to give women the right to vote out of necessity wyoming needed the votes to gain statehood and you know this is part of the interesting dynamic in the united states between the states and the cetera. government so these 2 are competing with each other on some level and could the same thing happen for bitcoin in other words you look at the american states and you said you know there's a state out there called delaware and it gets a lot of business by being the number one state that companies incorporate and why don't we do that be the delaware for big oil why can't wyoming be the destination for bitcoin and now this is exactly what you've done my question is could the same thing happen for bitcoin where other states see your success in this hyper and deflationary necessity as the federal government paper money collapses the states and by the way in the constitution i believe it says this only the states

can create money the states take it upon themselves to preserve america tyler what do you think yeah absolutely that's not going to home run and that's exactly what we're chasing down it's all about economic development it's our it's all about making sure there's a safe spot a lab for these companies and also an area that they can flourish and so as states realize that their currency is being devalued and the purchasing power is going in the toilet i think there's going to be a lot of a lot of state governments and a lot of it maybe even smaller governments that start turning towards different types of assets to protect their well and just like individuals have done and so wyoming is definitely leading the way and they're in that caused by but it's important to remember that we are nowhere close to even being. we're still all steam ahead we're looking at some really interesting stuff right now in regards to the banking secrecy act as are now your customer and i money laundering laws and so

i think we're going to have some for next year that really shit. on that note the wyoming legislature has just formed a select committee on block chain and financial technology are you a member or what are the plans for wyoming in terms of fin tac and bitcoin yeah i definite. i am a member as you know we have the task force before and we were a little different then like other states have asked or says we were different in regards we actually do thing and actually accomplish things so we were very successful we moved on to being a fly committee so we could sponsor on legislation we could do even more and who could be on it and it i myself i'm a member were chaired the chairman a back to many our chairman chaired olson out of cheyenne wyoming and chairman chris rock us out of one army wyoming both great individuals and of course we've got a long on that on that cable along certainly has been. firestarter and this area of getting declined to the masses the using the and existing

infrastructure because he has that incredible background on wall street and the banking sector and he's a very high level executive and she kind of defected over to the pic when space and i know wyoming is now right to become the destination for bitcoin based startups are you seeing that already are becoming base startups moving to wyoming when we 1st started this whole journey and started our little task force we had people showing up to our meetings without shoes on and just kind of some wild ass now that the folks that we got showing up are very much suit and tie and kind of oh jeez on the space we've got car i always k. is now a now wyoming business we take a lot of testimony like consensus and crack and those types of folks and so yeah they're common they're here already i always cage just drop half a $1000000.00 on the university of wyoming to help with their walk in labs so it's

it's happening and if you're not wyoming yet you're going to miss the boat sticking with cavemen long gone head start of the bank can you give us the details on that what's the status where is that how's that going to be honest with the i kind of once once a legislate. then place like i will take a step back and let them work out their business and how things are going to move forward last night i thought today when most she said things are moving well and that they were they were getting close you know there's probably there's probably a total of 8 and it is right now they're looking at starting up their their own banks and the state of wyoming in regards in regards to its real assets and all of those guys are moving almost in my hand i've got you know i i think i think a couple are probably going to finished or at the top but it's fun to watch because we didn't spend as a state any money on attracting these businesses we took a very unconventional route out others its economic diversification we just legal

precedents we were smart we sat down and we studied the laws and we figured out how we can actually move the laws in such a manner that still provides consumer protection but at the same time is inviting to business and so far so good it's been successful and i want to return to kind of the. state versus federal government tension or the existence of this because it's a checks and balances built into the american system of governance that eveline many many checks and balances the various the. you know houses of government and also between the state governors of states and the president united states and so when you're talking big going to people in wyoming right they're not from silicon valley they're not financier's wyoming as we said at the top a show is mostly about agriculture and ranching and you know correct me if i'm wrong here i might be stereotyping what's going on there but that's my perception but isn't isn't the urgency in the pitch isn't about south sovereigns say and it

isn't about hard money and the fact that the federal government you know needs to be kept in and check tyler that's right it's all about the 10th amendment it's all about state sovereignty it's all about. you know keeping arse our citizens in our state and a safe place regardless of what congress does because let's be very real about this congress is incompetent what they're what they're currently doing right now it is a hot hot mass it any kind of reaction that they're doing it whether it's in regards to krone virus or the meat packing the elk all of it's a hot mess they can fix the meat acting with legislation that just the regulates and let states that set their own course and it costs nothing for them to do that but instead they're going to do this whole pump and dump scheme into ranchers across the west turn every rancher on it and the west and go see it and to see our armors and it's just an absolute wreck so we're talking about state versus federal

. we really stretched our legs in regards to cryptocurrency but we also stretch our legs in regards to gold and silver also and those are wyoming gold and silver is considered legal tender are the co-sponsor of the legislation and and so you constantly see why i'm a doing the saying and it's because we want to separate ourselves from some of the horrible mistakes that are being made by the federal government we don't really want to be associated with quite a bit wait wait wait one minute their gold is legal tender in wyoming holy mackerel i was on the fence now i'm headed to wyoming how hard is it to master riding a horse. you know i need to be honest with you it's one of those things that when we're when we're talking about the self sovereignty type type of concepts the state of wyoming we do those things for breakfast right i mean it's it's normal day of course for us but and other states are such wild concepts and it's it's going to i

don't know if it's wild for me to hear about the regulatory scheme that other states but it was somehow controlled or there are set a sense and the state of wyoming we just want to leave it all alone so if you're not here like i said max if you're not here going to mess. oh i don't know so you very graciously avoided the question of how long it would take me to learn how to ride a horse i guess because it doesn't seem like it's even possible thanks so much tyler i am filled with confidence now all right no only joking thanks for being on the show it sounds fascinating we'll check in with you again send thanks for being on kaiser report if you alright 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 guests tyler lynn tome he's over in the wyoming house of representatives join again touch with us on twitter it's guys report and the next time is by you all.

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in the depths. of the shallow. sea of its revenue model registers dogs registers litters so it's involved in a transactional relationship with those breeders and obviously the ones producing the most dogs are the largest scale breeders so why is it going to crack down on those large scale breeders and sacrifice the.