you know your boot on the neck of the populace obviously black americans are at the bottom of this but you know it's layers of this absence of being able to be brief 3 when you see this or that injustice built into the system where there's a certain select group of people who do have privilege of course we are supposed to be you know a nation founded by these truths that are self evident that all men are created equal that may be true but if some are given privilege that negates all they quality that we have at birth michael hudson feds 10 trillion dollars defense assets of the rich so the fed has revived the stock market downturn he's referring to the stock market booming it comes up and what it said is folks you can bail out the stock market give us your junk bonds that's sort of like the statue of liberty for wealthy people give us your stocks sell us your bonds will buy them all up in federal reserve expense and will purchase them and we'll also do our own forward

buying to manipulate the stock market by promising to buy our stock so the higher price in the forward market so that's going to create a speculative demand for stocks so the speculative demand for stocks by federal reserve manipulation and the actual flow of funding money into the stock market from the government has been pushing it back up giving the illusion of prosperity at least for the 10 percent that's right the statue of liberty's on the floor of the new york stock exchange i'm a buyer of the wire bubble but i will play a little bit all right michael hudson has pointed out the federal reserve bank is buying everything i would equate the stock market say with exit scam right so the 10 percent that own stocks of america are exiting america and they're taking all the valuable assets with them and to fund that purchase the fed is giving them trillions of dollars of free money best the way we see it that's the way it's working and that explains the disconnect between valuations on most of the stocks in the s. and p. 500 and the fact that unemployment is skyrocketing there's riots on the straight and. all kinds of other things are cutting away at the viability of the united

states economy doesn't matter because they've got the green light to see the richer seceding it's it's if it's not right and yet that's what's happening well actually i want to say that this has happened throughout history and i think for me the united states most mimics but it mimics often like a lot of different empires that have fallen before it i think they spent 12 so far and this is part of that he said that the strap of of a great power not wanting another to rise compared to rome rome had the same situation the people and heritage an amazing republic and flourishing powerful nation that had our amazing architecture and building and thought and stuff like that and then it turned into a tawdry empire where the elite like just plundered the nation so the next bit from michael hudson's quote is a k. now we have a trickle down to the population where there ransacking you know the shops on 5th avenue but where did the ransacking start right and let's go back one step for the

past 12 years this is something reporters talked about there is only one reason for a stock or a bond price to go up michael hudson said and that's because of the flow of funds into the stock market what had been supporting the stock market for the last 12 years was very largely stock buybacks by companies using their revenue to sort of close down their business disk invest and buy their own stocks to at least keep the prices up well what's flowing into the markets right now this is something you've talked about a lot that this stuff buybacks is hollowing out that it's plundering the balance sheet of these companies of these publicly listed their public stocks the wealth of the nation is being plundered the last dregs of some exits down credit so they're getting china's from the central bank i'm not reinvesting it in the cap ex they're not brain investing it in wiring people they're not building plants they're by.

back their own stock boost up the value their stock options and are systematically going to just bolt that we'll hear from them anymore because they're leaving a caucus what we see on the streets of new york city is but pretty much going to be the new normal the streets of new york ok let's continue with this sort of analogy looking at the symbolism of lady liberty and you know that lady liberty has that tort of course that torch used to be able to climb up to it but you haven't been able to go into that torch since july 1918 because of the black tom explosion black thomas little artificial island just off of ellis island where the statue of liberty is and it was blown up by the germans in 1916 during world war one and because there was a munitions there and in fact one of the the boats ready to ship off with missions to the allies and in europe was filled with munitions for russia that the united

states the shipping but the explosion was so huge it was at the equivalent of a 5.0 richter scale earthquake in new york and was felt as far as way as philadelphia but remember that whole world war one that was the end of the last them pyar that was the end of the british empire they were fighting off the german rising power and the world was chaos for decades during that whole period but where did this looting start how did the looting start from the very very top because we've gone from the people looting the shops to the merchants essentially looting their they looted the wealth of the nation through stock buybacks but how did it all begin and you know with this transfer of power and wealth between nations that we've always seen in the past of the previous 12 passing of the torch between empires and great powers the united states uniquely gave their power away themselves because of their. nobility because of the privileged class and there's

a fantastic articles very long but i'm going to pick out some of the segments and you should go read it yourself look this up it's on unheard dot com you and h e r d couvade has exposed america as a failed state it's hard to view the u.s. at this point as anything other than a cautionary tale you know they go over the fact that the u.s. has blown 5 trillion dollars on pointless wars in the middle east and mostly driven by you know the liberal intelligentsia like clinton's like blair is like rachel maddow like those sort of people who are saying like we're going to spread our democracy and instead has blown the wealth of the nation and the ability of a nation but now it wants the world to join in the fight against china you know you see where we're now in almost hostile war with china we're banning even flights passenger flights from china not because of covert 1000 because we don't want chinese people here but they point out that the truth is that globalization the central political dream of clinton and blair obama and cameron was never real it

was a process by which advanced western economies unilaterally surrendered their manufacturing capacity to a rival growing power china which instead of receptor creating according to the panglossian calculations of the neo liberal theorists practice the traditional and ruthless mercantile ism and pursuit of its own interests that are mixed globalism with market flows on. and up with mark until as i'm right so america as you point out they have this ideal the 3rd way the globalization the neo liberalism the washington consensus that other countries would be happy to send as an equal amount of goods and services that we're sending them because they like us because they enjoy tom cruise movies because hollywood but these countries you know what i think you're going to give us all of your manufacturing will keep that and will take everything else too so now here we are. 2030 years later and folks are beginning to

realize that to restart of manufacturing economy here in america is going to require more money than was required during world war $2.00 put wait for it the country is already 25 trillion in debt 0 0 5 oh oh oh oh but when you look at the news when you look at what is being presented as the resistance as the response to this ongoing term while but the collapse of the american system you know the mass opioid overdoses the mass death the mass anguish there's obviously death the despair there's something going on that nobody wants to look at certainly in the elite but the looting that is nonstop in this economy was intentional as they point from this a quote from michael lind in the tablet he said politicians pushing globalization like clinton may have told the public that the purpose of nafta and of china's

admission to the world trade organization was to open the closed markets of mexico and china to american products made on american soil everything from corn to chemicals to computers but you asked multinationals and their lobbyist 20 years ago knew that this was not true their goal from the beginning was to transfer the production of many products from american soil to mexican soil or chinese soil or to take advantage of foreign low wage non union labor and in some cases foreign government subsidies and other favors some people have gone this protest across america right now bolshevik rest revolution to make a reference to the workers uprising that we saw in the old the imperial russia and you've got a new imperium here in america of elites or can tell you there's an the worker something realize that wait a minute. we don't want to live under

a dictatorship we don't want to live under a monarchy let's have a good old fashioned bolshevik revolution which is what's seen willingly happening from coast to coast you know the population saying just voted in by you then by even was part of this 20 years ago he was in power he helped china ascend to the w t o they knew they are intention was to undermine the american population by aggregating wealth for themselves by sending these jobs overseas so you know that is not the answer the looting has to stop and looting at the top has to stop 1st. if you vote for a buy you a smart they are going to take a break and when we come back much more coming your way. out of the want to clear up of she will be no use to you. but the way it's always ok it was that guy who more with the late. not so much you know.

i mean it was coupled with i think who put us in the movie at the cannes put up by the smithsonian national open to get into the cooking that at the iowa. city they say yes. he didn't even fuck. you cannot be both with yeah you know what.

america was never great was founded on the rapes in the murder. nothing changed so we said nope off all response to these situations that we're dealing with. people get shot every other day she is just sad people kill each other blood for killing children. so it was just no way that people are going to just sit back and allow children to be shot down law enforcement. this country doesn't work for us it doesn't function for us. this is can't be happening in america we call from the streets we've got to deal with why this is the reason i have to ride like this is the reason.

welcome back to the kaiser report imax keyser time now to turn to caitlin long of of antti bank located in the booth and to state a wyoming kalen welcome back days max it's great to be back technically we're not back and yet we're technically entrepreneurship we are applying for a bank license that is a. big heavy lift as i'm learning exactly so let's talk a little bit about it you're applying for a license for a bank in wyoming tell us about what you're trying to do over there is a big point friendly bank what is needed the bank what problems doesn't tell us more well yeah it's interesting to have someone from this community or me a bank but i'm doing it in part because this is something we need we need a regulatory compliance bridge to go back and forth between the digital asset industry and traditional banking industry and there are

a handful of banks in the united states that service industry they're pretty well known and some are gate signature much boston in fact actually just last week j.p. morgan it came out is it's now sir big enough to do it i think it's going base and . gemini got through the j.p. morgan trust us so you may be wondering why on earth do we need more well for one thing the f.t.c. in the u.s. does not allow banks to broadcast the services for digital assets and so what that means is that all the banks that are providing cimon services that small number of banks that are providing peanut services can't also custody digital assets and you may be wondering why does that matter at the end of the day it matters a lot because you want to be able to set to settle the payment and digital assets legs of trades subtlety. this is one of the big reasons why didn't quite have taken

off it really kind of in some ways be true of the children have of this technology ironically erased. and we're starting to see now this it will come in daily volume is on something some days it's pretty close to the big client. trade and that's because the east the stable quine's actually chance that a home simultaneously against crime and other digital assets and us dollars cannot and while you're forced to segregate the banking relationships into a different legal entity then where it is all assets are held it means that you actually have to settle groups of those legs sequentially because you're dealing with 2 different entities suddenly the traits. counterparty risk there's a lot less trading bossidy lot less liquidity coming into the equation not additional assets as a result of this problem and that's what we're trying to fix well there's actually 2 parts to the story and one part is oh yeah there's a need for

a big coin friendly bank and you've just kind of articulated the case for that very well the other side of the story is that wyoming itself the state of wyoming looked out across the america and saw a little state called delaware and how much they were successful in becoming the go to place in america to incorporate for just about every company in america is incorporated either in delaware or nevada and wyoming could become the go to destination for this new way of this new technology this new you know a lot of people compare big quine to the where the internet was in the mid 19 $190.00 s. right before it became a multi-trillion dollar industry if wyoming got a piece of that business wyoming would do phenomenally well how it ends so and you say you're in the process of getting this bank through. oh did the legislature and the politicians in wyoming understand that this is probably a once in

a century opportunity for them yes they do they absolutely do and you know that's that's that's why we've done what we've done we've now had 3 legislative sessions in wyoming and there are now been 20 different laws enacted all of which are enabling the only one that's prescriptive is the bank charter and what i mean by that enabling legislation is is is what even i think most libertarians the hard core or you know an artist types probably say we don't need legislation you know natural locking can't control but most i think most folks would would agree that it's we have enabling positive legislation that says we have a right to do this that's ok as opposed to the restrictive legislation that says you can't do this and here's why we do obviously have that in the bank charter because in order to be able to plug into their payment system you have to comply

with the standard set but it's not a reset or every bank has to do that that's just a given it is what it is but i'll be happy legislation when it passes is enabling and it is deciding to track this industry here and why folks are coming ironically i think given everything that's happening in the world more folks are considering actually moving here as opposed to what most folks do with delaware which is use its was but don't actually live or do business there i think we're actually starting to see both want to move to i don't it's interesting there's a tremendous day population in the cities now people looking for a wider space and certainly i think you got a lot of empty space for sure now you mentioned j.p. morgan there for a 2nd i want to focus on that so everybody knows who's been following big coin or j.p. morgan the last 10 years they started off as bitter no coiner. so as we say they're very much against this idea because and then gradually over 10 years jamie diamond

finally you know it took him awhile to understand the learning curve you know it's not easy to understand because it took jamie dimon maybe a little longer than a lot of other people but he finally i think gets it now so now he is trying to make some money in this business but isn't that i mean so your efforts in wyoming seem to a forced the mainstream banks in new york to kind of figure out that hey we don't want to lose this business now you've got an $800.00 pound gorilla in the room and jamie dimon potentially stealing some business right so isn't the urgency doesn't this make the urgency of what you're doing in wyoming that much more urgent kaitlin yes it does and i'll say something with your here's the here's a little secret everyone looks down at the new yorkers especially look down on why when they read it you know what can what can weigh only what can that small rural agricultural state do here challenge new york well guess what we've got so much

faster than new york we have legal clarity on digital asset transactions they're legally enforceable in the state of wyoming in fact s. as we talked about and i was asked on your show what he has given the same person who bought treatment for digital for virtual currencies a very big point as money under commercial law what does that mean it doesn't mean the big question is legal tender we don't try to do you gotta realize the u.s. constitution we can. go all this legal tender in miami to do that because gold mentioned in article article one section 10 of the constitution that we get it but needless to say we did it when we basically said if you can't be legal tender then it's the same kind of what's called super negotiate melody that means that if you actually get a big claim you take it free of any adverse trade so somebody else has played to that point if a lender put in the map when for example you didn't know. about it you took a free and clear of that me and right now you may be wondering well what it means

i'm but why would i why would i share well there are people now finally starting to put liens on between because equator being i doubt and that's what wonders do they lead normal lives on collateral but history's mayor lacks a point out we're not necessarily solving attack vectors of today we're looking skating to where the puck is going to be thinking about ready to actors are going to come from and one of them could be that big crane is a $1000000.00 yes what now suddenly you know plaintiff's attorneys start coming after everybody and saying hey you've got a big point that somebody had to read against and now it's my and then trying to take it away from you those are the kind of it's actors that legally are there and we're trying to shut them down back to j.p. morgan if you get that we're tax here maggie have to try to i only have to move gently words here wyoming and so we have a huge advantage and in fact actually that's the only reason to be honest why these

new bank charters would be under consideration for getting access to the fed's minutes. and that's because we have legal clarity to digital asset transactions in wyoming there are no other states that have done it and until they do it their banks can't access our skin and because they don't have that really fundamental pressure which is are these assets legally enforceable and what happens in the event one of the banks goes down is the bankruptcy and god awful mess or is it really clear because we don't sadly have to treat these assets in a bankruptcy that stuff is critical it's it's sort of the base protocol layer of the legal system and it doesn't exist in any state government or wyoming and that's why we can get our banks you have a reasonable shot at getting getting access to the senate system so if i see jamie diamond riding a horse on park avenue i'll know what that's all about so listen i want to ask you . questioner you mention gold and you know let me set this up here i know that

really hypothecation is a big concern of yours or something we've talked about before on the show it was in the news recently when it looks like the e.t.f. that goes by the symbol g l d is now reporting some bank of england gold as their own so you know rate hypothecation meaning that the same massive loaned out many times without any oversight and apparently this is what's going on with bank of england and the e.t.f. g.l.d. do you see this becoming a problem with bitcoin well if. the market do more or adverse financialization that happens. that's why i have actually been pretty critical of some of the lenders the big quit lending companies that are out there saying you know we have talk a bit they're doing the same thing mccauley it is it has been done to gold it's funny when i you know we're talking about that from

a couple weeks ago we engage in some private messages that you know this is people been suspecting that this is true and that in the go a market but you get a little snippets of proof along the way and that was a pretty big red cross that proved that in fact actually there are multiple owners of the same collateral and you don't know how how financial lies your are your gold if you own it in paper form you don't really know if if there's real collateral backing out and the same thing absolutely can happen. and that's again why the wyoming laws are structured the way they are i believe in clear property rights in rehab hockey said just just obfuscates property rights it you can have statements are on there are financial statements all of the very same asset when it you collapse it all down there's really only one of those assets and that's that that's a problem and so. we believe in good fences make good neighbors in a way i mean we spot what was effectively

a civil war in wyoming the johnson county cattle war over can you fence up your property and defend it against 9 adverse against adversaries and the answer is yes you know and so you have the west happened and it and that was literally a battle over whether you can enforce your property rights and believes pretty strongly that you can and should enforce your property rights clear i came along thanks for being on the kaiser report. well that's going to do it for this edition of the kaiser report with me max kaiser like to thank our guests caitlin long over there in wyoming on the a bounty bank project coming soon hey if you want to catch us on twitter it's kaiser report until next time. according to several sources police in the united states killed from 2 to 4 people

every day. and. one of my being arrested for a response from enough. is just their little world establish they developed just us against them and. how long police are 2525. or have to shoot someone holding it. there is a corruption inside of the police but i think the culture is. the world is driven by shaped by one person.

thinks. we dare to ask. some people economists protest across america right now bolshevik rush revolution to kind of make a reference to the workers' uprising that we saw in the old the imperial russia. and you've got a new imperium here in america elites are canceling their schools and the workers suddenly realize that wait a minute we don't want to live under a dictatorship we don't want to live under a monarchy let's have a good old fashioned bolshevik revolution which is what's been the only thing for us because.

we go to work. straight home. you know we're number one and 2 capitals in united states we all slow number one. how many. are most. evil you selling crack rock or you got a jump shot in order to exclude. you like a lion amongst other one. of these so this is the body will look. at the rules for.

this hour's headlines stories 2 new york police officers face a judge online pleading guilty to assault charges they were filmed showing an elderly protester and most of the police brutality protests in the u.s. are expected to break in record numbers for this weekend's. marches and demonstrations also taking place across the globe in what's being described as the most intense swell of support for the black lives mother movement since its inception in $23.00. 100 police brutality has spilled over the american border to mexico with violence erupting over the death of a month held in custody reportedly a red.