max kaiser this is the kaiser report this is your captain speaking we're starting to answer terribly close plays fast on your side. well i think you might be talking about our stock markets these days driven by fed liquidity and well a whole bunch of people in america 100 over 100000000 got free money remember and free money what do you do you spend free money the crazy with free money it's like walking into the casino and they give you some pretty drinks and free chips and they say go at it well not a single s. and p.

500 stocks down over the last 10 weeks today was the 3rd straight day with over 6000000000 shares traded on the nasdaq all of which have been higher than any day in history to put that in perspective from 2009 until 2020 there wasn't even a one day with 5000000000 shares there's no connection between the economy and the stock market now that spot abnormal there's usually a lag between the 2 main street can collapse and then stock market can start moving up based on anticipation of main street or the economy picking up and sometimes the stock market will go down before the economy does because it has this tendency to be a quote discounting mechanism but what we're seeing here is not a discounting of prices based on some fundamental analysis of the economy what we're seeing is an utter divorce an utter split from the real economy and the financial ised funny money fed driven casino that is now taken over the globe

this is causing 2 things the overlord class are becoming fabulously wealthy and the peasants are revolting we've got a good old passive peasant revolt down america and where that go i'm not sure you know if you look at the bottom 99.9 percent as we've been pointing out over the past few weeks is they are starting to mimic the top like hollowing out the economy looting the economy and that's a way to get wealthy because it does indeed pay off. in our economy for the top one percent especially the top 0 point one percent so you know in particular what we're talking about is hertz and chesapeake energy chesapeake energy is one of these big crackers they started the natural gas fracking business the what you know they were one of the pioneers of this whole space well when news broke on sunday night monday morning that they were going to go bankrupt well you know in america when you go

bankrupt in chapter 11 we declare chapter 11 what happens is your creditors line up to see who gets the debt whoever is this has the most senior debt the bond holders the bank loans anything like that they get your money 1st your assets they liquidate everything and then if there's anything left over a which creditors make sure there's not and the lawyers get paid and everything that then maybe equity holders shareholders might get paid so they never get paid right but when the news broke that they were going to go bankrupt chesapeake. people on robinhood especially these free apps available and that's mostly for millennia old and generations a very young traders new traders and they all just got new money free money stimulus checks $1200.00 each from the government they poured into it that stopped prices up at 300 percent at one point it closed at 170 something percent 180 percent but here's what you know the smart money in the bond traders versus the

dumb trader is pouring in on these a trading outs there's a $2200000000.00 chesapeake bond that's due on january 1st 2025 currently sells for $0.05 on the dollar the stock is up 171 percent to a market cap of $650000000.00 bondholders are going to get any money before the shareholders do but they're only thinking they're going to get $0.05 on the dollar back right but those bonds don't trade on robin hood. right so that's a big difference any mention looting and i think this is a form of looting if chesapeake bay declares bankruptcy and that's chesapeake bay chesapeake energy if chesapeake energy won't want to have it as a or hurts for example they also declared bankruptcy the stock ran up hundreds of percentage points it's a form of looting that's going on and we see this looting on main street during black lives matter there's been looting and people are saying oh my gosh the looting well there's looting on wall street right now there's looting on robin hood the robert of a plowing into a dead loser dead certainty of losing 100 percent of the money or like the gold

traders we've reported on for many years now they are a fact of li a gang that's manipulating the price and that's unequivocally been proven time and time again that the gold market is a manipulated market and we've had plenty of track record and even regulators admit that it is a manipulated market maybe the robin hood people are saying let's do our own looting let's do our own manipulation we could quickly turn a lot of these gains into big one which i can also buy robin in a strange way warren buffett. poison and kind of got the anger up of the millennial after he blew out of his airline stocks a huge losses the robber to me as a buying it up and profiting and converting it into becoming so warren buffett has been funding their retirement their big coin retirement of robin hood millennial and gen z. users with his his his misinformed trade airlines well

ok on the one hand the problems that apple has have maybe been 100 percent or 200 percent for the day or 2 whether or not all of those streets evaporated instantly as obviously chesapeake collapsed the more in the overnight trading when robin hood after his aren't trading it's only sophisticated guys able to access the the over the counter market in the off you know after market hours i think they maybe one day at least for a bow you know half an hour they can go now and then warren buffett but in terms of manipulation you know we're in an additional world an algorithm driven world and algorithms don't have any mind of their own or do they or can they even be tried in court because the fact is you know back in 1902 when t.w.a. went declared bankruptcy we also saw the similar thing 1902 their stock price quadrupled in one week and the new york times wrote about this saying what's going on and they talked to lawyers who are specialized in bankruptcy and they they were

confused because they said these people won't get any money like that goes to 0 once the court case call this is on the bankruptcy so what was going on was the shops the boiler rooms that are famous now from the wolf of wall street sort of films so you actually had to have somebody engage in a telephone call call somebody up and sell them on the idea that they're going to make these quick gains because carl icahn was involved in that t.w.a. story as well they sold them on the notion that carl icahn was going to rescue the company so cut to today what you have are red. foreign wars like wall street bets and they start saying that they do this all the time member we covered this in january they were doing at an all time highs and they were driving stocks this company when hertz goes down to $200000000.00 value and it's on the stock exchange it's easy to drive it up 1020 percent which then puts the algorithm on one of these trading apps like robin hood you know that gets triggered and they see the top trending stocks of the day across all s. and p. 500 shares and they go oh that's 20 percent oh now it's up 30 percent i better dive

in and they don't care what it is they just dive in they don't know that it's about to go bankrupt they just see it moving and what does robin hood robin hood sells their customer data the customers get the service free but what how they pay for it is their data gets sold to high frequency traders which is algorithmic trading and they're front running these out robin hood the dumb money right front high frequency traders front running down money but the ironic thing about this situation is that we could see these high frequency traders they're algorithm so no human of all bought the is bankrupt shares were no you know banker actually working at citadel or any of these high frequency traders would ever dare buy a bankrupt company because they don't want to get caught is 0 but they could be left holding these bankrupt bags exactly and they'll get another bailout so if citadel which is ken griffey and ben bernanke the former fed chairman if they get

caught holding the bag at this trade and the millennia old scalpel what the they get scalped by the robin hood traders they'll just go to the fed get another bailout and that'll inject more capital into the whole fraud and start the cycle all over again so now there's an established wall street. trade you know what's called picking up dimes in front of steamrollers so you say you made something a point there that when the stock is down the way it is it's easy to move it without any volume at all so. lot of times traders will plow into a low volume situation to try to pick up a dime before a steamroller then just try to get a little gain before the steamroller of bankruptcy might catch their foot and then kill you know wipe them out but when you apply 1000000 all these robin-hood traders there that have brought been brought up on means and they don't really have any consciousness of what physical reality is they have no understanding of what a physical economy is they only know what a mean is a 1000000 of things from gaming then to buy chesapeake or hertz better declared

bankruptcy to try to eke out a game we saw in 2017 with the trading of all those weird auld coin tokens they they're all of them fundamentally represent nothing but there was a huge market that the river but developed around them and people like going base still trade these phantom coins well again i think regulators perhaps something about these stocks that are bankrupt trading up 30400 percent that wasn't no ordinary write wasn't normal but it is a reflection of the overall economy ok whether or not these high frequency traders which i think will be the funniest thing on earth if they get hold get caught being the dumb money the ultimate dumb money because of their smart algorithm thought these think that that's an asymmetric bet because they will always get bailed out they will never lose yeah ok but nevertheless it'll be funny for at least a week when we get to say how them bernanke is holding that john he bought a bankrupt thing and that will be funny and then he'll get bailed out but this is

what the fed does they keep on pouring liquidity and so it makes sense for these ordinary robbing of people to do this because here we see someone say markets can't possibly go higher but we've never seen central banks respond so much and so fast the real problem will come when investors start to ask when these bankers and their finest minister counterparts will slow down and pull back of course they won't as we said because citadel is about to be caught holding the bags of hertz and american airlines and all these other chesapeake and stuff like that but here is the liquidity m 2 money supply and it's bigger than it was bigger. asser move up than it was in 2000 during the dot com crash bigger and faster moving up than 2008 during 2100 will be financial crisis when goldman sachs got caught holding their own fraudulent c.d.o. and mortgage backed securities so you know we could be in another situation like that but we're in a new place in 2020 then we want 2008 or any time before that is that the biggest market capitalized companies in america and around the world of software companies and they took the place of exxon for example used to be the biggest cap stock

analysis software so the fed display adding a server to their ponzi scheme of fed money printing can print up another $200.00 trillion it doesn't cost them anything and they're just puffing up other software companies so now that said we're in they have virtual reality world and the millennial of the genesee figured it out and i hope they all become billionaires and put her into big claim we're going to take a break and when we come back much more coming your way.

we go to work. straight home. there was a period let's call it the unique polo you know period after the end of the cold war when the u.s. and nato countries and other people sort of wanted russia to become what they described as a normal country for they meant by normal was a country that was democratic by western standards that was capitalists that was a member of u.s. led international rules and i saw water established by the u.s. i think a lot of people saw that as sort of criminate 2nd class status in the u.s. led system and i think it's pretty clear that russia in particular has been pushing back on that.

it's hard to take some from somebody if you know hey if someone replaces. i'll be going to this interview today and all these market move in that they take me. serious. so i'm going to tell you stop selling drugs if we'll hire someone to put the money in a box. they just mean the way in life it's almost been basically a color speech for us do you guys know what secret means security positions i mean that. jack me again. you see people get all their cars and i'll see you coming in the harness seems like they'll hurry up and run into the house like they don't want to they don't want to talk to your get your mail or anything like that.

i just want to go. and do this. just try read a. chance give me. welcome back to the kaiser report imax keyser time not to go to o.b. dos to he is the c e o of clean floor in the u.k. o.b. walk i'm. great thanks for coming on coyne floors been around for a long time actually was around in the u.k. when they started the company i know the founders and that south had a great track record and bet by bitcoin standards it's almost valid very beginning

give us the back story yes 25th seed it was launched the original founders of myself. and that's what it begun but time it was only about big trucks and it remained that way for 2 years into the faithful day when. mike and. gov driessen decided to be queenie's or a benevolent dictator and that was the beginning of the big clean and big contest rules and then we had to fear e m. we know and see the response a bit quick now that it's really a fascinating that you guys very quickly sussed out during this i call block size wars and eventually the adoption of psych what that this was not consistent with the original vision of a big coin and kudos to you guys for keeping her to sticking to your guns i know when people ask us where to go to find because when we direct them to point to

a coin far if they're in the u.k. and you know this whole period from 2014 to 2017 was really an experimental period that is common gone and i think we can kind of bury that in the past now because none of those old coins are ever going to work now really a few weeks past the having what impact have you seen if any business a massive increase in interest already. we've been saying that but it was at the same time that we launched our retail offering so it's hard to tell if the launch is the uplift has come from mary tyler frank which is a retail i need big kind offering that allows you to buy regularly or if it's come from the hard right and getting back to kind of like the transition are there all experimentation or the whole look at they all call an era what lessons do you think the n.s.a. can take from that period there are multiple lessons we've tried each time we see this be free phases in the crypto journey and he's time you try to just focus on

being objective and looking at the facts and ignoring ignoring the crowds and not just follow it so 1st time is a bit quick cashless is because and the lesson there was that it wasn't miners who were in charge it was people who were in charge minus were just one of many. uses everybody's important the 2nd one was a fairy and it wasn't about short term money and confusing the customer it was about offering the customer something else actually about you when you saw one of these points and this time around we think the simple lesson is this we are still in a stage where the objectives and b. incentives of a large segment of the community especially in exchange space are not aligned with their customers they want to offer them as many options as possible so people trade as much as possible and potentially lose more we want to and we believe that the industry needs people offering them the currency that works and that's been proven

which is big quite and the mechanism of investment which which is investing regularly and anything else at this moment objects a b. doesn't make sense it does but the trends we are seeing from the feedback from users every station not just our own customers not just the general public but even people who work for exchanges contacting us from back channels to tell us frank goodness someone had the courage to make a decision. and i hope a good bit of our exchange can follow suit can you comment on the recent reveal that coin base out there in san francisco run by brian armstrong has recently opened up their kimono to authorities the various intelligence agencies and the f.b.i. your comment it's very interesting i mean they're regulated exchange and. if you approach. a greater issue for the sea to us information you have to provide has . been deciding to go out some threats of be off of this it's probably

not we don't believe this in line with the loss of your crew business and we would do but of course as a rigorous exchange me would do what's required to be done by a regular so you are a person the u.k. and the u.k. is highly i would say regulated of course but it's also highly protected industry the city of london is now on for its fortress like mentality and its kind of cozy relationship with the regulators that some would say are captured that would be an opinion of some but my question though is the environment over in the u.k. having bennett volved in crypto business as myself in london as hostile i that's the way i would describe it how are you guys finding it over there is the environment changing is the industry changing as they're being are they being more accommodating are banks starting to open up because for a while there's

a moratorium from u.k. banks absolutely now because i knocked up the ats at all there are things changing in a wood yes if you just look at who's answering the most you're trying to enter the market basically every major exchange player is offering in the u.k. much are. we outside from looking out on numbers and look even numbers of. exchanges from most exchanges you mentioned it's the ukase the probably the 2nd biggest western market after the us overseas china and asia i'm in bubble so it's a significant market and regulators understand not so the beginning of this year because. s. it's companies as they'd much prefer to. live in the regulatory remit of the f.c.a. at least for the purposes of. a male and female entering and countering terrorist

financing and that gives it again you'll see an influx of people coming into the market from the more established spaces because a so thank you has also become much easier as a result we have british on banking relationships. and in heart for what's but i imagine it's going to become easier and easier to get banks in the u.k. over the next 12 months notice now we're in a regular troops of course the u. k. banking system and the u.k. central banking system is famous in the big quite community because it was the headline from i think was the telegraph or the times of london excuse me that's built in or written into the genesis by combat coin that chance was on the verge of 2nd bailout for banks and i'm thinking about this today because i noticed that the word from the central bank bank of england now this week is that they are going to pursue q.e. to infinity infinite money printing now in the united kingdom to balance out the corrupt banking sector those are my words i would think that would be

a chair mendis philip to the interest them pick coing of being money goes through different generations and whenever a bet's a form of money and the corporates you have money of you in any good reviews in the big conspiracies view this is a story comes around inevitably it out somebody has the potential and then as he does replace. the preexisting best screw with money because 11 years ago now the best form of money was invented is still an 11 year old sister the kids in a couple of years it gets teenager but ultimately 'd that says destiny and so having that incredible story value having the potential to be a credible some abuse in this environment that we're in with all of the for want of a better would craziness stowing on. a very privileged place to be and we just want to help as many people get access to this sort of monetary. code

gravitational well which will bring everything to him as possible and get them to avoid the sort of force the fools triffitt subjective right while you match a common enough nick anomic theory or economic philosophy in there that good money pushes out bad money and that is a way of thinking which kind of goes against the current thinking the current thinking is that bad my impression is that good money and that this is a good thing because you want or that it's a phenomenon that we should that you should be aware of because in a keynesian while the ghana u.k. economist or an english economist you want a debt based world of fake money and you don't want people saving you don't want to start value you don't want individual sovereignty the paradox of thrift so called that of everyone save money there were many around to build an economy right so you just said that this good money is going to push aside the fia money english pound

worthless paper garbage what how's that going to work. it's really interesting we have a mess across sections of customers and. one from we like to do jews who have conversations with some of our customers and just educate them about. this how can. do so about dick. and in general and one thing we've noticed is that there's actually a growing number of people from a certain say let's say to a better one better phrase from the baby boomer generation. and they have a completely different view than say the millennial they they would they grew up in an environment where understand they understood the importance of say being. the saving and building towards something and basically buying things with money you had no money that you didn't have an inmate's when you were. and so the credit be

aligned with this message. and also we learn from them and it just reinforces our understanding that this view of money is the correct your money and we need to educate a new generation of people as to the correct through money and maybe a raise of us a few decades of. price a are talking about a generation divide and we say it you know it's happening and they align ells an agenda say understand that their future depends on big calling speaking of divide let's talk about racial divides and we've seen your comments on big point as a way to exit the current race a system in relation to the ongoing unrest in america i saw a black lives matter protest in london recently around the joy george floyd murder can you elaborate on your thoughts there. yes so. it's really interesting i mean

obviously you might not notice but i have a sort of person no link to this situation and it's something i've observed throughout my career whether it's most of it is subconscious or unknown but some we know we all know the reports or the the studies where you take a free hero to a 4 year old child and in a classroom show them to see paintings of a black and most of them with us who the bad guy is most of them says the but even the black people would say it's a black guy so it's something at the very early stages ingrained into us so this is a big problem to so and the challenges of the system that we have right now has destruction again so big quinn has a potential to provide an alternative to get playing a game of monopoly and some is going to all of the hotels and you start a new game and they start with all the hotels it's not very fun to play but me now

have an opportunity to exit that game and play a new game from beginning i mean couldn't you currency that has no basis in any other pistorius rule system it's not like any other store of value that we have available to us like real estate or stocks and shares and so on it plays by its own rules and the loss of the game is a computer program it has no emotions but it's completely objective impulsion unfair and that's all you can ask for is the completely merits a critic environment and that's the game that if you're playing with the passion and energy that i'm sure every person brings a burn definite people from the black community can then that would do very well have a time. as awesome as oh thanks so much of calling florence thanks for being on the kaiser report. thank you very much guys well that's going to do it for this edition of the kaiser report was made max kaiser and stacy herbert want to guests thank our

guest o.b. was do a coin flora if you'd like to get in touch with us on twitter it's kaiser report in so much time. so what we've got to do is identify the threats that we have it's crazy you confront a shouldn't let it be an arms race in this spearing dramatic to follow can only really i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. has changed american lives but pharmaceutical companies have a miraculous solution. based drugs to people who are chronic pain and believe that their prescription is working for them in the remedy be certain to. price at the.

close of the dependency and addiction to opiates the long term use that really isn't scientifically justified and i'll study actually suggest that. the long term effects might not just be the absence of benefit but actually that because we want to. draw another it was hard.