you kid out the vote with yeah you're right. i am max kaiser this is the kaiser report you know we've got so much to cover so little time but wrong going to get it down we will we will with the help of the gorgeous to join us the one and only stacy yes you know here in kaiser for max keiser over here actually he has his twitter account back twitter dot com for slash max kaiser is taken of 9 months but the people over at swan dot com help the sick re security so we have max kaiser's twitter handle back and i do want to say that there have been many many people out there sending you know

pretending to be max keiser and sending d.m.'s to people if max keiser d.m.'s you it's not max kaiser said it's a and posture but there are people imitating max as well in the main stream financial press and that is c.n.n. b c looking at the data out this week about the cantillon effect essentially what we've been talking about here in report for quite a long time but a lot of data is out about the wealth and income gap and the inequality that has happened since the financial this latest financial crisis the pandemic induced crisis and they actually kind of suggest something akin to interest rate apartheid as part of that a tale of 2 recession's some americans thrive as others suffer the recession's financial pain is concentrated among certain groups like minorities lower honors and women others especially white men high earners and those with higher levels of education have been insulated the disparity even extends to those lucky enough to

still have jobs which is unique during downturns experts say oh yeah i'll get into the interest rate apartheid later in the article oh yes. well i mean so the set up is quite clear there's the big gap between the have yachts and the have nots you know is getting wider and. the it's not hard to figure out why and. creating social unrest and the central banks are at the root of it and to tell tell us more yeah so we're going to look at some of the data max and. you can see in this that every time there's a financial crisis the central bank comes for the rescue and the central bank comes to the rescue since 1071 because they can print money they can print their own currency unlike prior to $1071.00 that their currency was backed by gold or

currency at least on an international trade account unit so here we have a situation where they're printing money but it's going to certain people and you can see that in the data and when you look at the unrest out in the streets you know yes it's caused by this situation the murder of george floyd but there's something deeper and systemic that is also that the anger is due to the inflation due to the injustice of the money printing so with this latest crisis we've seen an overwhelming number of minorities and women lose their jobs compared to white educated men who are in i think of the tech bros they're working from home they have a really good right now they're getting paid you know many of them are receiving the $1200.00 stimulus check the data from the federal reserve shows that they mostly saved it because anybody with over $3000.00 in cash already in savings the federal reserve data show that they didn't spend the $1200.00 those with $500.00 or less spent spent the entirety of it so you know that in terms of this pushing on

a string where the wealth keeps on aggregating to the top no matter what the fed does no matter what the government does and what they found that is that even jay powell in testimony to congress last. he said the burden of the downturn has not fallen equally on all americans and said those least able to withstand the downturn have been affected most if not contained and reversed the downturn could further widen gaps in economic well being that the long expansion had made some progress in closing this is the same guy that the just days before his testimony said that the fed doesn't cause wealth and income caps and yet all the data released in the past week demonstrate that in fact they've caused a lot of this crisis because of the property assets and the stock exchange going higher and interest rate apartheid yeah absolutely and so look the american economy is an economy built on consumption right 60 to 70 percent of g.d.p. is consumption stop production so like germany or china where people produce stuff

they consume stuff that's the american economy consumption and that includes a consumption of credit to buy all that stuff and that means that savings is looked down on you know me like the paradox of thrift or the savings glut you know this is all about vilifying savings that nobody should have savings it's better for the economy it's just spend it all in a matter of fact go into debt well here's the funny thing about debt in this economy in america is that when a rich person pulls on debt credit pulls or credit you know they borrow money it costs them 0 or negative in the case of many people they get paid to borrow money as we saw with jamie dimon and j.p. morgan when a poor person or a disadvantaged person or typically a minority person or particularly a black person is drawing credit they're charged 2025304050 percent 60 percent oh a payday loan that's 2000 percent so that's the interest rate apartheid that is guaranteed wealth and income imbalance it's guaranteed injustice it's guaranteed to

cause all kinds of social injustice and violence in the society because you are poisoning a huge group of your pop. lation with high interest rates and forcing them to consume right at the same time so your son fully got a mandate to end up in debtors prison or puny or serfdom that's a guaranteed. guarantee that's the american dream at this point well the american dream of course is that horatio alger myth that anybody could rise up and become one of the elite and one of the wealthy and of course part of that is owning a home so here's the data from the federal reserve that everybody's talking about online which shows how the cantillon effect drives this and equality in terms of whoever had their home in 1071 because even the data here in the sam b.c.

article they don't mention 1971 what happened then but they actually trace that back to 1970 so in terms of this inequality. household wealth the median price for an existing home was $287000.00 in april up more than 7 percent from a year ago according to the national association of realtors these gains have disproportionate lead gone to the wealthy and white americans while 72 percent of white households own a house a key source of household wealth that's true for 42 percent of blacks and 47 percent of hispanic households the urban institute said this gulf between white and black americans is greater than at any other point in 5 decades according to the report what happened 5 decades ago in 1970 what happened after that so from that with the wealth the money printing has created it it doesn't create real wealth but in an asset based economy like our own

a financial eyes the con me it puts the cash the capital into the hands of a few so transfers wealth sony divorce the economy from a gold standard and you go on a pure a few money standard and you have the creation as we saw during the reagan years of the derivatives market and the separation of risk and reward you have the ability for these top bankers on wall street to separate risk from reward keep all the reward and dump all the risk into the poor neighborhoods right so that's yes that's part of what we've seen in the financial engineering sense the eighty's and as cause of sync credible wealth divide you know when i hear the phrase black lives matter you know i think what i what i would like to really understand is what i say jackson is talking about in big coin of black america is that black america will never be equal to white america they will never have justice in white america the only thing they can hope for is individual sovereignty and the only way to get there is through savings and bitcoin is the best way to get there

but let's look at this system here because it favored those who care. who have the assets in 1071 we just covered this in a recent episode here there are data showing that even to this day it continues so we could take down every single monument that exists in the united states we could you know create new holidays we could have corporate new logos saying that we support minorities black people women l.g.b. t.q. we can do all this but the fact is this system it no matter what we do no matter how we try to rescue the economy save the people the pandemic is happening trillions of dollars must be printed the way the system works basically the fed can only give it to white mostly white bankers on wall street they get it 1st prisoner 0 percent everybody else gets it you know if you think of a river that starts at the top of the himalayas as fresh clean lovely water at the

top by the time it gets down into you know somewhere in india and i'm crowded city it's polluted it's dirty it's horrible right well that's what happens to the money system here but it happens generationally too so another bit of data that came out this week in terms of the generational thing is quite remarkable and terms of comparing generation boomers to the next generation generation x. to milan eels so the millennial soulless melanie l's are 39 this year so they look at the data of how much wealth. as a percentage of overall wealth in the economy millennial zone today at 39 years old then they compare it to generation x. at when they were 39 and boomers when they were 39 boomers owned 20 per one percent of u.s. national wealth when they were $39.00 generation x. and 7 percent when they were $39.00 and millennial is when they're $39.00 today

they own 3 percent so again this is that whole the cantillon effect the interest rate apartheid all of that stuff because a lot of the interest rate apartheid comes from the fact that you know the credit rating so minorities women tend to have lower credit ratings than white educated men partly because they had the assets and the wealth in the back in the in the 1st place when we went on to this system to build up the credit and to make sure they always had cash backing whatever you know loans they were taking you know it's funny because i'm a white male boomer whose career is on wall street yes ok i am i don't want to point thing i am but ground 0 for this entire wealth and income gap and for this interest rate apartheid and i'm saying. without equivocation there's only 2 ways to restore justice one would be to raise interest rates $500.00

basis points immediately so you get short term rates back to 5 percent so that there is real savings and capital in the system for everyone who is on the wrong side of the interest rate of part time wall needs to start saving and they can do that in gold bitcoin and because it is better that's that's not no statute chairing down a statute does nothing marching in the street does nothing electing people to office that you think are going to help you does nothing none of that works i'm telling you as a white male boomer wall street careerist that i left i would laugh at that as my brother and would do it does nothing it's again like i say it jackson says exit the system you can exit the system because interest rates that's their funny money that's their fee out system and whatever they want to do with their system let them play with it and let them raise interest rates let them you know do whatever the fact is you have to exit the system because the system is inherently in jobs we

need to exit this show with take a break and when we come back much more coming your way. secret prisons are not usually what comes to mind when thinking about europe however even the most prosperous can be deceived within this 0 zone there were 2 view houses were our prison was located and only cia people had access to the story for investigators sure hell they uncovered the darkest dealings of the secret services but i mean one of. the great ignore in. p.c. maybe a sore knee yes or no for. crying for justice on oxy. i

think the biggest danger that has come out educationally to destroy us is the it has highlighted the shoot-in equality that exists and i think one of the things that educationally and each that changes access to the internet for educational purposes needs to be out in 2 lists that essentially our children writes. seemed wrong. all just all. to me. yet to say proud disdain become educated and engagement equals betrayal. when so many find themselves worlds apart when she stood up for common ground.

i don't know who welcome back to the kaiser report i'm max keiser time now to go to michael. park dot com michael welcome back breaks me with you and stacy again max michael last time we spoke the fed has been a historic printing frenzy buying a.t.f. and now individual corporate bonds your thoughts right impulses that i guess everybody should know now that the status traps along with every of the central bank on the planet we're about to get harken back to will be the great tapering of assets that was supposed to bring us back to normalcy we went through 800000000000 just for your children down to 3.7 trillion on the fence daljeet and the wheels fell off the economy i want to make this very clear to your audience that the state was back in q.e. and cut rates 3 times trying to anyone hearing about who raised

cope at $19.00 so let's get that clear so we didn't go back to normal we can go back anywhere near $800000000000.00 where it was 12 years ago as an iraqi in almost 12 years which are $800000000000.00 to $7.00 whites who trillion $1.07 trillion $200000000000.00 max and there is no way this balance sheet is ever shrinking again because there's that now oh. let's just think about prior to this crisis the kind of isolated bubbles they engender housing bubble which were that it jen here now is that bubble now the fed owns the treasury market the muni mortgage the corporate bond market the junk bond market still a market and by proxy the housing market and the stock market. they are never going to drain that balance sheet they all nice markets and the moment they step away we are going to trade faster and harder than ever before right so the federal reserve

now is roughly 30 percent of america's g.d.p. and they're on track to own 100 percent of america's t.v. pay how is that different than the feudal lords of the middle ages who wound a 100 percent of the economy and everyone living their own were basically pasts michael in acts as you were very well aware you know the pope at 19 partners outbreak exacerbated every trenchant gap there was in every problem that we had extends before the virus breakout so the middle class is being a bit straight at a rapid pace the gap between the very rich and the very poor is what wire and why are wall street is approaching all time record highs and yet we have 29000000 people collecting unemployment insurance i know the mainstream media will not tell you the real number will tell you 20000000 but you have to in endemic unemployment assistance there's nothing 1000000 people

collecting he you as a insurance it is your together he gets 109000000 people that still are unemployed in this country if you jump off the empire state building and land on a trampoline you're going to get a small pots but you're not going to get a bounce and you're right near where you jump off so that's what you're seeing right now in the economy you're seeing a significant bounce from 0 and then you can see this plateau or a reverse were rude something or e v shaped recovery that's in desperate need if i add this is a very very long protracted problem we have in this country and as i said before and i want to make this very very clear what you saying on wall street is fixed is complete fiction it's a fiction created by central banks. and has no semblance of reality to what's going on in the underneath you know underlying economy right well the best performing

stock markets in the world are venezuela bob way and surround iran that's because they're under a currency collapse so can we construe from the rally on wall street and the s. and pand that the act that in fact that america is experiencing a hyper inflationary collapse will it certainly stagflation or it collapses not hyperinflation in my opinion because you need a currency collapse against others yet turn seems to get hyperinflation but certainly we're headed for stagflation oh it boggles my mind let me ask you max on a your opinion i mean how much wonder can we have stayed in paper currencies across the globe you know we're supposed to drain the spreads balance sheet down to $800000000000.00 it's $7.00 trillion is going to be 10 surely it's on its way to maybe like you said 100 percent of g.d.p. or one teacher you dollars there is no going back i mean why do we believe that

this federal reserve ever said we're the value of the u.s. dollar these are very hard assets. how much longer secular ways i don't think it's going to last i think as you point out the structurally the situation has broken and it's a company dumpty can't put it back together again they're in a trap as you say their only recourse is to keep printing and to keep buying these stocks and bonds and they are in effect take me entire economy private with a leveraged buyout from the bankers at the federal reserve bank and their attitude toward the $150.00 or $300000000.00 americans are that they're the new presidents and they they really have no rights anymore and when i say the dollar is in a hyper inflationary collapse i do mean against the only sound money in the world today and that is core of course is bitcoin so against decline the dollar is an hyper inflationary collapse so but but to your point i mean my answer would be that

there's not there's not going to go back this is the new normal and we're back to feudalism i call it neo feudalism but you know general powell over there at the central bank the fed you know when he was asked point blank are you causing inequality and despite all the evidence that he is he would say no now i see a pathological liar be a moron see both i was there to say all the above what i write. it's the you know i was i was watching a challenge in the channels need for the individual but it's a station where i was through awful i'm ok thanks i'm sure there are regularly twice a week for many many years oh about the collapse of the housing bubble with this person since the sten is not need believe in the markets because they're not buying assets oh oh the mortgage. well i mean i you can actually stream to the television

i said but you all are the market i mean what would the 10 year treasury note be right now it's 70.7 percent what did chenier treasury don't beat on its also remember back in march it was we re percent and shot up to one percent where people started losing faith in the solid c. of united states so if you have an insolvent nation and you have a 2 perhaps you 2 percent inflation target. in that nation what would attend what should the 10 year note treasury be should be 0.7 and we could take this to japan's well i mean should or should the japanese 10 year note be 0 percent with a quarter trillion yen in debt to percent inflation you know you bring up a nice thing point about mainstream media and how they treat this crisis and whether it's sandy say or others that are in the mainstream who are seemingly

purposefully obvious skating the reality to carry the water for a corrupt austrian a crop central bank what when it really becomes obvious michael is when a situation like hurts the valley where the company is bankrupt and they plan on selling stock in a bankrupt company start going down before and the response by sandy same bloomberg wall street journal is to simply throw up their option say well isn't this novel isn't this strange instead of being like a regulator that way warn people against tainted meat or they found arsenic in the aspirin you know they're supposed to be on the consumer side to prevent the consumer fraud but they seemed their attitude be like well the consumer and hurt said if anyone buys a stock there are a moron that i paraphrased the statement and they're offering document but that's pretty much what it said these regulators are just hope holding our guts and laughing like ha these robin-hood ads one of the guys committed suicide is not the areas all of our work were. neighboring kids to kill themselves here at the earth

you say there's about 40 of us and the same basic anchors are laughing and slapping and carrying on like let's get all these kids to commit suicide it's disgusting michael pentel your thoughts maybe the pension plans are buying this stop because they can't make any money if you want to buy a a treasury bond or muni bond you're going to make your 7 percent or 8 percent random or requirement your you have your assets impairs your obligations are now 20 percent in maybe. 20 percent funding re max so maybe you as a pension older are betting that hurts a bankrupt corporation can issue stock and make you whole and this is this was right at the doorstep it's right on behalf of mr powell you know here's the thing is going to happen we have a dramatic this cliff coming in the fall ok you know we had reach $3.00 trillion dollars of. pendennis relieved then they house just passed another 3 trillion

dollars package that has yet to be approved now both mornings want it surely dollar infrastructure package i mean how much more debt are we going to ed what is assuming that that we have some time semblance of this bill sat in washington state then we're not going to have any more of these packages and then you're going to have the d.p. loans where are the 600 dollar extra. unemployment insurance runs out it's well $100.00 of every man woman and child and men who i should say. that did make over $198000.00 a year so if you're married filing jointly you got $1200.00 each $500.00 per child in your family all that ends that is spent and that's not big jump we are still getting a triple a quick bounce and then you're faced with the. and gigantic this booklet and then

another one in january when old women insurance runs out a little extended and it's an item that the said mom it's nice will be. a real hoot like zimbabwe or little house in reality have a devastated fresh listen watch this program turn off c n b s turn mainstream national media and watch the kaiser or i am telling you the this is that's why the lights are on that we were there is no war going anywhere or anything all those asses i made are all fictitious they're all based in predicated on massive monetization from the federal reserve been printed reap went 7 trillion dollars in the last year and they have to keep on printing and monetize all this debt we're going to have a deep waste or a collapse or eventually we'll have stacked legionary hyper. but one thing's for sure we're we're off the reservation and things are very forceful normal please

watch the crimes report not see it b.s. that right on bro you know let me get a comment something cowper's the biggest public pension fund in america there in california you know they are always been the joke of austrian wall street tends to park all their risky toxic risk into their cowper's and other public pension funds i know when i worked on wall street i never had a bad trade and just dump it in a public pension fund and they never know the difference they have been underperforming for hairs and now they say well to try to make up for are going to go on leverage we're going to start trading on margin. i think the pension guaranty corporation is going to have a lot of work to do in the very near future that's yeah yeah fair enough all right michael pence. pepto pork dot com thanks for being on the kaiser report thanks for having me back on and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert or i thank our guest michael port dot com if you want to catch us on twitter it's kaiser report the next time.

i have been to national memorial awards has extended its deadline for submissions. all media professionals are eligible whether you are a freelance journalist work for alternative media who are a part of a global news platform you can submit to your published works in either video format go to award go to auntie dot com and in to no. nuclear become a battleground in the us in vermont people have demanding the shutdown of a local plant for my yankee is right now my focus because it's a very dangerous oh no care power plant the owner is attempting to run the reactor beyond its operational limits this case just sort of puts

a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy is or powerline with the people this case demonstrates that struggle in the very real ways a struggle. no no crowd. no shots. actually felt. when the levels drop below the 1st one. which your thirst for action.

this is a business show you can't afford to miss branch of war in washington coming up. today. we can say. that on national hibernation is beginning to come to an end london streets will soon see more people headed out of the government has announced an ease in lockdown measures but this comes of the u.s. has seen a surge in some states and markets have rallied following shock comments on trade with china but will this rally sustain and later lose is seeing a major battle at the prospect of a bailout looms we bring you the latest from the ground in berlin with a packed show today so let's dive in. and we leave the program with the latest steps in reopening europe's.