i. was dry. as to. which your thirst for action. might. timex kaiser this is the kaiser report this is the 4th of july special that's why stacey looks so great wearing red white and blue red white and blue and the purple of course is the shoes that blends it all together we're in a purple state here called north carolina which is a blending of the democrats and the republicans you know as we're getting ready for another year a year of basically tearing each other apart again there's not we have

a lot of independents but not much cohesion you might say cohesion index is off the charts as the economists would say and i say we have our new tradition now of having lobster for independence day to celebrate america because u.s. moves to protect lobster industry threatens tariffs on china i don't know why the tariffs on china but nevertheless they're getting blamed for the fact that the pandemic has caused the collapse and consumption of lobster which all comes from maine and canada but a lot of canada apparently has some trade deal with europe and they've sold more of their lobster to europe and so we have an excess of lobster and we bought some from me and i got shipped overnight from maine so we're celebrating having some lobster down overnighted lobster from maine is delicious and you know lobster is just one part of this global commodity breakdown and they look at the commodities

commodities told different stories them stock markets and bond markets right stock markets and bond markets responded money printing in a big way and not so much in the commodity market so the oil market the gold market the agricultural markets coffee market lobster market like they actually reflect more of the supply and demand of what's really happening around the world there's more of a price discovery in those markets not perfect but it is better. then you find in the financial markets so with the lobster market being disrupted in this way kind of shows how you've got these trade wars that we're now this is a consequence of currency wars remember for about 10 to 15 years it was about a currency war because china pegs with currency to the dollar and they do so in a way to try to export their way to financial great best at the expense of america then trump started the question that and now we're into more of a trade wars and according to our friends you're also want to of course currency war leads to trade war leads to hot war and he's still on the on the periphery

a little hot war happening here and there so i guess that's where we are in the cycle yeah and of course you know it being independent say we had independence from the british monarchy from taxation without representation and now of course we've come full circle because we have the taxation without representation which is the inflation caused by the federal reserve bank so nobody really understands what it is as it's very well hidden this is not transparent we don't know how big their balance sheet as how much our money is being devalued but another now canceled founding father who was george washington who you know i think we're still allowed to say is name but nevertheless he did say that we should trade with all nations no foreign alliances or to entanglements like let's not get involved in other people's wars let's not become an empire and of course we are here now as an empire so i think you know a lot of people naturally think like you know we're number one which means the

elites are number one you get nothing because once the elite have an empire they don't need the domestic population they don't need the consent of the population because they just plunder from overseas right they take the iraqi oil fields they take the libyan oil fields they take all that stuff and they control and dominate through like the dollar reserve system and they don't need the people and you could see that instinctively. a you know it maybe we're not articulating it maybe many people aren't articulating it but what they feel is they're not needed you know just thinking there when you're talking about the fed and the inflation and how it's detectable it's like you know the people who die from gas coming from the oven or gas leak because the gas is odorless yes and so for safety purposes they add an odor to the gas so that people would wake up and say oh my gosh you know we're dying because of this gas leak you know the fed should attach an odor to the u.s. dollar so that when it arrives in your paycheck when you go to the bank you go to

the a.t.m. machine it's thing really rancid league to alert you to the fact that this is actually debt that's being pumped into the system to debase your livelihood and debase your family and to debase your quality of life and to debase your humanity it should really stink badly and you know how we domestically we have so many laws that the average american commits about 4 felonies a day if if the government feels just like the days of the monarch's you know capricious that's not enough and feels like on a whim deciding to destroy your life you see that all the time and you saw that with the fact that anybody around trump could be destroyed based on relatively minor procedural thing right so the same thing internationally we're seeing like with this lobster story it's like we have so many sanctions and so many layers of tariffs and and things you're allowed to do and who can't do that and you've crossed this thing and you know there's so many. ways to punish people whether it's in the past you punish bank parable all the french banks got billions of dollars of

fines on them because they traded with somebody we didn't like things like that but again like once the empire is over and if you look at europe i just mentioned france like if you look at france and you read the history the ordinary french peasant the bottom 99 percent lived horribly while they had a huge empire you know across the world much of africa. and they had a horrible life now they have an amazing life the french person takes like 8 weeks vacation here they take the whole summer off they they have 2nd homes they eat so well they they live well and that's because the government is afraid of the people and why are they afraid of the people because they now need the consent of the people so you know this is a government we clearly in america no longer the government doesn't feel like they need the consent of the people right the people to better if the country that they're living is not an empire yes think dickensian england of course happened during the english empire yes right so an american slums that are growing at

propitious rates because america empire because it's easy for the top 2 feet everything and leave nothing for everyone else america would be better off if it was not an empire so the collapse of the u.s. dollar will be painful for a period of time but what comes on the other side will be all think a lot more amenable to most people well if it is amenable down there is good news and the headlines over the past week because it looks like de globalization is picking up speed the volume of world trade plunged a staggering 12 point one percent in april on an annualized basis and has now fallen by 2 trillion dollars in just one month with new v. shaped rebound in sight there it is looking pretty bad right heading into a global depression which as we are saying here might be a good thing because values come back in other words during a period of global expansion once they have money bally's go out the window and

conspicuous consumption becomes the most obvious way people display their characters to each other and now in a global depression they're reading into now that will be gone and we have more a bally use and so people baking more at home knitting more crocheting doing blanket weaving this is talking about his life as well as doing the knowledge of knitting a huge american flag right now and a macro maying some. certain right so and they think it a baking like african expert at these days so but that's actually a good thing you know there are people i think more are more comfortable with the world based on human values than not conspicuous consumption so it'll be kind of painful for a while but at the other end of this will be something a lot more humane and enjoyable as humans what we're going through a puritanical hysteria america has this often is in our you know in our d.n.a. even newcomers to the country you know my family didn't come here until like 1918

in the 1920 s. so we're newcomers where despite that we're still susceptible to the american thing of having puritanical hysteria as every once in a while and hopefully you know that will pass into something better but in the meantime we're having this puritanical hysteria and or a shudder of memory but you know you came out of the salem witch trials you know my family arrived here around the 1730 years so we were experiencing a lot more of the phases of puritanical hysteria that we experience here in america from time to time like we're experiencing now we've become like this whole karen craze karen is a puritanical witch hunter right so that's just very american for this type of sudden outpouring of sex thing of the situation you know in the sense the public satan expunging you know what you call that

a exorcism right so karen is trying to exercise the ghost of you know jimmy carter or something out there in the middle of whole foods clutching the last kito cup who knows you know you bring me back to the sixty's when we had the last huge uprisings across america we have the civil civil rights movement and we have the exorcism member of the the pentagon they tried to levitate the pentagon i think it was abbie hoffman lead that. the thing and that was towards the end of that civil rights movement and the civil rights movement i don't think it was an accident that it ended once they started looking at the empire once martin luther king jr looked at empire once malcolm x. was looking at empire that it wasn't just the mastic you can't just say oh we're racist the massacre and not look at our footprint internationally and that is racist so in terms of that we need to look at the systemic thing as we've pointed out the federal reserve bank but also the u.s. dollar because to have the u.s. dollar. not only does that disadvantage to mastic lay the population the bottom 99

percent who don't get the free money printing 1st but it ness acetates the export the sending overseas of your jobs like you have to have a way for the rest of the world to get dollars in order to maintain the system so you have to give them dollars and the best way to do that is to look at the least able to you know represent with the least agency in the government in the federal reserve the least power so you know when they established the system so they they looked at the you know the rust belt used to not be a rust belt it was a flourishing wealth creation machine and that got shipped overseas because of course what that wealth creation machine did was member our wealth and income gap used to be way smaller back in the fifty's sixty's and seventy's so they they saw that just like a private equity looks at a pension fund held by a company and they think we could take that that's wealth to be taken this is the same thing they looked at that population said let's take that send it overseas

that's a way for them to maintain our empire that we can send you know build these military bases overseas that we could just secure for the elite that we can secure our wealth and our fortune right that while today there's actually a whole science by and they called the gini coefficient and efficiency tracked all over the world and america's gini coefficient if you look the stuff it was gapping wildly spectacular. looking like a terrible situation but you make an excellent point there the only way to keep the u.s. dollars world reserve currency is for american exports jobs because you need the other countries and other governments to create an aggregate demand for dollars you have a you need a trade deficit you graft absolute need a trade deficit for the dollar to be a world reserve currency and so that only benefits however the people who are in the debt packaging and debt creation business and that would only be wall street and that's why china everybody gets them wrong china does not want the world's reserve currency because they see what you have to do to the population and they're

afraid of their population still and finally you know this all ties together of the rise of a new empire who is fighting it because they don't want the wall street is our currency but white house considers a broad federal intervention to secure a 5 g. future the pentagon says whoever owns 5 g. owns the world and that's china so here the pentagon and the white house want to see because there are no american companies involved in 5 g. they don't build it they don't manufacture it and we don't innovate that so who are they turning to ericsson and nokia to european companies asking them if they will find a way to their product is like 2 or 3 times the price of huawei so they're trying to find a way to make you know it possible to introduce it to america the way those countries are socialists winds blow and post empire. well we're going to take a break and when we come back much more coming your way.

we go to work. straight home.

welcome back to the kaiser report i'm max keiser time now to turn to richard fields he's the director of the institute of financial transparency author of transparency games how bankers rake the world of finance welcome back richard thank you max and to having me back this past weekend the fed revealed some of the individual

corporate bonds they have recently started buying our 18 say united health comcast apple wal-mart to just name a few why is the fed buying the bonds of these corporate bahaman threat chart and said it is going those bonds to force investors into buying even junkier credit. what we have going on right now is there is a c.e.o. market and i think you are aware and there has ultimate junk floating around in this in the fed wants to force investors react in. the studio who are offering. this is all about pushing investors to chase you know it's like reverse drug dealing with them you know drug dealing they have they start off with the good stuff and then they add baby laxative or some other thing to stretch it out here in fad and say a wall street is i start off with the bad stuff and they want people to buy the bad

stuff because it's insolvent so many companies in america are insolvent 20 percent of about as a matter of fact of the s. and p. $500.00 are insolvent so to get them to be attractive to investors they cut the bad stuff with actual all companies that are doing ok so it you know it's there is why does the fed feel it's necessary to could wake america in this way why does the fed feel it's their position to draw money from investors and pensions into a provably demonstrably rigged game in ponzi scheme richard because all of the banks in america particularly they're too big to fail banks are all in song if you think about the spend down and the high unemployment rate we have and the fact that everybody stayed home to socially distance that meant that a tremendous number of companies have no revenue when you have no revenue you

cannot pay your debt it also meant that there were a lot of individuals who had no income during this period because they were laid off. when you have no income you also aren't going to pay your debt so if you're looking at your to fathom you're looking at banks g.p. morg see except for which are seen as big insolvent entities so what you're trying to do when you're purchasing the high grade credits like an apple credit is force investors to buy the junk that is currently sitting on the balance sheets of these insolvent densities 7 investor action it's like david copperfield running a federal reserve policy it's a look over here while i make the statue of liberty this affair it's patently dishonest and you know when american empire is now looks like it's crumbling

a lot of people on the sidelines have to get a big belly laugh out of it because they're obviously just there it's committing some kind of finance let me ask you this you know chum came into office with this magath thing make america great again. any you know he's getting away from globalism and yet the fed is buying junk bonds or bonds from toyota and vaults wagon so how does that work you've got to remember we still have to bail out some of our allies and if you look over at germany they have this very large insolvent institution joint shrank. and this is all about helping to bail out door each agree it's ok so it says quid pro quo capitalism and fraud i don't know. how to know what his pay day is for the us or he's just being you know may the law will go back to the fact that deutsche bank is the one who went to him all the money right right right there right that's right deutsche bank with a bank or africa at blackrock the biggest asset manager in the world has handed the

responsibility of buying assets for the fed they're even allowed to buy some of their own assets how's this couple right or if the ultimate conflict of interest is to buy their own assets with the exchange traded funds they create these funds that they put all these lousy bonds in and then they sell them on to the fan explain if you wanted to have house sees that were bad for investors this is what you do this way the only investors who benefit are the blackrock investors anybody who is not a black rock investor is shrewd for. me if we go back by the way the cares act that was passed to deal with we saw. in 1000 in his signing statement for the act trump said the act requires some de minimus

amounts of transparency we're not going to provide them. so what you see is little peeks into how the money is being spent and we're talking $2.00 and a half trillion dollars where the fed was also kind of put in a box for truly you know who have rich so there's 6 trillion dollars of spending going on we have no idea really how it's all been. you know i've seen images of people signing up again at teen outside jeff bezos house in washington d.c. i see a couple standing outside their mansions with the salt weapon this trying to ward off protesters in other words the people aren't full by this they're not fooled by larry fink of our black rock they're not full by donald trump they're not fooled by don't your bank tell yoder of ox wagon comcast apple or wal-mart 18 to your united health ripping them off blind disenfranchising them stealing their a commie and returning america to a slave economy where everyone is i click farms trying to make jeff zucker but rich

so i mean mark zuckerberg and rich people all think they can leave before the guillotines really come out max ok if you go look at america right now there's a book on the new york times best seller look list by stephanie calton saying that deficits don't matter deficit meth i think it's what it's called and it's this whole idea of modern monetary theory that says the u.s. is the reserve currency can effectively print this much money as who wants it this point without triggering inflation. so anything that anybody wants is a program can be formed right but if deficit style got a richer how come america can make 50 cent masks we spent the last 40 years max outsourcing our capacity to right i am as a result we crave if you go with dependency on foreign suppliers in a way that has rendered the us. impotent yet what made you how

this out there is no doubt about it now the interesting question is going to be as a result of all this do we reinvest in production in the u.s. do we bring it back i'm sure if we bring it back onshore how will it actually look will it have robots doing most of the can stay. manufacturing where we'll have individuals doing most of the manufacturing i think you're going to see a world where we're going to bring back a hell of a lot of production but it's going to be a lot of me so it's not going to create a lot of jobs and that's really going to make a lot of people upset i think reading of seth ok now you've got more than 120000000 maybe not as a parlous jobs well we'll see how that goes so let's discuss the a c l o market the collateralized loan obligation market is bigger than the

collateralized the c.d.o. market of 2008 and apparently variable interest entities are the new special purpose vehicles are s.p.v. these companies a stablished by banks to hold off the books positions what sort of melt down wife might we see here as just a continuation of ave john from 2008 rebranded remained repackaged. you know how all of the above with this term only 2008 where when and imploded it brought down all of the large banks because they were holding on to john. this time i think they've actually succeeded in packaging it so what you're going to see who are not going to be the insurance firms you can see people's pension funds going up that those are the ones who are really holding the toxic pieces on c.l.o. market the c.e.o.

market also doesn't have this much in the way. the derivative type bets going on that the c.d.o. market hand in 2008 so there's not as much leverage in the game. however as i said there's a lot of 2 os's that are going to be taken now by the week back to chip our 2nd fan jay powell came out a group private equity industry so he's trying to say to the extent that he keener . the debt markets that fund corporate buy asks so that's one of the reasons for buying all the high quality debt is it forces people to invest in the jumped at them to originated as part of. the dow and then of venezuela they market basically was halted you know that after a tremendous bull run one of the must biggest bowl runs in the world isn't

venezuela and in other countries where the currency is collapsing in venezuela i'm sorry in the zimbabwe excuse me not as well about zimbabwe they simply turn the market off and i've been saying now for a while that the private equity guys and jay powell is one of the men and the guy from bain capital romney right the private equity guys in america they use all this money from the fed to take america private they're doing a leveraged buyout on america and once it's done it could be the next 2 or 3 heirs they'll simply shut the market they'll say markets we own it all sorry have a nice day we now live in a monarchy and you should have taken aggregate team sooner have a nice day i don't think you're right in one respect if you're going to continue with the leveraged buyout of. corporate america i think that's why we continue but i think there's enough robustness in our system that we still have enough small companies coming in that they can't quite shut down the market

as it were completely that we're actually going to continue to have a market and i'm like a symbolic way i have a lot more faith in the american dollar because it's the reserve currency by default i mean we're the only ones that are really a military superpower so we can enforce our policies and our ross. other countries do that. like rome in the 2nd century a day when they stopped paying their forces of the military and the empire collapsed i think it over estimating that us dollar here but anyway richard thanks so much for being on the kaiser report always a pleasure thanks for having me all right and that is going to do it for this edition special july 4th edition hope you have a great barbecue in july 4th and all that stuff join to catch us on twitter it's kaiser report until next time by you all.

so we was as soon as you. remember if you just came up with 'd it because you care that. is a very international community. used today to try to. do this because this. is the position that they would use to get the business for their new course with. everything produced

polluted with. t.v. with. mexico they decided not to take the flight. $54.00 jets and more than $1000.00. and 300 military personnel are headed to air force base in alaska where is that to say come on i'll show you what's the reason for any type of enhanced u.s. military presence in this area russia. what is it suddenly about the south china sea that makes it so of added 11000000000 barrels of oil. you take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have nuclear weapons

capabilities there is reason for concern so that's why we're going to drill down on this story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly it's time to do news again. i think the man that we attract to the military you know we've got an army of one you know be all you can be all those themes that we've had throughout the years.