no i mean all this. max kaiser this is the kaiser report love on lockdown and i don't know what the heck's going on but lockdown is great you know for every dollar i spend hours on i get like 20 back. to my amazon stock goes up it's great this is a magic money tree times 100 times 20 times 20000 wow it's fantastic so yes well certainly since the time before we went into

a lockdown and this time now since we have a total change of mindset something has happened radically that changed up the entire psychology of the world in terms of money in terms of the economy in terms of the politics in geopolitics so 1st mention the geopolitics of the domestic politics of america i will go into that into the next episode of report right now i just want to point out that over the july 4th 4th weekend we saw these protests in washington d.c. and we saw these protesters stomping on a u.s. flag and then burning it and one thing they said was america was never great now this is our response to of course donald trump saying make america great again and how did hillary clinton respond to that she insisted that america is already great so here we see this radical shift in the mindset of these young people who are knowledgeable for at least 3 of them that america was never great hey young people

great well you know it's up to them to make it in their own image and the money els and jen say i'm a boomer you know i already had the plum 40 or 50 year experience in the united states post world war 2 post lunar landing you know booming stock markets never had a work day in my lai. because of that and you know so it's up to them to decide what's great make it great and good luck with that great for me but the other thing that i think has happened and you could see it also reflected in monetary and financial reality is that during the course of you know the end of world war 2 and being the only industrial power and growing strong and then having then going bankrupt essentially 1900 $71.00 coming off the gold standard and the psychology of the world in 1971 was like we had no alternative america is the empire and.

there was a kind of a pause at like a road runner sort of pause and everybody where it wasn't certain that we could do a global trade with just their system and yet they want everybody went forward but when i was growing up i mean you could it was weird this notion that we did genocide the natives here we did have slavery and we dragged people out of their homes in africa and pulled them here and forced them to work for free and yet like all of that paper prints and all that wealth creation could cover that up that could make everybody in the world but also domestically see us in some sort of light that actually was never there or that it was always the meth it was never real so i think we're seeing a shattering of illusions the money printing all of this the wealth creation isn't real anymore and so for the youngest people all they see is that none of the boomers not of gen x. and none of those older than boomers and x.

are wearing any shorts because the tide has gone out and what they're seeing is a gross collection of karen's. well a couple of points there number one when you say they are road runner pause i believe you are referring to wile e. coyote yes in fact paused and mostly because of before a phone. down into the canyon he was chasing the road runner yes the dynamic in that drama. strong. and my 2nd point is america like any country is a big bureaucratic institution and is not terribly interesting and not terribly doesn't have greatness at all it's just like one big post office but individuals are a great there have been great americans and there been great europeans so there

have been great. individuals throughout history and in america because it is just basically very neutral that's not great or bad really is just a collection of freedoms that are codified in the constitution and then you know throws it over to the population and says will any of you rise up and be great and this current generation we have like a neon mosque for example the start of south africa any migrated to united states and he's made america great because he's been afraid to do things that in europe you would not be able to do or in any war anywhere else in the world you would not be able to do so one evil and is worth 100000 protesters in the street burning the american flag if that's what it takes to give us a name on then that's the equation that's america it's just the way it is folks nevertheless this sort of notion of america was never great has never been seen in my life probably not your life and probably not joe biden's life he's the oldest of

the candidates running for president for example so that's a mindset change it's a revolutionary mindset change and we don't know if it ends up being better for that or worse for it only time will tell but in terms of something i brought up in a previous episode and i would like to expound on this theory is that you know that 971. moment when we went all out that was the 1st time in 5000 years that we had a global fee system based on the u.s. dollar which could be printed up and only the us government or treasury or fed knew actually how many dollars were out there the same sort of thing has happened during this pandemic with this fact that a multiple number of facts that nobody is working everybody staying at home yet they're making more than ever with all this money being borrowed from who knows who right because who has $3.00 chilean dollars to give to the american government and

a quarter to give to people to stay home and do nothing and stock markets keep on going higher despite all the metrics that would suggest that the market should crash like earnings and industrial production actually making things and selling bangs well that's all gone by all the historic stuff that we've seen for the past 10200 years that's all gone this might be the craziest thing i've seen in my stock market career the stock and the economy so the red line of course this is the inverted continued jobless claims and the nasdaq 100 index is the blue line and you see usually when unemployment goes up well the stock market falls but here we see a historic collapse you know in employment so increase in unemployment and yet the naz that continues to march higher so this is a fundamental snap i mean you know we've covered this with the negative interest rates the negative price of time and the negative oil prices that also happened 2 months ago so there's something that has changed or something that snapped and it's

it'll it's historic i believe being unemployed and having a huge unemployed population doesn't mean you're not great i would give you as an example all great britain right during the satcher or unemployment crash when they transition from coal mine. 2 spades in the city gave us of course. great music they gave us punk rock johnny rod gave us. the sex pistols and that was great said it made the country great as a whole. the music of that era so here in america with the unemployment as it is i would hope that the americans have a rich tradition and music perhaps could generate some great quotes or some great art as a stock market zooming higher well you know the best performing stock markets in the world are some bob way of venezuela iran because their currency is collapsing

so the connection to the stock market must be made to the u.s. dollar not the employment number of that those that the connection is to the fact the u.s. dollar is collapsing against the stock market it's already collapsed against bitcoin it's moving down against gold right so all those key metrics of how is the u.s. dollar performing are showing that the u.s. dollar is getting quite weak there has been a masking of retail inflation for a number of years and has been obvious for people shopping for groceries and things that prices are going up but now in the last year though if you look at twitter and type in is there inflation you'll see people are saying oh my gosh you know i went to the grocery store and prices are up 20 percent how did that happen so that that collapse the dollar now is inching its way into reality yeah of course lake the dark ages everybody knows is the dark ages it was post roman empire things were

pretty bad in europe we had half the population wiped out in a black plague and yet from that horrible dark time came the renaissance so it still considered to this day nobody has replicated the greatness of the arts of that time so they were still backward they were still like superstitious people . there were things that there were counter revolutions to that revolution all the time and this is one thing that you could always understand looking back from you know 500 years in the future it's easy to tell right now nobody knows why. there this is a revolution or a counter revolution or what's going on is this the dark ages there is that a in the light and age right and that entire renaissance played on one individual who single handedly spawned modernity and that would be of course leonardo da vinci and 500 years later we're still living in the shadow of leonardo dimension right

away and the connection between leonardo and the. family between capital and idea that has been replicated in places like silicon valley where you have steve jobs is like a renaissance thinker meets venture capitalists right so you know it's the it's all they say it's all was darkest before the dawn well our inventors of this day and age 500 years after dementia are people like blith masters who can create it creates and invents a credit default swap and lo and behold here is j.p. morgan's assessment of the situation that we find ourselves in today she invented this credit default swap for j.p. morgan j.p. morgan concludes the world is drowning in too much debt for stocks to go down again partly because of credits of fault swaps this is the beginning of the explosion of global that it's now will be adding 16 trillion dollars in global debt household government and private sector so 35 percent of g.d.p.

increasing global indebtedness is even bigger than the 20 percent of g.d.p. increase seen in the years after the lehman crisis so they're saying there's too much debt for them fatter at central banks to ever raise interest rates again as chis report told you years ago you can't taper ponzi and now they're saying because of that that stocks can get never go down because there's too much debt but it was a people origin is like pope sixtus during the leonardo da vinci's time and they suffered hugely as dementia came up with called new planetary schism or schema in terms of sun in the earth and in. vented all kinds of things when the church was on the back foot and pope sixtus was like wait a minute you know and then it became wait a minute i'm the eve all i'm the evil and the artist is god so i got reversed so the catholic church became the evil and. the renaissance became god you say it was a plot and now we could be flip flopping and j.p.

morgan is like the catholic church of the middle ages trying to engage in papal indulgences where you commit fraud and we'll give you free printed money. that's not right jamie diamond. all right well we're going to take a break and when we come back much more coming your way. time after time corporations repeat the same mantra sustainability it's very important. transitions to sustainable transport sustainability stay number may not be more equitable and sustainable well. they claim their production is completely harmless. lovely. companies want us to feel good about buying their products while the damage is

being done far away and this is something i'll just keep going down even and i'm a little lucky. since i'm in the news limited window nieminen einstein seemed to me the best understood so going in. the world is driven by a dream shaped by. the day or thinks. we dare to ask.

welcome back to the kaiser report imax keyser time now to turn to jimmy sun he is a bit coin educator developer entrepreneur welcome back jamie i want to jump right into it on the 4th of july independence day here in america you wrote quote a declaration of monetary independence can elaborate on the thesis here about rigged markets how big coin fix is said to me yeah i think back in 1776 our forefathers knew that they were the system was rigged against a lot of taxation without any representation people here in great britain really care about and they were being treated unfairly and it's my thesis was that this is happening today that it's not some overheats in great britain it's essentially the people back control the federal reserve and they are not just doing it on america if you fall all over the world as a result and the right end because it is uniquely positioned for this technology

allows for individual sovereign say it can't be confiscated it separate state from money can you speak on this a little bit there's a lot of. ways in which you can describe money but the main problem with money if you have money today is that a few people control it think about the queen that's very unique is that you need the agreement of everybody that holds it that runs all note in order to change the monetary policy a good point which of course means that it changed and this is this reflects back on some of the moral issues with the money today and i quoted. the 14th century who said that's really if france or the government expands the monetary system on. i for their own ends that it isn't into unjust thing and that's

exactly what i'm pointing out about all of these monetary expansion programs that are happening all over the world as a result of this and so you know big point that's not ideal in the sense that it's impossible for a few people to control and we saw that with. 2 x. no one you know and they failed and there were some very powerful corporations can't do it knowing ok so what is because monetary policy think well the monetary policy of their quaint is a hard tap at 21000000 with a known inflation schedule 'd that has every 4 years so this is you know there's a 21000000 decline by will ever be and rate of inflation slows down you know to basically 02140 so it ends up being a very good monetary policy for saving money or storing your value for shipping

your value 'd and that's that's the point of it works well of course in the genesis block of the protocol they have the phrase that the a chance throws on the brink of a 2nd bailout for banks in the u.k. and so there's a direct reference to central banking and of course fee out money which is the province of central banking is the opposite of because it's an unlimited creation and none more or not more so than today where you've seen just trillions printed almost on a weekly basis federal reserve chairman jerome powell. he did however insist that the money printing does not cause inequality and yet to me when i seems to me that the case that it does cause inequality is quite obvious what is what are your thoughts yeah absolutely it causes. massive inequality because it's not about who provides value to civilization and economy

and all that it's all about how close you are it's money we talked about last time i was on the show about why the cities of new york and london they are very rich in art because a lot of painting happens to them it's not about necessarily what you know goods and services you're providing civilization it's all about your money this is known as. dr richards and so on irish french economists from the 17th century and the century so i mean it's very obvious to anyone and and you know that certain people i specially are companies like goldman sachs that are getting enormously rich off of doing almost nothing that actually benefits the economy and or at least it's not obvious to anybody what it is that they do for the economy yet although all those bankers make hundreds of millions of dollars billions of dollars and that that's that it's

a little hard to swallow when somebody like. tells us that it's not exacerbating well and already when it when it actually feels right you mentioned because monetary policy they're the having the they fix the absolute scarcely at the $21000000.00 coin level and as in a contrast to what you have in the united states which is this idea where debt is really the best way to run the economy and saving which is inherent an inherent property of bitcoin is something that in the united states and in other countries is vilified you know we hear about things like the paradox of thrift and where you hear about why keynesian ican economics that the economics of debt is the best and. but my and my question though. oh is. how did this religion of debt in america and everyone is in debt there's

unbelievable amounts of debt and it's excepted as the best way to have an economy how do you overcome that that that orthodoxy in the united states where the way to run an economy is to plunges deep into debt as possible because it's not that that's exactly what they tell us that's exactly what mainstream media is pushing and of course because it would be the complete opposite of that but how do you deal with the fact that we have we live in a culture here that worships debt to me yeah and we really do worship that and everyone is leveraged up to their eyeballs and consumers businesses governments out of everybody around the world is leverage up to their eyeballs and it's not a very good situation to be and because it makes absolutely everybody fragile i think the way you get out of back that cycle is to actually get rock and there are

lots and lots of companies are getting wrecked right now it's you know. there's a lot of retail stores that are declaring and they're declaring bankruptcy because they were a leveraged way too much and it can't pay off their debts and it's and this is how people on fortunately have to learn is that if you if you lever are up way too much past way you know surviving certain kinds of trends like we have right now then you're not going to survive very long and you know it's sort of like a darwinian evolution of companies that once once that leverage too much they tend to go away except for banks for some reason they're known as too big to fail or something like that. and you know as those go away the better ones come along back are based on state and better are you know sort of system. we growing instead of leveraging i wish that were the case let me

talk about hertz for a 2nd it was basically sold out the private equity and basically controlled by carl icahn a financier a corporate raider guy who did a lot of leveraged buyouts debt based buyouts in the 1980 s. and yeah they declare chapter 11 but carl icahn lives to breathe another day and to his credit rating is unaffected he can still borrow as much as he possibly wants to take over any company he wants and so this what we end up with in the united states are the zombie companies where there's more than 20 percent of all the companies listed in the u.s. now have the interest on their debt is greater than the income they're bringing in from the front door and that number is growing every day the so i mean it would be great if these companies actually got wrecked but that the system rewards people like carl icahn who never get wrecked because they never stop lending him money and

0 percent interest rate and he never stops buying out companies firing everyone destroying their pensions and wreaking havoc all over the country right so there is no getting wrecked in a certain class in america how do we change that i think as as we move more towards a big point stand there people will this trust a lot of us dollars because like he said most of the dollars that are out there are you know for the leveraged. people. when you're when you're doing stuff like you know yet. they're either going to have to pay him because in which case it's going to get so hyper. were or they're not going to be able to buy things because they have dollars whereas things are so i mean this might be a good way for a corporation to i'm so sick or paraders like i'm in. having a bare spot price them to court something like. that much more expensive you're

accelerating. the big points standard and therefore it becomes harder and harder to . take it over and so for peace is ruining lots of people's lives and becoming so part of a formula to create a poison pill as it's called would be to implement some kind of big coin accounting within the company to make it impossible for an rater to take it over that's an interesting idea and i want to come back you mentioned segment 2 x. 1st 2nd there was a few years ago an attempt by a few big corporations and big players to sexually take over pick one and they were rejected and the reason i bring it up is because we had this question often people say what if it's taken over you know the government can take it over we've already had a few attempts to take it over and they fell ok and you are a developer you're an educator and in a minute or so can you just walk us through a little bit on the technical side how that just doesn't really work what the sec

with 2 x. proponents actually wanted to do was to create what's called the heart for a backwards incompatible upgrade and when you do that with software that means that everyone has to upgrade or else the entire system doesn't work and they need to try to strong arm everybody and upgrading and that basically didn't work because everyone has to agree and there was a significant minority actually it was a majority of the major that that refused to operate and as a result you know even a small group that's able to resist whatever you know strong arm tactics that i have is enough to have a point survive and not have the seiko so unlike up public corporation which where you. we need like one percent a sock in order over big points very different in the sense that you need to be

inspired. you know you need the consent of everybody that's running and all know it or to change it in the way that you want it and they're not going to do it against their own interests unlike governments so in that way i start with you x. . and i suspect. that in the feature well and part of the clearing independence monetary independence is running a full nerd can find out more about that if you follow jimmy sign on twitter and all of his various other social media outlets to me thanks for being on the kaiser report thanks for having me right on and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guests if you want to reach us on twitter sky's report until next time by al.

joining me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then. you cannot be both with the yeah you want. my. money. so we were sisters in terms he says she's going to be named chris.

him of those he just came up with if you care that of. antarctica is a very international community. meeting yesterday if you could play. with this if it is this. you believe. there is a push them as they were used in the business for their nuclear cooperation the entire thing is everything because he was polluted with the forms of t.v. with the above the. head that would affect all day but i decided not to take his place. would make it to you that.

hello from rhode island where i live as we await the all clear to get back to the r.t. america broadcast center in washington and so many of us are working remotely these days that telecommuting and video conferencing have become 2nd nature how will technology reshape the new normal dave grave line joins us in just a few minutes but 1st we're hearing so much about supply chain disruption lately and this is not just a pickle for manufacturers it's hitting home at the kitchen table.