but nevertheless for generations easy and millennial stick talk is our clubhouse and trump threatened it said you're a black and 19 year old tic toc user in california who join in the app protest if you're going to mess with us we will mess with you and this is the tick tock teens are calling them and you know trump is threatening to shut down tick tock to make it unavailable to americans and their millions of teenager is 19 year olds 20 year olds 21 year olds addicted to this and they're using text talk to coordinate political action i.e. to order tickets to his free events to make his events and rallies empty this is interesting in no it's similar to the robin hood traitor generation right they've got millions of people on robben a typically they are teenagers and lawyers and jen's a who just found a stock market for the 1st time and they're able to push around prices you know they were buying stock in bankrupt hertz and other bankrupt companies but they were

trading for a dollar or $0.50 or $0.20 apiece so much for repealing there's a unit bias the unit price bias that goes along people think that something is if it's. less than a dollar they think that's quote unquote cheap and so a teen teenager might not really have the maturity to understand why that not the case but anyway now i checked out on the political round there using the the force of the power of their ability to persuade right so to persuasion of the tick-tock users is pretty high because they have huge mass right so it's about amps right the amps work together and they can create incredible structures closer totally coordinated and so that's a talk ants in this case are have the ability to i think change election outcomes and so this will be interesting it's also the huge gap between the elite the

mainstream media who are supposed to interpret things for us remember as we covered recently because at the mouth functioning of the elite messaging system they don't know how to communicate with these people so all they do is come up with conspiracy theories is the same throughout human history for thousands of years we always come up with conspiracy theories or multiple gods as the greeks did to explain thunderstorms and earthquakes and things like that it had to be there had to be some explanation so it's going to be a mysterious one that they the elites can't control here they're going to say like it as a tick tock that the chinese government is controlling these 19 year olds to be so unruly and to you know empty out trumps events but we'll see how that unfolds but in terms of this sort of psychology and this gap in thinking and one thing that you always hear this the political front is you know if america so horrible as many americans will say because that's our right to you know to question and challenge and and challenge assumptions and if it's so horrible then why does everybody want

to move here and this is jimmy song coming up with exactly the explanation for i believe the ultimate reason people immigrate to him. america is because of the dollar their countries of origin suffer to one degree or another from inequalities caused by the dollar and the cantillon effects in the us make immigrating economically rational because can change this well we've made that point many times before in discussing the roman empire you know people want to see migrate to rome because they were victims of the roman empire so there's once you're inside the walls you know you will be insulated against the ravages of the of the empire so people want to come to america because they are being victimized by the u.s. dollar germany and jimmy song rightfully points that out so it's misconstrued in the media as people want to come here because there's great tacos and they love the

suburbs of atlanta and in particular what happened in rome is you have this massive empire the only empire to be as big is really the united states empire how did and back then however in order to finance that they needed real money not just fake money that they could print out of nothing so they needed gold they needed silver they needed real wealth they needed to tax their citizens so if you could just roam freely around the world at that time like how did what why do you agree to be a citizen why do you become a citizen of rome because only non citizens of rome could be slaves so if you were not a citizen of rome there was a chance very good chance you would become a slave and therefore you wanted to become a citizen of rome and the same thing here you're a slave a fortune of sanctions of capriciousness of the empire to decide to crunch cut your country off through no fault of your own as an individual resident of that country that you're cut off from the financial grid for example the greatest trick the

devil ever told was convincing americans that america is not an empire frank as a rock and stone consider america as an empire but once you leave america. i said to my partner no nobody wants to believe that they have any privilege that it's all their own doing so of course as we have covered the american dollar is the most exorbitant privilege of all and we're going to look at domestically though because there are some interesting headlines in terms of this exorbitant privilege and the way that the empire exists only through the dollar you know as we have trillions of dollars already printed from the fed falso from the treasury remember 3 trillion dollars borrowed this past quarter and now we enter a new quarter and it looks like we're going to have trillions of dollars more that nancy pelosi is promising for more bailouts so whether or not the dollar could possibly survive this who knows but maybe in and if everybody continues to just

believe in an all female world perhaps but with this conflict emerging between china and the us i can't see it surviving some of these data points that we're going to look at 32 percent of u.s. households missed their july housing payments yeah that's an extraordinary number of the numbers are extraordinary so 32 percent of u.s. households missed their july payment right the ripple effects in terms of the economy are enormous because of course that doesn't only hurt the homeowners renters but it hurts the landlords who are leveraged as well and then the banks who are leveraged to the landlords and it has a compound in effect you know einstein said compound interest as one of the 8th wonder of the universe or something to that effect he pointed out that it's an incredible force and he also said that if you're on the right side of the compound interest it's a miracle but if you're on the wrong side it's a devastating nightmare and so as the economy exponentially collapses the

inflation that came over the past 40 or 50 years has going to be working in reverse and it's going to be quite devis. sating and i notice that the central bank has over 30 percent of the g.d.p. is owned by the central bank and they want to compete with japan and take it up to 100 percent and so these numbers are really off the chart so my theory about this is tying back to your aunts. don't sit down and speak and coordinate and decide like ok you and a you go over there and go pick up those crumbs over there and bring it back to the queen it's just instinctual they instinctually organize and a brilliant way just like the starlings flying across the sky information it's not like they're writing it down on paper and all that sort of stuff the same thing here as we see the type going out we see the instincts of human beings our in our like lizard that we're preparing for these sort of events we see it in the

accumulation of gold in china and russia and other nations starting to stockpile the gold we saw with germany retrieving their gold repatriating a back in the us after 4050 years there's a sort of sense an instinct in our genes in our shared a common global you know organism that we are and then here in the united states with this 32 percent of u.s. households mr july housing payments is 1st of all your they can't kick you out because of the coronavirus so you can collect instead of paying your 3 and a half $1000.00 a month for rent stockpile of cash it up so we see the savings rate pile up like people are going to be ready for a reset either in the monetary system or with their own personal household wealth because they've stockpiled say you know $1214000.00 that they haven't had to pay the last $30.00 the last 3 or 4 months and then they just move right but at least

you have cash now but you don't have to pay that off so it's the same instinct you see globally geopolitically geo economically and domestically and it does also add credence to the idea. that we've been saying that the global economy stopped in 2008 and it was papered over with a lot of money printing that could last maybe 10 or 12 years i'm there we are 12 years later and it's really is now evident that the global economy km came to a complete halt in 2000 or nay and there was the attempt to create simulated animation by the formaldehyde of money injection and now that hasn't works it's leaking out because the corpse to kazan falls apart after a while no matter how much you pump into it if it doesn't hold it because the corpses of the global economy is is is fine and this is causing the instincts of survival to kick and remember during a tsunami the smart animals run away from from the shoreline and the silly humans

those who are unprepared don't see the true the psycho well look the tide receding i can pick up all these pretty shells of free p.p.m. bailouts p p p p p p p p bailouts. oh here's a tsunami well you talk about actually feeling and another final headline here and far and it shows this this inevitability of the end of the dollar and how everybody's instincts are seeing this because you know everybody keeps on saying oh there's a v. shaped recovery in the stock markets that are all time highs and everybody's booming in robin hood and all that stuff but just to remind you of the chart of truth 10 year yields still heading for sub 0 and if you go below 0 that's it for the u.s. dollar most people most investors are thinking along the lines of like an emily dickenson problem like because i could not stop for death he kindly stopped for me

you know you're east too busy like making money that you can't stop to contemplate the death of the dollar it is the chart of truth and show that the dollar is collapsing. and the stock market says the same thing and if you look at some bob way ours around or venezuela b.c. what happens when the currency collapses so the rest all are is collapsing we have evidence and. well i think the u.s. dollar is the global standard so it is all currencies that are collapsing it is the standard that is collapsing it will disappear because where adam moment of truth is that as he says is the chart of truth is recognizing the moment of truth the suit that the city has trapped their hands are reality all the while you less of a dollar means that they're going up the common just to bail ends take the money right out of your account there won't be just like a policy correction and you'll see all interest rates will change also you know it'll be a property taxes or tripling we're bailing in the banks taking your money and we

it's going to be catastrophic hey we got to take a break and when we come back much more coming your way. oh my one is in my head i'm not one. of the from. the point of us of a time about what was it was in a time that was in the sense of i'm loved as i'm alive. and. when the mood in the side of the. scene that i don't defend but i'm before pretty confident of him but i've. been advised now i'm by the i'm not move on.

you can't be both with the yeah you rock. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. very dramatic development the only posts really. i don't see how we'll be successful ready. to sit down and talk.

by social class. people poverty. if you're born into a poor family ah you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die. if you're born into generational poverty. it's a tough fight every day to meet your needs and the needs of your family. welcome back to the report imax keyser time now to go to sonny ray he is the co-founder of the unit coined full disclosure we are early investors in this

company the company was shut down by the government of india but recently in a remarkable turn of events the supreme court ordered them really open sunny ray welcome back to the kaiser report how you doing oh great now before we get into the supreme court decision tells the story of unocal in a little bit the the largest because an exchange in india last i checked how why and when did you start the company signing so december 23rd team it was when it will clean the lines we came up with the idea i think it was 3 maybe 4 months prior to that it was really just a function of us hosting the 1st set of meet ups and events in bangalore and realizing that there was no place to send people to go and buy and sell because that was the genesis of the 8 yeah and you know how we've had more than a few times where we've had to now interact with the government on several fronts and so. do the death and journey you can call it that it's

a great story because so many people so many times say oh my gosh what if the government shuts it down right so you actually have that experience so this is a great case study on a government in this case india and an exchange and in case you know a coin and tell us so tell us about the whole interaction what the government went to the government shut you down were you completely blindsided by it and what was their reason for shutting it down tell us about it at that event december 2030 where we lost you know calling we had actually invited people from the government and in fact people don't know what we'd invited the r.b.i. and people from showed up as well a week after our launch there was a notice put on the r.b.s. website saying that you says you are eating people about big risks. more namely around volatility and security and that's a notice resurfaced it's on their website a few times over the years and then 2 years ago me clear it wasn't that our

exchange was shut down or any of the 80s were shut down what had happened is that the r.b.i. to notice which stated that banks were not allowed to work with companies and the crazy companies and so for us as an exchange as a brokerage that obviously had a devastating impact on the business and over the last 2 years we've been senshi you know in the supreme court. valley from a coin in india so if you want to go to some details there but that's kind of the you know overarching theme of events if you will that's a fascinating story tell us more you're battling in the supreme courts and the court system for bet going tell us more sunny ray there's a lot i mean you have to wait for the bollywood movie for free for the full 4 hour you know in-depth but i'll just give this to my late so. that you know couple of things that i feel kind of gets overlooked in terms of when most people are talking about the india situation is is is really kind of the have much of an impact point

as a company had it within this makes as we're free to talk about it because i'm one of the co-founders but i don't even really consider myself one of the heroes in the story i think that euro's or people like such bacon are east who did a lot if you ask you know peel back the onion and look at this court case you know recently have been where the quick community essentially was victorious and then had this bank been removed in the now you know bank services are back you know the lion's share of that that the lawyer fees and all of that were handled by aucoin if you again look at the story line of what happened within the court case i received and the kind of what happened with regard to his situation. that was also a central point in determining. so you know some of the highlights you know i can go through more detail we've been to we did a quaint esque or consensus interview so i think i recently people want to check that out you know here about the 5 kind of main points that the r.b.i.

brought up and how you know our lawyers a fantastic job in kind of countering that but yeah but those are those are 2 things i know and you know and then in the real thanks goes to. guys like you and your company and stacy in for believing in an innocent investing as. not recently but i want time ago rate so that that's a huge thanks to you and guys like barry silver and draper and say adam dr draper and and most importantly i would say a big thank you troy customers rate we're checking the other day over a 1000000 downloads on the android store max can you believe that you know so those are the people that have been supporting us along the way and i wanted to you know come on your show and say that and we have that simon dixon on our there back to the future who was really really early supporter along with myself and so what right we will read that article what the 5 major points but give us the

biggest point as you recall when you look at the case the main point was at the end was we were fighting the fact that we thought that this bank then was unconstitutional right so one of the main points that everything led up to is the judges asked well how is it that this is associate of companies can claim that you know that certain thing is unconstitutional the constitution applies to people and so in next things they asked well give us an example of where a person was directly impacted and that's i don't know if you if you recall the full story. a year ago or so year and a half ago you know we have by the way i don't know we have the best techno legal. that shares our company is going to miss it he's a legend in india and we take pride in doing things the right way always make sure we're on the right side of the law yet there was some confusion around and a.t.m.

machine that we launched a year ago and so i think in her he's paid a very heavy price through a call during that time and they were wrongfully put in jail and so that case was actually brought up in this battle as like an example of where you know or somebodies business where their livelihood and where the life of maturity impacted in. see that i can go through more of the technicalities around you know because and what not but from our perspective that also played a big role well you've taken tremendous heat for the industry because how this plays out will affect the ancestry around the world and in a b s quite interesting they also rock progeny during this time have a massive day monitors a nation scheme going on can you explain exactly what the government and the how you think this might impact the economy going forward funny one kind of asian essentially took place a few years ago when one day. people in india woke up and was told we're told

that the banks know specifically you know a specific type of denomination or 2 of them were said that they were no longer valid and and what people would have to do is they would have to essentially come into the banks show their proof of income and you know that they pay taxes and everything and then they could get new notes that were then issued to them. and so yeah that was essentially you know that you wanted to see how it you know how i think. it effects he'll be calling and just the faith in money you know you look at it hunch ability is obviously something that people value in the when it comes to money and so. when a form of currency doesn't demonstrate that in your own lifetime i'm sure a lot of people begin to question things like what is money and what's the source of the and i think only when people ask questions do they kind of started or a tip on you know it could bitcoin maybe solve some of these problems and i think

that happened we saw you know a big uptick in decline interest and whatnot and you know the way i think about it i don't really think about it as like either or i mean i think currency should continue to exist they play a role great but the queen should exist as a thermometer as like a way of keeping things in check. for people who choose to opt out and have another asset class to invest in they should add that option and that's all replied i found it interesting because you know the history of paper money going back 300 years there have been hundreds of versions of paper money and not after $51.00 the british pound has lost 90 more than one percent of its purchasing power it's effectively debt but not no paper money has ever survived here in india as you point out that the amount of patience game the government suddenly one day decided all your paper money is worthless i mean all you have to swap it for any paper money and so this means that people who believe they have wealth tied up with paper money should consider the fact that they do not now in india you have

a credible tradition of gold and own and gold and women and india in particular on a lot of gall $20000.00 times is the largest store of gold in the world and somehow this would seem to be a place where people already understand gold and they have a government that's already demonstrated the fallibility of paper money isn't this going to be a tender box of bitcoin adoption once people understand that this solves all the problem of funny right 100 percent i would a pile on to that narrative. 2 a couple of the points i would mention is people also talk to digital gold 100 percent of a totally agree the 2nd point would be what the other big narrative around because when remittance people talk about how remittances going to be the next thing that big point does for us i actually believe that's true what's the biggest remittance market in the world india more money goes back to india for most out of india than any other country so i think the queen can play a role there if you think about the fact that you know. early adopters because it

helps to have a bit of technical background and you look at you know what's the biggest population in the world or 2nd maybe in the world most number of programmers and i see professionals see again india who has the most comparable unbanked people out there well india. it. was almost like it was made for india you know and so i'm really excited about the future you know we've been pretty quiet for the last few years because of this case until now i just want to thank you again max really give me this opportunity to get the word out and then reassign to come on and say thanks again like ari such big are investors and believe our customers for believing in. these ones and zeros that really this idea because as you point out in the same survey tailor made for bitcoin and when i talk to simon dixon when we put together their actual seed round you know we looked at a lot of different companies invest and you know coin came up and i just like this

is a dead simple this is going to be here now here's a here's kind of an f. kind of another look at things so they the reserve bank and then he had the r.b.i. supreme court of india a whole bunch of high priced lawyers some entrepreneurs they've all looked at it because i and they've all decided that actually if this thing has a bright future are we going to say as we've seen in other countries the indian government itself the side that you know what he who has the most bitcoin in this world is probably the best possession of the 21st century they think the indian government will take that step and start mining because i'm for it's own reserves i haven't seen any indicators that would indicate it and they are talking about doing a you know a rupee on the block change at the thing look i mean do i think it would be highly intelligent for the r.b.i. to consider taking maybe one percent will it just having one percent of their reserves in the coins i think it would be would be very intelligent absolutely as

it would be for the canadian government or the american government any other government and i don't see that happening i don't see indications of it i think it may start in other countries 1st and then maybe when the president has said others will follow but you know you're right i get it by the same think there are a. half way down the road so maybe it's time to go fall down the road sonny rice thanks so much for being on the concert report awesome thank you all right that's going to do it for this edition of the kaiser report with me max kaiser and stays here but i want to thank our guests any reiko founder of unocal a and if you like to get in touch with us on twitter it's kaiser report intellect by oh.

i know. no shots. actually felt. well it's true i know it's one. point should your thirst for a. beer segregated only by social class. people also in poverty by 1st. if you're born into a poor family if you're born into a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average to 15 years old if you're born into generational poverty. it's

a tough fight every day so you meet your needs and the needs of your family. during the vietnam war. u.s. forces also bombs neighbor unless there was a secret war. and for years the american people did not know. how much it is the mouth can rebound country per capita. human history millions of unexploded bombs still in danger lives in this small agricultural country jordyn wieber. even today kids in laos full victims of bombs dropped decades ago is the u.s. making amends for the tragedy and what help to the people need in that little land on.

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