who's to blame patients doctors manufacturers the government. according to even fox news trump is lagging in the polls is this because joe biden is such a brilliant vanity or because the heartbeat consensus but tend to make has been badly shot and by the president still another the trump ran as a populist in 2006 feet as the government is going to. take shape russophobia russia's foreign ministry bill all along the way to u.k. parliamentary reports on claim russian election into the parents document calls for stronger action by lungs and to council moskos alleged influence. as donald trump stands troops on the streets of the city of portland of course on

the rest of the claims his move to legalize it was integrated with local authorities. first across the line russia says it has a covert bank seemed good to good but questions already coming from the west about how i have made such great progress. there is all you had lines for this hour stay with us now for the kaiser reports next on our 3. i am actually geyser this is the kaiser of pork. blowing bubbles over would. you know a bomb bubble you know a lot more about this plus some poetry from what i understand let's take it away stacy well we're going to look at the end of an empire of debt we have had a global. pile of debt says 1971 and it is blowing up in the says what

we have been preparing me for for the past 10 years we believe it's here and yet you know i'm going to read some poems i'm going to think of some poems that america right now because we are the u.s. dollar. we are so we are the empire and you know robert frost said the woods is lovely dark and deep but i have promises to keep in many miles to go before i sleep and of course emily dickinson said something along the lines of because i could not stop for death you know i was just too busy i had all these things to do lunch appointments all that sort of stuff he kindly stopped for me the same thing as like we're very busy i guess bit busier busier we have all sorts of cultural issues and partisan war and all this sort of stuff going on but if you look calmly around you you see that death has stopped kindly for the us empire and all its debt it's easier to pretend our economic system works and just blow endless asset bubbles

yesterday saw the us comprehensively beat china not in any sporting sense and certainly not in any dimension of the current cold war for those who still like to think the latter isn't happening just listen to what u.s. attorney general bar said yesterday he attacked china for quote economic blitzkrieg and aggressive orchestrated whole of government indeed whole of society campaigning to seize the commanding heights of the global. conny interest to pass the united states as the world's preeminent superpower well those are our strong words right blitzkrieg course brings in the whole world war 2 imagery and remember reagan and the axis of evil you know 3 countries that resulted in the collapse of the soviet union right there was a seismic political event globally and could this be a portentous of some kind of equally seismic global people you know it sounds like a feels like it to me of emily dickinson were writing today she'd probably write

something like because. i really noticed all the death around me because i was too busy eating a triple from a macro condo. kindly stop for me this article by rob a bank big bank in europe goes on to point out that like the answer is right there in front of america but they won't they won't see it they refuse to see it because they're stuck in this old dead way of thinking about the economy and us as a us empire and our dollar as a coercive sort of forced a trade with us send us your free good for send us your goods that took you all this time to make and we'll send you these dollars the other thing about poetry is that there are some basic rules to it right that has to be so certainly a haiku it's a very regimented form of poetry that you very strict syllable count but all poetry has to have certain inherent rules and there are people that violate those rules

like e-com and for some reason has come up a lot lately but in the world the finest are no rules just do it everyone and print more money so that it's not poetic in any sense it's not beautiful in any sense it's just put money printing certainly since reagan which followed right after the fiat's system is we know for certain our rule is that we just cannot rise that is the. death of what our system is which is run by finance it's a financial life system so if we just rise the system will be destroyed we are told and therefore part of sending all these jobs so here. barr is saying that this is an economic blitzkrieg that we our own companies apple amazon wal-mart all of our corporations send all our jobs overseas and some suddenly we're waking up and like hey why do you have all our manufacturing over there was my factory doing in your country you know it's not like some weird pantomime but what rob

a bank is pointing out is that right now america is beating china in one thing which is consumption consumption is almost at back to where it was pre demick and how is that happening why did that happen because we don't. so what is driving this latest round of the u.s. consumer americal the $600.00 a week and special virus related unemployment benefits in many instances this is worth more than people's pre crisis salary and they go on to say we seem to think we live in an economic puzzle that like it's like really complex we're trying to put it together but the answer like rob a bank is saying well everybody is making more money. hold on hold on one minute you're saying a wages are going up yes there's a term called earned income which we refer to earnings as a result of work but the cash is being injected as

a subsidy for consumers it's an earned income that subsidized income that they are in turn using to consume they're being paid to consider. and. of course there's never been meaningful production in america for decades and now they finally figured out that the only way to get g.d.p. is to pay people to consume by printing more money they're saying that the united states will not recognize that due to their ideology which is that we just cannot rise and they they do believe that they are they most people they say and the elites do not seem to understand that all our manufacturing us in china all our wealth creation is overseas we don't actually create wealth but they've forgotten that they don't know that they don't believe that they believe that there is somehow a divine right to the empire to have these wealth and goods and services sent to us and that we're not just money printer so they're saying that you know the the

$600.00 allegedly will end in 2 weeks but it probably won't the probably have to extend it but they are whole system has been based to this point and perhaps it's going to change. but to this point they believe that we just cannot go up that workers if these people were to leave the house from lock down and go back to a job that certainly cannot pay them that much well i can explain exactly what that means because in order to justify all the money printing the fed has to claim that they're fighting deflation if wages go up that would be inflation and therefore they'd have to stop printing money which means i'd have to stop bailing out banks and solvent banks to zombie banks. so by claiming that they're fighting deflation it gives them cover to keep this continuous rolling bailout of the zombie banks if they were truly interested in encouraging inflation they would in

fact allow wages to go up and then we'd have inflation in america and then we'd have a healthy economy but that would do devastating impact on the zombie banks because they would not be able to hide the fact that they're insolvent so that's not going to happen well as i say that the u.s. retail data shows that if you want to strong domestic led up turn all you need to do is put more money in the pockets of poor people and they will spend most of it a.s.a.p. we've said that over and over of course that makes sense because that's why we've see the money velocity collapse because you know the aristocrats in this country do believe like if you give 600 dollars a week to this person you have to give me $60000.00 a week like that's just right but their money doesn't circulate so that's why we will never have inflation because they don't have an there's not enough stuff in the world to spend it on and so that system is over as rebel bank is looking out from you know i think it's in the netherlands right looking over to the americas

you know they see us and they see it's it's quite obvious that you know where we are pretending our economic system works but it doesn't we're in a state of denial and of course the number one ingredient to any life system any ecosystem any economy is energy and here is more data on that because while that average worker former worker prepared demick who is now making more 75 percent of americans make more money at home with this special enhanced unemployment benefits. the energy companies that made us the number one energy producer in the world as we said you know we did want you we did tell everybody this but the great american shale oil and gas massacre. her bankruptcy is the fault the debt worthless shares collapsed prices of oil and gas the great american oil bust started in mid 2014 when the oil prices of crude oil benchmarked of e.t.i. began its long decline from over $100.00 a barrel to briefly minus $37.00

a barrel in 2028 so they've never made money they didn't make money at $100.00 something dollars a barrel and they don't make it at negative 37 you know that makes clear they say that decline started at a certain date the decline started the 2nd that. popped into somebody said that you could be profitable hydraulically fracking gas from the cost of the earth that's in america that has never ever been profitable for any company they were they were allowed to exist because it was a great way to sell junk bonds a wall street depression funds at above interest rates then you would find in the treasury bond but that did mean that the underlying company made any money and tragedy devastation so many of these companies that are going into bankruptcy are simply walking away from the environmental disasters just leaving that for the taxpayer to pay for someday if they ever get around to it as doubly tragic so i

mean it happens because of a few different circumstances as we have mentioned you know the us empire and we are an empire but hopefully will be post empire because i think it'll be better for the ordinary citizen post empire because they need the consent of the ruled to rule you so right now they don't because they just print money and get whatever they want but here you know they do print a lot so the printing in order to avoid causing inflation you have to create a lot of fraudulent or unpayable debt or bad debt so that it could blow up and kind of put out the fire that is the money printing so it was a good use of of kind of like a controlled burn of forests like in this case the controlled burn of our by. cash so you want you don't want it to cause inflation especially wages you don't want us to rise but here they control they blew up a lot of debt in fact they point out that it's 260 $2000000000.00 as evaporated

since $24.00 team so that blew up the debt it gave it allowed some pension funds to survive another month or quarter or year because of the yield that was paid on the debt which was pretty high and it was a jobs program it was a good jobs program for a lot of mostly men kind of like in the 95 to 125000 dollar year range which is pretty high here in america right right good point that the fracking industry did just become a toxic debt goal to evaporate all that free money they were printing and cycle it to throw us to make sure that it didn't end up being in higher wages for the economy in aggregate they needed to destroy it and there was destroyed in this bogus facade called fracking and it was also kind of like it was like one of these weapons programs they know the pentagon will i don't know how many trillions spent on the f. $35.00 program for example it's kind of a jobs program but it also like it's like star wars under reagan it's like we're

going to build us blossom as a system here is the same thing geopolitically it of course does allow you to say where the number one energy producer at certain points we're at number one energy producer like it didn't matter how much it's costing us the fact is numbers wise it was we were number one briefly. cosmetics for optics it was great for a couple of months to claim to be number one even though it meant a further destruction of the economy and a slippery slide into oblivion speaking of oblivion we bit of a chasm here a break but when we come back for her coming your way.

so it seems wrong. why don't we just don't call. me. yet to see how he's going to come to answer. and in judgment because the trail. went on to find themselves worlds apart we choose to look for common ground. welcome back to the kaiser report has a time now to go to rand nooner he is the host of stan bases crypto trader great to finally have you on the show and i think to see you again as always writing out

razor or doing this year last week you posted what i thought was a remarkable video from inside a we work in pride man that location there was totally deserted this is a big story of course you're in new york you're an eyewitness you're journalist so i said let's get around on a talk about this tell us more like you know i'm a very positive person generally and i always try and see the costs and i've been trying to do that as much as i can in new york and when i look at the stock markets the stock markets tell me that everything's going to be ok but when i go for a walk in new york city outside my apartment and i live in soda and i look on steroids. 80 percent i didn't businesses on my streets closed down they let me go just because of the of coatbridge they closed down wrist runts ott stores jones boutiques they all closed down and i was going mad working from

home with the kids around so i came to get office yet and we were because i wanted to you know leave the kids at home for a little bit as much as i love my kids and i took an office of the we work in and had some streets in soho which is actually a very lasting business serious used and i'm the only person working in a freak show we were and that to me sounds bigger longboats you know it's great having a perspective because i was just thinking about to talk bill who was french and he came to america any he wrote about the american character and it was right insightful because he was from outside the us year of course our came to the us from south africa and you're in new york city this is your 1st summer in new york city and you're so you're seeing really from the perspective of fresh eyes you because you know you're not a native new yorker so tell us more what you what your impressions so far of new york you know you have that access to the hamptons of course from the there she

she's a crowd as i was out there and is that still ongoing or is that been interrupted and again you know as i am asking you to put your kind of your journalist had on tell give us an idea what's what's it like in new york because when i'm i'm reading headlines and i see the hotels are closing and erap cern festing the strait and there's a murder rate is skyrocketing and i'm thinking you know this sounds like we're back the 1970 s. but please can it kind of give us an idea of what's going on oh my cell reality is just to great to this is my 2nd son yoko was here last summer and saw quite a great comparison between last summer and december and of course there has been this whole expose this through the hemp. and then to florida you know new york has a 'd ways out of their homes and they spend a lot of time in there how did i miss what baffles me is that people are talking about a recession in fact they're talking about possibly the worst recession of our lifetime and even though people are talking about a recession then new york is as not compromise on

a summer holiday plans and they're all in the mountains all going to florida and having they see months off during the summer and you know to me that's kind of strange thing going on the one hand we're talking about recessions and everything else on the other hand well you know let them eat cake and be an absence in terms of the situation on the ground here in new york. i'm not sure it's as bad as the media says it but it certainly isn't the same new york city that i came to a year ago it has become much more seedy there's a lot more homelessness you can see that the bottom of the pyramid already suffering and it's starting to get that san francisco homeless feel that's going on . another thing is it seems like there's a lot more lawlessness and i'm not sure that's in response to this defund the police movement that's going on here and the police now saying well you know we're defunded and therefore the city must now live with the implication you know i moved

to new york city in the seventy's and it was the height of the murder rate and the broncos burning and punk rock was raging on the lower east side that was a huge homeless population drug use was rampant homeless people camping out in various parks and then i'd say you know as i'm early last year there is a cry from those who were new york veterans saying you know that has become like this day and the lower west side has become google and facebook and tech it was like san francisco the tech scene silicon valley thing and now within one year it's become san francisco haight ashbury the homeless thing and one here and i want to just kind of shift gears for a 2nd so you're a world traveler i meet you all over the world at different events and things and you have to a great job covering a things and you have seen different cultures and you cover from the business perspective and i'm curious about how different countries have responded to the

covert 19 virus in different ways it seems like an asian they had a different approach and they had a different outcome so just putting aside kind of any you know the story of the virus itself but just as it hit the ground any different countries have you noticed a difference the way it plays out in different countries and in the united states. are they prepared in a way are they reacting to it in a way that makes business sense to you ram look how would you like to be in the shoes of any of the president's all regulate the government because i don't think there's any easy way to deal with what's going on in the president the time i mean you know people criticize for he. his reaction to the buyers them in fact they criticize many presidents but you know as a president what do you do you're balancing human life on the one side with you know keeping the economy going and i just thought it had been very interesting for me because as you know as you know i'm israeli graph in south africa and not living

in new york stuff but a very clear perspective on those 3 approaches and also the asian approach to me is . the american approach is being very nannied it's like they are treating people as if you know every decision has to be made for the people you will meet him off you will do this is this kind of executive order will take care of all your goals. and i look at the africa which is the extreme and granted for africa doesn't have the resources that the u.s. has but they kind of left people to work it out for themselves and there's no this kind of somewhere in between that god has the human lost but also your credit worked out for you so. the u.s. has taken the extreme approach you know with all the stimulus it's a trip and it's it's starting to worry me a little bit because i'm not sure that this economy's going to get kicking again

very quickly whereas if you look at asia the agent economies are hungry and are starting to work properly again and that may be because maybe asia psyche less of a nanny stimulus approach in the u.s. that so your investment fund you know you manage money and invest in fund manager when you look at the pandemic in the post pandemic it economic and debt reality you know what patio approach that right as a money manager because plainly i've got a look at that macro and everything else to kind of fade and bare faced as a money manager where are you on that how do you fit that in or maybe encrypt as a man what is it ram anything so i mean i guess that must he says not for anyone managing money is the 1st thing you've got to do is manage the value of your mind and make sure that even before you make business investment so vain chain basements you're actually just protecting the base level of your mind and was the world was the u.s. printing as much money as they printing and with so much stimulus going on i guess

the job base currency probably has to change to either a gold or a but so that's the 1st step the 1st step is whereas in the past currency has been the us dollar and we've made us all a base instance of projects we've not taken a shift to say that our base currency should be something that's a little bit more protected and is a combination of commodities and good point of course and then we look once we've done that we then take a more beefy topic rajan's i think given the pandemic and given what the new world is going to look like what do we want to be invested and what it's done is that it's sped up which generated our thesis to invest in companies. building true infrastructure. projects so no more stink or lies project but much more focused on the d. centralized part of crypto and of course the big idea and that is of course so i

say the big daddy of course as coing as so. it's a mess though we've been through 10 years of a lot of different experiments patients. according to some of these projects a quote more decentralized and that is an oxymoron really because if you have to say that you're trying to be more decentralized you are stating that in fact there are science allies that seems to be a bit of an issue and but the 2nd point made a comment on is that i've got a huge wave on distributed finance $35.00 and crept out it's kind of a new thing how would you how would you comment on the 1st comment that i can't really say are going to be decentralized in a distant by stating cell into what your comment i define decentralize is a function of the nature if you think it's the take over where the mine is take away the years and not take away the community is and i think we can all say quite safely that recording is achieved that decentralization money by design but also by just by the users and the contribute to the core network i think if you look if

there's any i guess that may have come in you because it's a syrian but there him is lagging miles and miles and miles beyond but. i'm going to survive the 5 i just think that we're in the very early stage of experimentation and i think that before defy can become mainstream there's going to be a lot more hacks security breaches broken algorithms and stuff like that and so generally when we see these hacking defile these films in the 5 people think it's a bad thing they think oh you know if i tried to could act and explain what's going on. i'm not sure that that's such a good thing because i think that that is part of the progress of the economy and i think if anything we're realizing now the importance of having things defend. the way that governments have handled the spend and make that governments have one

playbook governments are using the 2008 playbook in a completely different scenario and when you look at the markets it seems to be working very well in fact you know the nasdaq's at all time highs dollars almost an all time time so it seems to be working very well when you look at the markets but when you look at what's going on in the streets and the economies you can't kid yourself that everything is going to be ok really strong which make up a huge percentage of the u.s. business working at 50 percent capacity there is no way that a restaurant can make money at 50 percent capacity and probably not even an 80 percent capacity. health headlines bobbers 6 all stores retail stores that will weaken it 50 percent capacity if that so there's a big disconnect and if we look at the big korean white paper and we look at how big quinn was designed it's almost like to tell he knew this was going to happen i don't think that he knew that a virus would be what caused this but this is the exact scenario that bitcoin was

made for ray and i could agree it's a more thanks so much for being on a cause or a part thanks max writing and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guest ran nooner you can find him on twitter sure going to catch us on twitter at sky's report and i stand by all.

syria has been engulfed in civil war for almost 10 years it cost hundreds of thousands of lives and displaced millions more no one foresaw the peaceful protests of 20 of them is collating into a complex conflict between various armies geopolitical interests rebel groups and jihadists. are they on the on the dock on this. but if you tell us if you say in the hague because. of. massive look cool. deep can lick.

the bottom of the a day i was. in order known as south that i. never statham is the mother and then the shame that i leave them with the hate and they shout that here. if. this is boom bust. one business show you care it's affordable for in washington coming up. an agreement has been reached that will make it easier for many people to get through the crisis and an upswing will happen faster now than otherwise would have been the case the european union has struck.