max keiser there says that as a reporter got on gold in money again ready. to do that jay powell do that jay powell old whoa whoa whoa whoa whoa whoa whoa whoa whoa whoa whoa move would get rid of this is not virtual this is real they have virtual jackson hole they announce their profoundly consequential zirp for ever essentially we're going to have a 0 percent interest rates for 0 for 5 years that was on the advice of plucky plucking once again professionally consequential to the world monetary

system so those are forever as we have predicted here for years on report remember we said you can't taper a ponzi and it turns out you cannot taper a ponzi they're admitting that of course a lot of people love it because what happens that the market's boom right and mark i got my money again i got my money gone my name is jay jay jay i got my money gone i got my money gone all i do is pretty oh good day because i like to see the stock you want because i own the stock myself and i'd like to retire a billionaire i worked a hedge fund like all the other extra presidents do and make more billions because i like my money because a lot of money. more to come on the work in progress. well i found an analogy for what is happening here is that an analogy or metaphor anyway i found in the chicago tribune it's called vomit fraud and it could

make your trip really expensive so you know you get into your burger at grand central and take it down to freedom tower and you think way 2527 bucks that's pretty good the next day you tune in to your account and you find that you can charge $150.00 and there's a photo of vomit that you allegedly left in the backseat well this is apparently right at the moment where the drivers are claiming that somebody vomited in their car. and that you're being charged $150.00 so this is what i'm saying is when you look at our financial system that's in fact what you're getting with the fed reserve and q.e. policy is they're charging you with the vomit fraud of the bankers that they're the ones that issue debt that is unpayable and then dump it on to you and they're sending you a photo of their balance sheet essentially saying look you did this you're the one that did this and you're like hey i was just like going out for some groceries and

now it's 20 percent more expensive because of what because of this fed vomit fraud right there's plenty of vomit fraud in the united states economy and it's perpetrated by the federal reserve bank and you're right in that we are being charged for the vomit front so when they make a bad policy decision by like for infinity and this causes huge mal investment in the economy and let's say the the bailout of insolvent banks right and the savior of warren buffett and berkshire hathaway even though they were technically insolvent back in 2008 that is the vomit fraud that we have to pay for and then warren buffett will go on t.v. and us to plays ukulele and say thank you for paying the vomit fraud and i had to escape insolvency then you have companies like goldman sachs j.p. morgan h.s.b.c. it's a global vomit fraud phenomenon every major bank in the world commits vomit fraud

and every major population in the world has to pay for the vomit fraud you know it's like money as vomit it. really good yeah and they sell it like hey this is an amazing app where like let's you find haleigh right wherever you are am blah blah blah and you don't need to speak the language and it's a cheaper it's easier and and you know it helps drivers who gets to rent out their car essentially and they say the same thing it's like we're providing liquidity we're helping the markets we're helping the coalition providing liquidity or right this plan. if ahmed probably quit everywhere you know i got an idea for a business is called bomb a d.n.a. kit so when if somebody over a driver tries to claim that it's your vomit the backseat that the going to charge $150.00 for you can whip out your vomit d.n.a. kit and say prove it i've got my d.n.a. of my bomb and right here if you can match it i'll pay if you can match it you owe me a $500.00 for harassment baby let's get these lawyers working overtime and you mentioned warren buffett and i do want to say you know prior to this virtual jackson hole the

fed had announced they were going to announce something that was profoundly consequential but we knew they were going to do that we knew they were going to tolerate more inflation than the 2 percent we knew they were going to keep her 0 percent not only because kaiser report said that but because warren buffet fled right he he dumped his bank shares he gets the inside information he gets to speak to these fed executives because you know that's how they do it. you know we have friends who are in many of these senior primary dealers and what they do what they say is that they get calls from the fed who legitimately can say we're just researching like where before we make any policy decisions we're going to speak to senior bankers and find out what's going on what they're really doing is tipping them off and saying what would you think if we took rates negative what would you do of course they're telling the person we're going to take rates negative so what should you do so warren buffett obviously as you know them one of the most successful businessman and investors in the world so they're going to call him and

say hey warren what would you do if we come up with a profoundly consequential negative you know 0 percent interest rates for 5 years you say oh good things. you know i'd be a little bit concerned but do what you have to do sell sell sell sell j.p. morgan selves goldman sachs go along gold now it's amazing with that insider information that warren buffett has that he still underperform the market now for 15 years incredible that's the sign of a true at least open person but you know of all the insider trading. the fed's policy saying we're going to extend the quantitative easing indefinitely as you are saying that's the worst kept secret in the history of the world because there is only one thing they can possibly do that can only print you can only you can taper a ponzi scheme of things off and so before they can only print then they can only expand printing exponentially like any ponzi scheme you need a bigger base of the pyramid scheme has to get bigger and bigger and bigger it is

showing up and prices commodity prices and we do see people now reporting back and saying hey i can't afford food i'm starving on the street and the fed saying well send us something to vomit and prove it and then they say well i'm too weak to give the post office and it's closed because of voter fraud allegations they say about the vomit we can't send any more checks we've got a senate that jamie diamond because we got his vomit and it looks like legitimate jamie dimon vomit he gets all the money you get nothing but mention commodities of course aside from being a central banker plucky is a commodity he is a chicken chicken prices in a food prices have gone up and i think this is what the fed will be using as well not only will they do have donek adjustment and say well you won't eat chicken you only chicken mcnally guess what or what are food like substitutes right and look for ways to say that the prices are always declining but if you look at the c.r. be index that commodities index you'll see the commodities inflation accelerating

obvious to everyone who has it in their accounts is up 42 percent since may of course there was a huge sell off before made during the initial pandemic days again you know the 42 percent is a huge increase in the commodities prices at a time when we are going down and the you know governments especially outside the united states are running out of free money to give to people through this pandemic especially that it seems to be the case that you know they were hoping to extend and pretend and. like just another 2 weeks just another 3 weeks just another 4 weeks just another 5 weeks now it's another few months maybe next year that we might be able to return to normal some sort of normal economy whatever that is if we stay you know i don't think we'll remember what a normal economy was did i ever share with you my recipe for chicken lips oh and a classic depression era recipe which i think i'll get popular again as well as dandelion soup people who know they pick the danny lines off to the weeds weed soup

to be on but you know the thing about this inflation also remember that it's not so much inflation like people's wages are going up this is inflation caused by the collapse of the us dollar so the us dollar because of all this money printing is turning into a veritable garbage like venezuela bolivia are or is a bob way currency or about iran so people are getting sent a lot of you know checks in the mail money in the mail but that takes more of this garbage for money to buy the same amount of stuff like lumber commodities so it's an indication of a us dollar collapse every empire clips their coins ever have so in jay powell is like the roman emperor when he says you know what we're going to do quantitative easing for an eternity what he's saying is we're going to clip these silver denarius coins even more and we're going to keep clipping them and you're going to keep getting less and less money and then the empire is going to collapse and

they're going to go into a dark ages and i don't care because i like how money gone i like my money where's my money gun my money god i'm jay powell i've got a by by a roman emperor that's throwing the entire economy under the bus because i'm afraid can you hear you know. well get you know you saw the signs coming because all of the number one top investors in the wall the weather is warm weather as the raid weather was stand druckenmiller they all were exiting they were all. fleeing while the ordinary person was coming in because the ordinary person does like they don't mind the queen clipping if you have. the bread and circuses if you have all the fun games and certainly we're having these bizarre games now in america whether it's between the riots and and and like militias versus activists like shooting it out in the street burning down buildings burning down cities maybe you know some people

see that it's fun like gladiator again that's just don lemon over at c.n.n. yeah so you know that's part of the bread and circuses we have these party conventions which are. because i don't want to overmodulated blow out the audio files i won't act like kim guilfoyle oh wow she was definitely excited now but these are part of the economic clipping times this is you know when you have when the entire economy and your entire money monetary system all that it has left is vomit fraud and who you can package that fraud up and sell it to around the wall if you like lapierre games when you see these riots in the cities like portland then the wisconsin that's like the old gladiator time you just put a lot of poor people on the streets given some clubs and bats and have at it you know for our entertainment it's bread and circuses rome had a lot of civil unrest as well it's part of you know the elite abandoning you you know they just leave you to fight for yourself and that's part of what is happening

and you know stress and distress and all those sort of things oh my god what could be better well we're going to take a break and come back don't go away and remember i got my money. says he stressed to make sure that the british and the bill of voted out that he had to. stop the show was so he was free then taste it taste good to see you say so i pushed quite all shall. you which book i thought which was enough time and now look what you've seen in my response future

for a moment in there for sure i. want to go to the show through my if you're going to be. there mr ellsworth supporters are still with them to the spirit of earth for this interview for you both to do just that it's a studio actually of course to be vocal for sure it's just the same spirit. expressed. in the. welcome back to the kaiser report i'm max keiser time now to turn to tyson slocum he is the public citizens energy program dude tyson welcome back to the kaiser report they always great to be here now more blackouts in california what's the cause this time and how does the structure of the regulatory system cause the blackouts typhon the grid operator is a private company called the fornia i.s.o.

or independent system operator and they are tasked by the federal government to oversee all aspects of the grit and on august 14th and then again on august 15th they had to declare what's known as a stage 3 emergency that's the worst stage to be and because it means that they don't think that they have enough power to meet demand so they have to force poorer parts of the grid to endure blackouts to help bridge the gap between. supply and demand and so they had to do that on friday the 14th and then saturday the 15th and the immediate cause of it on friday was a very large natural gas power plant tripped they were able to secure enough imports and so it's just a complete disaster and as

a grid operator they really should not be in any position to be calling for those rolling blackouts because they should always have very predictable ability to foresee exactly what supply and demand is going to be there was a problem with some of these natural gas generators and on saturday a very large wind farm that that had unscheduled outage. it is and so we have sent letters to federal regulators at the federal energy regulatory commission and to the president of the california iowa so the grid operator asking them just to publicly identify the names of all of the generators that had unscheduled outages or were unavailable when called upon to. provide power to the state. we just want the names so that we can do our own

investigation into whether or not these power plants went down for legitimate accidental reasons or whether they went down and run style intentionally to create this. artificial shortage because one thing that happened in the immediate wake of these rolling blackouts is prices in the wholesale market of course skyrocketed so in some parts of the california market to over $3000.00 a megawatt hour which is a massive increase so. that california markets plagued with problems it's not the result of california's increased reliance on renewable energy as the primary immediate triggers were actually the failures of natural gas power plants amazing that they pay up to 3000 dollars per megawatt hour right now but the pick miners are paying less than $0.02 per hour to get out you know this us federal government

really stank because the word i caught in your explanation there with the word private right the private company energy education transportation health care it should be public they should be run by the government that's why i pay taxes but instead the taxes go to wall street right so 90 percent of the taxes of the wall street is owned by 10 percent of population and it keeps going up because as even nancy pelosi just a minute my money is going to pump i have to. buy stocks just to offset the the donation but i'm giving the head fines just to make that whole but you know the federal government really really stinks to high heaven now let's talk about california gavin newsom these the governor he recently approved a license for chevron to begin solar powered fracking in california is c. brain dead is c. on drugs is this an orwellian nightmare is he just stupid yes it's ridiculous to

approve whatever solar powered frack me that it's a nonsensical term just means that they're going to have a very expensive drilling operation that might happen to have a couple of solar panels but there's no way that that solar is going to power all of the massive energy needs that a fracking operation requires as you probably know fracking it's sort of like strapping a jet engine onto a drilling operatic to force all of that water and chemicals and and sand deep into those formations takes enormous amounts of energy and an on site solar arrays is really just going to be powering their coffee machines and the lights in the trailers it's not going to be running this fracking operation right it's the quintessential example of putting lipstick on a pig i mean cabaniss i may be brought to a new automobile a new corvette he would hire a horse to drag him around town right he doesn't understand that 11 the guy's i'm

sorry and i think he's clinically insane anyway now bloomberg reports that this is interesting like this tyson botswana and namibia are jointly to develop solar projects for a much as 5000 megawatts through installations built across their mostly flat sunny landscapes so african nations seem to understand solar is this correct oh absolutely this is one of the best applications for solar when you don't have. an already developed grid infrastructure like they have in the united states in the united kingdom and and in most other fully developed countries the challenge in a country like namibia is how to get electricity to all the people and businesses that need it and the cheapest way to do it is with solar where you can have solar panels close to the sources of consumption in the villages and towns you don't need

to install a whole bunch of large transmission infrastructure to move that solar power from where it's produced to where it's consumed instead you just cited it right there or where people live and the great thing about citing a solar array is you don't have to worry about the environmental impact of that solar production facility on the water resources or a mid in pollution it's a clean sustainable resource that can provide electricity for relatively inexpensively and you know i had a good friend that actually worked with the u.s. department of energy years ago on some small grant programs to provide this type of what's known as distributed renewable energy generation in african countries and she told me that one of the. top uses once

a community in africa installed solar was actually to charge up cell phones because the cell because just like with landlines there was no infrastructure and so making sure you had reliable electricity for your communications infrastructure was actually priority number one and then using it for lighting and and cooking and cooling need speaking of africa i see that nigeria is now 30 percent of the population if you think that point at the internet account. they're also using solar to mine bitcoin and so they're developing a circular economy to sating from the global economy in a way that nobody figure it out and they're making america look like they've done or can that they are now let me ask you this this looks like bad news wired magazine recently reported that solar panels installed in the 1990 s. and early 2000 are reaching the end of their lives and that there will be now toxic mess to clean up so what's going on here tyson yes so there's no question one of

the issues with photovoltaic cells is you do have a lot of harmful chemicals that go into the production of those facilities of course once they've been produced and they're in operation there as 0 emission resource but they do have an expiration date they've got a shelf life and so you have to have robust recycling programs so that the harmful chemicals that are within those photovoltaic arrays are being broken down and recycled in a way that minimizes environmental haarlem it lined up not for a 2nd so when you but you talk about the cost of solar are you factoring in this quote robust recycling effort is that going into calculations or is that an extra ality that you're not including in your calculation just like the oil industry doesn't include their environmental disasters and the extra nowadays of what they do right it is not currently included in the market price of solar so it's an extra

knowledge that does the to be accounted for it is important to note that the the oil industry which has extra now these all over the place the. you're having to constantly use a steady supply of petroleum as fuel to move your airplane or your automobile or air out outside us girls at tyson that public citizens energy program you're doing the research you're a think tank they're putting paper to pencil the paper what is you know what the cost is the real cost we don't know the exact cost but we do know that it's likely going to be lower than the extra knowledge is for fossil fuels and that's because the recycling and processing cost is a $1.00 time cost that occurs at the end of the lifespan of the solar solar photovoltaic assembly and so there's also valuable elements in there that can

likely be sold for. for profit and so all you have to do is invest in the recycling infrastructure and i'm confident that those extra knowledge. for solar are going to be far far lower than what we see for the daily extra ality toll for fossil fuels i want to follow up on a question from last time we spoke the us now is an e.t.f. traded on the stock exchange it faces a joint s.t.c. and c f t c investigation as to whether or not investors understood the rest of the strategy now we talked about it at the time tyson that this was. a bag of worms that was being sold as an investment grade when it's absolutely not. what's what's the status on this because this is outright fraud in my opinion tyson where you think well that's what federal regulators are going after them because united states oil fund basically had to change the bulk of it. investment strategy

because one of its primary counter parties the royal bank of canada that cleared all of it will futures purchases. they basically told them in may we're not doing this for you anymore because that april 20th shock of oil prices going to negative $37.00 a barrel all of a sudden meant that some of those counter parties like the royal bank of canada or others could be on the hook and the investors in united states oil fund could be on the hook for millions and millions of dollars in lawsuits and so it exposes a fundamental flaw of this e.t.f. or exchange traded fund methodology that as you. accurately say it's a bag of worms and so they're in trouble and they and they ought to be we from the

very beginning had problems with these e.t.s going into commodity markets and they are disrupting. these commodity markets they're creating. false demand that is negatively impacting. the the price formation in ways that are inhibiting the ability of actual folks that need to hedge their exposure to risk or either their production of oil or their consumption of it these e.t.f. sir are messing around with it so you know the announcement by both the securities exchange commission and the commodity futures trading commission on august 19th that their staff has essentially recommended and source men action this is sort of be pulling the merry step to. the commissioners of both of these independent regulators taking enforcement action against u.s.

oil fun right what every one of my understanding is that they're going to put that for the queen and then show rule on death of private inquiry as it's in the monarchy in the u.s. dollar at the matter thing already tyson slocum thanks so much for being on the kaiser report always my pleasure. that's going to do it for this edition of the guys report with me backscatter as they stare but i guess tyson slocum of public citizen if you don't want to catch us on twitter it's kaiser report the next time. the world is driven by shaped by.

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