because i'd like to see the stocks you want because i own the stock myself and i'd like to retire a billionaire i work a hedge fund like all the other extra presidents do and make more billions goes i like my money because a lot of what i need. 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 grand central and take it down to freedom tower and you think a 2527 bucks that's pretty good the next day you tune in to your account and you find that you can charge one $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 bucks 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. 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 ice skate can solve and see 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. good yeah and they sell it like hey this is an amazing like let's you find haleigh ride wherever you are and 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 low actually providing liquidity are right there's plenty of ahmed from acquitted everywhere you know i got an idea for

a business is called vomit d.n.a. kit so when if somebody driver tries to claim that it's your vomit the backseat that they're going to charge 100 $50.00 for you can whip out your vomit d.n.a. kid 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 $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 sir 0 percent not only because kaiser report said that but because warren buffett 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 and of course they're telling the person we're going to take rates negative so what should you do so warren buffett obviously is 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 sells 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 to put person but you know all this insider trading in the fed's

policy saying we're going to extend 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't taper a ponzi scheme as we've often said 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 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 you mention commodities of course aside from being a central banker plucky is a. maybe 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 uli 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 commodity is 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 just 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 the 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 we we'd 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 co-op's of the u.s. dollar so the u.s. dollar because of all this money printing is turning into the veritable garbage like a venezuelan bowl of our or as 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. 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 every yeah so when 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 so over 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 i'm going to go into a dark ages and i don't care because i like how money gone i like my money going to where it's well money gun oh look my money goes i'm jay powell i'm out of my body i'm a roman emperor that's throwing the entire economy under the bus because i'm afraid can you do you know. get you know you saw the signs coming because all of the number one top investors in the wall the weather is warm weather is a raid whether it was 10 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 coin clipping if you have. the bread and circuses if you have all the fun games and certainly we're having these bizarre good teams 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 as 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 a lot of your games when you see these riots in the cities like portland then there was constant this 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 bread 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 gone. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic development the only relief. i

don't see how that strategy will be successful very critical. to sit down and talk. said she stressed to no longer this or that the british and the bill of bullshit out that it will. stop the actual strike your street dentist the place to do so you say so i pushed. to which she never happened and now look what you've seen in a response you took a moment of me for to share. or to talk to you sort of through my it's a bonus for each of you look. at the mystery of the word support or are still

looking to the spirit for this interview but you believe it is that it's a studio actually of course a person has to be vocal or should step up and spit it. expressed. the world is driven by shaped by those. thinks. we dare to ask.

welcome back to the kaiser report i'm max keiser time now to turn to tyson slocum he is the public citizen's energy program did 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 they pick one miner they're 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 was 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 newsome 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 fracking 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 onsite 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 gavin newsom if you bought a new automobile a new corvette he would hire a horse to drag him around town right he doesn't understand that 11 the guys i'm sorry 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 nation 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 where 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 saving 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 in our 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 calculations 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 outside us girls at tyson that public citizens energy program you're doing the research you're a think tank you're putting paper to pencil the paper what is it 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 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 the 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 unsourced 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 mine is standing at that they're going to put that for the queen and then show rule on death of private inquiry has it 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 kaiser report with me max stay sara 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. throughout its history with the self-proclaimed islamic state terrorist group have recruited up to 30000 foreigners from all over the world to fight for the.

sounds of russian citizens left their country to join the terrorists often bringing wives and children with them. and you have no. more new to the. hundreds of children and widows were held captive disappeared. those children's families went search for. trade and investment to become magic spells to conjure economic development. most people think about trade they think about goods and services being exchanged

between countries and the in fast chapter of a trade agreement is about something very different but what when investment leads to toxic manufacturing that destroys sacred sites or ruins the environment. that means local communities that are being poisoned. jack if they do anything that the company feels is interrupting their profits they can he says. the nationals are taking on the whole nation still in the arse is trying to use i.s.t.'s to stop tour of the white implementing new tobacco regulations aimed at cutting domestic smoking rates a french company sued egypt because egypt resists minimum wage democratic choice of a trump called which will join us as we try to find one of the 2. of

. the new school year gets under way for students across the world but classroom life is a whole lot different than that before i made it tough new rules. authorities in berlin get strict about the wearing of masks during public protest following a series of demonstrations against germany's coronavirus measures also ahead. let her. touch the french president's visit to lebanon is overshadowed by protests with hundreds voicing their anger over the appointment of a new prime minister and i know my cross is promising aid but also threatening sanctions if reforms fail to materialise.