i'm sure. i'll see you then. everybody as if this is the kaiser of port au. max this is the last week that i am allowed to wear white according to the fashion police so you know when labor day comes up we're not supposed to wear white after that. so i'm going to wear as much white as possible hopefully i'm not blowing your eyes out you look like the good healer woman. delivering a scream in the good good humor woman truck. well you know what there's a lot of looting and plunder going on and we have to refer to the quote from

frederick that we refer to all the time as this is something we've warned you about for a decade now and it's really really coming true frederick boston yet 'd said when plunder becomes a way of life for a group of men in a society over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies good words of warning there you know looting begets more looting of becomes institutionalized becomes accepted at the top and then you have a class of people that come up with elaborate ways to defend their looting in the name of but say patriotism or religious fervor or capitalism or some other reason and then society splits apart and that's where we're at well let's talk about the looting and plunder that we see up at the top we have the central bank and what do they do money print to go put it right what is

that doing but stealing is theft through inflation and flesh inflation is a form of fast it's taking savings from people who don't necessarily want their savings looted then you have the private equity group below them who are overseen by the central banks the next step down from the central banks the private equity what do they do they strip a company they buy up these companies using the company's own assets by the way like that's a former theft like ok we're going to use your net assets we're not going to use our own money we're going to buy you out and then hollow it out swap your assets for debt bankrupt the pension of your company employees and then we're gone. to leave a carcass of an economy behind and now the next step as we see these people. looting and rioting in the streets plundering in the streets smashing up small businesses and medium sized enterprises and stuff like that militias forming here's from the left wing side of it here's yeah it comes the money shot this out this is crazy

crazy write that check it out it's so crazy be prepared to sit down if you're not sitting down strap yourself in you're going to be a wild ride the next 30 seconds it's actually a g o p myth that has over the last 20 years really crawled into an even leftist discourse that the small business owner must be respected that the small business owner crease jobs and is part of the community says the author of in defense of looting so the small business owners don't longer seen as the engine of the growth in an economy this is a deferral to the keynesian central planners i mean this is the alternative to having small businesses at the root of the economy is to defer to central planners right so that's a repudiation of the entire concept of the enlightenment going back to adam smith right so this is a return to either neo feudalism but you must respect the king that only the king

knows or it's an acceptance of a certain let's call it as a show of economy centrally planned poll appear oh those are the 2 discussed how you would justify this if you believe in those 2 systems i mean of course we have a robber baron system now right we have jeff bezos just turned to a 200 billionaire he's worth 200000000000 the 1st ever to work be worth that much nominally that is because exactly what this person is talking about private equity has already looted a lot of the system and then into that comes all of these huge monopolist that have monopoly pricing power and predatory pricing power over. you know people who provide the goods and services to the marketplace like amazon so we already have a system whereby they're championing so now this person is saying that and national public radio in america is amplifying it is saying that this is just the fight to loot because somehow like we can't talk about the bigger systemic issue like the

looting from the top the central banks then the private equity and then the banks and then all this like let's target our fellow ordinary shmucks citizen because that's the only person we have power over we can throw rocks and destroy their business it gives us some sense of of closure of fulfillment that we've done something because we can't touch best as we can't touch the system we can't touch the financial or monetary systems well i think there's also something going on here in terms of the left is sensing a loss in november election and they're trying to cause trouble they're stirring the pot and they're trying to get a little bit of a civil war going that they can blame trump for that and but one way to do that is by saying it's ok to loot the small businesses and that is that's. the comment meant to stir social unrest looting and violence so that's what the left is up to now and by the left we have to include folks like c.n.n.

of course as you know one of these cities portland or something was burning down there is that famous you know kyra i'm going across a c.n.n. you know there reporter from. then right behind him everything is on fire he says fiery you know fire a largely peaceful protest but the entire ice tree is on fire but it's like oh how is your chip on the titanic oh a little wet door down there but otherwise great. well you know so one thing i do want to mention before i move on to this the larger the systemic issue that these people on the street are not addressing and that's the central banks on the monetary system is that you know if you look back to the 1972 elections and a lot of people are saying that right now in the streets of reminds him a lot of the late sixty's and early seventy's in america on the unrest and protests that were happening then of course it was animated back then by not only the civil rights era but also the anti-war movement and vietnam now it's

a little bit more it. harder to decipher but on the left you do you have that same problem that you had back then which was a new young power powerful in their size but the boomers were coming of age back then and they were way more left than the older democrats who wanted the corporate sort of hillary clinton candidate and back then the younger can the younger anti-war protesters wanted somebody like george mcgovern who is like the bernie sanders of the day so there is that sort of divide of a powerful generation coming onstream which is the generations and the younger millennial but in terms of the overall larger picture that they're missing is this one bank finally tells the truth the fed policies have become part of the problem and this is rainbow bank from the netherlands and it's philip merry who in his fed post-mortem titled the wrong kind of symmetry he writes that in the one of the most

overt criticisms of the fed we have read today mary writes that while the feds step to make the inflation target more symmetric may benefit the wages of the average american somewhat beyond 2020 it does not really address the deeper problem with the role the fed is play. being in the u.s. economy it could be argued that the faz policies have become part of the problem instead of the solution they go on to say and i'll read this in a bit but they say that the fed is enabling and enriching that one percent that's why jeff bezos was worth $130000000000.00 in january and now he's worth $200000000000.00 and that's after he gave $30000000000.00 to his ex-wife right you mention the late sixty's and early seventy's and the split generationally the boomers were more left then the prevailing democratic party at the time and now we've got the you know caesar the millennial is that are more left than the prevailing democratic party at the time so there's a left wing search happening politically in the $71.00 of course knew us to close

the gold window to pay for the vietnam war right so they defaulted on their foreign obligation so in a lot of ways what's happening today is a continuation of the vietnam war and what happened in the early seventy's in mid seventy's with the rise of the weather underground in the s.l.a. and extreme left wing violent extremists and that's this is a continuation so america borrow 4050 years of time by closing the gold window and by expanding their monetary base and 2 or and 3 their own account of training more but the m $2.00 money supply has skyrocketed many hundreds of percentage points to pay for the mistakes of vietnam essentially so this is a revisitation of the vietnam debacle and that america is that how collapsing as it was right before we closed the gold one down and then we flooded the market with this fake paper money but the rest of the world not only vietnam but china russia venezuela you know much of the world is rejecting that paper money so this

is an echo of the vietnam era and i don't think it's going to work out very well as you see it i think banks like rainbow bank robber bank repot rainbow bank well they said. the much deeper problem for the us economy is the asymmetric impact of fed policies on households and businesses the fed's monetary regulatory policies have contributed to a form of capitalism where the rewards are going to the one percent and the risks are borne by the 99 percent the current crisis response has made it painfully clear again that the fed's policies benefit high income individuals and large corporations while small businesses and low income individuals bear the burden while the fed likes to see itself as part of the solution to america's economic problems it should ask itself whether it is part of these problems so that's the top right that's what the fed is doing these people down at the bottom in defense of looting that's the same argument that they use where they say that looting provides people with an imaginative sense of freedom and pleasure and help some

imagine a world that could be so again just like the fed is doing they're targeting small businesses and small enterprises to take from them to enrich themselves ok use the vietnam war as a great allergy by the mid sixty's 25000 american soldiers dead robert mcnamara said there was almost no chance of winning the general said there's no chance of winning just like the fed knows in their f o m c meeting there's no way to cure these problems but what do they do in the vietnam war or the doing of the federal reserve bank they're going to do double down on that more troops more troops more money print more money printing and course in vietnam they wiped out another 30000 soldiers knowing. without any equivocation that it was a suicide mission going from 65 forward it was all going to be suicide mission from america the fed is saying we know these policies don't work we're going to triple

down to quadruple down because we think conceptually they should and we're not going to believe the evidence before us that they're not that's really important to look into because mcnamara was very clear in his private memos to the president that this war in vietnam was unwinnable and the same thing i bet you anything you're going to find the same thing in 20 years later is when we found out about robert mcnamara really what he thought well as he sent off tens and tens of thousands of people in america to death lord knows how many and and vietnam but you know the same thing i think we'll find out in 2550 years i forget how long they passed a law recently to keep those of the real no secret for quite a long time but i think they're probably saying the same thing it's like wow you know we're just sending this economy to its death but we don't know what to do because otherwise we have to say face we don't want to look we don't want to humiliate ourselves. yeah exactly so the prognosis is horrendous essentially

an economic collapse is what they're banking on with these fed policies so you know get ready we're going to take a break and when i come back let's war coming your way. throughout its history just as with the self-proclaimed islamic state terrorist group the group set 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. when he's not going to. well i didn't post on you will be the same people that said you could move. all in you to the. hundreds of children and widows were held captive all disappeared.

seems to be. back in russia those children families were going to have such fun. while the demick no certainly no border is just blind to nationalities. as american targets are we don't look like seeing world peace to. judge a. commentary crisis with this system to times we can do better we should. everyone is contributing way but we also know that this

crisis will not go on forever the challenge is critical to response has been so many good people are helping us. it makes us feel very proud that we're in it together. welcome back to the kaiser report i'm max foster time not to go to well i'm a little cooper he's the founder of commodity discovery fund and author of the big reset the war on gold and the financial end game willem welcome back and congratulations on your book the big race and we interview you about 5 years ago when that book came out you are the oracle of abstract and well i'm everything you said in the book is a true. well thank you i remember meeting only a very cold warning in amsterdam freezing cold and i think i remarked that

around 2020 there would be a need for a monetary reset well that we are let's pick your brain and get your insights on a few things here so dutch bank robber banks said that the fed policies are enriching the top one percent at the expense of the bottom 99 percent that is the say they can tell in effect their own powell are fed chairman over here denies this with whom do you agree well and why does this matter to the economy to close this fast can be too honest. on that point and now you know the rabble bank it's one of the main banks of course in analysis one of the main banks worldwide and it's one of the banks who tend to be quite honest ones in a while they have some great economists so they have been on top of the currency the basement story for quite some time so i'm glad that song well there are. some great and some good phrase here and the netherlands trying to be to be honest

because you know larry summers former secretary of the treasury e.c. remarked a few weeks ago that we are past peak central banking and jackson hole just one year ago we had mark carney the. owner of the bank of england say and he gave a. speech during the lunch and he said it's time to to organize a new monetary system to replace the u.s. dollar so i think inside us are well well they're not becoming honest but they can't ignore it anymore and i'm not one to say you know let me ask you a question about asked of them and you know we've been there many times to the netherlands and it's such a great country and that's such a great city and of course they have a reputation for being quite liberal minded and there's a lot of activism now we we met up with greenpeace many times in after them and our

message to them 1516 years ago was that it's the central bank that is the root of all the issues that activists come to protest against my question is is there a growing awareness in the activist the progress of the liver the liber the liberal communities that the root of their problem is a central bank you're quite right and one example. is of course what's happened with the millennial send as a huge community and then stood down in the netherlands and all over europe. millennial to really gold in full view the christo highs in 2016 and so issue 2070 and well i does life does highs a little bit but i was very happy that these young people all started to reach into the. wealthy or regions of the monetary system and all the they found out all the excesses of the momentary system and i myself as having

a vidas quite a bit to the platform sent to dad and bits going wednesday seminars and there's a very large interest not only from the more older mature ridge guys you know the gold the community but there's a whole new generation now. all discovering the secrets of central banking and that's been a fraud of course for 4 decades and that's becoming. mainstream one now your book the big race that went to a talking about this when it came out 5 years ago i believe now the subtitle is the war on gold so let's talk about gold because the people it appears as though gold is winning the war at this point goldman sachs says the soaring gold price of gold suggest u.s. dollars days are numbered and we've got bank of america forecasting $3000.00 for

gold by this time next year it is the war about to and the favor of gold yeah the deal losing them to warm gold so that the central bankers store street the usual suspects they're losing his war on gold ass they have done in the 967 i know you know a little bit of momentary history and we had a lovely old school in the 1960 so central banks were dumping central bank gold reserves to keep the price fixed at $35.00 per ounce in the late ninety's sixty's more and more countries didn't want to cooperate anymore and a started to jump out of this leaking shift and then we had of course in $171.00 the disconnect between the dollar and gold and if we look now one could say the 2nd loan them gold who is failing and as this is short squeeze at especially at the

chrome eccentrics future markets developing and if you look at the physical deliveries we see high on high amounts of physical gold is still being delivered every month now and this has started in march doing the corona crisis panic sell i think this is the last phase of this go warrior people are familiar with what a bank. on is banks don't have all the money on deposit that they say that they do and when people are concerned they go to the bank to collect that their money and it's not there and there's a bank run but people are probably not familiar with a gold bank run the l b m a and the comex are facing a problem they dealers in that market want physical delivery and that's not available because they've sold it and all i have is paper claims and this is causing a gold run in a gold buying panic amongst the 2 biggest exchanges in the world and of course as

we've seen with stocks like tesla when there's a huge short sways these stocks are these commodities in this case called can start to rocket higher just based on market dislocations but i want to ask you about warren buffett he's one of the most successful investors in american history and he's been up to some strength things lightly he dumped a lot of always bank shares pretty much except for one he got into gold miner barack which he said he would never get into gold he said he would never abandon america and then he just put $6000000000.00 in to jeff japanese stocks and which is another way to essentially get out of the u.s. dollar am i correct in viewing this these moves by warren as he's exiting the dollar or heads against the dollar collapse as much as possible well i'm this is exactly the same like we have been doing for the last 1015 years maybe we were a little too early but just as we all know you hate gold but you love cash flow and now he's buying into gold miners because they have

a huge increase of that cash flows and the undervaluation of commodities there you know today we heard the news that he bought into 5 jeff the nice commodity trading houses and a valuation in in the world of commodities is enormous hours just look at through my charts to. this weekend and if you look at the end of valuation of commodities compared to the s.n.p. 500 we reached a new low a 100 year timescales. i understand why he's moving to a goal now it's one of the few sectors us where dividends dying creasing i think he likes tech and he likes goals both filthy so sectors are doing amazingly well especially since the corona crisis but well in tech you have over fell you ation and no difference in goals you have and the valuation and you have increasing

diffidence so he's he's still smart guy and i even just a 90 self-congratulation so warm let me ask about another money manager right dahlia he's another hugely successful have fun manager he's got the biggest had fun in the world as a matter of fact he's not 20 percent golfball the on the on this debt and paying nonsense he's gone for the gusto the actual medal itself what does that tell you i'm not that surprising today dalio a wonderful. billionaire asses moving towards gold space because i think the mood has changed since the middle of 20192900 in the summer of 2900 alley 0 wrote a set important new t. sis paradigm shift and we had to jones said so all are very big guys and us all started to tolka but what surprised me most was the news today that ohio and shift fund is starting to have best 5 percent of debt assets into gold and debt

see huge shine because there is too should no money especially from pension funds and we've seen the same here in the netherlands it is not dumb the central banks will colu and try to convince you not to put any serious money into gold and now it is starting and you know there's 50 trillion invested in all pension funds who. a wide right now only one percent or 2 percent of this money that's a $1.00 trillions go to ward's gold that would be 10 times the amount of all money invested into the gulf states in 2018 so little space is a very very small will and that's why you see the use returns now in all gold related equities are fun to having 5 months in a row double digit returns now and people start to notice so we see huge inflows see in the netherlands as well and even broaden that out to the global invents and vestment managed money same as double that number $200.00 trillion dollars so i

extrapolate ing what we know to be the case less than one percent of that $100.00 trillion dollars in gold and if people follow the ohio pension funds model going from 0 allocation to 5 percent so that means the go on go on a global basis are going from last in a giant to 5 trillion and call the total market cap of gold these days is roughly a half or 9 trillion souray we would say that a doubling in demand you know you've got your finger on the pulse of the gold market pretty pretty tight there is there even that if suddenly there was an 8 trillion dollar demand for gold is it isn't even available can can that be can that be open source well no as you might remember and big reset i wrote in 2015 that. we could expect a few. developments during a momentary reset one is we need to find

a new anchor fools voluntary system that's what mark carney sad as well last year the 2nd one is so we need a way for death restructurings but the 3rd one i mention in the book is we need a goal the revaluation a gold revaluation means that double duty devaluation and i also wrote in the group that you can have a gold revaluation because of market forces what we see now is. still moves up the cost as you do or bankruptcy a goals are usually way to much higher levels because central bank would like to revalue gold much higher like they did in the 1930 s. and i think when we see some more serious introduced into the goal space i would be surprised by will when we would have a sudden announcement on a sunday afternoon or sunday night that central banks are revaluing their gold reserves and that would change the whole financial industry while i'm middle coop thanks for being on the show thank you max thanks for having me well that's going

to do it for this edition of the kaiser a part with me max kaiser stacy harvard like the thanks well a metal cup if you want to find his book the big race that it's available in different languages on amazon if you want to catch us on twitter at kaiser at park until i stop by off. during the vietnam war u.s. forces also bombs neighboring laos it was a secret war. and for years the american people did not know. how much anticipation . country per capita. was soon in history millions of unexploded bombs still in danger lives in this small agricultural country. we have been going to continue tapping even today kids in laos full victim to bombs dropped decades

ago is the us making amends for the tragedy in laos built to the people need in that little land of mine. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation whole community. are you going the right way or are you being led so. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or

a maybe in the shallowness. this hour's headlines stories moscow calls on germany to its information all media poisoning alexina me berlin is blaming the russian opposition figure was targeted with chemical nerve agents. if there was any data we would work but there is no data there are only statements amounting to megaphone diplomacy. so ahead on the program the us box on it all the international effort to develop a covert $1000.00 vaccine washington says it does not want to be constrained by the world health organization. on the u.s. courts rules that must harvesting of private phone records.