if you look at collapses now the whole system would collapse and would follow and everything would be put back years the president of valor bruce gives an interview to russian media including our city where he claims his country would collapse if he's all style. meanwhile dozens were arrested during rallies protesting the detention of the opposition figure heads maria kolesnik over. 70 hands is test results on alexina valley to the global chemical weapons watchdog office saying the russian opposition figure had been poisoned with. moscow had been pressuring berlin to share the data

. coronavirus cases surge in the u.k. boris johnson ramps up restrictions in england with the so-called rule of 6 banning gatherings of more than 6 people. on to the largest refugee camp in response to the grounds leaving thousands without shelter and raising fears about the spread of. that's it for this hour's headlines next hour to internationalise the kinds of reports but if you're watching in the u.k. or islands it's been. hi i'm max kaiser this is the kaiser report snitched. first as always i will start reminding you that you can find us on social media at

mines dot com for its last stacy herbert's or max kaiser you can find out mines dot com forward slash max kaiser so we're moving our social media presence over there from twitter and i want to talk about chasing stock splits with marks and king so i see them in my headlines today so i figure i'll name check them and talk about them 1st up we have a tweet here that says robin hood schwab outages last week linked directly to tesla and apple split the money ellison generation's ear on their robin-hood apps and their schwab apps and they're chasing these stocks flits max well you know i predicted that would there would be a problem just like the millennium bug if in memory back in year 2000 there was a lot of fear that the computer systems would be able to handle a double 0 of the year 2000 and that proved to be not the case but in this case there was a problem in terms of the stock splits there were these robin-hood after apple's

already lost traded stock out there and so it split and so the the back ends of these systems couldn't handle it so. you know they sort of did out the a lot of misinformation amongst these new traders these robin hood traders i thought they were getting free sharer somehow and it's really fascinating to see really learning curve amongst teenagers and 20 somethings about how stock markets work and you know experience is a great teacher and that usually means losing a lot of money but that's also a very good teacher true that's the only way i really. i learned i never learned sitting in front of a professor in a classroom i learned the most when i get racks it does bring up the notion of this fictitious capital and that you know this is kind of the future that marx would see is that everything is so life removed from industrial production or any sort of production or labor that we get to a point of fictitious koppel and then in that sort of space there's like no limit

up really because it's just limited by our imagination it's goes back to neal feudalism in a certain medieval church driven notion of how many angels can you dance on the head of a pin rights of the street like goldman sachs or j.p. morgan like how many derivatives can we get to back to you know it's done can we derive from this nonexistent collateral right that's the same kind of mentality and it leads to a god complex obviously that people the church back in the medieval times felt that they were very close to god that proved to be not so correct and also the bankers on wall street they believe they're very close to god as blankfein said he's doing god's work and that will be equally fallacious well it certainly fictitious capital and here is another tweet along that line is will the strongest gravitational force reversion to the mean also bring down the stock market the us market cap has totally decoupled from the real economy and you can definitely see in that 1st car

in particular that the real economy it continues to grow like at the rate of gold supplies grows every year slowly but surely no huge jumps like you see in the stock market which has torn off from all reality partly because we have our own rio our reality t.v. president and i think that's helped with this notion that they're the sky's the limit in terms of how high these can go if it could trade at a 1000 times earnings why not 10000 times earnings right this whole idea of reversion to the mean and the disconnect between main street and wall street this. this is been true now for 20 years and what i've been saying now for a couple of years is that sure there would be a reversion to the mean in the last essential banks are buying these stocks and they have the ability to print money to buy these stocks and the number of actual stocks available for trading is declining because a stock buybacks so that would indicate that the end game is not

a reversion to the mean but the entire market being taken private and then you have a central banks own as marx you know would warn against i guess in this context 100 percent of all the productive capacity in the economy and certainly in switzerland they're the biggest i think the biggest owner of apple stock is the swiss national bank the central bank of america the federal reserve owns almost 40 percent of america's g.d.p. is owned by the central bank and this is played out all over the world and so we're seeing a centrally a leveraged buyout you know mike milken would be very proud of his creation the leveraged buyout is being used by central banks to take the global 100 trillion dollar g.d.p. private in terms of this global casino gulag no bigger casino than the options market where you know your money goes to die most options expire worthless but it's pouring in there i mean these charts are pretty amazing how much of retail is

pouring in they believe i guess a lot of people are thinking that it's easier money because you're only putting up a tiny bit and they also believe that because of this reddit form bored of wall street bets that they found a magical way for that not the house to always win but the chance to eastland that they somehow they're going to always win because they feel like they've made if if all these young people pile in on these options that they force the market makers in the options market to buy the actual underlying stock so that they're driving the price higher maybe we'll talk to the expert in a 2nd but 1st retail and. esther's going all in using the options and hands stock market money machine explosion and bullish contracts is driven by retail traders rising volume of call options seeing whipping up volatility and mind there that's gone parabolic that's the number of retail investors piling into these call options the options market is this generation's vietnam basically this is where you

know thousands tens of thousands hundreds of thousands if not a 1000000 young men and women go to get obliterated for no reason because there's no reason why any of them should buy an option there's just no justification for that whatsoever just like there was done for the vietnam war but they got along the hardware you again thanks to them though the pros who are the market makers are raking it in the manipulation of the options market to the options market that was kind of like the launch of the 1st huge derivatives market late seventy's early eighty's and they because often start to rid of theirs they have no intrinsic value right it's all price based on the option pricing volatility formula there's a formula an algorithm to create the price discovery of an option but there is no actual intrinsic value and for this reason regulators set out a very strict framework from which. option is

traders and market majors must have here for example position limits because otherwise it would be very easy to manipulate this market so you've got the guy sun trust bank in japan has manipulated the these markets and he's broken the law he violated position limits by and by it like 50000 percent against the f.c.c. and the c.f.d. see in the financial regulators i don't know what the problem is either they're stupid they got bought out they're corrupt but they're not they're not about forcing the law anywhere near. forcing the law and it's this shameful so these retail traders again i don't know why you know there are so many different investments in the united states that the ordinary investor is not allowed to participate then but somehow they can participate in this where it's something which is that 80 percent 90 percent of options expire worthless. so it's like i don't know how they're allowed to go into that that's basically like that the

returns on a v.c. investment right like 90 percent go to 0 but it's the 10 percent that go like 550 x. or something but here there's no chance of them going 50 x. on you know unless they're way way out of the money and make a crazy bet it's downlinked you know remember under bill clinton they they introduce commodity futures modernization act and before that this would have been considered gambling and you would have needed a gambling license in the states yes and now because of bill clinton in that act this is been moved from the gambling side of the regulatory framework over to the investment side for this very reason to sucker in people and just harvest them in a like a war like situation yet because the original purpose of these was for like hedge funds and investment managers to manage they have a huge amount of i.b.m. in their portfolio to hedge the risk of it going too far either way you know

especially down so you know if if you're going to. be for professional hedges these people are just doing it as a bet itself well options on like futures contracts for the most part you have a limited you have a fixed loss whereas in the futures contracts you can you have unlimited losses pretty much but in the options market you for the most part your your losses limited to the actual investment you do most you can lose 100 percent in the auction market whereas in the futures market it can be more than 100 percent but the purpose of options is to. strategically to have a purpose and they ballet. the interest of speculators and those who have a genuine interest in hedging their portfolios you know during the night what started the 1987 crash was that there was a product called portfolio insurance which was a derivative on portfolios so that for example i was a stock broker at the time and i could have a $1000000.00 portfolio or a $10000000.00 portfolio i could insure that with options for one or 2 percent here

and but what happened was that we sold the gargantuan amounts of the stuff against the underlying cash market and what happened in 87 is that the cash market in new york and the futures market in chicago got into a database contention meltdown essentially and they. were referencing suffer a french old meltdown it was a technological meltdown and so the point being that this stuff has to be tightly regulated and managed by this not the regulators i don't know why the regulators think it's ok to send you know a 1000000 robinhood app trainers into their parents' basement broke i don't know what the point is i mean how much what are you doing why are you doing that yeah it's like the crazy well the next headline and we turn to keynes where i think the answer lies when money dies the barbarous relic gold comes into its own so if money is dying and this game is dying and this forever rolling over all the debt and to bigger and bigger piles of derivatives is dying then you know you want to eke out

the last gains right and you have to go lower and lower i think we're going to have more and more stock splits more and more who maybe who may have a fraction of a penny coin or the outfit way i guess are going to have $100000.00 coins or something seems like you have to find a way to get the last dregs of you know fashions come and go right so member during the 2008 crisis what was fashionable were reversed splits remember citigroup had crashed so badly they did it's time for one reverse split and so that was the fashion after the dot com crash there were a lot of reverse splits. and so now the fashion is splitting and after they you know tesla stock could drop to $0.25 a share it would you know it could quite conceivably it could and then they would announce a reverse split of 20 or 30 or 50 to one to make a look better so it's all cosmetic right it's all perception and the options in the

stock market particularly since 1971 going up the gold standard valuation is driven by perception tesla is a mean that's the value of the perception of the me that has the underlying fundamental value is 110th of what the price is in the market at most but as a name it has value in the but the global economy is based on mame so the way the wall street's going to feed wherever it is a was there's a saying on wall street you you feed the ducks when they're quacking. right fictitious capital the miles are quacking so you got to feed their quack quack quack quack we want cheap options quack quack quack so they just that's why plucky is their central banker a plucky rules oh we have to correct and when we come back much more coming your way.

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welcome back to the kaiser report imax commissaire time now to go to send claire skinner of bill mari i love black people and black black change summit happening this weekend on line this year's theme is blocked chain essentials for life global black survival sinclair welcome back to the kaiser report thank you so good to be blacks the next always let's start by discussing black black chain summit being held on line this weekend i understand maximizers going to be a part of it the theme is global black survival elaborate on the theme parents house who'll be speaking aside from max kaiser we got to grace that populous we have job. we have i say exact quote and say well. how many days we have a major thing. like. experts in so keep it very much the

best time and it's far as there is space up the the blotching. decisions the right really comes out of the work john talked about a life and get the economy and the fact that we need to let recent technology like . special cyber scene so many young people come up likewise that are you know what does that really need to get assessed that going forward you have to actually look at the way we actually see how we can change yet john perkins that's a fascinating choice you know he of course wrote the book confessions of an economic hitman talking about how the cia america's intelligence organization goes to different countries and takes them over economic player when they don't cooperate with sas they don't that's pretty much our foreign policy we've seen that for decades in america and now are saying it at home because they. run out of

countries to. conquer essentially with our debt so cia is now domesticated they're doing it they're doing it in our own backyard in principle in the black population is being disenfranchised by the cia now so do you think this john perkins talk will what do you think will people come away after he does his talk because i mean you know his work i know his work and i think this might be big news to the black population and exactly how it all works the banking how the banks are tied then with the cia and tied in with this and franchise when you're we're. broke it's we're i think what it does it does give it pulls the trigger back and actually poses the truth and i think oftentimes in the black community we're not always able to get access to intellect and minds like job perkins and what we're our responsibility at the black watching something is actually make set knowledge

useful and relevant and so let me again you've got me it's open space but me watching your show so in the many ways is about. the lights and knowledge base and be able to come up with the way solve problems so you're absolutely right we use a drug issue in america we use the legal arms in america our foreign and domestic policy mirrors each other there's no real you can have that many people killed in chicago and n.s.a. a.t.f. they f.b.i. i don't know joe jordan rape rape i thanks lever to be able to outsmart all those out also on the program as i think attacks on a car as he had a huge breakout book this past year because in a black america and you know this is really setting the agenda i think for the next 10 years when he's talking about you know as you point out you know i've been talking about decline for

a few years now this book. really captured the imagination i think attacks and and i say more everywhere now talking to media folks around the world and he's really i think got the message that needs to be heard this is the year of course of george floyd and the one that sparked off a lot of protest but again my question is this to you. the black lives matter movement and all the other movements in america that are against being abused by domestic terrorism coming from cia f.b.i. police exciter are. they going to get on the big coin bandwagon this year is this the year that all comes together yes i do think they'll move people of them actually it's a real salute to bankers what the i and the f.b.i. that they basically high east police and it in a day we need to come up with our old system we've got to stop eating that devil

democrat the reforms that we've got to actually create work with the technologies that are there and i say. maybe i'm a light is a superstar in this space and not peddling some type of. you know i feel. really speech to i think the fundamentals of what power a pic or in is what our community it is black people and i think. conferences like the black bloc a summit. he attended our 1st one and 2nd one we want to be a place where mines like that can actually create the fertile ground for other minds to keep building on it so this is when i took each elephant one bite but with people like yourself 1 i say i am going to take the best is and run with it directly in the community. i think is just a basic and it makes you know everybody does something no one has to do

a lot and i know he carried a lot of this on your shoulders but i think i hope you know that you inspire so many of us in this work we could do it as as excellent work states is made to do i'm sure without your inspiration your traction your straightforwardness to keep it real i may backs if i don't say i just heard about this rather die david. was with the occupy movement. and you know. people like you we do we got to give you your flowers while you're alive and you know i don't which you get no cohabit out of which you get sick from the fall and can't grow thank you so much for being that beacon of light thank you whenever. it's great to be the guy that got into the ocean is black look black any time speaking of.

enlightened black folks who are really taking it the whole movement to a level that he's a get to rick nash and i'm on the show recently i try to get him and i say at jackson in a room together to talk to talk bitcoin you know to make he's big on reparations he says oh we'll get a reparations 1st and then we'll talk to calling but i would you know we gotta go and go and find terry sit down with them and you know have a powwow and talk about all this apart like that would be a great a great thing so yeah thanks for the thanks for those time words you know it's a song get let's talk about you or. you know your day job your main project what's happening down there and that bill maher is central you've got now the global green book explain what the global green book is and going to have today our black yelp product. our project to be working on a body here in the apple i love black people dot com we're actually going to be

fully launching it or 30 here and we've been able to amass over 20000 businesses locally and the mission is to protect black people from racism and xenophobia use and checked so this incredible global network of relationships actually allows black folks to go anyplace in the world out and make sure they find places where they be treated with dignity and respect most likely original green book that was targeted or focused on the united states this is a global cook we have basters over $3000.00 of bastions across the world we also have these businesses so remember jen is these these places where black folks can go and be treated with dignity and respect black owned and black friendly a lot of people realize their vision a great book wasn't just black owned businesses from its origins in 103-9060 had problems between 40 to 60 non-black businesses but these were places reply cross

who treated with dignity and respect and be safe if george ploy gone to a place that would instead of accusing him of passing a counterfeit $20.00 bill if he had gone someplace that would say hey don't worry about it george you know chessman next time i've been in restaurants and bars were about to drink too much they didn't call the police they called a chap from and they gave me an opportunity to go and sleep it off and i came back apologized. and that's the type of environment racism is insidious that when things that go on well is what things get a little difficult where you can actually escalate. we want to make sure that there were leveraging technology in our collective relationships to create a route were we all can be safe and benefice what we're doing yeah i know it's a really good point and that there's a lot of armchair pundits who speak or wax poetic way about the evils of racism and then you know as as as as

a famous man once said a. a plan when you go into the boxing ring and so you get punched in the face and mike tyson right so it's all fun and games but then when a riot erupts the ancient rivalries come out you know and all that stuff uses out in print now that as you point out if that's that's what we have to work to get around it so that we can get to stressful times you know so that so the let me move on so the the green book it's funny because under segregation in the united states you know 1st we enslaved by black population then there's segregation and then we we know the black populations poor because they never made any money and so we're going to segregate them be can't come in here we because we know you're poor because we never gave you a job and now with big coin potentially you've got a black population that's going to be the richest population in america and so the

green book is like hey we don't want to go to any any of these dumps we just want to stick to the good stuff you know here's here's your guy to the big coin unable smoothen joints all over the country the green book you know am i right no you're you're right in this summit we're going to have a session. and we do you know i'm not saying i'm a bit one back but i'm not so when i see. a big coup and as a 1st. and as a race a transaction as well as cost we big whiteman he has a lot of promise on. our black watching somebody we think will do that and as we build out this great book we also believe want to create just our financial technology like we think ultimately will be up to wait it's black friendly black. to their customers were people that had. platform experiences where they could do

transactions black friendly businesses using. technology so i think you're absolutely right and that's what liberation. liberation mancipation it's all happening anyway we got to go sadly out with like to chat some more but anyway some class going to thanks for being on the kaiser report now thank you so much god bless. thank you. ok well that's going to do it for this edition of the kaiser report with me max kaiser and stays here i would like to thank our guests sinclair skinner of black black jane summit dot com if you want to get in touch with us on twitter it's guys are important the next time by a. a

new gold rush is underway in ghana thousands of ill equipped workers are flocking to the gold fields hoping to strike it rich here is a good. day. children are torn between gold and education a family was very poor guy.