1st offense to. bill is that they just stop going through. is the 3 main thing all my little mind they the boy they have this is the this is for me. they like it when they. don't see it or know maybe they'll get a make or. break free pasta. now or. one else truths seem wrong why don't we all just don't hold. any cute little bitty yet to shape our disdain comes to educate and in games from an equals betrayal. when so many find themselves worlds apart we choose to look

for common ground. max kaiser this is the kaiser report yeah everybody's gaslighting everybody corporations are gaslighting here central banks are gaslighting you fear understand what gaslighting is you know that it's not pleasant it's rude it's downright rude. yeah you know how everybody gets triggered at the slightest slight at the slightest bad word on twitter people get triggered and you must be platform to kick it out of your job like this this notion of hiding bad things like the the business cycle goes up and then it goes down we don't like down anymore so we've tried to banish

it and make it disappear the same thing with much of our all the chemicals and efficiency you know all the corn we produce based on efficiency and by removing all the protein from it there's all these costs that add up in the end but we just pretend not to look at it we just look at the positive side right don't be such a negative downer look at all the corn we have because of our efficiency gains were so efficient where the best producers the scene with our plastics we produce all these plastics because we have a giant you know oil and gas industry globally and well you know what they're making a lot of profit from making plastics we're going to get to the plastics that but i 1st i want to talk about our financial system so the fact that we just keep on trying to hide the costs of of what we produce all these bad business cycles that naturally happen we go down we decline people become inefficient and this creates

efficiency and capitalism but we don't want this to happen anymore because we don't want the feds friends to suffer so we've had this situation where the fed keeps on building up its balance sheet but. also trying to encourage participants in the economy to imbibe and ingest and eat essentially all that so here is proof of this in terms of the junk bond market what the fed did by basically false advertising what they were doing the fed bought no bond e.t.f. none 0 zilch in august e.t.f. holdings actually fell pot almost no corporate bonds the fed started buying corporate bond e.t.f. for the 1st time ever in may and corporate bonds for the 1st time ever in june these programs have been ballyhooed with enormous fan fare in the media that the fed would load up a special purpose vehicles with $750000000000.00 of corporate bonds and bond e.t.f. including junk bond e.t.f. these preannouncements announcements and announcements of expansions of prior announcements triggered the biggest corporate bond bubble in jump on bubble in

history before the fed even started buying so we are to therefore assume that there will be a reversal of those when the law is exposed to it was a lie they say they're going to buy all this stuff people from iran right now they're saying well actually we just live here we're gaslighting you and so i guess that's going to now reverse it will probably reverse we're going to go into that where they actually did not step forward and they have not been buying junk bonds despite all their claims publicly you know a lot of things are clean with publicly by special interest groups lobbyist groups they create ads slick ads for television to tell you to consume this dangerous product and it makes you feel good and blah blah blah well that seems to be what the fed has done and what they've with they're doing is trying to and has you say gaslight their gaslighting the population into thinking what is bad is actually good this is good for you you're recycling all this bad debt you're eating the costs you're eating the toxic risk that you thought you know the fed trained you to

think that they're going to buy this the toxic waste off of you but in fact they're not they're numerous me and world war 2 right they have the war bonds. yes they got the public to help finance the war by buying gulf war bonds they were paying last then you could get it somewhere else you know you're making a sacrifice the war this is like a different situation they want the public to make sacrifices for headphones they want the public to make sacrifices for the ultra billionaires for the continuing errors they want the public to make sacrifices for the continuation of an economic model that many would describe including my soft as interest rate apartheid if you're not part of the fed you live in a bantustan of high interest rates they want everyone in the community in the country in the world to sacrifice you know in a war against everyone in the community so instead of supporting a war against evil or war against fascism they want you to not buy or buy depending

on whatever gaslighting message they're putting out at any given moment to support their very individual interests this is a repudiation of anything anyone ever died for in any war ever fought by americans over the past 200 years this is repugnant this is repay sia's. nonsense that is unchecked intern economy and in a country that works on checks and balances that's what makes the country work but the fed is on check and on balance it's a road out of control institution that's being. a new gaping hole in this car of our republic usually how advertisers sell junk to you and they encourage you to think getting this product is going to make you rich it's going to make you sexy all the

women all the men everybody's going to love you they're going to be jealous of you and that's why people buy this product here people they listen to what the fed and they thought i was i'm joe baca donuts but the robin hood app and i think i understand the fed's going to buy this stuff for me at a profit for me so bond prices surge and yields plunge an e.t.f. soared and jump on sword in the yields plunge and jump on the e.t.f. sword as everyone was trying to fund the fed's massive purchases so the fed accomplishes handywork creating a bond problem bailing out ask the holders are in the worst economy of a lifetime mostly by job owning and actually bought very small amounts of bonds bond e.t.f. during july it really just dabbled in them how do you know the war bonds people made sacrifices not because they were greedy was the opposite they're willing to put their greed aside for the greater good here the fed is gaslighting people by saying your agreed will help you get rich but it's a bait and switch and they're giving them poisoned chalice and they're actually

bankrupting individuals who do end up making a sacrifice on the wittingly for the hedge fund managers who like to go out and buy very expensive apartments on park avenue this is to continue in the world war 2 analogy not on like when the doctors decided to counterfeit the english out on the english money right this is money counterfeiting to destroy the money to destroy a country and is anyone talking about on the campaign trail either party absolutely no it's not a problem we're going to find out very quickly using this paradigm of how they sell you with their words and the notion that they're going to do good by destroying evil destroying the evil down. destroying the evil bad debts we can make this all go away together let's sacrifice them by these things together we're going to make it disappear the same thing has happened in the recycling sector now this is a great way to signal your virtue. put your blue you know container outside that

your recycler you recycle and you do you help the environment no matter what like your lifestyle like you know you you recycle and therefore it absolves you of your sins that you have committed in the act of of participating in this and the pollution all around you whether it's like the corn that has destroyed the gulf of mexico for example with all the pollutants that has gone down there in order to create the efficiency or the obesity also caused by all that corn the excess corn corn syrup and now we're turning to plastics well it turns out that this was a decades long ad campaign and propaganda campaign which convinced the american people that you could be better than the rest of the world by using our products our plastics and but recycling it you're a good person well how big oil misled the public into believing plastic would be cycled in fact less than 10 percent of all plastics are ever recycled because they

can't be recycled despite the fact they have a recycling a few products here plastic thing you know it all says recycle and don't show the actual brand but it just says here at this recycling. out there it is the triangle with the arrows on it yes. you can actually this these will go in the garbage that's the recycling guys that your taxes your local taxes go to pay for to collect it separately all of it will go to the garbage it'll just go to the landfill anyway the reason is because it's it can't be recycled it doesn't make any sense economic or and just like fracking is more we want energy in than what it produces so it's just even easier to just make new plastics also you can only recycle even the things the 10 percent that can be recycled it can only be recycled once perhaps twice and then there. isn't disintegrates so the notion of recycling plastics has

been it was a propaganda campaign concocted back in the seventy's remember when the boomers were young like they were the age of the millennial at this time and they cared about the environment member there was a big environmental movement and they didn't want to cause harm to the environment but they were causing harm to the environment knew what big oil and big petro chemical did was they came up with this campaign to say we will recycle it but it was bogus from the start and all this n.p.r. investigation finds that they were writing this just like big tobacco all of these companies that are causing harm they know they're causing it but they just need to convince the people that you know sell it to them as that you're a good person if you if you do this and everybody in the world will think you're the best they were gaslighting us with this fake news that recycling was a real thing but it was just a p.r. stunt like those ads work doctors are smoking cigarettes they smoke cigarettes for their health yeah or any in innumerable mis information campaigns by madison

avenue marrying big business to cause tremendous economic harm and of course the lessons learned by financialization i came during the eighty's a decade later were then picked up and so the central bank is really the energy industry writ large but there are pollutants called money and they keep telling people about well we're going to recycle this money into the economy but we know from looking at the chart that tracks the money velocity that they it's impossible to recycle the fed pollution it just sticks on the toxic waste dump so citibank j.p. morgan wells fargo and other banks around the world it's a stink and toxic dump of risk that is emanating more risk and disenfranchising millennialism gens 8 who are now openly in revolt because of this corporate banking credo that no law is too big a one. where they learned that hum i wonder who came up with that piece of

propaganda was it global so that's right you're taking after the main propagandist ready to get america thanks buddy these all go hand in hand together it's the fabric of the economy and financial system around us based on debt debt money so you have to keep on growing the debt and how do you keep on growing the debt you have to keep on recycling these lies that you know you keep on building debt that debt doesn't matter the debt has no cost the government can have as much debt as possible you can have as much debt as possible as well we had at the top of the of this episode we're talking about the fed and there's 0 percent interest rate and there's no cost to all of this and and buying up all these junk bonds and encouraging ordinary investors to buy junk bonds in order to front run the fed because they'll look sexy doing that well they same thing they you know you have this misallocation of capital you have it in fracking you have the 0 percent interest rates nobody makes money in fact in even a 0 percent interest rates but they keep on doing and like all of these things are just like you keep on doing these useless exercises right net of costs there's no

money in any energy industry there's no money in the software industry there's no money in the paper industry the team industry the metals industry there is no money in any of these industries if it's all financed by 0 percent and negative interest rates negative interest rates means they are connally's dead and dying and should be buried and should be thrown and it's gone scrappy there's nothing that's making money with negative rights and that's where we are global negative rights we have all basically the only thing left is that. extraterrestrial intelligence comes and tries to buy our planet and i don't think they're going to get more than $0.02 on the dollar for this dusty if well we're going to take a break and when we come back much more coming your way. but the fundamental no certainly no borders that is a lot. nationalities. has

emerged with the we don't look like seeing the whole world peace to be the chief. judge of 2 this commentary crisis with this system something. we can do better we should be. everyone is contributing each or own way but we also know that this crisis will not go on forever the challenges create the response has been masked so many good people are helping us. it makes us feel very proud that we are in it together. is your media a reflection of reality. in

a world transformed. what will make you feel safe. isolation for community. are you going the right way or are you being led to. direct. what is true what's his fate. in the world corrupted you need to descend. to join us in the depths. or remain in the shallowness. welcome back to the kaiser report i'm max kaiser yeah i'm loving this radio my cow

look and good to have time to pick it up part to it have you with michael plant. port dot com michael welcome back mia back on your program you know we literally left it on a cliffhanger the last interview the fiscal cliff the fiscal cliff hanger tell us more about the fiscal cliff hanger michael ponto it sounds exciting it well it's not very exciting if you're you know up by in a holder of the stock market in a diversified 6040 portfolio like wall street likes their review to the slaughterhouse precisely because both bonds and stocks are in a massive bubble 1st of all the stock market right now is at a 100 the value of all stocks are i don't 180 percent of g.d.p. and if you want to put that metric into perspective it was a 150 percent at the apex of the march 2000 tech bubble just before the nasdaq lost

83 percent of its value over the next 2 years so we're a midst of a bubble and both 'd stocks and bonds 15 trillion dollars worth of bonds around the world are less than 0 and by the way he economy this is a terrible car it sucks ok maybe not us economy right now is not at all representative of what the stock market is trying to portray so if you look at if you listen on thursday morning and try to find out you know is the economy healing are we in this xilinx v. shaped recovery that our president is trying to convince you of well we're we learn finally gee in the stock market we seen an arrestee but what about the economy so you learn not not to see m.b.a.'s you learn from the department of labor if you. read the entire release which i do every thursday that there's 29600000 people collecting some form of unemployment insurance then another max leslie's

number was an increase of over 1000000 from the previous week's number ok so we are increasing the number of people when you include pandemic unemployment assistance we are increasing the number of people who are on the government dole for continuing jobless claims you also look at the economy in this lake there's 155000 businesses that have completely closed their doors about 195100000 of them have done so were minutely in the hundreds upon hundreds of thousands more have seen a sharp reduction in revenue and earnings that is why there are so many people laid off and that's why the stores from this rouhani china virus are going to be with us for a very long time even if we get

a vaccine that's approved during emergency use authorization on november 1st ok the virus will be with us unfortunately for a very very long so. this is why i am very concerned about not only the fiscal cliff and the monetary cliff also the underlying economy is shortening mightily but you don't see it reflected in the stock market precisely because we have borrowed 3.3 trillion dollars in fiscal 2020 and all of it was monetize or virtually all of it 3 trillion of it was monetized by the central bank of the united states with alacrity and that helicopter money was given out to people to buy stocks all of that is gone there is no more helicopter money this balance sheet is decreasing it has shrunk. why on $100000000000.00 in the last month so was up 3 trillion in a less 6 months but is down $100000000000.00 in the last few weeks that is

a massive fiscal and monetary cliff that wall street and wall street has already gone over when i hear the story about they had a soft bank who took a huge loss with as we work and vestment gaming the options market to such an extent where he is inflating the n.o.i. in tech stocks by engaging in what is called a gamma squeeze in terms of the options forcing the specialist to buy stock and meant wholesale manipulation in these markets and by any made billions of dollars in this manipulation scheme where were the regulators michael are there any regulators working today is the f.c.c. is that there are those yes you see that what happened i often ask myself that you know when when the day before or. was a major has a vaccine announcement that the trading day before their volume explodes the

options explode call call one of your rooms explode and start fresh foods up and you know who wouldn't is it you just this maybe is a coincidence max but i even deeper than that you know i did we do have regulators that are working but the rest the regulators are working against the middle class. for example let's talk about one of the big regulators is the federal reserve is supposed to be a regulator of the banks designed to great. what made them decide that age 2. percent annualized p.c. and inflation rate was necessary for the american middle class the function. well i want to ask you can you chime in on this is what is the real reason the rationale that we need to have an inflation rate that's it we students you want to hear percent for many many years to equal the amount of hearers that it was below 2 percent for the duration there was

a lot to me that's the regulators talking max because the regulators believe that they serve the same purpose as priests in the old catholic church of medieval days and they're discussing how many angels can dance on the head of a pin as the modus operandi they justify their outsized salaries and positions in society in tall the reformation comes so the reformation is coming in the form of street protests and social unrest and violence and that will be the end of the central bankers they're pushing the limits to how much lot how much they can lie but anyway let me let me ask you to put your journalist cap on for a 2nd to give us a good sense of what's happening on a street in the tri state area where you hearing from manhattan real estate that when i'm hearing businesses are shut down it's like a wasteland crime is up is that true it is true you know it's almost the wild west i'm waiting for you know white or his nose out of wall street i mean you look around and there's record number of shootings people are getting shot every day in

manhattan you know it's just unbelievable the streets are desolate and because you know you can't you have admin and white english man you want to see a show and then you want to go out to dinner you want to go visit a museum and you know you can't go to a show any longer get a broadway show and you can't heat inside unless it's you know i think they're allowed 25 percent of what's your story get started here jersey i'm not sure it's in manhattan yet but 25 percent a restaurant can't function. being open to 25 percent but you don't even want to go to this restaurant if you can make it there because every street corner has this protest where. you know you remember the old protests by wall street well it's everywhere across manhattan you have to step over the homeless people to get to them but they're everywhere across manhattan and if they don't pull you out of your core and beat you well don't you think you're going to reach over enjoy a nice dinner anyway so ms is in much worse shape you know situation then it was

right after 911 and you know by the way you speak your mind 11 is very solemn time i'm sure is for you and she sure is for me where our thoughts and prayers go out to all those people. and that's it we share that sentiment and you know it's been to become a reality show that's all too real it's like replaying the 1970 s. when i was living in manhattan we had 3000 murders a year and it was a freak show and but you know sometimes that's what you got to return to the roots of manhattan and new york are in the freak them of what it is to be a new yorker now it all but it was a lot less risky mr de blasio is is neck and neck running for the worst mayor of any city on the planet he's hated and so i remember a beam was a mayor i believe during the time of the me is this supposed distance corporation or mack bonds that were felix rohatyn put together to bail out manhattan and it was

the rise of donald trump he took advantage of those of those times more than anybody else as a developer coming in from queens to manhattan and that was the beginning of the rebirth some would call it in the financial ization of wall street so you're saying all these things are closed down restaurants are closed down does that mean that michael pent is at home doing a lot of his own cooking i am an excellent cook and you know if you're in states you're ever around the new jersey area i'd like to make you a nice only town dinner some of these italian dishes what is your favorite to prepare you know that's my 1st. ok so i made if you like a rabbit i make it can nearly a sauce which will blow your mind but of course you know if you want threshold is one of my favorites to meet the best me balls and homemade pizza to run lives become a cooking show very very very well because i do a lot of quito baking so we could put together we could put

a fantastic meal of italian main courses with like a kid out cheesecake for dessert and i can make like a kito cheesecake with her cottage cheese also what you kind of in that italian theme and we could put a blockbuster meal together i really don't believe you were safe says eat any of that because you're in such terrific shape oh this is the most exciting thing so far in 2020 is the prospect of doing the. michael pantomime acts kaiser combined cooking meal we got to wrap it up though so let me ask you a couple of questions and getting back to the subject at hand. you are positioning yourself in the last few months of 2020 are you already got a nice gain in there for 2020 are you counting in defense of now to lock in that game or are you going to try to squeeze out a few more percentage points and being a bit more aggressive on your money management business so between now and the election i mean 3 things utilities precious metals and short was action and i plan

on holding them in till the election or there's some massive fiscal package passed in d.c. it out you know just on that note you know the republicans wanted the skinny package so he's been consequence of the senate floor he couldn't even pass his own skinny deal with republicans so you know the heroes that wants 3 point i think it's $3.00 trillion dollars the republicans want somebody much less and they can't even get into the senate so and chances are of any misses fiscal rescue package coming on the heels of the other 4 they passed this year are slim and none so i'm probably going to say very defensively until we get a new election and then the election is going to be the most chaotic. period of time around the election we ever see in this country. in my opinion at least in my lifetime that i've ever been you know what was the election night fair enough michael pant out thanks so much for being on kaiser report my pleasure all right that's going to do it for this edition of the kaiser reporter with me max kaiser

and stacy i would like to thank our guest chef michael plante of tanto port dot com and rotisserie if you like to get in touch with us tweet us at various twitter handles and until next time by ya know. theory mechanisms plasticity that enable stretch to get under the skin and to have any negative effect on our mind in our body those same very mechanisms can be harnessed for the good so for the most resilient to remove flourish.

in. the e.u. for jumping to conclusions with little regard for the truth for european lawmakers passed a resolution 1st sanctions on russia alleging that there was a clear assassination attempt against the opposition figurehead alexina valmy. developing in self is claiming on social media he was poisoned in his hotel room in the siberian city appalled we will assess high possible but it could have be. a new twist in a decades long saga between russia and poland and the polish presidential plane crush in 2010 over western russia as moscow ruled extraditing the earth traffic control.