that's why we've got inflation raging that's your smoking gun and the story thank you it's been great have a great life no kidding as i said the rand corporation had revealed through daniel ellsberg the the sacrifice of all the young people that the then you know boomers were being sacrificed in the vietnam war for a point for no reason and the same here is basically their data showing that generation z. and the younger malani ells have also been sacrificed to this you know this this war on wealth that can't be won and here's what they say about the actual data so remember this when you see people the conflicts going on right now between boomers and you know they're the winners of the situation and they call people deplorable for wanting to make america great again the data actually shows that america was great before it was better for a certain class of people i.e. the bottom 99 percent it wasn't as great for the top one percent back then this is

not some back of the napkin approximation according to a groundbreaking new working paper by carcassi price catherine edwards of the rand corporation have the more equitable income distributions of the 3 decades following world war 2945 through 1974 really held steady the aggregate annual income of americans earning below the 90th percentile would have been $2.00 trillion dollars higher in the year 2018 alone this is an amount equal to nearly 12 percent of g.d.p. enough to more than double median income enough to pay every single american in the bottom 9 deciles an additional $1144.00 a month every month every single year see the jamison of the scam perpetrated by wall street and the likes of warren buffett and the people over a black rock and all the private equity firms and j.p. morgan and jamie diamond and all the global banks is that they take advantage of compound interest in a way that makes them multi 100 billionaires because it doesn't take my. much in

terms of a percentage increase to realize extraordinary gains the difference between compound and your money let's say point 01 percent which is available to the vast majority of those who are not friends of goldman sachs and compound your money at 20 percent as warren buffett does or 22 percent is the difference between having let's say a few $100000000000.00 or a few $100000000.00 or even a few $1000000.00 here name and having as in the case of jeff bezos that over 200000000000 that's it's a small percentage gain but over 1020 years you know it's the old analogy if you start off crossing the ocean if you set your compass even one degree difference you'll end up in a very very very different place that's the magic of compound interest and it's subtle and it's insidious and most people don't see it but they do see their poverty and now we've got the smoking gun the 50 trillion dollars was stolen from him that's it that's the using all the techniques have been talked about here for

10 years this is now the conclusion this is the ultimate kaiser report stat this is now everyone naysayer and those who have questioned our approach they can accept your apologies if i accept them i guess you might say we're kind of leaking this rand report where the daniel ellsberg of the financial world because nobody else is reporting on the 2nd this isn't on line and time magazine but we're reporting it on the news to explain the situation we coined that phrase cantillon air we being max coined that phrase can tell you and this kind of explains it i also want to point out that you know america you speak way back in the seventy's we had this thing called the mimeograph and you know it was a very reliable was messy and dirty but it was reliable no matter what lake you get in call over you but you could make a copy of a piece of paper here like with all these high tech gadgets we now have how. at the

time they don't work so my printer i could not get to work that's why i have my laptop here set unlike usual times but i'm just saying like america used to have great mimeographs very back to movie a graph but you know with that i have something else to say about this is that what they're saying when they look at the data from. people back in the seventy's and compare it to today is even when they're looking at the bottom percentiles they're comparing the wages is there actually working more hours they're not even counting that they're just counting the they're over always in the year so their wages this situation is actually worse than the 50 trillion if you count the fact that they're actually having to spend more time working how we we ported on this without the benefit of the rand corporation's multitude of analysts crunching the numbers is looking at some very obvious anomalies for example all companies buying back their own stock like apple something that used to be illegal up until the reagan years b.

province reasons it's immoral it's unethical and it's to wildly distorting we simply ok here's now a 2 trillion dollar company their stock has float has shrunk they've bought back their own stock multiply this time certain number of s. and p. 500 there's a few trillion right there of that 50 trillion that's been stolen you take the lehman brothers repo scandal recall one o 5 or 4 or 5 where they were playing whack a mole with regulators in terms of how they were reporting their earnings that was good for a few 1000000000 dollars ok we can say pretty was a great deal certainly that this is the practice used by the multitude of s. and p. $500.00 companies there's another couple of trillion dollars so all these scams individual either all worth to a trillion or 2 and only add a ball up to put 50 trillion dollars so this number i think use pretty closely to what we've been reporting on for the last 10 years because every single one of these scams from wall street corporate america the s. and p. 500 all the big 4 accounting firms what a joke and here i work at

a big 4 accounting firm but i didn't see 50 trillion dollars go out the door missing how could that have happened how could that have happened big 4 accounting firms. oh all right well if the actual system itself and rand corporation is part of that system in the system as a fee based system then the fed can print money only for bankers and they hand the money to bankers on this and it doesn't trickle down that's the problem with this system it creates cantillon errors and can tell us come at the expense of everybody else and so as the can tell you start to compete against each other for how many can tell us they have you know they have to take it from the bottom that doesn't ever trickle down and also you have a system but the rest of the system you have an i.r.s. that only prosecutes and goes after people are running under $100000.00 a year because they said just this year that they said they can't go after people who have too much money because their they have better lawyers so it's not worth it for them they don't get anything back so like everything everything the whole

entire fabric of our economy and our financial system our fiscal system our government system our central banking system are all rigged against the bottom 99 percent and here it is rigged in favor of the one percent and i'm going to show you another headline that's been happening and this deal this detail was came out of a september 8th filing from the fed so unsanitized the fed is overpaying banks and hedge funds for corporate bonds so the fed was authorized by congress as you know just recently the main street lending program to lend to small and medium sized enterprises throughout this code to keep them in business right 99.8 percent of the funding is left on tapped at this point and why well because the fed can deal with stinky peasants that right they only deal with the banks and the banks therefore have to issue these loans they have to dispense these loans so the banks do take on a very very very tiny risk but for the presence that's just way too much like the

small medium sized enterprises and the sort of a commie not going to survive right so the banks don't even want to take a one percent risk even though they'll be paid back eventually no matter what they could always dump their toxic debts and bad. as for the fed they won't they won't lend it so therefore the main street lending program is not being used because nobody wants to help the ordinary person because they know as the rulers of the system that there is no chance ever for these companies to survive or for this to get better without it being resolved in another way by the generations e a millennial is taking back control so americans for financial reform ferreted out this information in a criminally understood discussed revelation the fed reports its corporate bond purchases and loans under the carer's act to congress the most recent one came out september 8th if you go to the trade level data for bond purchases you see this very clearly there's a par value a market rate for the bond purchases the fed is making it is paying more than par

with virtually every purchase it bought the marble and jewel people bonds at 109.9 percent a bought columbia pipeline group at 116.7 percent it bought principal financial group at 112 percent all but a very few hundreds of purchases totaling tens of billions of dollars are made above par on average the price is 107 percent so yeah the money for it to go better they just throw money at there and demand nothing in return and that the main street lending program which is funded by the congress they won't lend it out because they can they're not sure if these joe baca donuts with his little coffee shop is really worth investing in right believe time you see. buyers purchasing items above market price is with. in a mafia scam to launder money you know to discuss the this is money laundering yes essentially the it's a classic money laundering it conforms to the basics of money laundering if and in

a court of law this went to jury they would be convicted for money laundering and i quickly i know we're running over time but i do want to say that critically the fed isn't buying response directly but on the 2nd do. market so when they overpay they're lining the pockets of the investors in corporate bonds like hedge funds and institutional investors like pimco big banks who handle transactions as the primary dealers and corporate bonds also make out blackrock the asset manager giant that manages these purchases on the behalf of the fed is likely getting a taste a century everyone on wall street is getting rich from the fed over paying for bonds right it's one of the again we've been saying it and it resulted in 50 trillion dollars of missing money ok take a break and when we come back much more coming your way. we are segregated. by social class lower middle class people also in poverty by 1st place if you're born into a poor family if you're born into

a minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years younger if you're born into generational poverty. it's a. fight every day to meet your needs and the needs of your family. seem wrong. just don't hold. any new role yet to shape out disdain become educated and in the game equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

cash calendar is downright alfonzo any longer and there's changing paid change dard serve our. whose 1st words were at allowing a c. or a challenging post you've got 2 years to live. i have no doubt that what happened was criminal. offense concentrate market is a $1000000000.00 industry these companies have a huge financial motivation to sow these problems there are numerous stocks showing that doctors were keen to test facts right concentrates for their effects and it's one that patients want gives them says the wrong stoplight long term post on why they would get me to secure those years. on people is to die and i'm always

question or so i tried being hard to live where so many have. their own beds or to. go behind or to feel good but such. an arguer. of it is that it's. just a pretty good measure did. you see mathematics move. to nominate the fish you know not just go from home in israel. they are the house of in. god since we. need. this kid who in the.

prison system definition of. ministers in the news. time after time called parisian to repeat the same mantra sustainability very important. transitions to sustainable prize board sustainability spain overmanned out the more equitable and sustainable world. they claim their production is completely harmless followed to sneak. into compass numbers and time it into something companies want us to feel good about buying their products while the damage is being done far away and this is something all of this must be done even and i need much of. this is the mood stimulus and we didn't even an einstein theme that may be based on that understood look forward to going into.

welcome back to the kaiser report i'm max keyser time now to turn to part 2 of our interview with michael saylor he's the c.e.o. of micro strategy a racially swap 425000000 dollars dirty feet money for what is it 38250 bitcoin michael welcome back thanks max set a follow up on the sol discussion of inflation and what you do with a big cash position and the possibility of gold as an alternative you said that big cowen is harder then goal you know when you think about. gold you realize they're going to they're going to meant 2 percent more of it or mine 2 percent more of it under the status quo if the price of gold goes up the miners are going to make out on vestments expand their capacity and mine more if the price

goes way up the expand their capacity keep mining when the price goes down they've got to count on vestment locked irrational and keep mining so you under the best case you're looking at 2 to 3 percent inflation of gold if you look out over 100 years that means you start with $100000000.00 worth of gold and when with 12 candid 12000000 dollars worth of gold so you can lose 90 percent of your value in gold over 100 years and if you factor in counter party risk the fact that the bank might fail or the government might seize the gold both of which of happened over the last 100 years the best case is you lose 90 percent of your wealth and gold and the worst case is you lose it all and so gold is in and early inflationary coins fully diluted bitcoin counts 21000000 which means that once you understand that you don't lose in anything and and there's nothing else like it so you know my analogy

would be if you had a 100000000 dollars and you wanted to wanted to go a 100 years and you put theocracy. best case is you lose 99 percent of your money and worst case is you put your money in a country in a bank that fails and you lose it all and it's like when you point lost it all if you had your money in germany or japan or france 100 years ago if you put your $100000000.00 into gold you can lose 90 percent of it best case maybe lose 95 percent or all of the worst case. you put your money in decline you're not losing your money it's like crossing the atlantic in a rubber raft with a leak in it that's fear not crossing the atlantic in a wooden ship that's gold or across the atlantic in a steel hold container ship that's because it's pretty obvious what you would do if you had a choice so best case scenario you listen to percent purchasing power with gold as it is and you have the possible or tail risk that huge gold is found or asteroid us founder ocean gold mining has discovered and there is

a you know risk on the outside with pickle and why not take that purchasing power istana 0 effectively is what you're saying and so it's harder in that sense then gold now you know you said recently on the anthony papa be honest pot podcast the pop cast our good friend over there that you mentioned the toxic big clink humanity actually helped you get on the big coin can you talk about this a little bit i think there's always giving you suggestions of you know they'll send me articles they'll send me any cites if i mention anything though and they'll lead you to a better answer a better insight into the security of the network into the into the technology of the network you know i think that if you look at the big korean community it's a bunch of a bunch of people all joined together with

a common goal which is to create something that's lasting you know. immortal sovereign. is value in order to achieve what it is you want to achieve with your life whatever your values are if you look at the traditional media. you know they they tend to be just as negative as they are causative and since everyone has has divergent values and diversion portfolios they're not really working together to accomplish i think constructive as much as they're shredding each other or tearing each other down much of the time there is a free soul that counsels competition and it's they survival of the fittest it's darwinian it's a everyone trying everything and seeing which one works that on that score you recently tweeted the chart about bitcoin dominance being at 93 percent not what commonly is quoted as the 62 or 63 percent because you're saying look we got to strip out everything but the proof of war coins these other projects are crypto

applications they're not the same ballpark you also mention a network a fact and play for pick calling where it's once a chief 100000000000 dollar value asian or more it is cheese escape velocity if you well and it's the winner in as a runaway freight train at that point so you're you did look at these other coins including a ferry m. and the conclusion was now it's kind of silly to say the big corn is only 60 percent of the market because you're throwing in like like feel tokens like heather or serco that's kind of like saying apple computer is only 5 percent of the market because there's hundreds of billions of dollars worth of cash and bonds floating around or is just as silly as saying that air b.n. b. is 4 percent of the mobile network market because google and facebook and amazon and apple have mobile apps right i mean and at the end of the day

a theory on this is a different type of application of network on crypto. and it's totally unsuitable as a store of value you want to proof you want your network were committed to proof of work so if you look at some that were committed to proof of work it's because i'm declaring cash decor naseby and of course the 1st one's 50 times better bigger than the 2nd one was you know why would you even consider going to something which is 2 percent or one percent of the size of the dominant player and it's more confusing anything else a tether puts $100000000000.00 of kether coin on a network that's not going to have any impact on the dominance of bitcoin one where the other it's transcendental thing about it is this community but i've been in this community now for almost 10 years you're the 1st actual all c.e.o. with the whole boardroom full of lawyers and board members to do a lot of due diligence and take all these considerations on board do the analysis

crunch the numbers and come up to this conclusion you know this is the professionalization suddenly of this industry just became real and i think we're going to see a lot of the marginal projects kind of fade away to 0 let me ask you a question purely as a data geek which i sounds like you are being in the data business day pass rate of decline is over 150 quintillion calculations per 2nd when you look at that number does it kind of what does it do to your brain it does is that it's the biggest fastest meanest network ever. put out the perspective i went to bt c dot com security page and it showed how the difficulty adjustment gone out from one to 17.3 trillion or something and it showed the hasher

a going to 13540 x. a half whatever i thought it was such a thing of beauty i had to stop myself from tweeting to everybody isn't this the most beautiful table you've ever seed in your entire life i doubt they think i'm crazy but you know what i look at it what i think is maybe if we're marketers we would stop calling it difficulty adjustment and we would just call security and x. and we would say that it's 17 trillion times more secure than it was when we started and we might divide that security index into the other competing now or x. and then people would realize that this thing as a 1000000 times more secure than the other thing and that that's just extraordinary and that's what makes this buy that's that's why i think the crypt the big point community is anti-fragile the miners are making such of a g. and vestments all the time to make the network better stronger and faster it's just a wall of it's not a wall of electricity it's

a wall of encrypted electricity because you're running the electricity through the s h a 256 algorithm and the fact that it's unique the a 6 year neat the algorithm is unique the electricity is monstrous those 3 things together creating ensor man nearly insurmountable not insurmountable wall for anybody that might want to screw it that i love that it's beautiful so gold is roughly a 8 or 9 trillion dollars market cap because having around the $200000000000.00 while there will we see a parity between these 2 and if it's harder than galled will way it will of exceed parity you know max i thought of buying about spending half my cash. golden half my cash in bitcoin and then i thought that's credible foolish trade because bitcoin is going to eat gold as a store of value technology is acid you know and then surely if you can deem materialize gold into virtual gold which is what they point is all of the energy in

the physical gold is going to drain into the virtual gold would be like go will be like black berry was to apple computer you know and we used to use it people talked about it and you can't find him anywhere except in people's drawers anymore everything you're saying being in this community my son for 9 years that echoes so much of that work and you mention a safe dana misses book the bitcoin standard you've been talking about it you read it it had an impact on you we've done saved and for 15 years and when the book came out i was gobsmacked this is like the rosetta stone of this whole industry it just is so perfect and but if in fact a year or wave of thinking goes into the c.e.o. suites around the world that right there is an awful lot of demand for a bit coy now also you've tweeted recently and i kind of what you were just saying there about the beauty of the technology and the aesthetic of it which i think is

under rated and not talked about enough but you also mentioned and we have about a minute or so you mentioned. and i'm not going to a tongue in cheek oh what have you but it was you mentioned about the this project being alive to some degree. is that pure metaphorical or is that just. an appreciation. it's like i cyber ice a swarm of cyber hornets and serving the goddess of wisdom you know fired up by truth and getting getting ever stronger harder and. aster and i wasn't being metaphorical i mean i could talk about it for hours you don't have the point is it's not just harder than gold because it's never going to debase is harder than gold because people keep improving the protocol improving the mining

rakes they keep making it harder and better and faster and stronger every day rolls not doing that and most other software doesn't do that it is truly anti-fragile all right michael saylor thanks for being on the kaiser park thanks for having max that's going to do it for this edition of the kaiser in part what's made max kaiser and state fair but i think our guest michael saylor of micro strategy until next time by a. cash cow and he's drawing alfonzo along during his darned has chosen to change guard so the old guard. his 1st words were had a lot of us here a challenging post you've got to use to. i

have no doubt that was happened was scriven. let's concentrate mock it is a $1000000000.00 industry these companies have assume huge financial motivations to solve these problems there are numerous talking showing that doctors who are keen to test facts are a concentrates for the insights of its own that patients won't give them doctors the wrong place to play golf. or stuff why they would keep me consecutive doses day . and people still talk i'm always question or so i've already being around. to live where so many have. time after time called parisian to repeat the same mantra sustainability it's very important to excel or

a transition to sustainable transport sustainability explainable amana a more equitable and sustainable well. they claim their production is completely harmless. lovely. because the models and got it into something companies want us to feel good about buying their products while the damage is being done far away and this is again i'll just as deep into anyone's i mean look. this is the mood in the us and we didn't even and i'm stunned seen them in the best understood look to going in the. same wrong. role just don't all. get to shape out just to become educated and engaged equals betrayal.

when so many find themselves worlds apart. just to look for common ground. a military plane crash in eastern ukraine leaves 26 people dead the sole survivor is in a serious but stable condition. hundreds of protesters turn out again in the capital with several early arrests reported the latest demonstration follows an example. this week. president. against medical terrorism the iranian foreign minister speaks to r.t. . the united states restrictions even transferring money.