so much from the future so the fact that we don't have any savings or you know we're all having to issue so much debt is because we don't have the we have a just in time economy we have a. piles and piles of debt that has rolled over and over and over the the extend and pretend thing and what it what we were pretending is that generation z. and millennial would not have to pay for this but they obviously are having to pay for this so i want to continue you know we talk all the time about pos yes quo and i'll read it again when plunder becomes a way of life for a group of men and a society over the course of time they create for themselves a legal system that authorizes that and a moral code that glorifies it so over time they create this and over time this started in 1970 wants of 49 years later next year will be one it will be 50 years since we started on and off at global standard i think kick the can down the road and hope it has revealed the end of the road that yeah that's a good way to put it and i'll show you this headline is like the mines that plunder

is everywhere and everybody does it small business emergency loan program in the u.k. threatens to descend into chaos a gold mine for enterprise and criminals even legitimate borrowers face sky high default rates taxpayers to eat the losses and this is called the u.k.'s bounce back loan program well the point is that you know you have looting at the top 11 looting throughout the economy and governments are trying to rush in these programs but the governments that are rushing in these programs themselves have been perpetrating a massive for fraud i mean that's what it is in terms of the last 20 or 30 years every penalty we've seen applied to all these big banks whether it's the u.k. or the u.s. they got caught red handed committing all kinds of accounting fraud and sun now they're trying their packaged their programs as they understand the. because i

never got put in jail for it so they're thinking about what we were doing this is the right way to do it and so they repackage the same kind of progress but for small to medium enterprises and these guys in the small to medium sized enterprises in the u.k. and in the u.s. they don't have the sophistication of a city top banker you know they're basically thugs so then they it becomes quite ugly doesn't it it's like fagan in the you know in the not the wizard of oz but the oliver twist oliver twist fagan and oliver twist it all look so so insanely so ok well let's go over this whole program what happened in the united kingdom they passed a program called a bounce back loan program and they had to introduce this because a reasonably back in march and april they said ok the government i.e. the taxpayer will cover 80 percent of the loan cost and you the banks issuing because the private banks are the conduit the middleman you the private banks will have to eat the 20 percent you have to take the risk of the 20 percent of us no

bank was willing to loan to the small and medium sized enterprises that was too risky for them they saw ahead they have data on statistics and look at the at that at the case of what happens with a pandemic and they were the honest ones and said no that's a risk of total wipe out for us we're not going to do it so the taxpayer had to bail out they had to offer a 100 percent guarantee for these lines and so at the same time some part of the unit of the government organizing this did say well this is a recipe for fraud and what happened is a whole bunch of elsie's were created a whole bunch of limited liability companies are created out of thin air everybody applied for a loan and they all got it so all of the 58000000000 they're there. and they've lent out to these small and medium sized enterprises mostly to small sized enterprises well all of that they're expecting that it'll be as much as $23.00. a 1000000000 pounds at

a minimum that won't be paid back so the taxpayer will eat that $23000000000.00 pound car so this is a failed government scheme and it goes back to george osborne's by the lets game remember on the. help to buy scheme by george osborne we covered it we said mother loved it he she thought it was a great program his mother loved it and at the time we thought you know this is just going to boost the price of homes because you're injecting all this ersatz money and that'll just actually make the situation won't more make it any easier for people to get homes because the prices go up by the exactly the same amount of the cash or injecting and sure enough that's exactly what happened and it ended up with price bubble and it ended up with a lot of money in the u.k. economy that would have gone into different types of industries and a difference of 5 economy in a robust economy it all goes into housing so now covert hits of the bubble bursts and he suddenly don't have a diversified economy or contingent upon the success of only one industry housing and the banks that made all those loans are terrible shape but that was the

antecedent to this and now covert hits and they're saying ok now what we're going to do is we're going to boost the economy with all these more free money from the government oh by the way that's unfair for a 1000000 different reasons so there is going to make it available to everybody oh that's not going to work because if you give everybody free money then there's no actual fraction of the economy that would be legitimate g.d.p. growth it's all fake so therefore the taxpayers going to have to pay and are going to raise taxes and by the way the government is broken have to increase our money printing as well so it's the it's the flipside of in 2012 was the peak britain of this century of the olympics where they're the queen jumped into the olympics from an from a from a from a helicopter in the same spot james bond you know that was the peak of new britannia pertaining it's been just slip n slide down since then again i don't want to just pick on the u.k. and george osborne's mother did love that i do want to be fair and balanced that there was and the people who got the free money from the taxpayers did love the program as. also they you know anybody who gets free money loves the program but

the problem with this plunder and the problem with the trickle down to remember the pope just said that trickle down doesn't work the trickle down doesn't work because if it's a system of plunder based on it you've got to get everybody to do it so the fact that all this money sat there and only the plunderers only the fraudsters came forward to take these loans you've got to get ordinary citizens to also participate in the plunder because if they're going to plunder you you know everybody has to enjoy the plunder because although that's the system is based on plunder so if you're not plundering then there is no economy and so this is the situation in the u.k. in europe in america all over the place that the ordinary citizen has not participated enough in the plunder like ordinary citizens are sitting in lockdown at home and collecting some unemployment but they should be out participating in these plunder programs because that's the way the system is set up and designed and that is why. almost 50 years later if it makes us to 50 years this system has been plunder all

the way through why should vestment bankers be able to list blank check i.p.o.'s on the stock exchange for billions which give them a lot of tude for almost infinite plunder yet why can't the average mom and pop or in the u.k. and in america list themselves on the exchange as a blank check i know they should be doing 1000000 dollar they should be doing that and that's the problem with our economy right now is they're not participating there too they're trained in all these sort of ideas of morality and you have to be a good you have to pay back your debts and all that sort of stuff look at the way people responded to all of the debts on donald trump's tax returns there. is are and again like i have to say this is they're causing the problem because this is a system based on plunder it is a system of plunder and yet they refuse to participate and that's making the whole thing to sent a great faster because it's causing the wealth and income gap is causing you know. high on steroids. down the road in an s.u.v.

and you know where in this crazy situation because of that but it's just they have started the plunder of time that has happened over the past 50 years of this all fiat's currency system and it's the day of reckoning the bills coming due for somebody remember if you're not actively plundering you are participating in someone else's on their as a tax lost i made that point clear in the last episode with n.b.c. and comcast ok we're going to check your break when we come back much more coming your way. a dark industry comes to life in los angeles every night. dozens of women sells their bodies on the streets many of them under-age. los angeles police reveal

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forum made in the shallows. of the u.s. economy was booming growing numbers of people were made homeless. you can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of the we're not financial ecology and the lack of affordable housing for a living minimum wage gave many people new choice. that's been a problem with the city knows turn to make sure and told me stay away i don't know miss. the food if there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible comes.

that let's just say i just know that the feeling is that all the. people want to make our way why it was a good out of the. clear we hope to be but this year our awesome friend so that the us are skills up at the so you're hoping to do something to see. the child for sure. they value the lack of physical allen lack of alcohol and i was a boy but i'm one of that kid i will look at. my. nuclear powerplants have become a battleground in the us it is our moment. people are demanding the shutdown of

a local plant from my yankee is right now my focus because it's a very dangerous oh no care power plant the owner is attempting to run the reactor beyond its operational limit this case just sort of puts a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy as are power lie with the people this case demonstrates that struggle in very real ways a struggle. welcome back to the kaiser report i'm back faster time now to return to our conversation with this young man as you throw up welcome back thank you max so the 1st part of our discussion in the previous episode we were talking about this virtual reality

meets the reality of today i thought very interesting i wanted to get into some other aspects of this i should mention that you've got a 5 part series out called when the world market itself is fake economic value loses any real meaning i want to talk about some of the economics involved here that we've been subjected to and ben victimized by that would be the private equity model is being deployed against all economies using the fed's free money the sanctuary to do a leveraged buyout of the entire economy where do you see this going what happens when there are no more assets and only liabilities left zits well again i mean i almost wonder where that value is going we know that literally tens of trillions of that are being siphoned into offshore havens taking it out of circulation and being put into these private secret bank accounts now i understand the motivation of that

discrete and i understand the motivation and that is knowing that you are stealing and you only you have to hide stuff that you steal because if people find out about it then you know all is said you might actually have to give it back but again we talked about nihilism what happens when you withdraw currency value assigned value and you basically store it away outside of the economy you impoverish everything and they do that on the micro scale with companies they just borrow money you look at the term itself they used to be called corporate raiders and they did make over to live fish fight then another p.r. make over to private equity yes. rader that's what we're talking about here you go in you saddle them with debt or you borrow money on debt and then you lay it back on the company you just bought you hollow out all of its productive assets oftentimes real estate and so forth and it has happened in every company

practically every company they've tied steely insert they did it even with your executive cleaners and it basically bankrupt the company own once productive value companies for creating doubt quality 'd products they used the reputation they used the information of the momentum of that and then just savage it where is that going to go i don't see it going anywhere except creating essentially a worldwide production bankruptcy and a complete hollowing out of any kind of quality in products except those made on a more local level the film wall street in the 1980 s. the roger stone film i believe was the director oliver stone oliver stone and i said roger staats he's getting in the ad business now. and so this was the gordon gekko the corporate raider and doing the leveraged buyouts and his speech about how the shareholders rule and you know we can never do the pension funds and get rid of labor now this this this film was used as a textbook for 2 generations of corporate raiders and the size of these private

equity as you point out it's a reprint of corporate raiding as not into the chileans of dollars and they private equity firms are you know a trillion dollars in size black rock is worth over a trillion dollars warren buffet's firm is worth $5600000000000.00 it's a good it's essentially a friendly corporator firm and as you point out trillions of that value gets spirited away into these offshore black holes and never seen again and you know it's really amazing to me this is if you got the central bankers like jerome powell will testify before congress that he has no reason that idea why when he prints trillions of dollars the money philosophy that is the chart that shows how. how fast money is circulating through the economy he has no idea why the money of loss is crashing he just keeps printing and as you point out and others point out and others you've looked at the big 4 accounting firms who enable this to happen it's quite obvious you can find $25.00 to $30.00 trillion dollars that's now offshore

that's been stolen by private equity and such your own pastoral powell is he just a useful idiot and that he doesn't really understand much or is he a complicit but i think i think it's a combination of both he's a useful in it in so far as he i think if you ask me said well what else can i do it's probably what his answer would be and i think he's complicit in the sense that he understands where his bread is buttered right he understand who pays and the understands are his prissy's comes from the understands that if he goes contrary to their precious he's going to be out on his ear so he's a little bit of both and you know to the original question what else can i do i would say how about actually giving money to productive citizens who are hurting right now instead of buying up the irresponsible ridiculous decisions of corporations who are hollowing out getting way too much in dividends saving no money for a rainy day you expect us to do that what you expect them to do that and you have no answer to that because he knows what the game as the game is predatory i take

your pay and a story well as previous predecessor bernanke of course went to work at citadel and made a quick $1000000000.00 or as we're getting that way quickly so i think we can say i believe i can say with one percent conference that he's complicit in this major crime and so let's move on you were living in the philippines last we spoke how are developing economies such as the philippines fairing through this global plunder is this it's not well i mean i can tell you talk to my friends and they're i mean they have you know nonprofits and so forth. you know that the philippines is massively days equate subsidized by their call center i mean it may be their major industry if there's a huge contraction in the u.s. consumer market there's going to be just contraction and those call centers and it's going to be not very good for them almost at about 20 percent of population is

in the metro manila area the only upside is they can now see that their neighborhoods and cities just within a half a mile or 2 miles even up to 5 miles because 80 percent of the pollution is created by transportation this big shutdown down a major source of their pollution and finally you can actually see the air they are qualities improved but in terms of this is a sustainable long term thing for them i don't see how it's going to work so much of their canniest type just servicing consumerism and that consumerism if it against a contract and our began to be automated through you know phone answering machines that have artificial intelligence i don't see where they're going to make up for those jobs i see the same thing united states but definitely in the philippines there just isn't any there there when it comes to a replacement in response to this kobe epidemic so you have the happening all over the world emerging economies are crashing and there is a rush as a result of the u.s.

dollar which you know makes it worse for these countries because it gives the emperor more power sadly but let's talk about something on the hopeful side in your piece wake up and smell the 3 see is community cast and coing so tell us about it it's the way in which real value gets really experienced and lived is around real things ultimately. you know i talk a little bit about because i never got my 3 things are i'm calling is basically gold and silver cashes is the u.s. dollar still the world's reserve currency and community i think maybe the most important to us and it has to do with things like sharing. you know timesharing in terms of exchanging work exchanging knowledge that has to do with involve being involved in local economies it may have to do with communal living as people have to move in together and i see that there's been a lot of benefit to that a lot of the benefit will be on the nominate your level very very high boost in

terms of quality of living i made the case in my book listen if you have people you can get along with and you move in together if you go out to see a movie or whatever for a walk as it turns out now. then you don't have to hire babysitters right you actually have other people there and you in your children can play together and if you want to make a meal you know you can just expand the size of the meal you don't have a different as a as a 1950 start as well as everybody having their own lawn and their own riding mower and their own business you know environmentally intensive. environmentally expensive as well they're individualized and fragmented so as you begin to bring things together we realize we actually share certain needs and we have different things we can get we have a set suma mandarin orchard. grow here and we give those boxes away and other people have given us the stuff that they have grown so

that's just the beginning i mean it's a very small example you know it's not scalable in many ways but it goes back to what you know charles and i and charles just met and i have said and many like yourself are saying there's going to have to be massive localization and decentralization of the economy because it's not serving our needs we need to actually have an economy that enhances our colleague life rather than draining it away the nucular families coming back this all that all that hand-wringing and pearl clutching about the loss of the family and bowling alone and all that stuff we're all going to be living together bake and cookies there's that now i have to ask you this because you said. that people are of course wise to hope accumulate wealth and preserve wealth with gold and silver immense in the dollar he said while still the most liquid currency out there but it is not the dollar is the devil's currency it does fuel the empire and it does cause all the problems around

the world and so why not opt out of the dollar as people in nigeria are doing iran zimbabwe and in the philippines people are saying you know what the big coin is my path out of hell is my path out of the u.s. dollar should this be a promote you and charles you spread i mean he's end up because sis were you are you seem to be lagging exists what's happening. i am liking a little bit and i had said that it coined because it it's democratic because of its security aspects and its democratic base says i'm in support of coins the only thing i'm lacking in is how it can be used to actually trade goods and services on the local level for that i think i am in support of decline in the sense that it can be used the only problem right now because we have these decoding can be purchased with actual dollars and these dollars can be basically borrowed infinitely i'm already worried that major companies are eyeing massive amounts of

u.s. dollars and buying a bit quite so that they can control the market there's nothing to stop them from doing that and and if that's the case even though they could be a pretty good hedge it won't be the best on the low level that's why i really really emphasize especially in the near term local currency like cornell has a local currency some people have gotten it together which is a voluntary monetary base that allows for goods and services to be exchanged oftentimes without a lot of tax if it's just trader bar or it's under the $15000.00 tax rate gifting and i think we should be a really look into the creativity around there in the meantime i think diversifying into decline into. all in silver helps to have this again head into into reality the decline is really powerful because it is the most standard currency in the 1st . community and it has actual law change so it has a security system that has a way that it's developed which is not heir to simple manipulation by governments

very very in support of it for that for local use and every day used it's that has yet to be developed i wouldn't be opposed to helping to work with you max in helping to create in the data systems that allow 'd get going to be split up and then also cycle then and even tied in with local currency so that we can go ahead and get out of the cia currencies are being controlled by very few people or comments about control of the coin by corporations are misguided and but we don't have time to get into that today since i'll have to take you on a private session but 1st thank you for being on the kaiser report all right thank you max thank you for educating me. oh we will educate you and that it did for this edition of the kaiser a par with me max kaiser and stacy herbert want to thank our guests he oma yana s. well 1st name zeus and these got a great essay when the world markets office fake economic value loses all real

meaning until next time buy off. us as american citizen but he didn't want to talk. and i think. i would vote for a republican i would vote for anyone who does not and has half a brain. trying. to feel. like a wife. she can handle or. divorce because

our trouble is elected president and i floated for her and she stand. for election. in our history. lesson and months to go before the next presidential election. history in the us now. one of the highest priority programs how will they vote which they do next. just some of the questions we put to the america. there's a threshold at which. big tobacco realised what they were doing and that they continued to do it they continued to put more and more things into cigarettes that made them more addictive and made me want to smoke more of them and the point i'm trying to make is that social media in particular these artificially intelligent

algorithms are doing the same thing. as the u.s. economy was booming gaining numbers of people will need hundreds. you can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of those who were not financially equality and the lack of affordable housing for a living minimum wage gave many people new choice. there's been a problem with the city knows turn to make sure and told me stay away i don't know miss. the food if there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible clubs.

let's just say i just love that the feeling is that all the. people want to make out what why it's why i put out the. clearly hopeful vision but this year our awesome friend so that the us are still stuck at the sole job hoping to do something this year. to charge for. a valuable 5000 i think that's a full alibi ball if i was ever well within one of that kind of a budget that. i .

headlines this thursday the full on fighting between 2 long time foes armenia and azerbaijan enters its 12th day many of had to flee their homes because of the carnage. so as beat the rebirth of the police there's a petition you're with them for love we must raise you know. by cebu. it has been almost 30 years i still see the image of my land in front of my eyes. germany reintroduces antivirus curbs in berlin daily corona cases in the country hit their highest level since spring. plus the us vice presidential candidate is coming harrison mike pence face in office.