putin calls for an end to hostilities in the troubled region. to help stop the fighting. intensifies between the neighboring nations with locals caught in the crossfire forced to flee for their lives. so as beat the record as a petition you can follow most ways you know. he has been almost 30 years i still see the image of my land in front of my eyes. the return of restrictions becomes the latest major city to reintroduce measures to combat. fictions. questions of evidence.

over the water war to prove kremlin critic was poisoned with. u.s. vice presidential hopefuls. like. only t.v. election but it was a high flying. headlines. the headlines this hour up next this crossing how ill gotten gains have trickled down. over the past 40 years given all have your morning news update in just under an hour's time. max kaiser this is the kaiser report kovi coated cope with so much to talk about

let's check in with stacey well you know it's hard to outdo donald trump and his shenanigans in antics and all that sort of stuff but we're going to try so you know one thing we always say is where we're at the end of a few dark ages and of an. whether it's the fiasco in c regime that has ruled the world since 1971 or the us empire since 1905 but of course that whole pocket before it when the british empire disintegrated was also quite chaotic and interesting tet offensive we had a pandemic in 1008 team that was right and that was equally crazy as now perhaps we didn't have a president sitting in the hospital but i want to look at some of the astounding information that is actually unfolding and going on wall. everybody's locked down at home no apparently adult conversations are happening so none of this is being

discussed but it does seem like they all know everybody knows it's over the whole fiat's system value of covert $1000.00 still melissa packages in g 20 countries as a share of g.d.p. and you know it shows a whole list of them but i'll just go over a few japan 21 point one percent canada 15 percent usa 13.2 percent brazil 11.8 percent turkey 10.8 percent a strongly attempt 6 percent and at the bottom is mexico is 0.7 percent so other than for the u.s. all those deaths will have to be repaid and there is a limited ability for a lot of these other nations to print like america can point out this is a fascinating data set actually because during call of it we hear about the u.s. we hear about china we hear about brazil you know but we don't really hear much about japan and yet japan i think in the grand scheme of things is an important

data point in the intersection between the and the fee at the end of the u.s. dollar as world reserve currency the end of u.s. umpire because japan is has been in shall remain the cheapest source of funds in the world because interest rates in japan have been the lowest for many many years down just hovering just above 0 is spend the go to place for all leveraged speculators to borrow engaging in what is called the carry trade you borrow money in japan and you invested in other. currencies that might yield a higher rate and you're capturing that spread as you carry that cash flow over to another currency but also funds much of the leveraged buyouts in america the private equity speculation the deals of mergers and acquisitions they all are from the fed but on the wholesale market globally speaking the fed browse in japan japan is of the global piggy bank so it's interesting because they have no monetary

discipline there in japan so it makes sense that they would be the number one on the chart in terms of 21 percent of g.d.p. now in fiscal stimulus for covert or monetary stimulus for cove it because that's where the world goes for cheap money and so that's a country that is very used to they invented quantitative easing that's their term so that's the intersection the point is as well is that. one area is dying literally and in situation of a pandemic but part of the reason why it's dying is because as plundered 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 ruled 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 1971 to 49 years later next year will be one it will be 50 years since we started on and off at global. foundered 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 goldmine 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 some now they're trying to are packaged their programs as they understand it 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 then 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 looks all so insanely so ok what'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 of a originally 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 bank. 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'd 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 the 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 on 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 $23000000000.00 pounds at a minimum that won't be paid back so the taxpayer will eat that 23000000000 pound car so this is a failed government scheme and it goes back to george osborne's by the let's game remember on the. help to buy scheme by george osborne which covered it we said mother loved it he thought 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 of a diversified economy in a robust economy it all goes into housing so now covert hits of a bubble bursts and he said. they 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 in time 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 they're 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 taxpayer is going to have to pay and we're 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 flip side of in 2012 was the peak britain of this century of the olympics where there 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 and 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 well so 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 feel 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 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 plans. the programs because that's the way the system is set up and designed and that is why only 50 years later if it makes sense 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 are in the u.k. and and america list themselves on the exchange as

a blank check i know they will be too right now in dollars they should be doing them that's the problem with our economy right now is there 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 that the debts on donald trump's tax returns there. is are and again like i have to say this is they are causing the problem because this is a system based on plunder it is a system of plunder and yet they refused to participate and that's making the whole thing to send to great faster because it's causing the wealth and income gap is causing you know. high on on 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 pond or as a tax loss 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 sell their bodies on the street many of them under-age. los angeles police reveal a taste of their daily challenge no if you're going to exploit for a child here in los angeles all they were going to come out is the officers going undercover as sex workers and customers to fight the l.a. 6 trade. welcome back to the kaiser report i'm back faster time now to return to our conversation with this yummy honest is what but 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 well again i mean i almost wonder where that alue 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 is treat 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 that 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 then they did make over to live to expire 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 a lot of 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 touched yearly inserts they did it even with your executive cleaners and it basically bankrupt the company owned 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 foam on 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 opposites 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 get her the pension funds and get rid of labor now this this but 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 buffett'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 velocity 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 i think if you ask him he 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 you understand 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 rainy day you expect us to do that much expect them to do that and you

have no answer to that because he knows that the game that's 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 quite $1000000000.00 or as we're getting that way quickly so i think we can say i believe i can say without a present 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 the 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 casts 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 becoming there but my 3 things aren't calling is basically gold and silver cash is is the u.s. dollar is still the world's reserve currency and community i think maybe the most important of those 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 in a 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 summa mandarin orchard. in

a row 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 usenet 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 college 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's that 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 cope 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 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 point 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 and typical sis were were you are you seem to be lagging exist what's happening. i am liking a little bit and i had said that bit coin because it it's democratic because of its security aspects and its democratic base as i'm in support of the coin 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 that these did going to candy purchase 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 trade or 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. and silver helps to have this again head into into reality the decline is really powerful because it is the most standard currency in the fertile 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 i'm 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 data systems that allow 'd bitcoin to be split up and then also cycle then and maybe 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 for now i 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's going to do it for this edition of the kaiser a par with me max kaiser and stacy herbert want to thank our guests he elma 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 by author. cumberland is still a lot about them getting us out on the. he called me to let me go let fly it's bad enough but look. let's be. clear we hope to leave but there are also friends so that the odds are still so but the soul will

hoping to do something to see. which. they value about the doesn't look as if they are locked themselves a little and i was able to put them on the back to the road map. when i almost chose seemed wrong. but old rules just don't hold. any old belief yet to shape our disdain comes to educate and in detroit equals betrayal. when so many find themselves worlds apart we choose to look for common ground.