timex kaiser this is the kaiser really poured it all about bean counters that soon matters in this economy now stacey yeah because when you look at different economies it's who who is counted and who doesn't count because if workers for example or the bottom 99 percent don't count then they don't get counted and so we're going to look at 2 different headlines and so what it means the difference between those who are counted and those who are not counted in the europe let's look there 1st because this is a topic that is dear to my heart and that is toilet paper who pays for the toilet paper at the big questions of the work from home era as the world compulsives in crisis and tens of millions of us dig in for the long haul of working from home one

question looms large who pays for the t.v. and toilet paper the answer according to the dutch is your bosses and how much about 2 year 0 s. or $2.40 per working day on average this is interesting the lockdown has shifted the way people relationship with their bosses of their companies and how to account for costs and a down to the granularity of toilet paper and the only industry i know where toilet paper costs are incorporated in the p. and l. on a monthly or weekly basis is in the prison business in prison people 'd are very parsimonious with their toilet paper and it's all accounted for due to the nature of that industry so this is what coronaviruses done is created this prison planet type of situation certainly and the workers in the netherlands 80 percent of them are racked are basically part of organized labor they have collected. bargaining so

this is what they're fighting over is $2.02 euro's a day for toilet paper that they now have to buy a home that they used to use at the office and this is apparently considered a right across the rest of europe we see spain has obliged employers to pay for home office meat and some equipment germany is debating a bill in training remote workers rights france has passed a law shielding them from after hours e-mail of course while britain has hinted that it may relax the rules on tax deductions for work related equipment purchased during the pandemic of course we just passed a tax bill a huge one last year here in america and that got rid of that tax deduction if for things you have to buy from home for work that is not reimbursed from your office like in as an employee so if we're seeing that in america with a lot of teachers they have to buy equipment for their izumi ting's and that's no longer tax deductible because their offices their job is not buying it for them they have to buy it but they can't deduct it from their taxes right you know this is a never going back to the way business was you know people are now just totally shifting

their entire outlook and approach to work and their relationship with the company or the institution whether it's the school working remotely or working at home people are building their home studios their home offices and they're using online media and we're not going to go back i mean this is the beginning of a new era and this is something that we're going to look to stall to flee to the era of the office water cooler and having lunch with your friends at work and all the if that's all apparently never come to come back i don't think no it's over and that's why they're in trying these rights in europe right now their workers there are like on top of things i think mediately see their life is changing and they're making sure they get rights here we don't know it's hard to count anything or anybody we don't know what is here and we are seeing some of the signs like for example we've covered the fact that savings rate is at an all time high household wealth is allegedly at an all time high in america and yet you read a headline like this 10 percent of adults did not have enough to eat in the

previous 7 days census. stats show an increasing number of people are struggling with rent food and job losses due to covert so this was the census bureau household pulse survey and they i guess they looked at 249200000 american adults and they found that 134200000 had enough food of the right type 63800000 had enough food not necessarily the right type 17300000 sometimes to not have enough to eat $4900000.00 often did not have enough to eat and $29000000.00 did not report the grail arity of just trying to have minimum calorie intake per capita to keep workers alive to click on from their casino gulag hobbles of which they may or may not have to pay for their own toilet paper the corporation of course has artificial intelligence tools and data big data as it's called to maximize their yield the

average consumer is the on the other end of the artificial intelligence they're the rats in the cage they're the mice in the experiment the ai is observing to develop how to get greatest yield from them without killing the mice or the people and that trend is exacerbating of course we see it quite strenuously being deployed in asia but it's coming to america and canada all these other countries are in europe as well it's also the difference you're seeing between the u.s. and america where the u.s. america europe and america where in europe they're essentially on a dollar standard right they can't print the dollars but they're on a dollar standard because most world trade is in the reserve currency so they don't have a reserve currency they have a semi reserve currency but they have to like nickel and dime they have to count down to the nearest penny so that's why they're looking at sheets of toilet paper how much you use pre-date and how much you get reimbursed for it whereas here we just spray the entire economy with cash like free money for all we're back. yeah

european banks latin american economies and stuff like that so we could do that but there's no the distribution itself because our infrastructure so rickety especially the banking and for structure is just really rickety here and so it's not getting to these people and i'm assuming that some of them are undocumented and so they can't access some of the free money spewing all over the place so we're going to look at where it is like actually doing ok for small and medium sized enterprises versus large enterprises and that is this headline from wall street dot com twisted bailout economy chapter 11 bankruptcy surged but commercial chapter 13 bankruptcy has plunged 4 inches in 20000 small businesses close quietly highest rate ever so the chapter 11 bankruptcy which are like restructuring you're going to continue as an entity those are the from the larger multinational do it the bigger corporations and those surged whereas the chapter 13 which are smaller businesses those have hit

an all time low i mean it's a chart is pretty amazing on that and chapter 13 bankruptcy filings plunged to the low 2006 levels and then we have also the chapter 7 bankruptcy so those are plunging because they've got $550000000000.00 with the p.p.p. the payment protection purchasing act whatever you know the $1.00 that spewed $550000000000.00 a lot when to fraudulent companies and you're seeing people get arrested for that but it did help some of those but you're seeing the increase in bankruptcies of the chapter 11 like all those fracking companies and all the retail companies the system is broken and in america they round up to there is trillion remember during the 2008 crisis they originally they were going to ask for chilean bellers from congress but the wisdom of hank paulson at the time said that psychologically that sounded big so they when they asked for 800000000000 so 1000000000 here. or

there you know eventually heads up and it's real money right but so this reserve currency is literally sprayed around like out of a fire hydrant and trillions and trillions of it and whether a chapter $13.00 chapter 7 or chapter 11 there doesn't seem to be any end to the chapters of the story. of money printing it's the never ending. novella of print more there are signs that it is actually getting to small or medium sized enterprises versus the big guns versus the the people with access to the fed and the fed's free money and so you are seeing signs that it is getting to some of the smaller groups of people there in fact the consumer bankruptcies are down 36 percent in september on last year like so well so to what extent are these small to medium sized enterprises now becoming zombie companies whether it is that companies that get huge problem in the s. and p. 500 the banking industry they live on bailouts and they knew in fact don't have

a viable underlying business so they're taking that boston model and they're applying it to small medium sized enterprises so every dry cleaner and falafel shop in america not canada is going to be living on p p e loans coming from the government out of the money printer go burner and he got a nation of zombies that's why pop culture has given us all the zombie films and zombie t.v. shows to prepare us for the zombie apocalypse there is indeed a bit of a trickle down zombie for cation that could be happening near and everybody gets to be a zombie but it does show as well the data shows that we've also seen a record closing not bankruptcy's of small and medium sized enterprises so these are people that chose to just close their business and not apply for these p.p.p. loans or maybe they didn't get one of these p.p.p. loans because remember j.p. morgan and the big banks got most of the money and they gave it to their favorite cousin he couldn't compete with the small. getting the zombie getting the free

money chats with it's not so zombies take over it's obviously very slow moving yes so you think you could. outrun them and beat them but that's not the way zombie succeed they succeed through cash infusions from the government yes so that's what i'm saying all this data showing a very varied picture and it gets blurred by the amount of spew of paper dollars being sprayed at the economy and it doesn't necessarily rescue the bits of the economy that you want rescued notes malinvestment that's what we would say in let's say the austrian school for example that when you just willy nilly money printer go burner and you give it to the best zombies you can end up with a dysfunctional zombie apocalypse doesn't seem to have stopped the spread of covert as like it's the entire white house has 1000 now and you know it's like for what like all of this entire look at it on t.v.

you know shows they don't look healthy right there all got eyeballs bored out of their heads and skin popping off in the midst of an arm or a leg or whatever right that's that's coded so that's what they say was an h.l. mencken who said something like you always get the president you deserve in a democracy you're darn tootin. royd very. been saying this for 4 years america is as american as apple pie hotdogs baseball and roid rage and. you know lawsuits. wish we sorted that out quick well we got to take a break then let me come back speak in a small to medium sized enterprises the most charming successful taking the shop and middle eastern food in canada. don't go away.

oh look forward to talking to you all. that technology should work for people. i robot must obey the orders given by human beings except where such orders would conflict with the 1st law show your identification for should be very careful about official intelligence and the point of view screen is too great. to take serious chopping with artificial intelligence will summon the demon. obama's protect its own existence as. well. as the us 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 is

the way of opportunity the reality of it is we're not financially equality and the lack of affordable housing for a living minimum wage gave many people no choice though there's been a problem with the city knows time limits on and told to stay away oh miss colton concerted effort is no answer because the answer requires resources the most vulnerable are abandoned on the streets to become the invisible comes. welcome back to 3 part time not to go to ali how mobbed he is the founder of tea he needs restaurants

a chain of self described quote best middle eastern restaurants in the world out of london ontario canada he's got a very thick story about inflation wealth confiscation through currency devaluation and bitcoin this is got it it's a great story and great food alley welcome to the kaiser report thank you max thank you for having me it's an honor you've got an interesting story so let's start with you fleeing egypt after the so-called arab spring kaiser report was there just 2 or 3 weeks after the barack was overthrown we did some shows in cairo so lay out the scene for those too young to remember what happened tell us how the wealth confiscation happened we grew up in egypt and my father was working in saudi arabia professor and we were kind of back and forth between both countries but i got my hired to cation from egypt and then 2000 live in came and

we witnessed gyptian revolution and it was a spectacular events. we were like we were honored to be a part of part of the revolution and we saw we saw you know the whole country sit stand out against the current president back then and we overthrew him and then the same year we decided to leave egypt and move to canada where my father recently got his ph d. so we're all dual citizens. and we decided to move. we were faced with a big problem of my father moving his well from egypt to canada and the banks pretty much froze. coming capital coming out of the country and you can

only move like a $1000.00 per month or something ridiculous like that. so which forced my father to work an extra 6 years in saudi to kind of fund his retirement fund his new home that they have here in canada and yeah we were faced with with strict capital controls on on their money and it was a wake up call. during that time from 2012 to 2017. where things got a little bit easier to move money around we all witnessed the egyptian pound drop 65 percent against the us dollar. which was devastating we saw it happening year over year instead of 5 years my parents saw a lot of their well just evaporate into thin air sorry call and as mentioned kaiser

report was an cairo shortly there after the so-called arab spring and the revolution i remember at the time the feeling was euphoric and also this idea they call that the facebook revolution because through social media the generation in particular women and whole thanks to kicked off with the protests the women's protest against some police brutality i believe and this was at that one hand it was your forte and it was socially media and as we outsmarted mubarak and we took over with in a very short order of time they. the euphoria faded and a harder reality came in and you became sensitized to banks you know a currency devaluation and. everything that a lot of people all over the world are experienced saying and we see similar events

in lebannon argentina venezuela do you think that westerners in places like europe canada in the u.s. are too lax a days ago about thinking that something like that could happen here it's not there of the same countries. like the western countries and countries in the middle east and asians who work but. we know where that road leads we're not saying it's going to happen tomorrow or next year or whatever but eventually with the same monetary system in place we know what that looks like and that's not something that i would be comfortable. taking my family through and we want to tell people about that and we want to tell people they there's another option you know and bitcoin provides step option because it gives you that freedom to say you know what i don't care what happens to countries what happens to

currencies i'm safe my family's safe i can focus on our help you know our job our careers and so on so i have peace of mind and. and yes as much as the dictionary evolution was something euphoric. when we were we were part of that i can tell you max like you've seen it you seen how. like when you're in the streets you look to your right you can see people as far as your eye can see you look to your left and it's the same thing. and it's all nice and dandy but. when it comes to your well that is getting affected by those type of events i remember a time square it was crazy sometimes mob scenes but what was interesting is my observation was that the police for effectively not on the street the place where nowhere to be same but yet people all came together and they functioned in

a chaotic way but they still managed to find a consensus if you will amongst the people who are clinging to this newfound freedom and it was working as a way i remember at the huts out socking somebody who sat here for the 1st time in a life as a jeff and fell the sense in his heart. of being free and he could just tell he was completely elated and it just seems that you've carried the torch of this freedom with your bit coy and what the way you carry bitcoin and your restaurant chain was really a trend setter and did something remarkable some might say is that you put a big portion of your task into big coin as a safe haven as as a reserve currency and something that michael saylor over at micro strategies got a lot of attention for i believe you actually made this move ahead of michael saylor correct actually you know we did it right after michael saylor announce it

right before we were all because winners in the company and we already had a few meetings about being the company's reserves into big going and soon as we saw michael saylor announced we were like that was just so over the edge and we realized ok game on this is going to be a recent accumulation. we think that all corporations are eventually going to be acquiring bitcoin at some point and we just said hey we're going to do it 1st right so that was the kind of the spark that that got you guys off the fence and it's like i are going to put our portion of our reserves to depict going you know i got asked did i watch your videos on you tube every day right from to his restaurant where you're preparing little what's i love and you know i got it you same to be doing very well these days and terms of keeping the company going keeping the

spirit going up and up the franchise and i see that that was covert around the world this is not always the case what what's what's your secret our secret in our business is just good food and good customer service and that when it comes down to that we really focus on making the best middle eastern food out there and we have meetings every day and every week on how we can make it even better so i think. you know our focus on quality is kind of the secret recipe behind our business model and also our profitability profitability. which gave a reason for all these franchisees to come join us and open a nice franchisees themselves now do you communicate customers about decline to take brick or as their pick my message in the restaurant area on that level so not

really we we made it public through our twitter account and our franchisees and our customers can see that as well. but we we made it clear that you know we did go on a bit quite standard. but we will continue doing our transactions and and purchases in fear because it's s. just the efficient way to do it that's what most people do it. and we don't think like i personally don't think that because one is a payment sick knology i think we have better things to do that. it's a savings technology right and that's what what i think people should fud as sources we know is that we got all these like messages like 80 payments lining payments like guys do i spend your big quinn. has a. queen with it. i don't think it's made to be spent that way well you know the

customer is always right after customers demanding that they can pay a breakpoint you know you've got a listener a customer that's your customer centric enterprise that's what made you the greatest middle eastern food in the world and you know driving this whole movement in canada is customer appreciation so i also draw on technology i see amazon these other companies are getting into drone when will i kick back order a falafel by drone. hey max i told you this before if you ever want to take a nice meal let me know i will like show next it to you any time you want you don't have to worry about that oh now we're talking that's why that's the kind of thing i like so it's because i'm it's middle eastern cuisine you're in canada a town is a little different climate than egypt a little colder and have you become an ice aki fan not really actually i've tried to watch it and i can never keep my eye on the puck so.

i know canadians are going to get upset about that but. oh i'll stick with making food and focusing on that and. yeah accuse not for me though it's sam just up it quite resonates with you on a much deeper level is that true yes max so i actually want to send a message to everybody that's watching your show. and i want to tell them that. our move into bitcoin wasn't just an investment it was our savings policy ok and we struggle and i think a lot of communities struggle with this around the world where. i'm also going to speak for like a muslim community for example. i don't know if you knew this about the muslim community max but in our religious teachings were not it's against our religion teachings to use interest and to live in

a debt economy. but we're faced with that our whole lives because that's what the whole world runs on. so we also have a situation where you have inflation at a rate of 10 to 20 percent it's not the 2 percent that everybody talks about it's actually 10 to 20 percent and for people to really understand that they they need to understand that their retirement is running away from them at a 10 to 20 percent per year which means if you want to keep up you need to earn an extra 20 percent every year just to retire so whatever people's off's option number one is. stick with their principles and try to save in cash and be poor for the rest of their lives that's not a good option option over to is embrace forget your principles embrace or

embrace the debt economy. load up on debt. and then spend the rest of your life paying off these debts and then still not have enough to retire at the end ok so that's that's not a good option an option 3 is somehow figure out the stock market become a financial like expert and buy all the apples and amazons and the googles right when they start and try to get it all right good luck with that right it's not going to happen all right got to cut off their thanksgiving i keyser park ellie how mom of genies restaurant thanks for having me well that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guests they have mom of 2 he's restaurant up there in canada if you'd like to get in touch with us please dissidents next time.

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in the headlines this morning possible peace in the making right now a cease fire in the disputed region has just come into force i mean. struck a deal after more than 10 hours of talks here in moscow. a cease fire is announced from. elsewhere pre-election chaos the 2nd u.s. presidential debate is canceled after donald trump refused to participate online claiming he was cured of. the democrats claim his health makes him unfit generally for office. new restrictions because a covert 19 sparked mass protests in many countries and global health officials say could.