i'll see that. an entire village in alaska has had to move if another country trying to wipe out an american town. we do everything in our power to protect the. water they escaping climate change is the same threat right now alaska seems some of the fastest coastal erosion in the world we lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. it is fast and that means the river is $35.00 closer than howard. was 4 i don't think we're part of america or earth from.

any. to. the max kaiser. for many years now we've been saying that a new bretton woods is inevitable. and this past week that i may have said exactly the same thing a new private words is coming oh boy stacy what's going well so many people and so much media has focused on the clown car show happening in the us elections that they kind of overlooked this whole i.m.f. is calling for a new bretton woods which of course would be seismic it would coincide with the 50 year anniversary and 2021 is a 50 year anniversary of the us dollar standard remember we went off the gold

standard temporarily and august of 1971 richard nixon said there were close in the gold window just temporarily until they could default on their debts to england and of course 50 years later we're still defaulting on the debts but we could be seeing a new bretton woods who knows what's going to happen but you're talking to simon dixon in the 2nd half about that in the meantime you know really what's going on is that through cities trap that we've talked about which is the rising power china always ends up in conflict with the decline in power which is the united states in the situation we certainly see that heating out and you see that however even in the attitudes of people around the world here is a chart which is world's leading economic power this question was asked to people in advanced economies around the world and among advanced economy publics 48 percent thought china was the number one power 35 percent thought the u.s. and amongst germans it was 55 percent saw a china as

a leading power and 17 percent of the u.s. and this is unfathomable a low says adam to use this idea of the 3 cities trap you know it sounds very elegant doesn't it it's quite historic an epic and it's a changing of the guard right so we're moving from the american century to a chinese century no doubt and the u.s. dollar as the world reserve currency had about 100 year run which is normal going back 500 years there was the u.s. . turned to have the world reserve currency and that's all shifting and now we have a new brand would succeed him and which is effect because the last one came after world war 2 which was a seismic geo political reordering of the world powers so this is a very and the if i have the election right the election is obviously going to be contentious and we've got a good 3rd 4th quarter of 2020 shaping up max you studied greek tragedy as a student at n.y.u. you know not only did the greeks give us democracy and philosophy and so much of

mathematics and our understanding of humans but they also you know really understood like this sort of inevitability of the cycles of life tread the great challenge of these you're always know what's coming right the chorus is there you know we're. like the chorus of this tragedy where it's just saying i care this is about to happen this is where hubris is going to make this person do so it is a perfect time a perfect word to cities trap to use for this sort of situation because it's just inevitable there's no like good guy or bad guy it is just what it is that's fatal fatalism and it doesn't mean necessarily that one is being cynical if one recognizes the fatalistic quality of certain dramas as they unfold because what makes a good drama is are the rules outlined by the greeks you know 262700 years ago and it is entertaining for that very reason that the ending is known but the hero or

antihero walks right into that buzzing saw in my life themselves in extra blade but fatalistically and we see this time and time again so the us. at any moment they could get off this path in the camp of walking into the buzz saw that nick conceivably but fate is drawing them to the blade you know we had aristotle plato socrates. they understood the the man right they understood but tries us and we always try into the buzzsaw that's the way powerful people are powerful nations do it they just go straight into the buzzsaw there's no other option they can just like kindly walk off the stage you know it's just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to a fatalistic end unnecessarily and that's what makes it tragic speaking of tragic just look at that chart this is our deficit numbers plunging here it is the deficit

serves the u.s. record it is widest budget deficit in fiscal 2 $1020.00 since the 2nd world war that was a tragedy was which it was a massive global tragedy at the end of the last empire of the british empire and you know the rise in power at that time was germany and the and the us but they decided to fight germany right in the us went into massive debt to win world war 2 it was a kind of a gamble and it's like amazon went into massive debt for many years to become the world's biggest retailer and it paid off and jeff bezos is the world's richest man but this time america went almost into similar debt and before it's all over probably equal if not more debt but without any payoff there's no way that there will reap any reward to this because they are hauling themselves out after world war 2 the us was intact the rest of the world is in shatters here the us is in shatters and the rest of the world is on a relative basis in different layers and levels of being shattered and it becomes

kind of a battle of the most shattered and in that battle the us has done necessarily got the best poker hand it's mazing that to me that the timing of this new brand woodstock comes at the exact same time debt levels in the u.s. work where they were during and just after world war 2 so when you get into those huge debt levels and you need a reset you realize your paper funny money is no longer valuable you need to appeal to the globe now we were. essentially america is tapping out we're tapping out and saying we need to reset the shining city on the hills about to go bankrupt please help us please help us so they're going to go to the global bretton woods to play this massive geo political financial poker game and as we've said on the screen show before the u.s. is holding not a great hand everybody was and after world war 2 but mostly today and say everybody owed the united states money at this time when we enter this 2nd bretton woods what we see is there are videos china money however i think china understands they're

not actually going to get paid back like the marshall plan loans were paid back you know the last them only just paid back in the last 2 or 3 years but the china knows i'm not going to get paid back that's why i think they built up a huge amount of infrastructure during the past decade especially so the original article mo hussein says that u.s. budget deficit tripled to a record 3 point one trillion a fiscal 2020 spending soared 47 percent in the year ended september 30th in this case we have what the you know the equivalent of world war 2 is this pandemic and has caused a hit to global economies to now not as many deaths obviously but it has hit production and manufacturing capacity and with that you know we also at the same time have a u.s. election and goldman sachs saying this sell us $1.05 silver investors should look into selling the u.s. dollar they say and buying silver into the election according to 2 reports from goldman sachs there is a growing risk that the u.s.

dollar will plunge to its 2018 lows as democratic candidate joe biden continues to extend his lead in the polls prior to november 3rd so they see that a fight and win would be bad for the dollar i guess they assume a resumption of the china relationship joe biden was quite instrumental in the whole w t o bringing them into the. opening trade relations with air and you know allegedly his son also has big. china so they just see a more favorable relationship with china and therefore a continuing decline in u.s. manufacturing and expansion of the deficit and perhaps m.m.t. in more money printing sort of situation for a role don't blame the pin for the bubble right so there was a bubble building in the us economy the global economy for years now and the virus current virus is potentially the pin anything could have been the pin beginning of this year we outlined 6 or 7 things i could be the pen to pop the bubble i think

i'm not sure pandemic was on that list but it did rule doesn't really matter what the pin is the bubble could have been. eased in and deflated long ago but it never was and so now it's popping and goldman sachs is saying well you know this job by the way and outcome could cause a crash on the dollar maybe maybe not in terms of relating to the biden whether he's in or not doesn't matter actually who's in the white house the the fact is that the dollar is toast and we're garble so who's of the white house they all see silver rising becomes of solar power they believe that's going to expand massively in the next 10 or 20 years but on top of that you know if you really look at this the slow start of greek tragedy unfolding you don't have to look at any sort of partisan news or whatever any spend just look at the charts yourself and see what happened in 2000 and that in 19932001 not only do we have the dot com collapse but we also had the commodity futures modernization act and the repeal glass steagall which was those 2 i believe were crucial to allowing the china into the most

favored nation status in 2001 just after 911 so all of these things happened at the same time we got to export our manufacturing it domestic elites no longer needed the workers they didn't need productive wealth in this country because of the commodities futures modernization act and the huge explosion and derivatives that followed that so i think all of those go together and the tragedy. it's been unfolding for 20 years we've seen this coming right and what so in the tragic greek drama the character flaw of the protagonist is that they might be greedy or full of hubris and so they are inextricably tied to this tragic ending and we've been saying for years ok based on the greed of america it's an economic policy it's not trying to cure wealth and income gap is not trying to be egalitarian it's just greed greed greed greed dressed up as something else which would have a tragic ending and now the buzz saw of tragedy is fast approaching and the us

cannot do anything extricate from this path of destiny of the fatal destiny that it better does that in extra could be tied to therefore we must understand that the only way to find solace on an individual basis is to think of ourselves as having individual sovereignty instead of being tied to a sinking ship of a nation state but you never know where a truth is going to come from you know and that's why i'm against all these things that are revisionist in nature because you never know actually will matter what the surface there is some underlying truth that can be useful the truth is that the electorate me the bad decision after bad decision partly because we're only ever presented with 2 protagonists to choose from to rule this decline into the end we only ever had 2 options and of a nation of 340000000 and sure enough we you know as i think was h.l.

mencken said that one day the people who american this great democracy will choose the moron they they deserve to rule the country and you know that's what we kind of have these 2 choices of a decline right various abilities and well that's it you know and that's what we have a new bretton woods yeah i think everybody outside the united states is like that's why they like. might be time for a new bretton woods and goldman sachs is saying dump the dollar they're actually suggesting short a dollar short to the dollar so they're saying bet against america and. the warren buffett stone tragically we knew this when we come i must take a break and come back after the break. fantastically for you.

l. 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 to conflict with the 1st law show your identification for should be very careful about artificial intelligence and the point is to create a trance. like theory of playing with artificial intelligence will summon the demon. the robot must protect its own existence is. secret prisons and usually what comes to mind when thinking about europe however even the most prosperous can be deceived within this 0 zone there were too few

houses were. preserved were located only cia people had access to the story for investigators she held the uncovered the darkest dealings of the secret services but i mean. the great ignore in. trying for justice. any brain. my favorite or that. you're absolutely wrong we have a part of the brain right here in the middle that's on the right side with simulated and even healthy people one of the crew for sold out of the body experience.

welcome back to the kaiser report i'm max keiser time now to go to simon dixon of bank to the future dot com simon welcome back to kaiser report exactly max right simon dixon they're not bad going for a new brand new words you've been gone viral what's your video breakdown of this year going through the whole thing what does it mean as opposed dollar world is it a bank or are we not gold standard of digital s.t.r. central baghdad still currencies what do we look for you know what i think is going to be a central bank digital currency i think we're going to see as we talked about in one of the previous episodes on guys are both the absolute tax on the banks and i think this is a central bank led wolves now and central banks are sucking up all the assets all around the world it had taking on too many of those toxic assets i think the i.m.f. is getting ready to roll up all of the central banks into one i.m.f. central bank digital currency it's. trends is this is what they've been looking for

for a long time so the i.m.f. came out of the last breaths and was meeting in 1944 when they removed the gold standard and moved it to a gold dollar debt back standards and then in $71.00 the us decided to take remove the gold standard and move it to a full fee a debt based ponzi scheme and so i amassed started losing some of their significance and the plan. we now list is the latest move of making sure that they get 1st to market with the central bank digital currency china's being the test bed at the moment but they don't want china to start in traction around that and so you i.m.f. world bank bank of international settlements they're getting ready to put together their one global lud digital currency and they're calling for bretton woods 2 so that they can start implementing them. ruling out another way to look at this is to characterize this as call it

a great race that the big reset of course bretton woods was the big reset post world war 2 but what exactly is precipitating the name for this big reset i'm assuming that the global increase in debt has something to do with it simon yes oh everyone's maxed out on their credit cards the central banks are starting to max out on their credit cards we're reaching the new you know the new school of thought is all about modern monetary theory where by central banks and governments can just spend money into the economy hands we can have on limits of printing we're getting ready in england the bank of england already reached out to all of the clearing banks and said are you ready for negative interest rates is that going to cause any problems with your technology because we're getting ready for the negative interest rates and so you know all of these these different trends are coming together and everybody's you know they already facebook trying to get as out now we've told the central banks getting ready should as they want to automate negative interest rates

automate tax collection or to mesa valence connect the central bank digital currency to you know compulsory vaccines whatever agendas or whatever goals they might have this is really the control that is needed that they've been pushing for ever since 911 when you know previously laws have been gradually moved to a window in france for money laundering laws and this really is the central bank digital currency deciding that they can actually if all these banks or even leverage titian if they didn't take enough of that old sick asses and sell enough of them to your pension then they're getting ready for banks being able to collapse consumers not using their money but making them download or not download their central bank digital currency and put all these different central banks digital currencies carrying 31 global digital currency. issued by the i amassed a bank international system and some will banks and they want to make sure that

dave barry there are a dissenter of that they say with their special during writes i'm now they want to go for policy right and of course you know i've been talking about this really since 2008 you know there's a lot of videos online max keiser simon dixon various news organizations talking about the global financial crisis of 2008 when the banks were not allowed to fail they took all of those debts on their balance sheets and they were bailed out by the central banks and they were prevented from having to declare and solve and say here we are 12 years later and the central banks have sucked up all that bank debt as much as they possibly can so the central banks native bailouts how do you ballad a central bank we're talking about and what others have talked about is a $100.00 trillion dollar or more credit facility or lending facility and to roll up all that central bank debt into a global loan facility and so what you've done is you've dig into it a little bit and you're saying that the s.t.r.

the special drawing rights or the even a digital s.t.r. is not going to work will look like it's going to be global central bank digital current say and well as you point out deposit r.'s are not going to be in encumbered or at risk the banks will effectively protect deposits but they will allow the banks this time to throw them under the bus is that correct in that you see that and could you go into that a little bit yes so the banks have been leveraging up like crazy when they reach they try to siphon off as much of that's all see prostitutes do your pension by sticking no aaa rating on it so that they can sell the investment grade. and some of those have been downgraded so they can no longer be sold your pension so they're looking at what the next options are well the traditional playbook during the last financial crisis was hold tight spot. is to ransom by being too big to fail. ok it's

a debate ingests take people's deposits to recapitalize or buying and then issue them some saw it's monetary policy is no longer working and will close of this and any. governments around won't have been employed in saying the most aggressive fiscal stimulus is that they can muster funded by a quantitative easing and then the next thing needs a soft thinking about well what if people you know waste funding the wolds well what happens when the stall actually funding the loans and covering their mortgages i'm sure all of these packages eventually you're going to get real estate defunds people can no longer afford their mortgages and need soft thinking about music stations are back. on banks and the easiest way to perhaps need to do that now or see just replace the money that was created by the private banking sector has that let the banks they've bought new congress and central deposit insurance in s.d.

i see no need in the last savings and loan crisis you know that was the savings and loan s l d i c which needed $150000000000.00 bailout and will roll dawkins' f.d.i.c because actually i.c. is the only insuring less than one percent hold deposits they can any allow one too big to fail bank to go boss and so they have to pick those winners and they want more than one too big to fail bank there isn't for a whole. s.t. i.c. doesn't have lots and so robs and allowing consumers so new celebs oppose it it's just simply awesome that download did not stick in the terms and conditions everything that you want them to do and they can get less free money they can get their helicopter money. and get that deposit saxony cupboards by this new debt well actually this is a non debt it's money. we're replacing is a deed. averaging mechanism for replacing all the leverage it was great seeing

bands are replacing it with these currencies but you need these laws you're going to say shit and so you know the next election in the united states is such an important election because your. whole body to renegotiate the future money and all your math is that you don't want to in debt that way and now i make show them more significant replacing the dollar sound needs when global central bank digital currencies throughout history it's been necessary occasionally for governments and banks to declare jubilee or at that jubilee are reset and so that's not new i mean this rather than inflection point where a reset and a day leveraging as required they difference here however is that they banks have a way to go about this is saying a crypto currency which is not debt but equity based to protect the positive are sensitive leverage the economy so the big question is jail politically the i.m.f. they're calling for this now bretton woods who gets a seat at the table who loses and will gold be

a factor simon i don't think goes going to be a shot in the design off the new financial system i think that if you have the last gold to g.d.p. reserves in your central bank will your country. unite since then he eats russia germany represents in europe china certainly has been achieved in a small well this is where you get a seat at the table at bretton woods to by having a not gold to g.d.p. reserves to actually be significant now all of the other central banks able to stop thinking about well what do we need to become significant and that's where i think we're going to saw seeing some of the smaller central banks whose currencies have been destroyed start to actually think about what their reserve posset saw to be more significant in this upcoming monetary renegotiation and if i were a small central bank i'd be looking at the only a some match very bad that you can. making the car market which is actually holding bitcoin on your bond and she. received

a we can see something like you could see the you know what you have for example so you know $1.00 trillion dollars treasure hole why and why it's right we could ask nisi influence when these currency was new us decides once he just believes that he's treasury they could do that sorry naked just. needs a centralized database that the federal reserve or the government's going to need to switch. and some gap will china. long will those treasuries days barry on their gold reserves to get a significance in nice monitor negotiation so i think he's had written so many times that it would seriously going to see these currency wars snoring i did predict zimmerman guys were bolder norms are yes jeff record has bent writing about this and talking about this for a number of years they went to great accuracy and of course he was

a big believer in the s.t.r. i think your case about this digital cryptocurrency makes a lot of sense obviously a country like the united kingdom baseball have their gold bullion on a number of years ago and they will be a while fully inadequate play representative at the table you know whom gordon brown to most of the gold reserves how the bank of england sold them off so it's $300.00. you know the u.s. made the right needs a compass kates of gold from all the people at $35.00 an hour gold supply at $2000.00 and beyond so it's all coming back historically to the to this a conversation that's been going on for hundreds of years of the 1000 years now the 2 principal antagonists in astronomy would definitely be us and china us as all the debt china all the debt owed to it year in near thanking the in the one of the ways that the us can fight in this global currency war is to simply delete that. debt and it goes away from that balance sheet that sounds. quite you know rather it

sounds radical but in that in these days of digital warfare maybe not so much simon i mean this you know this is this is currency wars you know you can imagine a few sonorities you know the u.s. it's the next election he's been saying this is the trying to buy roots he could actually say how much he's actually wrote you know these that sends our economic blogs as trying to cool the united states they might want to take it to say that they owe us more trillion dollars pipes or you know in compensation i'm decile we're just going to delete these $1.00 so you can rationally you know these are the types of snorri sydney can see as he needs to be as currency will stray you mentioned jim records terry also said that the u.s. can separately keep the gold that they store for other countries anyway rad time simon dixon thanks so much for being on the kaiser report yes thanks for having me all right and that's going to do it for this edition of the kaiser a car with me max kaiser and stacey however i want to thank our guests simon dixon

out of his book 10 years ago banks of the future was the 1st published book ever to mention beck point that's right and so next time by a. little more than a week before the election many are asking the question do you believe the polls we have good reason to do so should voters trust the polls and if you don't trust the folks will you trust the outcome of the election. analysis or seems wrong role just don't hold. any role yet to see how it does this kind of activity. and gains right because the trail.

when some find themselves worlds apart. just to look for common ground. new revelations emerge in the hunter biden e-mail scandal another former business partner comes forward directly linking presidential hopeful joe biden to the controversial dealings. the democratic nominee prepares to face off against donald trump tonight's in the final debate before the u.s. election stricter moderation this time around with a mute button to prevent interruptions also on the program a volunteer and a major in 1900. the conflict between azerbaijan media rages on in spite of 2 cease fire deals our correspondent is in the disputed.