for justice. max kaiser. for many years now we've been saying that a new great woods is inevitable. and this past week that i may have said exactly the same thing a new brand of words is coming oh boy stacey let's go well so many people and so much media is focused on the clown car show happening in the us elections 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 u.s. 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 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 as 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 the new brand woods agreement which is epic 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 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 tred 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 ok 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

an 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 it will have bought 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 dollar by 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 there 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. 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 coronavirus 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 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 that tragedy has been unfolding for 20 years we've seen this coming right and what so in the tragic greek drama of the character flaws 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 and stop 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 that it is now 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 when 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 merican 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 decline rights of various abilities and so 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 that 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 that all of that warren buffett stone tragically we knew this when we come i must take a break and come back after the break. fantastically for you stay to.

the demick no certainly no borders and is blind to nationalities. as america we don't come with you we don't look like the whole world peace to be. people. judge you. come in every crisis like this system. we can do better we should. everyone is contributing to each of our own way but we also know that this crisis will not go on forever the challenges created the response has been much so many good people are helping us. it makes us feel very proud that we are in it together.

you know when i'm going to be at their school i don't think of the last act i don't mean a guess that grown men now need or for this kind of where i want to be on the course of back and not be now i think it's hard and i. have to cut my feet is always them safe and quick passage to europe but once they do i believe they are in sleeves because of the tribute of. some of the maybe a mom and i couldn't you know if this unit could get out a hand. gun but london or whoever did it from the cinquera me out of the they sold the.

lady welcome back to the kaiser report i'm max kaiser 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 i'm bats going for a new brand 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 a digital s.t.r. central bank digital currency 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 call is a report of the absolute toc 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 if they're 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 so you 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 1984 when they removed the gold standard and moved it to a gold dollar debt back standards and in $71.00 the us decided to take remove the gold standard and move it to a full fee of 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 getting traction around that and so you i.m.f. world bank bank of international settlements and 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 and rolling out another way to look at

this is to characterize this as caught 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 need for this big reset i'm assuming that the global increase in debt has something to do with it simon yes so 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 whereby central banks and governments can just spend money into the economy hands we can have on limited 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 there is out now we've

told the central banks getting ready should as they want to automate negative interest rates automate tax collection. what's 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 previous evils have been gradually moved and when that in france for money laundering laws and this really is the central bank digital currency deciding that they can actually if you will these banks or even leverage titian if they didn't take enough of that old safe houses 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 caring for one glue a digital currency issued by the i.m.f.

bank the international system and some will banks and they want to make sure that dave barry there are a dissenter of that they spelled with a 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 that size or simon decks on various news organizations talking about the global financial crisis of 2008 when the banks are 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. we look like it's going to pay global central bank digital current say and well as you point out deposit ours are not going to be encumbered or at risk the banks will effectively protect deposits but they will allow the banks this time to fend throw them under the bus is that correct and the how you see that and could go into that a little bit yes the banks have been leveraging up like crazy when they reach out and they try to siphon off as much of that old safe passage to your pension by sticking no aaa rating on it so that they can sell the investment grade on. your pension i mean some of those have been downgraded so they can no longer be sold 0 pension so they're looking at what the next options are while the traditional playbook during the last financial crisis was hold taxpayers to ransom by being

sued big tobacco. gates and a baby ingests take out people's deposits to recapitalize your bank and then issue them some saw it's monetary policy is no longer working and will close of this. the governments around the world had been saying the most aggressive fiscal stimulus is that they can muster up funded by a quantitative easing and then the next thing needs a soft thinking about well what if people you know which funding the wolds well what happens when the stall actually funding the loans and covering their mortgages all of these packages eventually you're going to get real estate de france people can no longer afford their mortgages need to sock thinking about new locations a back. on bangs and the easiest way to perhaps need to you guys just replace the money that was created by the private banking sector as that's let the banks their boss you can't rely on federal deposit insurance you know to the s.d.

i see no need in the last savings and loan crisis. you know that was the savings and loan s l d r e c which needed $150000000000.00 bailout and will roll dawkins' f.d.i.c because as the i.c. is the only insuring less than one percent of all deposits they can any allow one too big to fail bank to go boss and so they have to pick those winners and if one more than one to bits about bank goes and. ask the i.c. doesn't help and so robs and allowing consumers a new celeb supposin it's just simply awesome sit down load the mop stick in the terms and conditions everything that you want to do and they can get their free money they can get their money and you can get that close it saps need cupboards by this new debt whoa that's new this is a non debt it's money. we're replacing is a deed leveraging mechanism for replacing all the leverage it was great single

bands are replacing it with things currencies need these larger organizations so you know the next election in the united states is such an important election because your iris can trump all bodies and to renegotiate with future money and all your math is that you don't want to in debt that way and i make show them more significant replacing the dollar sound when it's the us global central bank digital currencies that will throughout history it's been necessary occasionally for governments and banks to declare jubilee are at that table a are a set and so that's not new i mean this rather than inflection point where a reset and a date leveraging as require a different pair 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 deposit errors and to leverage the economy so the big question is jail politically the i.m.f. they're calling for this new friend in the woods who gets

a seat at the table who loses and won't call be a factor simon i don't think goes going to be a shot to. in the design off the new financial system i think that if you have enough gold to g.d.p. reserves in your central bank will your country. unite since then he needs russia germany represents in europe china certainly has been accumulating the law well this is where you get a seat at the table at bretton woods soon by having a nazi 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 do to become significant and that's where i think we're going to saw seeing some of the smaller central banks use currencies have been destroyed start to actually think about what their reserve asset 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 ace the match very bad that you can

make in the current market which is actually holding bitcoin on your balance sheets . we could see something like you could see the you know what you have for example you know $1.00 trillion dollars treasuries are actually whole why. we could actually see insurance and when these currency was need us to sites right he just believes that his treasury means they could do that so they can just . sort of you know he's a centralized databases that the federal reserve florida governments can actually just switch. and so that more china has long will this treasuries disappearing on their gold reserves to get a significance in nice monitor negotiations so i think he's had written so many times i think would seriously going to see these currency wars snoring i didn't predict zimmerman guys with balls or unknowns are yes jeff record has spent writing about this and talking about this for a number of years

a with great accuracy and of course he was a big believer in the past they are i think your case about this desert all cryptocurrency. he makes a lot of sense obviously a country like the united kingdom they sold half their gold bullion a number of years ago and they will be woefully inadequate way represented at the table you know gordon brown most of the gold reserves held at a bank in england sold them off so it's $300.00 was you know the u.s. made the right needs a compass gates of gold from all the people at 35 dollars an hour missile no gold supply a few $1000.00 and beyond so it's all coming back historically to the to this conversation has been going on for hundreds of years of the 1000 years now the 2 principal antagonists in a strawman would definitely be us and china us as all the debt china all the debt owed to it year in your thinking that 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 it sounds. quite in our route it sounds radical but in that in these days of digital warfare maybe not so much simon you know this is this is currency wars you know you can imagine a few sonorities you know the us it's the next election he's been saying this is the trying to fire its wote he could honestly say how much he's actually wrote you know these that sends our economic blogs as trying to cause the united states they might want to take it to say you know they owe us more trillion dollars spites or you know in compensation and ethel 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 we need sydney's currency will stray you mention jim records sorry also said that the us has separately keep the gold that they store for other countries anyway rad time simon dixon thanks so much for being on the kaiser report jeff 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 here we want to thank our guests simon dixon into his book 10 years ago banks of the future was the 1st public. book ever to mention 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 go to trust the polls and if you don't trust the polks will you trust the outcome of the election. americans love by and homed. this was a fundamental part of how our political leadership and our country at large understood

the bargain you get a hoe and then you know rebel right as the things you don't revolt if you have a stake in the system. the really interesting back and think about the longer deeper history housings men in the united states not just that question of the american dream but the bigger question of who the dream is and for . headline stories this hour a new revelations emerge in the hunter by email scandal in the lead former business partner directly linking presidential hopeful joe biden to the controversial

feelings about the democratic nominee prepares to face off against donald trump on thursday nights in the final debate before the u.s. election restrictor in moderation this time around with a mute button to prevent interruption. volunteered in a major covert 1000 vaccine trial. over the last resent it could be. on the conflict between. armenia rages old. tud cease fire deal.