isn't a crisis as that these people who are wrong of us time keep on getting elevated to higher and higher positions and they get rewarded and celebrated as heroes i mean hey did big queen at 10 dollars and we talked about it he did the 100 he did that at a 1000 and well he loves it at 13000 to show you how this has worked i'm going to show you 24 teen have behind from our j.p. morgan chase c.e.o. denounces bitcoin as terrible predicts its downfall in the article he says is a terrible store of value it could be replicated over and over it doesn't have the standing of a government that wasn't $750.00 between was in the news so he was saying it's a terrible story value $12000.00 later like he's now his bank is pushing and we'll get into that headline right well he's not alone in being 100 percent wrong about declaring there is no audio roubini paul krugman peter schiff and

a whole list stiglitz another no bo wening in correct call on bitcoin and there's still a huge and long list because for the reasons that we said it was going to take over the global economy those reasons of now been accepted more and more by the global population and jamie dimon is a guy who he is defending the status quo is part of that front line to keep. real price discovery and real money out of the system he preserve protect or of the out money and all the fake price discovery that goes with it and all of the financing of wars and corruption that goes with it all the nickel and dime ingin and failure to perform even basic banking skills that go with it the ability to pay off the billions and tens of billions of dollars of fines he's been levied because of his law breaking his recidivist law breaking over and over again and now

his day is just about over i suspect he'll be retiring in the next 6 to 12 months because out of utter disgust and shame he really needs to just leave so they were fined $37000000000.00 over the past 10 years since kaiser report has been after on air and we've focused of course in that time on the crimes they were committing like the rigging of the precious metals markets we were talking about in 2014 in this article he does also point out he's quoted as saying that you know only criminals who use bitcoin at that time we were discussing and pointing out the the evidence that there could be some manipulation of the precious metals markets by j.p. morgan we had experts on who were pointing that out and of course it's only in 2026 years later that the department of justice were actually building a rico case against some of racketeering mafia like case against them and they settled and got to get away with that but in the meantime here 2020 after you know they went up against us they came up against us using their orthodox thinking using

their white ivory tower sort of thanking their status quo thinking and that they believe all the media hype around them that he believes the headlines when he's put on the economist magazine are one of these big influential magazines the financial times and told he saves the world well he believes that we're lucky in that we don't have that we have had our docs thinkers on our show we try to look at you know a contrarian view of what is the. going on the markets so now 2020 there's no choice for him he's they can't the lies have just become so huge the denial of what bitcoin was and we have this headline for years j.p. morgan was skeptical of bitcoin now the bank's analysts say its value could triple challenging gold ok we said that years ago here and now they're analysts who

get paid a whole bunch of money to just look at kaiser report and repackage their content into when a report that they charge their investors tens of thousands of dollars when you know they're saying oh it appears that millennial slike big queen better think gold well they're capitulating so throughout the whole 678 years that they've been down you know bashing breakpoint you have to understand that's just deferred purchase right they only will be forced to buy it eventually just like peter schiff well and paul krugman and nouriel roubini and every every big claim basher will be forced to buy bitcoin at some point because money is collapsing in the world is going from take a low blows ation to extreme localism and the only way that can work is with the hardest money in the perfect money and that's what bitcoin so if they want to live on planet earth to continue to live on planet earth they will have to buy bitcoin there's no if ands or buts and the only the only question is at what price do they get in will it be 100-200-4000 extension 00 i suspect peter schiff will capitulated

$50000.00 men will probably capitulated and run 100000 just to stay close so probably capitulated at 250000 but they're all the all the dominoes will fall i am gary 100 percent guarantee you i guarantee that this is 100 percent truth 100 percent capitulation every bit coin basher sense 2009 will be going 90 to 100 percent decline in the next 18 to 36 months i guarantee it and another important thing about this. is the importance of doing your own research you know listen to the orthodox status quo ivory tower sorts taken their advice and listen to what they say and then listen to somebody like kaiser report where we try not to be too status quo promoting and look at alternatives and so obviously we were right i mean at the time his daughter i think her name is laura was famous for buying decline at

that time she obviously was surprised report and bought because of us right in ed warren buffett to that list still capitulate as well i mean there are different layers of sort of investors institutional investors so like when he has 20000 and takes out its old all time high you'll see a whole bunch of more conservative passive investing many money coming into the sector partly because that's the way they have to do it they have to wait to a certain price a certain size a certain marks market cap so that's part of the reason why you're never going to get like a g. 1st mover advantage working with somebody like j.p. morgan although i have to say fidelity which is a huge conservative bank they were very early and i'm big question and in 2014 when jamie diamond was spouting out that this was a terrible investment and a terrible store of value in fact fidelity which is a privately owned bank it's not publicly abigail's a visionary abigail johnson is the c.e.o. of that company and she allowed it to happen right does she have the

intellectual capacity to allow the protocol to stimulate her in ways that got fidelity involved in a major way she's a under rated major player in this space people talk about michael saylor they talk about jack dorsey over at square abigail johnson is actually the biggest the 1st major corporate executive to go along because anybody in a huge way because not only that they wanted to mining mining. but you have to also put that into the context of the time her cohorts her competitors and what the government of the united states was saying at the time at that time they were also agreeing with jamie dimon and jamie dimon can't think for himself he just says what the government's going to say and ok it's for terrorists for bad guys it's for and it's evil don't use it within that context it's how she stood out amongst all her peers and her competitors to move fairly into bitcoin mining and loads of research

predicate word about how rising prices would increase rising prices and that would boil down to asset allocation so there's a proud 100 trillion dollars floating in the invest the mint market around the world and you've got the money managers who are guardians of that $100.00 trillion dollars have to usually go by guidance suggested by asset allocation so they've got stocks bonds property commodities and they've been allocating to some small degree on a microscopic scale really bitcoin but as the market value because now it's happened trillion then a trillion and then several trillion little socially show up as a class comparable to precious metals and then the $100000000.00 by the fiduciary responsibility by the legal statute they must allocate to take advantage of the total investment opportunities globally and the so that right there what

triggers another multi-trillion dollar rise in the ass in this case bitcoin yeah and let's tie those 2 together in a final chart and a quote from that j.p. morgan piece because they said that the older cohorts i.e. boomers and above preferred gold while the younger cohorts prefer bitcoin as an alternative currency said the j.p. morgan research note you know part of what we've been seeing over the past 1020 years 1011 years of us doing crisis report as we said this intergenerational force . turning situation of the boomers who created this amazing scheme for themselves you have to give them credit in $1071.00 when they were 1st coming of age they untethered the dollar from any semblance of wealth creation and they got to be 1st in on a pyramid scheme it's a pyramid scheme and we all know that and they're lucky that they got to be the 1st ones and however as that disintegrates and de globalization starts because of also the 3 cities trap and because that's happening so fast because of the policies that

the boomers themselves like clinton and and all his financial advisors like robert rubin and larry summers they set in motion the 3 cities trap whereby china would be able to rise so fast so there's a lot of turmoil that you know this election won't decide but it's only going to continue to accelerate because it's already set in motion he can't stop it so that is usually the time when you go into gold so here's a chart to say like well let's look at what gold versus bitcoin are doing well gold has not provided a hedge against recent equity volatility bitcoin meanwhile has crushed it and that would go with the volatility is being caused by the collapse of the boomer and their rule of how they rule the world in the financial system that is what's disintegrating so it makes sense that gold would not respond it would go down with them whereas bitcoin is the rise of the millennial and generations e.

and these generations coming up of what they're they're going to inherit the world and it sounds like they might have a positive impact right and people know about program training automatic trading artificial intelligence because relative strength against gold keeps extending for a greater duration and at a greater amplitude the program traders are the computer traders will allocate more they'll be more asset allocation on a relative strength basis and that will be done without any human being even making a move will just be done by the computer yeah but that's the status. and that's what c.p. morgan and jamie dimon were listening to we were out in the streets looking at the people in the arab uprising at the indignados at the global insurrection against banks the occupation so we were seeing this and this is why we hold you back and 2011 to that because the new gold we said it was the currency of resistance because we said that 2011 and it would be funding the global insurrection against banker occupation and banker that means jamie diamond who will be out of

a job well we're going to take a break and when we come back much more coming your way. the maternity town the slums go in and you may never get out of. my teenage gang rules here because i don't want to. be my. name he will. kill.

her. and melanie when. the mccain. police all i see.

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 then escaping climate change poses the same threat right now alaska does seem some of the fastest coastal erosion in the world lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. is fast paced the river is $35.00 closer than how many. years or i don't think we're part of america or earth from.

welcome back to the kaiser report imax keyser time now to return to our conversation with dan collins' entrepreneur extraordinary he was living in china for 20 years became an expert been on the show many times wrote the china money report welcome back dan. i want to pick up where we left off talking about and finance all set to be the biggest i.p.o. in history chinese financial media connected to jack ma of course of alibaba fame and you mentioned the statistic there about in terms of the volume of business they expect to do and i think you mention 80000000 enterprises or businesses would be hooked up day one to and finance a contrast that with j.p. morgan they did a story that just came out that they want to compete with scare square so they're going to launch a card similar to square for payments and when it launches they hope to have all of

2000 customers wow whoop de doo so anyway let's talk about in financial support it seems like this is in keeping with the theme that china is just a different whole nother level right now and could it wasn't called it that did it it's been going on for years and so give us and talk about and finance all fascinating the premisses the mean financial is very important as we talk e-commerce through to the world the e-commerce china today that e-commerce book to 3 times literally with the united states is for e-commerce well that's been don't buy it for me and julie timana. either need to connect heating 1000000 merchants 16 trillion in transactions last year is 25 times bigger than p.p.l. more importantly it's almost friction is frictionless e-commerce in the church 0.01 percent on peanuts. compare that to what you're charging on credit cards here in united states or if you want. you know in financial moved into loans so very low

cost loans over here we have interest rate apartheid credit card rates at all times price it financial is creating a economic and financial system for the people that's what they're kind of focused on creating that space where banks have completely failed miserably whether going around us we saw a recently broken sex a $3000000000.00 fine for ripping off the lead and so we will fund j.p. morgan is $25000000000.00 in fines from 2011 to $24.00 teams you name it live or redeemed hiding losses fraud around toxic mortgages and then everybody's favorite manipulation of precious metals market right there this year that's almost a $1000000000.00 so we're in financial bill been creating the new financial in tech space our banks have been going around ripping people off their cannibals they're like if you look at i courage listeners to just google j.p.

morgan list of the fines it's like a rancher read sheet for a serial killer i mean if anyone looks at this how are these people still allowed to business that should be shut down well that's what concerns me is what that's what we know previously what's going on now what's going to go in the next 10 years as we go into this system how much fraud is going to happen with these dinosaur banks in the u.s. so financials kind of the model just like our way we kind of wait well what strain it doing you know they have leap frogged us technically they've leaked progress in infrastructure their deep in financials no good in the financial space it's going to be the law you know largest i.p.o. that's ever been seen it's going to be worth half a trillion dollars by next year so yeah i mean what's going on there watch that space as you mentioned we've been talking about it for years now you bring up an excellent point that you know i think banks to pay flushed out a lot of bad here so we're told often that financial crime is a victimless crime that when goldman sachs and j.p. morgan are caught breaking the law at def. they pay

a fine and that should be sufficient eric holder under barack obama restructured the judicial system in america created a class of protected bankers that were above the law and by by decree and of course that money printing that the us has done has masked. the deleterious impact of having runaway fraud and runaway looting and stacy herbert will often quote the famous basquiat quote of when looting became a way of life it trickles down and becomes a permanent structural feature of your economy. so now we're seeing the victims of this by allowing these banks to escape any penalty for 1015 years now we have allowed china to leapfrog with and finance all and everything else to come for that to become the dominant superpower in the world

it's not the again it's an empire the us some pyar committing suicide not it's not that china is being aggressively trying to take over the world they're taking they're becoming the dominant superpower by default because america has abdicated they have walked away from the table they stopped competing they relied on money printing and speaking of money printing. the i.m.f. calling for a new brant woods so why america it's a vestige of america and the federal reserve in the new york fed it's just the money printing catastrophe this new bretton woods they're waking up to the fact my god we're about to lose to china so what will be the result of this new printing words will china laugh and just say well we've been buying gold for 20 years and we think we have enough gold to support our economy we don't get we don't care what you do or what they seek

a seat at the table or what's the dynamic there dan good question and. we're living through a historical time to read a new britain with britain would. the money which more concerned me as it looks like there is no stop to endless money printing in the west europe us there is no base case where we get out of money printing most of the non chinese rule has been sucked into 0 percent interest free. u.s. is the last one standing that hasn't been stuck there but they're on their way i think most people are predicting that we're going to hit 0 percent interest rates as well be payments to get out of this cool bit crazes which has been modeled in the west is just going to continue to go leaps and bounds what china will demand in a brick woods is we've talked about this here as we talk about it the writer there and be the petro un oil the oil flows are now out but mainly to china they're getting put into r. and b. you're going to arby's increasing faster now it's back up to $6.00 or so you know that r. and b. is gaining against every currency in the world i think eventually the china is hit

and has seen reason and they're going to make the r. and b. equal partner in the world to the dollar in the euro and eventually people are going to move to it because you're token networks chinese you're electable going to be chinese your financial system going to be chinese because as you mentioned we've advocated we don't have any we don't g doesn't build power plants anymore they treat eastern european low. the banks just go around manipulating markets they haven't created a technical platform to create frictionless e-commerce and united states we have a few standouts we have you know you're a those as in your you know most without you know a guy like you lot of money you still would be in the combustion engine trying to be either lunch in electrical car so. yeah where you know we need to step back and look at that we are getting replaced technically financially that it's going to bleed into the military so there are a whole nother topic we could talk about but i would i would say today u.s.

has lost military supremacy in a so china sea eastern sea that will go global over the next 10 years you know we've talked about them a little bit on the show before but where this ends up yeah i mean how do you even get out of the money printing the u.s. there's no clear path how we can even xscape it at this point and it's not like this is unknown for people around the world they race and they covered up all what's found most people in. economy see china as the number one economic power including germany where just 15 percent saw the u.s. as number one and you know it so this is an emerging story that nobody in the u.s. want to talk about on cable news sunday say fox news etc this is not a story because they're busy covering the salacious bedroom antics of the oligarchs and their friends around the world that's quite sad so let's move on let's just you know forget about the u.s. it's now a has been country let's talk about the real stuff happening in the real country of china what's the latest on the belton road initiative how's that go an adult

a road is just continue unabated as you know we talked before it's basically a global you know it's a basically a new lens release across a lot of the developing world expects the central asia it in serbia you talked about countries look at china as a leader who talk to east europe east europe you know general of the 16 plus plus one they own the ports in greece they're building highways in montenegro. you know they're going to try to do with one bill you know not only across land but across see there's been a lot of you know in a lot of it's western propaganda that's put against them and you're falling to a chinese debt trap but you know the developing world is looking at this going ok but i'm getting ports i'm getting electrical grids i'm getting roads what are you offering us isn't around we can't build anything we can't build infrastructure own country let alone go out there and build if structure in their countries and china's commentating with money nor any years labor workers and.

the new you know we're going to try to build a neato in asia against china with the rest of the world's going to you know make the decision what was trying to get off me and what us can offer this is part of the new cold war a few cities trip that we've talked about before right so let's play a game here you now lead america you've got a day at the china situation. what their policy is bake i go through sector by sector i think one of our weaknesses has become our government leadership all right these are not smart people are not well informed people many of our institutions have failed us we need to look you know you need we need to look at i would keep a lot of the duties on china just level the playing field against mercantile this economy that would bring back manufacturing that's at its core the 4th industrial revolution is happening which we're not even a player that's networks factories. high-tech 3 d. printing we've got to put we've got to go back to having our individual r. and d.

labs so if you want to money print let's go money printing great national r. and b. you have like we used to have a bill labs and let's you pure r. and b. we have to get in the accounting system we have to look at we treat fixed asset investments like chip plants as is a curse on our balance sheet trade trainee subsidize chip plants we saw it a sports stadiums so there needs to be a whole cultural shift back we need real education we just we throw money at things and we think that fixes the problem it doesn't but we throw money at health care costs go off the jerks we throw money at education our education costs those off the church we need real practical approaches we need to step away from ideology to the left and right we don't need to reinvent the wheel we need to go around the world see what we're trying to recreate our system our tax systems are we tax productivity not consumption we're basically a consumption attorney this points you want money tax that you got to get the financial books in order of the country but once you bring jobs back everything

else will take care of itself always sort of problem sort of go away and the country can be rebuilt but we have to recognize we have a problem our academics are our economists in this country are an absolute feel here for 30 years of talk about you pretending they know something they said look at industrial belt cities just rot away you know we're going to take a look at him the whole later step is like the soviet union in the fifty's and sixty's they're all 7080 years all been there for decades and don't know what's going on and then they collapse so we're at a priest soviet union the collapse clock is ticking down collins for president you've got my vote and after this show you're going to get probably 5 or 6 more votes congratulations thanks for being home cause report thanks max right and that's going to do it for this episode as a report with me max kaiser and stacey abbott want to thank our guest dan collins entrepreneur extraordinary. until next time by you know.

a while before why all of you went out with the wife. in the soil or how do you think it's the fault of the clothes. and then they will. call up top that up one it'll develop oh my. homey a cold one it. may start early. 6 6 2 in the 1920 s. and thirty's several 100 african-americans moved to the city bunion and many of their descendants still live in russia. again at the most because they know no rush

but us the upper stuff gets to be truthful going things. back home black american suffered from racism and a complete lack of prospects. of the real be a losing one by elsa store on the by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all similar to be. true to your new. found great secret. to the moon if you go on to go you. know almost a 100 years later history is repeating itself made great by the choice time when suresh. probably the worst time to go anywhere. why not me. when i come here.

fighting for his life a priest is shot outside unorthodox church in the french city of police so far have not confirmed if the suspect they have in custody is responsible the incident comes just 2 days after a terrorist brutally murdered 3 people out of a syllable in east that investigation is now zeroing in on the killer's ties to extremist groups and on his family deny any involvement. my son does not do such things he couldn't even hama cheek and i want the truth we are enormously show. before we stand against. the british prime minister says there's no alternative as he announces england will go back into a nationwide lockdown after a surgeon called 900 cases. i'm afraid for thursday.