and that was meant to prevent the spread of a pandemic of bad financial debts it's meant to spread inflation rate so you diaper the which nobody likes a leaky diaper you know i don't want to be there trying to fly one of the stewards with a leaky diaper it would turn me off or whatever was on the menu at that particular time and i feel like i had overpaid for that particular ticket but the set is essentially accumulating all of the toxic debts why are they doing that they're doing it for 2 reasons 2 to prevent these banks like j.p. morgan and others from having to declare insolvency even though they are insolvent and they also do it to stop the spread of inflation because they are neutralizing the impact of all that money printing by putting it right back on the fed's balance sheet is called debt monetization and america used to make fun of the so-called banana republics of latin america for doing debt monetization and but they've out banana to all the banana republics in the one big banana split that no diaper can

possibly hold back right the nanny of the central bank at this point has always said it back to ben bernanke you are saying that they could only stop this right they could change the diaper and it would be fine the economy would return to normal but they have not changed the diaper at the diaper you know if you've ever taken care of baby have to change that diaper pretty frequently otherwise it gets pretty massy and that could be what we're seeing coming up soon because this headline from i believe it's bloomberg brace yourself for a sharp rise in inflation avoiding a longer dated government and corporate debt keeping to the very short and seems sensible classical economics largely assumes that all things being equal increasing the supply of money pushes inflation higher and yet after years of rate cut in quantitative easing and so forth the only thing that has gone up is asset prices has been apple inc as it were not out pulls the author points out that there. no

philosophy of money it's collapsed and that has cost you know the nanny of the central bank is confused about what to feed these this child these this child that is the financial system the banking system that they regulate what to feed it to get it to you know have normal movement to get on. them and when saying this for a number of years so the quantitative easing or the debt monetization or money printing press see that by central bank buying taking that money back right has its limitations because planet earth has a certain debt saturation level right we went to almost $100.00 trillion dollars now in the g.d.p. of the world is about just under $100.00 trillion dollars and the debt to g.d.p. for planet earth is getting close to 300 percent of g.d.p. so you have a certain situation where they get that saturation and the ability for central banks around for the federal reserve has bought back many trillions of dollars of the toxic assets the e.c.b.

bought back and bank of japan is the king of it all bank of england so they bought back in aggregate probably my guess is close to 50 trillion dollars worth of toxic assets and some point just the physics of it don't work anymore so that means that every dollar printed going forward because it can't be absorbed by the account chicanery and fraud fraudulent accounting of quantitative easing goes into something called the c.p.i. consumer price index and that the value of that money printing will now d. base the currency for real and this is going to be the end game as it were because once the quote inflation genie is out of the bottle you can't put it back into the bottle because the the central banks are caught in a trap where to try to stave off financial ruination and insurgency and insurrection they walled open the money top. even more and that will cause

like a mar republic type hyperinflation and we've already seen this with because of course because the us dollar is in a hyper inflationary collapse against bitcoin now for 10 years so because it is telling us that the u.s. dollar the true purchasing power of the us dollar is close to that of a full and pungent diaper speaking a foreign punch and diaper is let's look at that velocity of money and how it might cause inflation because if the fed is the central bank of central banks ok there's the be i ask that they don't print money like the us federal reserve does and they oversee their collection of big baby bankers and jamie diamond and j.p. morgan are the biggest right there big giant baby in the corner screaming the loudest so there diaper is fullest of all seeing is like somebody has to change that diaper one day and when you change that diaper all of that inflation comes flooding out and that's what his opinion writer in the bloomberg article is

pointing out is that part of what's happening is that china is booming right now their economy is booming and their exports are booming so we're actually starting to see genuine inflation that you can hide in jamie dimon stipe or prices are now rising strongly in part because asian growth is humming chinese export prices have risen year over year excluding oil industrial commodity prices are also now higher than they were at the end of last year even if nothing moves between now and late spring of 2021 year over year comparisons will start to look pretty dramatic as prices this spring were at their low point these trends are already making themselves felt in the developed world u.s. import prices for example are rising strongly durable goods prices are on a tear there are signs services inflation is also rising this is part of what you call the earth retarding about the 3 cities trap this is passing the baton from america to china it will become dominant. 21st century so the dollar will collapse

fear money will collapse but of the all the feel money collapsing the chinese yuan wall collapsed the least and the chinese middle class because there will be collapsing much less than the us dollar their purchasing power will go up to keep up with the rising commodity costs so yeah prices will go up but their purchasing power of the un will also go up and in wages will go up as the strands mission to china takes place so the us their purchasing power will fall dramatically prices will go up sharply social unrest which is already at a tinderbox moment will explode in unfathomably violent protests and but it all could have been spread vented at any any time of the previous 20 years by the central bank who just sighed and starting with alan greenspan with the greenspan put there was no market sell off ever since 1987 that the central bank

didn't decide they needed to bail out warren buffett and the folks on wall street had they not bailed those guys out even a once over the past 25 years america would not be losing its empire and handing it over to china if that mine don't blame me blame greenspan to keep with this metaphor they were using had they just changed their diaper or of the banking system at least once and now instead we have this horrible situation there's no way to address the fact that you haven't changed the baby's diaper in 4 days it's going to be no matter what it's going to be a gruesome situation when you go in there to change it and nobody's happy like the baby's crying you're crying you're stressed out the central bankers are stressed out and you start to make bad decisions and like this just to put things interest perspective the volume of negative yielding debt has topped 18 trillion dollars for the 1st time ever after e.c.b. promise to keep printing press wrong. wing for longer than expected as i'm saying

this is the central bank saying. i'm not going to change or did that for yet again today jamie diamond right that's the central banks making the diaper bigger you have right a negative interest rates are a simply an invention of a central bank to stop the natural flow of the economy and nature and humanity there trying to stick their finger in the dike of this tsunami of paper money and as that article says he says he's tightening up on the old curve he's going short paper he's getting rid of all his medium to long term bonds because one this will show up in 2 major ways down where one will be prices for stuff will start to go up precipitously and it will cause enormous problems but the bond market now after 25 years of being artificially kept on that diaper once in like opinion if you were to rip that diaper open and the explosive diarrhea of money printing spears in a tsunami of fecal matter all over america's faces they're going to be feeling less

excited about the previous 20 years they are the guy does mention the 1904 bomb massacre that everybody in the markets seems safir gotten now that he says could be something that happens and $994.00 was a huge bomb massacre and mostly in a professional classes so was it like the stock market crash or the dot com crash or the subprime crash the 94 by market crash i remember i was living in europe at the time and it may be thankful that i had been some i retired from wall street because it was a lot of blood on the streets at that time but once you know bond market crashes are catastrophic and this one could be the mother of all bond market crashes and that means that interest rates suddenly spike up so here you have a 1000000000 empty hotel rooms in america this sin 2020 and all the hotel operators are can't make their payments now increase interest rates by 500 basis points or 600 basis points or 700 basis points they've got. $2000000000.00 empty hotel rooms

in america if unemployment rate is now at 253035 percent and the value of purchasing power of your dollar just crashed against every other currency in the world in particular against decline and it's whoever's in the white house they're going to have a really challenging time well the problem with this is that our global financial system is run by the same nanny that has let this diaper situation get out of control so the dollar is the global financial grant and it's like russia and china have wean themselves off that face other nations haven't and that it's going to cause if it causes that sort of situation here like that the night before bond market massacre spilled over within the next 3 years to the asian financial crisis and so i think that's a there are knock on effects that will last if this happens for a few years afterward that we don't know yet but of course kaiser report will be

there reporting right while the number one effect will be the transition of power to from new york the city strap was coming in the next 18 months and it will be finished we're going to take a break and use the bathroom. but when we come back we'll be freshened up and ready for a scintillating part 2 so don't go away. the world is driven by. sinks. we here to ask.

exhibit a the smoking gun we'll never get out of the media any interference for the baby campaign before the election the 100 by the story was not was not russian misinformation we were lied to again we're is the accountability. more simple spiros mean sure of those lists nissho to show just what that also has been. but so progress what in the months to draw. you will quickly in the us want to quickly and months alone with. the belief that it's for profit and you must know the right at the core of the world with most of them the state do it in you mustn't those led to. the most of them it will still put you at the drop

of a sham to know what all the money. is like a bit of. that in the us those days. some of what they did that were in them with the buddhists. welcome back to the kaiser report i'm max kaiser time now to turn to dan collins c. is an entrepreneur he lived in china for 20 years now he's back in america dan welcome back max good to be back we have talked you know of many years and he gave us an insider's perspective on what's going on in china for many years and a lot of what you said really has played out in real time now you warned our audience 18 months ago long before joe biden was even the nominee. that hunter

biden had issues and china now the department of justice is investigating him for tax evasion and money laundering what do we know about his business dealings in china dan it's been out there a wildly intercept is reported on this basically got a one and a half $1000000000.00 loan from the people's bank of china which she just doesn't happen or you for as a foreigner you're not even allowed to have a private asset management company in china somehow he gets it and he's not the only one or several high profile politicians that have made $100000000.00 this way out of china but $101800000000.00 and then use that money they're given special access to some chinese i.p.o.'s and then the money comes back over here in a joint venture with edith which is the like the lockheed martin of china and they start buying up companies then and dual use military technology there's one in michigan but the bite is where basic political cover for all this so that cheney military oh i have companies. yeah it's been out there the interest it's all

reported on on the intercept. and it's all the information has recently come out would leak audio and they were basically being run by the masters of china now during the vice presidential debates race in late chinese censors cut away from pence when he answered the china question and then back to camelot harris when she was asked these questions china obviously prefers biden to trump but how do you expect this relationship to change especially in light of their last revelations that a democratic member of congress may have been sleeping with a chinese spy well if there's any young enterprising ger journalists out there if you start to look into this story the layers and sees it's massive so we could end up with a whole new mccarthy stuff no trial and politicians that have access to chinese money. it is the list goes on. and. you know the chinese have been you

know they're trying to infiltrate the u.s. the same way they would infiltrate themselves which is going rate to the top of the political networks in basically doing business with them to bribe them so it's not surprising if you understand on the cheney says that works it's very easy to lay out and you know this is not just one side of the aisle it's also the other side take a look at mcconnell's in the 10s of millions hundreds of millions of dollars in jamie shipping contracts so. it's really the elephant in the room in american politics now and now is just question of are we going to see any action taken place on i think it's pretty clear at this point that america has become a vassal state of china i don't mean i percent certain the best i think anyone who argues that point is. moron now let's talk about this there's a new bretton woods how do you think china will demand it when they all get together for this if you will where max security systems that are complete pressure

now the c.s. is done a complete wreck or the world of printing money for decades and decades it's now on completely out of control you've got money supply you know that have increased 3040 percent year over year we're really starting to see the final supernova explosion of the system we're going to go to a new britain with its people you know there's a lot of people there talk about global s.t.r. or global currencies but you can't even get the european union to agree to a common currency so or policies towards that you know towards their you know their monetary system so i highly doubt we're going to see further global coordination on monetary system in britain would if you do see anything china is going to take you know they've been taking in larger and larger shares of global institutions voting rights you know these types of things so i think we're going to see a furry we're going to see you know most of you know we're going to see a. quick quickly ending on bigger and bigger problems you see it outside the us the bubble we had a 10 year basically last and most will currencies whether it's from argentina to

turkey u.b.c. us the e.u. japan and i repeat it but now they even that starting to fray i don't know if a new britain was conceived system so we'll we'll see what happens to be clear the as you point out there is a common currency in the a you but the member states are always fighting great britain is leaving. not a coherent policy at all now let's talk about pearl harbor farsight then we had the anniversary the annual anniversary of pearl harbor of course brought america into world war 2 and the other on a wild card show erica was the only major economy standing and it gave us the american century and all that kind of stuff but now all of it as kind of life and they have given a wildcard so it has. one big economy standing post covered in that would be china such tell us about the recovery in china one of the most remarkable stats coming out of china right now i've actually been looking recently looking over this over

the whole year and it's quite interesting to go back in january february major publications like the economists were talking about crisis. nobody really knew what was going to happen or they weren't they weren't contemplating what would happen leaders that excuse. they were saying you know pray for. your facebook 7000 people are dead even though we had no idea it was coming for us bank in january february obviously and but what's inches by march trying is basically back to work so by from march you know we've been months and months and months with 0 transmissible cases. basically quickly went into action they started contect racing they did it you know bury draconian lockdown and they got it under control and as it went all over the world and. what it is done is we are living through they've been basically back to work and we kind of woke up and goldman realized wow we don't make anything here which we've been talking about on the show for years

and years we don't make any batiks we don't make medicals wise we don't make a list will go on and on the manufacturing system us has been decimated it's a service sector economy china has rebound because there's a real manufacturing sustainable economy and over here in the u.s. most of our economy is being turned in the service sector serving each other meals in restaurants and that's gone and so we're having a very difficult time now to recover here and in the u.s. and europe plus and china and in asia they had experience with a few of these pandemics not pandemics but to viruses like sars for example and wearing masks and taking precautions had already banned something address that they had learned and so unless had they had a protocol the u.s. and experienced anything almost 100 year so they were. protocols in place and as you point out the economy in world war 2 in america was very entrepreneurial and free market capitalism but that won't help now because particularly under bill

clinton as when it reached its apex america great sickly shipped all their jobs to china for a big fat clinton foundation payday thank you bill and hillary and so there's no way to extricate ourselves because the manufacturing capacity to rebuild it would take decades and there's no money for it because the us dollar is collapsing but. let's talk about some of the particulars and financial the n.f.l. public offering was pulled this was right there matic do you have any sense of what's going on there you know the ins the dan collins inside scoop that's all we need what happened at this fine at this and financial i.p.l. it's been compared to j.p. morgan to provide some character comparisons the size of this whole thing what's really going on dan we if for any actual is the world's largest creditor at this point they are one of the 2 largest. money managers in china now we're go back to the world's largest i.p.o. we over surpassed saudi aramco i.p.o.

in the valuation of the company i think the. top officials in china just got nervous at how much power this company has and they kind of just kind of told them who's the boss and old bat long term it won't stop in financial i.p.o. you financially group spawn out of ali baba which is one of the world's largest tech companies and it's basically the top leadership is just trying to gain control before you know they're probably most likely i.p.o. in next years i don't expect any long term changes that would set a follow up on the sand financial dail it's an enormous company it's as big as j.p. morgan the biggest bank in the world plus it's spun out of alibaba as you point out jack mosque company which is rivals amazon for global dominance in the retail sector and it's part and parcel of the submerging model in china which i guess one could call their surveillance capitalism where the alley

pay which is a very you know phone enabled pay service connected to all the credit service connected and financial connected to the c.c.p. the chinese government gives an extraordinary amount of oversight into people's tick tock. tick tock tick tock tick tock 2nd by 2nd lives they are literally living in the chinese communist party's living room. is that a model ultimately that will sweep the globe and what prevents an financial one point from simply buying j.p. morgan or buying goldman sachs or buying fannie mae and freddie back i've often said that china would become america's biggest landlord all they need to do is to buy freddie macin fame a from the us government that's deeply in dire straits deeply in debt right so what stops this global sea the squabble tide from doing exactly that dam yet nothing is stopping it in chain years ali baba any and financial will be 5 times bigger than

the are now they're already bigger than j.p. morgan they started out from a basis of vary from aa it kind of call themselves the new technology finance you know and what it is is these these are to say not enough people cherry getting access to loans so that you know as you know the e-commerce market is already by far china is already by far much larger than the u.s. this year singletary they did more sales in 24 hours it represents about a 5th over $100000000000.00 that reckons about a 5th of u.s. e-commerce and you will still trying to do that 24 hours a lot of this that's all done through the ali baba eat financial you know payment system they do have a view on everything but they started to get credit micro credit out to people and it quickly became the largest creditor in the world i mean they have hundreds of billions of dollars in loans out there they can authorize your loan in 3 seconds i mean they have all your credit history they have algorithms that know if you're going to pay it back or not and they have some of the most sophisticated.

algorithms around that space that even companies in the west return a hero how these guys are doing the right sound so in america to access credit to do a leveraged buyout if air let's say mitt romney over there at bain capital you can get the money in 3 seconds and then charges are. percent but the rest of america they go to a payday lender they're charged 3000 percent so china saying well why don't we just extend the same terms of bank capital gad's to our citizens and let them elevate the entire country never all get rich and. you know the difference being something like care in the us well i mean that is an accurate statement well it's absolutely accurate you know as you've mentioned many times us is in a weird form of interest rates are tied here you know it's like you know if you're in that system you get free money and if you're not you're going to pay 30 percent of your credit so if you know it's a rigged it a system so ali baba in what 10 cent leader does well with their credit programs is

trying to get money to where the state owned banking system steeliness not regional small very small entrepreneurs that's the backing that they took up so and they did it through technology so you know that's what j.p. morgan these guys us should have been doing the last decade but instead they're just taking free money and going by. manipulating live more in doing all these other things that you know busted for right you know just take your money with them signs exactly all right we're going to carry this out what your 2nd segment tank cars i survey on the kaiser report thanks very much all right that's going to do it for this edition of kaiser report was made back scatter and stays there but want to thank our friend band college and all that's time now ya'll. seem wrong. role just don't call. me the world yet to see

how he's going to cancel. and endangered. the trail. when some find themselves worlds apart. just on the common ground. problem drugs don't always come from unscrupulous dealers but from pharmacies to in every state in the united states we see a very sharp increase in the number of people seeking treatment for addiction to prescription opioids invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she just goes after dose after dose after dose and really became his drug dealer who's to blame patients doctors manufacturers all the governments.

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because i'm. getting tough on that the world's titans the e.u. unveils a major overhaul of the digital market rules which could see massive fines for online giants who abuse their dominance. of the. activists say a new crowd control tactics by french police smash and grab are a mass violation of human rights and press freedoms. congratulated joe biden on victory in the u.s. presidential election and expresses russia's willingness to work together that is after the us electoral college confirmed the democratic candidate as the winner.