the u.s. food and drug administration reveals it's now probing 5 allergic reactions to the pfizer vaccine including 3 alaska health workers. the u.k. raises the alarm over a deadly new strain of covert 19 and unveils drastic new restrictions across london and much of southeast england over the christmas period. and u.s. secretary of state blames russia for a cyber attack on government agencies although security officials admit they do not know who was behind the breach. you up to speed now on our headlines but there's more in store including a report coming up next on international. max

kaiser this is the kaiser report. stacy right well max do you know that on monday we're going to see tesla 4 enter the s. and p. $500.00 which is a remarkable achievement from just even a year ago at this time yeah it's this definitely a huge story and there's just so many moving parts to it you know and it just a reflection of where we are on the stock market where we are in the business cycle where we are in the there's just so many many layers to it what the particularly about this intrigues you stacy to look at a few items but the thing that really stands out to me is you know we've been recording from home during cove it and these global lock downs and economic

lockdown and that there actually hasn't been much economic activity and people are getting used to being just paid to stay at home and they're demanding modern monetary theory the m.m.t. free money for everybody and so let me start with a quote from ilan mosque that bruce fenton tweeted out and it's in the context of today and having to produce stuff the idea you can just send checks out and everything will be ok is wrong people have an idea that the economy is a magical cornucopia a horn of plenty that resources flow from let me just break it down for the fools if you don't make stuff there is no stuff well this is ironic i guess on a couple of different levels right so the tesla stock is worth the last i checked roughly 600000000000 dollars and i would say that 560 $1000000000.00 worth of that valuation is comes from exactly what he's saying is

trying to avoid money printing right. there wasn't the money printing anyone if you were able to get stuff from just money printing the cornucopia of money printing then tesla stock would be 90 percent cheaper but because there is this huge gusher of money printing that's that's coming out of the central banks and because tesla has nothing working against it because it's not producing anything like a toyota or a ford or some other company where you could look at the actual products in a meaningful context of the global economy and ascribe a value to it you can simply say that well we think that tesla has a meaning which is mostly a mame and in money is a mean so we're going to make it worth $600000000000.00 today and it could be worth it could drop 90 percent tomorrow and there's really there's nothing there it's just they captured the imagination now full disclosure you know i bought some tesla

. last year and you know i'm up 800 percent and i still hold onto it because i don't have any i don't have any reason to think that the mania driving tousle is it going to end anytime soon. because this is the economy that we're in but his comment is kind of ironic because he says if you want stuff you need to make stuff but if he was actually making stuff the stock would be 90 percent cheaper right there's tesla but this also space x. and starlink so he is has spent during the scope of lockdown you see all these advances coming from china as we were was covered recently with dan collins in the kaiser report you see these nonstop new things like that nuclear powered sun artificial sun it with. space x. you've seen several launches this year you've also seen all the satellites being launched so he is doing stuff it's just not that the ordinary person can't

participate because it's those are privately held companies. so he's getting to do that now with this with the publicly owned company tesla he seems to do the least amount of work that is needed and he gets to live off of the mean that he is in the rest of the economy is valued so high is because he doesn't make a lot of stuff yet at scale if you made the same number of cars as chrysler or or ever say he's been so you know on then the stock will be 90 percent cheaper the fact that he doesn't make stuff is why the stock is so high right well we're going to go into that because in this next headline from wall street dot com he talks about that tesla shares are up 677 percent just this year 2020 alone which is outperforming even big queen this year so you know that does create bitterness in people who don't hold any and you know i personally don't own and some maxed right when i saw him on joe rogan show originally he was making fun of the f.c.c. and who is participating in some behavior that some would consider inappropriate

and i that's what i double down and so i figured this is the perfect capitalist for a 2020 year this is the perfect guy and the stock isn't as just going to go crazy well the p. e. ratio is $1220.00 at the current moment and the market cap yes it's almost $600000000000.00 a $578000000000.00 there's tesla compared to toyota volkswagen dime learned g.m. b.m.w. honda and bird so as big as all of those combined they will be on monday the 6th largest company in the s. and p. $500.00 after amazon google ball and you know that sort of company right you know i mean i suppose you could think about tesla as an emerging play in the homelessness crisis because i can imagine folks basically living in their auto driven as having nothing else and then they are going to plug into the

galactus e-mail as i described it clicking ads to survive to get a few more electrical. vaults to power your tesla for another couple of miles so the in sexualization of humanity could be enabled by tesla and if you get a piece of all that then there's $270.00 trillion dollars in debt in the world you know and there's that's all been printed that's like most all of that been printed in the last 10 years really so this is worth 3 quarters of a 6 tenths of a trillion dollars in the global couple with 270 trillion you know there's no reason why a stock could be 10 trillion dollars and in this kind of environment big quiet because it's absolutely scarce and has properties that are gold but much better yes big question can get to $10.00 to $20.00 trillion dollars and valuation that is a dead certainty i am sure of it. because it's more fab driven like the holder who

urged silly putty right i mean the move the market can move pretty quickly and we could you could see a 90 percent drop hopefully won't happen in an hour because i want to be able to capture away some of that game right well in the meantime this is what the chart is showing and this is according to wall street dot com quadruple why it's chart of the new year this goes back to 2018 that was the nice time to get by some when i was down below 80 dollars no member everyone hated it back then yes because it was always just getting green credits and it's a mirage and it's a fake and if some are going to short it all the short sellers 1st pounding it with the short sales and they hated it everyone hated it down at that price they love it up here near 600000000000 well this is where all the haters really got slaughtered the short sellers they this company tesla had so many short sellers like groups online groups short selling and trying to gather photo graphic evidence that there

were no cars actually being delivered and that was a debacle. all this company so that's when he came out when he tried to fight the short sellers and he came out with a tweet saying that the saudis were going to buy it for 20 and take a private and the price back then was like under $200.00 and and then he had to apologize to the f.c.c. or whatever but out obviously that would have been a good deal had they bought it for 20 because it continued to go up and it's over looks there's a great lesson in that how he mocked the f.c.c. yeah openly mocked the f.c.c. just made monkeys of the securities and exchange commission people in the big going community need to keep this in mind the f.c.c. is nothing. that a well placed phone call can fix if you know what i mean and this is exactly what we've seen with tesla and he's also selling stock at these high prices yeah he's just selling stock out there and his balance sheets zooming higher and higher based on this stock a mania and demand understands where we are in the current cycle of money there is

literally hundreds of chileans of dollars you can pick if if you're not you know a millionaire really ask yourself what the problem is at this point well i mean you have a combination of things right so covert lockdowns started right about here before it started to soar so what happened then you can't go to the movies you can't go see the feature films you can't see a big story you can't you can't dream you can't have the american dream you can't fantasize right this is a fantasy and people are involved in and they get to see this one thing we get to see and i have to say you know space x. like i think the glory of the stuff he's done with space x. has kind of spilled over into his tesla stock so he does that as they do amazing productions with their live streams of the space x. launches that they've done and it's really tense people are gripped by is unifying the nation it's unifying the world you know he's not just you know he has multiple

citizenships and multiple you know huge factory. around the world so he's like he's a global story and he's something positive that has happened this year so that you know you know from hollywood stock exchange that sort of buzz and good vibe and dreaming you know he's enabling people to dream during these dark times and you know what the space x. on a separate entity yes sign clued into the rockets blow up in space x. if space x. were included in test the stock wouldn't be as high as it is that either because of all these rockets blowing up people would go oh my gosh we're going to short sell this one right the fact that all the risk of the rocket blows are in a separate entity off in another company to me that's another genius move but it's still glamorous and that's how i believe that's my feeling that's why you want tesla and has done well and i think you did it because of the glamour of iran mosque and the story he sells and it doesn't matter if it's real or not because in fact tesla has a market share of the global passenger vehicle market of about one percent it's

just a small automaker but tesla's market cap of $578000000000.00 is now about equal to the combined market cap of toyota toyota and lexus volkswagen which is v v.w. audi porsche and many other brands dine large g.m. b.m.w. honda and ford which is an amazing sight and they know that he's raised about close to $15000000000.00 just the fast few months so he's quitting and that does protect him from the short sellers because at that time last year when he was confronting the short sellers like they were short of cash they were running out of cash in terms of keeping their enterprise going but now they have they have enough for for quite a while they've got cash plus the thing that really hurts short sellers would be to introduce a dividend thank you my introduce a different way to fight the short sellers because the short sellers have to pay that so that's one way to fight sharks on so he's got a lot of cash he could pay dividends now i want to quickly move at the end here to this other story because you mentioned joe rogan podcast and this is something for

everybody in the audience to watch because you know you. been able to watch more for 12 years now and the likes of joe rogan joe rogan especially free speech sinister sound podcasts are becoming the new medium of misinformation and so they're basically agitating to have the likes of joe rogan taken down and not given free rein to be distributed to people online and i do want to say this is the same exact outlet that you could still though you can go right now you know do your own research check this out go google that guardian still has on their website from 2018 man a ford held secret talks with a songe an ecuadorian embassy sources say that's still up there spend disproven by mahler by the all the investigations in the senate. a man for himself who gave evidence to its investigators it's already been debunked but they refused to take it down so anybody looking to do research on this whole russia gates period of time

they would still get this misinformation and there's no correction no warning sign that the says this is been debunked right well if you're reading the guardian how fun being core. are i am going to take a break and when we come back much more coming your way. to. the west really bad it understanding other cultures and other cards or so it is. precisely because it believes every word should be poachers in a west direction. so it doesn't really feel the need to understand all the coach writing this is one of the great problems the west faces now is that it just

doesn't understand showing. you know you can't make sense or child will cause you can't make sense of joy and if you don't have a ball to really study you. room welcome back to the kaiser report i'm max kaiser time that together across chum out scarce city chris welcome to the kaiser report matts it's great to be here thanks for having me now what is scarcity the name is awesome why did you build that scarcity is a marketplace for selling it coined goods with bitcoin and with bitcoin technology we've built it because as i got wrapped into a big corn rabbit hole i was gravitated towards the creative aspect of bitcoin and

you know as i turned to its logical conclusion i realized that some of this art that was being created by these artists would h. to be become iconic and relics of the early stages of our renaissance here and then i saw some of my decor and they were to coin artists selling their works for each other and you know you don't have to be a maximalist to realize that doesn't feel right so i wanted to create another solution that was more authentic to bitcoin so we came up with some test products we did a test say on and we've been able to attract a great community from derek who's helped us come up with some amazing ideas and things are going really well so far and i saw some of my ties on scarcity are we can absolutely say. alright sell now for those in the audience who don't know what it is what is lightning network and why did you choose to build on lighting network the lighting network is a protocol built on top of bitcoin to instantly anonymously settle point payments

with minimal fees we decided to build on top of it because we created a 1st of its kind auction that used coin or lightning payments to and studly anonymously collateralized auction bids with minimal fees the way it is where. that is if you want to bid on an auction you put in how much you want to bid we give you a lightning envoys to pay that represents a small percentage of that bid amount and once the auction is over be you high as it has 24 hours to pay the remaining balance of their bid if they fail to pay and lose their collateral and the next highest bidder has their chance to pay as soon as the items pay for all remaining participants get their collateral back so you come to this from the perspective of a technologist primarily who is also i said an art are you have an art background and you came into it typically in that way primarily through technology i've been

working on tech startups for over 10 years and it was really a big coined that got me into art because i started really realizing the significance of the moment we were and are is the most pure expression of that that's a fascinating a statement to make really i think it's it is a renaissance to point out and we explore that quite extensively in our arms bill podcast every every sunday now you launched into the world with an option for an amazing work of the art from chief monkey and mosaic rocks that kaiser report will highlight in our end of the year special it's called it rate relentless optimism tell us about the auction and what did you learn from it the work of art is an absolutely stunning and it's a bit coin phoenix launching to physical decline and it's inspired by the 9 $188.00 economist magazine cover that asks are you ready for it we're on currency you know this is become a medium within decorum circles and she's monkee in most rocks they did they gave

a perfect justice with their beautiful knows it representation of it. the auction and it was our 1st lighting auction went really well we didn't know what to expect we battle tested this product industrial could but you never know and so you throw it out into the wild. and over the course of 3 days we had 19 bitters who placed it 3 bids and the total amount bid was almost equal to the bitcoin and the final winning bid was exactly one bitcoin exceeded our expectations across the board. there were many times in the final hour where it felt like the option was going to end in a last 2nd bid would come through and extend the auction time or buy another 15 minutes so it was a there was a real thriller for years now i've heard that because it suffers from a scaling issue it casts callate there's a 2nd layer of course the developer is a big client or like luck where creating the scarcest item the commodity cash item

in the history of the of the universe really and and so we have to take our time with it are we now past that are we now basically big going to do anything any other all client including and they're able can ever do or will ever do are we now kind of like past all the fun i think we're certainly going to resurrection you know this is software built on top of the core and so security is of top priority of course we won't ever move as fast as you know the least 6 years coins out there but when we do build on top of bitcoin it's going to be secure and it's going to be something we can be confident lightning networks it's typically have really far since we started working with it just over the past 6 months you know in the beginning it was difficult to set up a lightning wall that you could only do payments were under $100.00 in value for our auction we had a collateral payments up to $400.00 and the point and they were executed flawlessly

so every day it gets easier and easier reminds me of the early days of using the internet you know using a well instant messenger was a terrible experience in it but this is a stock where there is a committed and really intelligent attempt intelligence community. that's building the software and it's just going to improve over time when you make a good point there that once you leave because the tradeoff is security and that can get very bad very quickly including with this area which has had multiple hacks over the years and who knows how many that of them are there they've never bet an audit. anything on their i would say would qualify as insecure and with bitcoin of course you've got the the best and the most secure now there's another application out there spanx stop chat which is helping to monetize pat pod casts by the 2nd they familiar with the i am yet to test it out tell us a little bit about it what's been your experience because this is really

fascinating stuff lightning it's about much more than just your computer micro payments and it unleashes a whole new tool kit for active elevators and one of those is being able to stream content as well as do you know will shew send communication through payment that is built on top of the native privacy of why do you not work and stakes shot as tapped into both of these capabilities 1st i'm creating a chat app and i believe a bit you know. that sends messages over my new network in a way that's a problem it is as private as i believe you can get and also by streaming content specifically podcast content and this is just the beginning i think of what's possible when it comes to content communication using current stack might you not we're yeah i mean that with because all it takes is a few bucks and a millionaire and seto she's if get millions us

a toshiba to play with and i've got potentially billions of people around the world and an artist to come are all round and create something that catches the imagination of the world instead of the social networking companies like facebook and twitter and the others capturing all that revenue from all the. afaik it goes directly to the artists who can monetize their art syria the viral sensation of their art with the toe she's the with with bad point and they the loser in all this would be the answer media areas and those people that are gatekeepers that you know i don't not against making money but they've abused their power into the realm of censorship which is unfortunately stepped over the constitutional bounds that they should be you know. you know they should be a bang those those barriers so is this a free speech issue as well as well martin gaza lewdly you know censorship is going

to become more and more of an issue as we don't do you are into the the information age is just it's just the way it's going to be and we need to have technologies that. empower the individuals you know the same technology down around the venezuelan government should do kruk acts that also allows the citizens of venezuela to leave the country while retaining their well so it's totally democratized across the board and like any technology is going to have its good and evil at the end of the day it's necessary now there's so many folks in the in the gens a who are out the straits protest saying and they are rallying around the cause of being woke in some way they've taken the red pill and they are going to take it anymore but what should those people just be buying big point at this point as the best form of civil disobedience imaginable to defund the powers that they are

protesting against chris that's what got me in through you know i was watching the global markets and. early 2000 towns and seeing central bankers around the world just to continue down that road to him clear that they were not going to quit printing money and i started realizing the. societal implications of this specifically. you know inequality and it made me angry. responses to see it happen but then especially angry to you as an investor that i was forced to fund the system which i didn't believe that's kind of what opened me up and prepared me to be ready for decline and when you know you came back from the theater and you don't 62017 i was ready for and it you're absolutely right it's in protest of consequence. continuously we have these uprisings where people have streets in a mixed headlines for a little bit or we have

a new election and you can get a chance to vote on a new politician but that doesn't change the underlying to our narrative this is the bitcoin 1st technology that i've experienced that allows us to actually take power away from the 1st and we don't really went and put our power in to reduce them that has a chance to be more fair for everybody and look at the various generations that have come around that was just the boomers then there was jack's then we had to let ailes and jed say the gen x. crowd of course sad cultural touchstones like. clueless was a film that came out or slackers they kind of prided themselves and not really knowing anything about the same sound gets the millennial to the gender say they're like wait a minute the boomers stole everything and now we get need to get it back is that do you see this generation gap and i've got about 10 seconds there's only one chart that matters and that is the inequality rising in the world and as long as that continues to widen the social unrest is only going to increase when it did so we

absolutely need need a solution and corn is our best option christiane thanks so much for being on the kaiser report thank you max all right that's got a deficit deshon of kaiser a part with me backs kaiser as they say here would like to thank our guest chris from mt if scarce city. until next time by all. the more simple spiros menchu and you read of those lists initial what show just what that also has been. but some to publish what in a month's draw all the good of a team that you will quote them in the us want to quickly losing muscle. and washington for the benefit that it's all profit and you must say you're another

right to call it on but overall at the least most of them the us or stay do it in your muscles ledgerwood to keep awesome awesome from the still potus and you are a lot of the sham didn't want all the money. lost its was like god that only goes with that in the us those days i need some i would put in that would know more than the buddhists. join me every thursday on the all excitement and i'll be speaking to us of the world of politics sports business i'm show business i'll see you then.

the welcome to worlds apart we will heard the cliche that the chinese word for crisis is composed of 2 characterised signifying danger and opportunity and while the story itself appears to be a misconception it hasn't stopped beijing from pursuing the exact same strategy looking for silver or even golden lining see in every cloud coming confidently to repelled the call that 19 slowed down china is now said to be the only major economy to register growth this year much today on b o it's american competitor don't troll hasn't managed to stop china and joe biden do it well to discuss that i'm now joined by martin jakes former senior fellow at the department of politics and international studies at cambridge university and author of when china rules the world mr jakes it's good to see you thank you very

much for taking time to talk to us. now your book has been in publication for more than a decade now it's been reprinted species quiet at an achievement in this day and age when and now it is often gets updated before it hits the printing press and i would attribute your ability off your book to the fact that you were.