riots broke out in several u.s. cities just hours off the new president joe biden valves to overcome the deep rift between democrats and republicans. we must end this civil war. the pitch blue. is in the ground running biden says he wants to extend the keep control freak with russia but at the same time not work to hold moscow to account. to you

moves a step closer to introducing vaccine passports despite from several member states. because a report in just a few moments when i. need. to bring you right up to speed on the global morning headlines join us again that. i am max kaiser this is the kaiser report i'm going to teach you something about finance is called the rule of 72 you take the rate of return he divided the 7 to 0 to tell you how many years before you double your money so if you make an 7 percent here 7 goes into 72 roughly 10 times so you get to double your money in 10 years what if you were compound thing at 70 percent that would mean that you're doubling

every year 70 percent compound of doubling every year this is all going to make a lot of sense once we get into this with stacy right so we have a new administration and the united states and the party controls all houses of money printing rates that they us congress can authorize new money printing and this in the lead up to what was already happening so who knows what's going to happen next in case you really did miss us money supply is growing at a pace of roughly 70 per cent on an annual basis that is just crazy here's the chart and it goes back to the mid seventy's you can see max and i have for most of our lives had like a relatively normal ups and downs business cycle the sort of cycles that we used to have across the economy allowed in the conning me well this is you know the

beginning of when they started intervening really hard with you we will blow up but now the money supply is bizarre that means it's going to double every year so we go from 326212224248 within a few years we're going to be printing a 100 over $100.00 trillion dollars which makes sense because the economy's encumbered with almost half a quadrillion in debt. and other film liabilities so this is the beginning of the venezuela is a bowl of juarez a show of you will see in the in the litter bins across america. dollars paper money being thrown out and told of garbage i think it's probably why if you look at the previous empire the us which was the british empire they came into conflict with china as well right and then the opium wars because china would not import anything from from the united kingdom like they didn't want any tweed they didn't

want any of scratchy wall products they are like no thank you we don't want that so they force the opium on i think you see that rising tension as the money printing started picking up especially post 2008 you see that increasing tension as a reason to you know they're setting up their default situation because we already defaulted in 1971 when we went off the gold standard but now the next the fault situation has to be like we're going to write off all these debts you know the several trillion that we owe china we're just going to write off because obviously they're bad actors they're hostile so i think that's what we're setting out for now in terms of this $1.00 trillion dollars plan they want to pass straight away to go to coincide with the 900000000000 that was fast and december i mean these numbers are just so crazy like i remember in the beginning of this whole process back in 2008 when the financial crisis was happening right during that election and hank

paulson presented congress with $700000000000.00 a week of requests and he said and it was like one page and he said well we didn't want to ask for a trillion because it sounded like too much now it's like 3 trillion last year while the 1st half the year and then a true almost a trillion in december and now another 1.9 trillion you're like well this is really starting to add up right well. here's a stream of tweets from jason furman he was a member of the council of economic advisors to president obama and some very left wing progressive sort of economists and here are some of his thoughts on this he's excited about the $1.00 trillion dollars pet plan but he says it is very large together with the december legislation it would be around $2.00 trillion dollars which is that about $300000000000.00 per month for the 9 months that it is in effect for context in november u.s. g.d.p.

was about $80000000000.00 below pre-crisis trend and compensation was about $20000000000.00 below pre-crisis trend so total pre-crisis trend decline was one $100000000000.00 a month now we're going to print a $300000000000.00 and want to make up for it for a member 2008 the global financial crisis hank paulson went to congress and demanded 7 $100000000000.00 to bail out the banks yes ok so at the time we said that a barack obama is a ministration could have bailed out the debtors yet is to say that mortgage holders of the credit card owners i would be eventually less cost to america than bailing out the banks because the banks have become a busa when they would keep leaning on the administration for more and more of that ended up being closer to 17 trillion dollars that mail out and what we said in 2008 right here on this show was that because there was no attempt to reform what the banks had done in the global financial crisis was caused by the banks who were

hoarding the cash they were sitting on the cash they were lending it they're saying nobody wants to borrow any money from us so we're just going to hold onto it and we're going to invest in assets for our prize clients and they're going to buy exotic art and vacation homes and those prices will go up to 20 percent here every single year for the next 10 years but nobody out there in america really wants the money or needs the money so we're not going to give it to them we said this is going to tend 12 years later cause a repeat but it would be $10.00 to $20.00 times. source ok here we are in 2021 exactly as we predicted they did not reform the banks in fact they just expanded their credit card they expanded their capacity to print and borrow and spend and give away the cash to their friends causing now this huge crisis this gentleman is correct that it is an enormous number and b it's just going to flame the fire of social unrest. hyperinflation because into $500000.00 thank you politicians being

a bit coin billionaire right what he means is that we're all pretty much going to be of like if we have a why mar germany sort of situation anybody with any hard assets you own a home you own car like things are going to be rocketing in price if you own even like once a 2 she's worth a big corner member in one word germany the exchange rate for the german currency went from one to one with gold to a trillion so one yeah yeah so there were trillion era since that were set up and in my mar germany now again this guy jason fermin he is a bit concerned he looks at the numbers and says there is the one big problem with this if you look at it from a top down perspective advocates of stimulus often point to multipliers like 1.5 or higher in this case the hope passed to be that the multiplier is much lower otherwise this would bring us way past what the economy can produce this year so that's that's him saying an academic speak that we don't want really high inflation

because the multiplier what especially he's talking about is when the government prints up the $700000000000.00 like you're saying that was treasury money that was the u.s. government printing out money to give to the banker $700000000000.00 well obviously there wasn't much of a multiplier right that it turned into about $200000000000.00 worth of g.d.p. we get it and they pocketed the other 500000000000 for themselves so when you give it to ordinary people who are living you know paycheck to paycheck then the theory is that you know they go out and spend it they you know they make their insurance payments on their car payments they buy food and they go on vacation they spend it on like bankers and so that every dollar you give them should boost the economy by 1.5 dollars worth of g.d.p. growth but he's saying that's too high that might be too much considering that we're not actually manufacture. bringer producing any services here so that could cause big inflation payment they've been arguing they want inflation now they're

saying they're going to print some money and if they get a g.d.p. a multiplier that would indicate inflation that's they don't want to place and so this is a clearly duplicitous policy of not wanting inflation and wanting inflation that by the way results exactly as it always has in a few people getting all the printed money so i don't know how to describe this as anything other than institutional corruption well get you will borrow ready that's what i said yeah it's a real bargain it down now got a wheelbarrow full of cash now i got a ham sandwich a coffee 5 trillion i'm living in the usa. well what max means is that if there is hyperinflation that's like why my germany and what you saw why mar germany at the it's everybody became trillionaire is essential if you had to of course carry all your wealth around in a wheelbarrow in order to go buy some bread everybody is a chilean air and some bum point you know you can buy a one trillion dollar note exactly so we could all be billionaires we're all going

to be chilly there is because yes no bottom you know the dollar has no bottom and because the house don't. contemplate that it's not even like you partisan or anything like that it's just the facts are that if you throw trillions of dollars into the economy now he's pointing out that this is the largest ever economic response in u.s. history now if you could of course think of the great depression and what happened we did similar programs but which if we do we put everybody to work we built infrastructure here they're just throwing money at it no everybody is in lockdown and at home they economy is in a shambles right all the small businesses we think are closed where nope no more price signals and everything is right moratoriums the mortgage moratoriums and so we don't actually know the true state of the economy as the. problem and we're relying essentially and china to keep sending us goods because china is open for business so hopefully they don't notice hopefully china doesn't notice because

otherwise we might not have any goods to purchase we're relying on the handouts of them that they're going to keep on taking us money and that they're not going to you know that they're not going to notice that we're we're about to print up another 3 chile and maybe maybe they won't notice hopefully they'll watch the show and find out who is their lard on the terminus of strange cigs that last to go on america's become blessed to walk well you know the stomach every country has lost the lessons of what happened during 1930 s. about putting people to work and that would be china because they can like europe is also shutting down but there are presumably going to have to match our money printing that's the problem with having the world's reserve currency in all fiat's system because other countries will have to match our money printing because it's a beggar thy neighbor situation so if they don't want to have their own you know collapse in their own currency and this by the way this money printing will cause

a disruption on the 4 x. market we don't know how that's going to play out it could cause turmoil and other locations and if it causes a high inflation and agricultural goods like we saw back in 2008 by the way that led to all those revolutions that happened in the arab uprisings you know that was a lot of it was prompted by really high wheat prices so there was a huge protests and riots in haiti at the time too so we could see a situation like that as the empire the center tries to hold its its the outside of the center that gets locked out of the drawbridge and they have to fend for themselves so we don't know what the spillover effects are but even this guy jason furman who was an advisor to you know obama's disastrous economic decision and so they keep saying this could be a disaster but like let's just throw money at the situation right remember as a warning 4 years ago diggle. zation did dollars they should yeah now 4 years later we see what that means are going to take a break and when we come back general selim today.

nuclear become a battleground in the u.s. in vermont people have demanding the shut down of a local plant from my yankee is right now my focus because it's a very dangerous oh no claire power plant the owner is attempting to run the reactor beyond its operational limit this case just sort of puts a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy as are power lie with the people this case demonstrates that struggle in the very real ways. a struggle.

welcome back to the kaiser report imax keyser time out of. a long standing tradition here on kaiser report we can't start a new year without talking to gerald solenn today of the trends journal to give us insight on what we can expect gerald welcome back noah thanks for having me on the trans journal happy new year 2021 report is out the free money oh the cove a 2020 response caused a welfare income gap explosion in terms of income some were easily able to work from home many low income workers like in hotels and restaurants child kerrick cetera were not does this income gap can continue gerald in other words the cover 19 prompted this huge response from the federal government and it seems

to have caused a lot of problems is that more of that in store for us in 2021 oh much more look what's going on or you're in your non-essential business if you're just a mom and pop is it hers or hers and hers business but if you're cosco if you're a wal-mart if you were target that's ok you could open no limitations but all you small businesses got to go out of business so the bigs are getting bigger in every way and you look at the facts look at the all the merger and acquisition that are going on right now and went on as the smalls are going down the big suggesting bigger so the wealth gap keeps getting wider and you know the data what would the billionaires in america you've got a trillion dollars richer among them so no this is just going to continue to get worse as more and more small businesses go out the hotels are being bought up on and on and on a lot of people are likening these tech guys to feudal lords and that americans

have become the new class of serfs your thoughts well you. why call it we are the plantation workers of slave land let's go back to when the covert war began and that's the term that they used by the way when they launched this where at a war when a war we're in a war so everybody watched off to war where the war started while the war in america started in washington state of washington kirkland washington nursing homes people started dying in nursing homes in the cove it who's the 1st place to close down that guy with a beard the way it rings in the thing you know what's his name dorsey twitter who's going to go to south africa this instead be wary of less canceled this trip everybody could work from home then who closed down san francisco cilla con artist valley cilla con artists they were the 1st to close down you could work from home you can work from home you can work from home oh hey look at those tax stocks as

everybody is not commuting anymore and now you'd zoom in you this and that and where the tech stocks go up list year a 43 percent on the nasdaq. so they're the ones who benefited from this is the ones that started selling the series steria and you have another case of what many call disaster capitalism you know going back to the. globalization protests in turkey and italy going back almost 20 years now and through occupy wall street and the works of no meekly klein in turn books this idea of disaster capitalism writ large with this recent coded disaster but the causes of it seem to have shifted i'm hearing a new phrase and i know i know you're quite the wordsmith and love to hear new things what do you think of this new phrase that's coming out called disaster liberalism i haven't heard it before but it sounds just about right and it's not liberalism. liberalism liberalism is dead they've they've destroyed the meaning

of it. i could live sexually. it's a it's a different form of a communism as people would say it but you know what i think it is i think a sense in american is it's not the country that this was the country where you came here it was the land of opportunity so they keep taking the money and they throw it out of the presence of slave land to give them a couple of bucks here and there here and there you are right you don't have to worry take it easy we're in charge we're in control tell you what to do do this do that do this and his your money is your money shot up so they give him enough to just to keep him quiet so you've been forecasting over their trends journal you've been tracking this for quite some time and you've been saying what the civil unrest the sapping in the country is a direct result of this wealth and income gap as a result of all this money printing and it's it's tragic and it's unfortunate and we have we should talk about it even though just talking about it would according

to the the disaster liberals in washington what they would classify as a mediately is untouchable but nevertheless we must speak on this topic will the social unrest continue as the read direct result of the. plutocracy and the caca stocker see that's printing america into the toilet gerald yes in many different ways and again this is business it again is a tit as you said they would censor us to say the wrong thing or attack us hate trump love trump could you imagine censoring the president of the united states i mean if another country that we the united states wanted to attack that would be a reason for them to attack the country you see they censor the president we have to go in there so going back to the violence what's going to happen max it's going

to happen a lot of different levels you're a young kid 42 percent of the children born in the united states are born to single parents you know though your father is your mother maybe whacked out on drugs life stunk before all this happened now you're miserable as can be you're not making any money not going to school things are really terrible you think you're going to join the gang. this is going to be gang violence like we've never seen before the social unrest on one end as a divided states of america yes that's going to happen as well but we're going to look at the numbers that coming out already we said this would happen back when they started shutting everything down when people lose everything and have nothing left to lose they lose it and they go losing everything so you're seeing what homicide rates going up of across the country. so it's going to get much worse yes

right you know it's happening in the us area mines that may have them a dime in ukraine some called color revolution and some of the u.s. public officials involved in that are now being nominated by president to be in his cabinet. so. the chickens are coming home to roost a lot of ways gerald i mean you and i been around for a while a lot of the revolutions the color revolutions that knew us a perpetrator gone these countries for decades as part of our foreign policy to take the world's wealth and give it to americans it's coming home to roost we've run out of countries to invade so we're going to invade our stuff jerald here yeah i think you nailed it perfectly and yes you made the point about the the revolution in the the overthrow of the government in ukraine and with the bozak victoria nuland handing out cookies and now she's it's the obama administration is back basically that's it so it's a repeat of what it was and it's going to be disastrous in so

many ways not because of that administration or any of them it's of the whole system is a failure i mean look at the you know you you talk a little just this is what from 2 days ago united states government deficit in the 1st 3 months of the budget year was a record breaking 572.9000000060.7 percent higher than the same period a year ago and now are they going to do jump in another $1.00 trillion i love how they come up with the point 9 trillion they have got to truly you could say 2 trillion no no no it's 1.9 it's not that bad. to creating all this digital trash backed by nothing and printed on nothing this is unprecedented and it's going on around the world right i mean paul krugman of the new york times will argue that well it's just money and that we owe ourselves and there's no limit to it we can

print this debt all day long it doesn't seem to take into consideration the social unrest that's causing and the poverty it's causing and the disenfranchisement of millions of young americans that it's causing how it is it's like a paul krugman character you know he's in the media he's at the new york times how busy willfully just pushed is it just it can we just say once and for all he's a propagandist and move on and forget that he's trying to be honest in any way but yet see i call the new york times they call themselves the paper of record i call the toilet paper of record you know and we it was a story i just did yesterday on one of their pieces their articles over here about what's going on in oklahoma and how the people aren't wearing masks over there and how terrible it is and how the having is somewhere how the. how the the cases are skyrocketing so i started looking it up they loved governor cuomo over

here in new york the daddy's boy born on 3rd base knew it hit a home run you know that closed down this place and destroyed you can't go out meet you can't go into a restaurant you know what the infection rate is in the restaurants according to the new york state health department 1.43 percent but amenti cuomo executive order we're going to shut it down and everybody loves cuomo. the section rate in new york state. the death rate from the viruses in new york state 410-0000. is 107 but the new york times who that guy krugman klugman works for the propagandists the toilet paper of record they go after oklahoma because the people aren't wearing masks the death rate in oklahoma for 100000 people i look it up is 70.

but they attack and that's what the newspapers have done that's what the media has done and now the tech not receive the is in charge there is no freedom of speech you will only do what i tell you to do and believe what i tell you to believe if you believe in anybody else we have a label for you we'll call you a right wing conservative and we'll call you a conspiracy theorist if you don't believe what we tell you right while you are times i wasn't deliver many newspapers the oklahoma gerald's that's expanded. let me ask you an economic question all this money printing and they claim it doesn't cause inflation even though it's the biggest asset bubble in history certainly but are we going to start to see real c.p.i. inflation prints like food and energy and stuff like that actually going up now that the bam is broken and the ability of it to farce to continue is over gerald

yes i call it drag flay should economy's going to continue to drag down and inflation is going to continue to go up and as you well know it was slick willy clinton that began rigging the inflation numbers so they're much higher than they are now that they're reporting because the inflation numbers go up the c.p.i. goes up then they have to give more money to people on social security how that benefits and they don't want to do that so they can keep more money for themselves already you're seeing food prices in energy as you mention going way up lumber so many essential items are going up but what's artificially dragging it down will throw in there with the hospitality sectors doing what the restaurant sector is doing so that artificially brings down the number yes you're going to see skyrocketing inflation and that's why look i mean how could they not have it when they're printing all this money just dumping it in one central bank after another

and that's why i'm still very. gold silver and decline cause we're going to do a 2nd segment got to say goodbye for now though general thanks for being on kaiser report and backstabbing all right that's going to do it for this edition of kaiser in part with me max kaiser and stacey herbert special guest gerald solenn 10 a of the trends journal dot com next time by all. of these what he says my grandfather was just go particularly good good what you make one little bit higher do a little bit. and then come back it will look at them then looks they don't indicate the same time because he's moved up here the time down there.

i understand that a firm on doesn't help to lead the world in getting off projects and joy and moving toward global energy as fast as possible the planet will be young little organisms like us i used to say let's shut down vermont yankee in 2012 meet the promise that we may ensure that energy louisiana cleans up the mast and let's have a governor who's going to move us to a noble energy and move to a sane energy future let's vote for change on november 2nd thank you so much.