zirp price discovery across all markets is shot to heck and this is referring to one of these a fox out there called game stop g m e was the symbol or is this simple game stop yeah you're seeing that correctly currently 47 percent on $2500000.00 shares of pre-market volume it was $20.00 just 2 weeks ago no there's no fundamental news behind that kind of move so it was a 100 dollars it was like up 45 percent over 45 percent in the premarket in just one day 50 percent the day before so i'm no news other than some reddit form boards like pump and dump and price so this is wildly fluctuating and the securities and exchange commission had to halt trading on this particular item last i checked 5 times in a single day and the volume is greater then traded on the proxy for the market itself the s. and p. s.p.y. i guess is the the e.t.f.

the trades the market as such there's more volume in this particular issue strangely and i don't think i've ever seen this both the calls and the puts we're trading up right so that shows clearly. uncategorically that market making him prices coverage is completely broken now if he could say it's only in this particular issue but that's not true it's really rampant across all markets stocks bonds commodities currencies everywhere you look in the world you have price discovery is broken and the ability to make markets has been shattered because access to free money is now ubiquitous and virtually infinite and so the ability to create a fair and orderly market which is what the law suggest is required in this case is overwhelmed by an avalanche of daytraders and robin hood traders and cheap money

and goes directly to the doorstep of the federal reserve bank and other central banks around the world that have allowed this to happen now up until $971.00 there were 2 ways you could anchor a market now would be either making a reference to gold or making a reference to interest rates now starting in 1971 the gold was taken off the table no more reference to gold in the currency markets and therefore no more reference to gold in any market it was all fear referring to other fear. relying on the u.s. and the u.s. dollar to be the ultimate reference currency however and leaving interest rates to be our interest rate differentials to be the anchor that is hurting the under lying foundation of these global markets but starting was 0 percent interest rates that got down to 0 under bernanke. and have gone negative under janet yellen there is no anchor whatsoever for pricing any of these markets at all so it's purely what i

call the murmur ations the starlings in the sky that are trading in patterns that are based purely on well nobody knows exactly why the murmur ations trade the way they do but this is really concerning because it shows. those that free market capitalism as we understand that term today in 2021 is officially bust well that's really important for the next segment that we're going to get into in terms of china overtaking the united states in terms of foreign direct investment partly i think because of the bust ness of you know capitalism but you know you mentioned the options and access to be an options trader when he worked on wall street but you also invented the virtual specialist technology which is market making technology and price discovery technology so what do you mean why is it i'm usual for both the volume of both puts and calls going up was the price for them to go up the simultaneously indicates a complete breakdown in price discovery because

a call is a bet on a security rising in price and put is a bet of security falling in price so if both puts and calls are going up simultaneously it means that the market makers of the options markets are patently defrauding everybody in that market so whoever is trading those let's say in the chicago board of options exchange or or any of the other major options exchanges or defrauding people the connection between the stock market which is the reference for those options those market makers are also committing fraud and the result is a retail environment is a lot of drama traders that are trading in oh and they mix of it would if it were a video game the standards for grand theft auto the video game are higher than those by the f.c.c. and the see if the c. and since then when there are supposedly regulating the stocks that reference the

companies that make the video games i know from the i was stock exchange that when i made it the technology to achieve verisimilitude with the actual exchanges my board of directors was concerned that. that there was too much wiggle room in this price discovery and i had to explain to them that that's the way it works on these exchanges there are this it's a standard is a lower than you would expect in some of these games but this is remarkable in that the market the capitalist model running the free world is in now i would say and use a videogame or a or you know it's gone tilt you know if you're playing. pinball that's it pinball from the 1970 s. it would be tilt tilt tilt you know it's done it's toast just to show you the hyper inflationary nature of the chaos in the markets that's going on as as you talk

about the central banks pushing people into irrational behavior well the game has quintupled this year this is the chart of its revenue and net income over the last 10 years as you see its revenue is actually down over the last 10 years where its income is flat right well it's last time we saw this in history was 1920 s. so 1920 s. the roaring twenty's in the new york stock exchange in new york in america he had almost no regulations and gangs of bankers would gang up on stocks and push the price around and it would all be trading on inside information and they had a great credit line with the each other and then you had a crash and then you had the securities act of 33 and 34 and you had a lot of regulations and then starting with the ronald reagan and greenspan and continuing through each successive administration those regulations repealed away and we're now right back to the 1926 set to the leverage is a lot higher so in of course in the twenty's you could buy

a stock with 10 percent down and that was raised under the new regulations to 50 percent down but using derivatives and options you really don't have to put you can put less than 110th of one percent down to control. a stock or security so this is going to end like the new. 1929 crash is going to look really really tame compared to what's happening going to happen i also want to point out that you know you mentioned the 120 s. and there were a lot of like blank check stock companies then and that's an explosion so far this year just in january since $22021.00 since the new year we have something like $310.00 sacks listed on the new york stock exchange versus something like 150 of all of last year which was the beginning of this insanity so explain what that has to do with a potential crash right like in the 1920 s. bankers on wall street decided to do blank check companies where they would raise a bunch of money 1st then figure out what to do with the money 2nd it's completely

the opposite of what you'd expect or a company build a business and then to go get some more capital to expand their business to go public on an exchange but they have to have a business before they go and raise the extra money here you raise the money 1st and then figure out what the businesses and spak says are called it's an explosion and it's being bought by other spac owners who are buying specs in other specs and they'll be listed as an e.t.f. which is a derivative of course backs so it's an layered ponzi scheme that again the leverage is probably $100.00 times or more than a was of the 1920 s. this is kind of a good analogy for the final headline here about china because since 2001 we've had a blank check economic policy like we said all our manufacturing to china and with the proviso that we'd figure out what to do one day when we we have we no longer have wealth 4 creation it's obvious it's just all this casino gulag say right we

just gambling on you know if you happen to get in i mean if you got into g.m. and made a quintuple in 2 weeks you're lucky right it's just random an arbitrary who becomes wealthy because that was nothing to do with their income or revenue it was just like you happened to be and. right stock at the right time you know it's interesting arbitrary wealth would undermine more moral values yet it's best feeding the social unrest because there are these daily lucky winners in the global gulag casino that is american capitalism and if you happen to hit this stock and quintuple your money then and you do and your next door need it and there's no way to morally through hard work and perseverance to achieve success it's purely the casino girl you're going to be resentful and those resentful and this this can become anger and then at this point we have this like 20 years later so yeah and 2001 we saw china and to the. and now china overtakes us as world's

leading destination for foreign direct investment as china's recovery gain steam foreign companies moved to pour more money into china viewing the country as a production base and as a critical growth market so new investments by overseas businesses into the u.s. which for decades held the number one spot fell by 49 percent in 2020 according to you and figures released sunday as the country struggled to curb the spread of the new coronavirus and economic output slumped of course we've been warning about this we're having the 3 cities trapped by then the sending you know more aircraft carriers and stuff over there between the china taiwan straits and also we have that great reset and this is the u.n. calling that china is now the number one for foreign direct investment it's a great research and world economic forum. and president xi spoke but opened that

event this year so i mean there is interesting times coming and in terms of like the put call options on which one wins where do you think that price is going max yeah this is what i think i agree with christine. gartner recently warned there's only want to escape and that's bitcoin because even the price discovering gold a subject of the same hyper financialization and casino go like pricing model as we see everywhere else i go it's not a good barometer yes because it was recently revealed that and i think the part mention that 321 times there's 321 times paper versus gold production actually in a year so that's as crazy as game stop right that's why i call the stop dissipating and big coin is blowing the whistle and michael saylor by the way has bought billions of dollars about the big calling recently came out publicly and told the regulators that they knew some very colorful language where they could go that he

is on confiscating a ball with his big coin and the game is over so every corporation in america now is going to do the same thing hello $500000.00 but quite we're going to take a break when we come back much more coming your way. the world is driven by dream. thinks. we dare to ask.

so you can on the phone lines smoke fight go make an incident maybe mark them up one of them for appointments november than one photos of something about. 6. blocks up was. just that they had as. she was you make them. more serious. general but from the sun on my book you go to the british course that's been up my family. i mean the guy. that doesn't want to.

take. welcome back to the kaiser report imax keyser time now to return to our conversation with lots of parties the investment manager over there equity bassman associates lawrence welcome back rex so a lot of institutional money is blown into big calling right now you know you've got the endowments at harvard yale and princeton moving into this you've got that corporate treasuries move again so this has funds or end to it what do you say to the same thing michael saylor you know guys polter jones is the best source of the race i mean there's a lot of guys who are figuring it out once you do figure it out you can't come to

any conclusion other than the fact that you know it is a superior form of let me be the artist money ever start to flow basis and you know you've got a beautiful thing go out there with that technological innovation and then you've also got the adoption curve i mean we're kind of at the we're up the 10 percent point where it's about the best to go up and i have this current quarterly report and you can just see that you know it's still widely spread i like to say everybody's job it quite the only issue is at what price you know and so i'm happy to own it now not answered everyone else on excel you've got citibank and bank of america with price targets between 100600000 they said on our show that you are looking for a short term target of 60000 what's the price action on 2021 look like for you i don't know exactly where it goes it could be 200 max it's certainly going to be a 100 if you kind of look at the typical pattern of a basal to 8 to 10 x. a bit call the base send 1000 so i think a 100 is easy in the basis moving up on the average basis i like to look at 200 day

moving over to miss an absolute no brainer to buy it all over and when i get to send a book you know you know you can either stop buying or maybe you know so little and prepare to every show when it comes back it is all we all know right well that's the history of money is that it's starts off a collectible almost into a star about. becomes a medium of exchange and then internet accounts are still at the store a value phase i agree that once it gets out over 100000 or so you'll start to see people actually use it to buy stuff like houses and cars and yachts and small countries and islands things like that so yeah absolutely now you've got let me let me talk about gold and silver for a 2nd so you are can reckon struct of and all and so far as i understand it this idea from some people that make will completely de monetize golf i'm not totally on board with that one what do you think maybe an answer to your excitement might but but certainly in the short time when you go 6000000000 people understand gold you don't have to understand. and you've also got you know the issue here and

it really changed what i said because people never go to polarize to go people never point people because we're all the same team we're trying to go to a sound money standard to prevent the c.x. of the criminality of the system that we now live in and so they both need to win and they both will where there were $100000000.00 bonanza last it's the world all the stocks bonds gas routes 400000000000 there's less and by well you know gold and bitcoin so you know think of i mean this place this play to go around you know because the fastest horse in the race on slow and gold is slower you know in terms of speed i mean the higher our goal has sucked in part because it's you know manipulated but you know it could catch up quickly if we do a reset and my opinion is that you know the whole benefit hugely and not one of the 2 of them would be an enormous the say i like to have both but you know probably have you know kind of a 73 waiting gold coin and. you know they're both going to work longer term

you know bequest doesn't really benches you know it's got some drawbacks as well but i think it's got some advantages are we in the early stages of a new commodities ball market oh absolutely look at shirts i mean it's some of this could be supply related code but that's all. case i mean i you know one thing i would recommend that your listeners go and listen to is the fall singer interviewed by. greg williams you know he's a very successful and intelligent money manager and he is absolutely convinced that he said you know i think the one thing that everybody is missing is the threat of a tremendous inflation surprise and i would have to agree i mean if it was money modern monetary people expenses you know the way people are spending money in the government i mean i just don't think there's any doubt they're going to keep pushing it until they get inflation and then they can have way too much of the issue because inflation sleeping pregnant you can have a little so you know but mahdi's are reflecting a wreck so it's back to the one $970.00 s.

style he got inflation are stagflation the economy certainly a stagnating because the cause of it crisis and if all that money printing comes around do you have inflation i heard the pa saying or interview you know he isn't saying guy doesn't like to climb by the way but i see these conflicts some mind flash in the come around it seems to me that one of the issues is that for 20 years starting with the clinton administration the world economy was opened up to allow america to export its inflation to china but now china is the new dominant country rice other they're not workin for cheap wages anymore they're leading the world so there's no place to export that inflation so it gets trapped inside the u.s. economy and we start seeing prices for stuff really go up right when you're going to see money coming back here is people realize the dollars and go you all those dollars the receipts are going back here and it's really it's going to be a slightly different place than the bikes in some of the so place that was groomed

by the ruling burgo and by our labor and by demand this is going to be currency so . you know this particular case what's going to now it was going to look at the dollar and say this thing not holding value i know it's not needed all real assets this government's out of control if you say all hyperinflation back and i know you . with point comes when people realize the policies are such a baby never turn back the policies they will have to transfer ever now because the puns they do have every recent amounts and when that happens as you pointed out really are going to move very quickly and they will you know the bond market is going to revolt and you know you see people saying you know ok so me the house i don't care who you know if i had to bring down i want that house now because i can leverage and borrow 3 percent and that's a great deal. yeah absolutely and the weirdness of it all in is that the average person is communicated in such

a way that you would have to make the case that financial news as it's spoon fed to the american population the global population is just outright propaganda lawrence there's no question a lot of people already realize that you can see you know you can see it with their voting patterns and other things i mean the problem the elites show is there are a lot more of us than them they control out of the levers but people are waking up and you can only you know be on somebody's sleigh and say it's raining for so long you know and you know people are very angry i mean i'm frustrated fortunately not all of them know exactly how and words wrecked the rancor you know the some money saying is the basis of all of our problems i mean in my opinion it really is an absolutely i you know i can we've been talking about and you've been talking about it you know you need to have sound money to build a sound economy with sound values etc so even the founders of the united states realize that and they made a big issue of it and this is

a game throughout the creation of the united states as we know it now let me ask you this a massive michael saylor in a previous sense of you he's become not only a buyer because for the treasury a face company micro strategy but he's become you know a bit of an activist you know he says probably play. that he could put untold billions of decline onto his seat trays mind a wallet and does absolutely nothing the government can do about it see just the see the chuck norris of bitcoin. no use it's our norse notes. we will obey god closes no notes either he only late but you certainly go around and you know the government can friend you out of things i don't think you can stop at the source of the current you know i mean it's your grass against the bunch so you know a strong will super intelligent technology savvy people and you know in that bet

would say oh my god said i know one say you know. we when there is there's little doubt in my mind we were at the stage right now we're at the gandhian stage where they're arguing with you know the north you know now they're arguing with us the next stages we win the thing about michael saylor you know my view is that he he is not going out on a limb he has done his homework he has done the research he's looked into the numbers and he knows he's 100 percent guaranteed to come out on the winning side of this asymmetric bet that the regulators are 100 percent guaranteed to live is the central banks are going to all this as night follows day you know as there exists the 2 plus 2 equals 4 there is he's not he's not going out on a limb here he's just stating an obvious fact and the fact that these regulators

don't don't want to even entertain thinking about it is exactly the problem because they've been in power for so long they've never been challenged it's collusion they collude with each other globally it's a cozy little club and someone just threw a stick of dynamite in there and it's blowing up in their. yes and they have no idea what to do lawrence is absolutely right and it goes further than that i mean you know i'm going to go a poster who i respect because he's intelligent good money manager but you know there's some people in my generation and other generations who just haven't taken the time to really understand what it is they don't understand the difficulty adjustment they don't understand all the issues surrounding coin and how it operates i mean it's really it's really an ingenious system and. you know it's almost like to violate human and so in my opinion you know it's not that risk you bet i mean it's risky but i think right way frustrated by sometimes when people try to shove others into it and don't make them aware of the volatility there's nothing

worse than to buy a risk and then you know so i was wrong on the get blown out of it you've got to actually take a long term perspective and i just think it's irresponsible for people pumping it without making people aware of the ups and downs because you know i was buying i bought some a 300 i bought some at a 1000 you know i was buying 70000 then it went back down to 3500 you know and i double down i mean it you know it's got volatility it definitely does and that's an issue but you would expect something is in the process of becoming the new numerary is going to be volatile we're trying to put the ocean it was swimming i mean it's you know it's going to be a bowl asset for a while but that will come down over time in my in my estimation absolutely well said you now the thing about it is that with paper money you are guaranteed a without any equivocation to list purchasing power and that's been proven for 300 years with bitcoin you're guaranteed to see the price go up guarantee the price goes up so are you willing to accept a little short term volatility or would you rather have something like fat money

where you're guaranteed to list purchasing power south that's the trade off and the volatility is the medium term disappears right pretty much it's only on a short term thing but to your point yeah it's annoying if you're buying a high end he said. you now take 3 or 4 months to recover you know there's ways to mitigate that risk to a dollar cost averaging and things like that but i haven't alas so i think that. the percentage of powerful yo managers out there who are going to start allocating to pick why it's going to go from you know under one or 2 percent right now to get down darn near everybody right it's going to be a while because it's going to go to the point i mean look at how many coins are you going to billionaires and millionaires there are you look i mean yes it's are on the roll i mean only one coin you know shows you go one point of a much lower price or $1.00 coin is going to be a big deal in 10 years 20 years and he's going to be

a really big deal all right on flop or we got to go out thanks so much for being on kaiser report. actually enjoyed it all right and that's going to do it for this edition of kaiser a par with me max kaiser and stacy here we want to thank our guests lawrence part and he's over there at equity management associates and so next time by all. these you will be a reflection of reality. in a world transformed. what will make you feel safe. tyson nation community. are you going the right way or are you.

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