it comes up that many of the success stories in. the one. intelligent leaders and movements tell you know people or the corrupt elites on the other side look we will give you a fair chance and we will give you an honorable exit from the system if you let your peers which are cleaner and which have no blood on their hands come in and manage this as with us. a dark industry comes to life in los angeles every night. dozens of women sell their bodies on the street many of them underage. los angeles police reveal a taste of their daily challenge no if you're going to floyd a child here in los angeles there are going to come as you see officers going undercover as 6 workers and customers to fight.

max kaiser this is the kaiser report now things are getting dire i would say him in the u.s. dollar market let's check it out so i see everybody is very very short the us dollar the u.s. of course has been warning you for years about this and last summer we reported about warren buffett not of course ever openly saying he's very very short the u.s. dollar but what he did is he sold all his airline stocks he own and he own 10 percent of each of the top 4 airlines in america he went along japanese stocks very

very long japanese stocks as a short against the u.s. dollar essentially now we see stan druckenmiller a hedge fund manager that used to work with george soros during hit george soros his days of crashing the pound he says he's very very short the us dollar we saw with tesla he's also now short the us dollar by going long bitcoin and also saying that he might buy gold for their treasury at tesla so this is the wildest market i've ever seen druckenmiller must see goldman interview sent after miller gave an interview to tony past carrillo who is the global head of goldman hedge fund coverage this is where he told goldman sachs and this interview essentially 3 points druckenmiller short long and treasuries to take home number 2 he has very long commodities and taken 3 is also very very short the dollar well the u.s. dollar is a mean when there's nothing backing it except more money printing. and so that

would be the same cost as generating more means the same effort it takes to create a me mounted computer by a teenager living in their basement is the same effort it's a extend folks at the federal reserve bank or the treasury to counterfeit more paper money. and. as we know in the me market they have spectacular rises a spectacular crashes it didn't always exist as a mayme one time the dollar was backed by an economy that was growing by employee ease that were manufacturing and by military that wasn't effect of fully too big to fund me for the too big to fail pentagon is too big to fund it's simply too big and the dollar can't possibly do it his argument is exactly the one that max and i made quite a few months ago and that is that china and asia is open they're they're actually transferring energy and capital and human resources into wealth they're creating

their manufacturing their economies are open because of the pandemic the pandemic has locked down the u.s. has locked down europe and us and how are they compensating the people for that they're throwing a lot of money at that so he is pointing out that all of the money printing is just remarkable and it will hit the u.s. that's why he's short treasuries which of course is a widow trade but he's like short the long end of the treasury market because he says inflation is going to come somebody has to pay for all this money printing he says in fact the recession we had was $5.00 x. the average since world war 2 but it occurred in 25 percent of the time dr miller said adding that more bizarre early in the year when 11000000 more people were unemployed we had the largest increase in personal income in 20 years during the economic downturn due to massive policy support the cares act added trillions in fiscal stimulus how big was that in 3 months and 2020 we increase the deficit more than the past 5 recessions combined 173-175-1902 the early ninety's the dotcom bust

and the global financial crisis the fed in 6 weeks bought more treasuries than in 10 years under bernanke yellen corporate borrowing which almost always goes down in a recession which had already increased from 6 trillion potential and going into the crisis due to the fed's free my. policies we're now $400000000000.00 putting that in perspective it went down by $500000000000.00 they're in the great financial crisis right we've got the 3 headed vigilante coming our way we have got the bond vigilantes are coming back strand druckenmiller shorting bonds now it means that he is going to try to force bond collapse like we saw in 1993 so the bond vigilantes back he's talking about gold then so are others us the gold the jewel auntie's they were snuffed out in 2008 but they are coming back. and the big point vigilantes i've been here since $22009.00 and they're growing exponentially

now in the price of course as it goes under a chile and in this year 2021 it'll be worth more than 4 trillion so those are the 3 headed vigilantes that are now coming for the dollar the dollar is a sitting duck so again the points are take one dr miller short long and treasuries is very long commodities and he's very very short the dollar interestingly he also mentions that he is long big point but not as much as all the headlines made out to be he says he still doesn't quite understand it up but he understands that there's momentum behind it so he's going to go along that he also might fit in with his thesis he says like that he likes to you know invest in the bond and currency markets because he's a macro investor but also because they're open 247 and he doesn't like being stuck in equities over a long weekends and holidays and shutting down at 4 o'clock in the afternoon so he likes to if he's made a mistake and he says he's makes mistakes all the time he likes to cut his losses

you know if it's at 1 in the morning he could do in the currency market so to because i'm open 24 seventh's or 65 debt with the program stan you know it is right of course the cove it was like a world war moment where like the u.s. came out of world war 2 the winner then had the american century and the covert crisis we've got we've got a winner and that's china and now we've got the china china's century yes he's long he says china japan and korea so he's just with his own 2 isis like we've been reporting here despite what the mainstream media here in the u.s. reports is that. open for business where not and that has to add up right and he points out the juxtaposition of the various policy responses is somewhat breathtaking since 2018 m 2 in the u.s. has grown 25 percent more than nominal g.d.p. a 25 percent increase in liquidity he calls it in china and 2 to nominal g.d.p.

is where it was 3 years ago so china hasn't borrowed anything from their future and we've had a massive liquidity input and frankly very little investment it's primarily bench transfer payments and fed stimulus we've done a horrific job with the virus the chinese and asia in general they've pretty much defeat the virus and you know i've seen a lot of mainstream financial news sorts from sam b.c.m. bloomberg joe wiesenthal as one of them for example he mocks people who are making fun of the increase in mt money supply and here's you know joey something then druckenmiller which one are you going to guess understands more like the met the the fundamental story behind this increase in empty money so yeah exactly you know it's a disability or money printing and china applied it. and the patient got up and the

economy grow america. put the toe tag on it's done. right but again you know report reported on that we we suggested that this would happen that this would be the post world war 2 sort of marshall plan moment for china and here we have the situation and i think this is also why you know you know what they're betting on is exactly what the i.m.f. said it's time for a new bretton woods we saw the world economic forum which was opened in the opening speech the keynote speech by president xi of china so that you know they're calling for a great reset so just like all the signs were there that tesla had bought 1500000000 dollars 8 with a big point it was there if you want if you cared to see all the signs are there as well that there is a great reset whether or not the u.s. dollar can even live to its 50th birthday which is an august of this year you know

is is very much in doubt according to the greek this you know this guy hasn't lost since 1901 and he's very very short that's his big position very very short the u.s. dollar either because it's in a bubble or the u.s. dollars in a bubble flood say they are stahl or the u.s. bond market has never been a science owner in 40 years are the british killed for that reason. so it's saying about decline is a stop a bubble it's the pin that's popping the bubble of the u.s. dollar the u.s. dollar and all feel money isn't a hyperinflationary collapse against because it's so obvious if you simply look at things with an unbiased view you can see the truth and but it's difficult to see the truth with an unbiased view because especially in a world without any standers or a stand surviving institutions people live exclusively on their biases so the truth is beyond their perception but those who listen to because i understand the truth

and say see how money is collapsing just so you know it is almost summer. like here in north carolina and we do you might start to hear some people out in the in the yard like we're doing some summer sort of work prepping the plants and stuff like that so if you hear america cleaned out our next star i'm having them chop down i thought you can say it's a defibrillator as i thought maybe later is coming it's a flock of the 50 later is coming for the u.s. dollar. yeah right so again here's a guy saying he's very very short the us dollar look at what the actual biggest most famous investors are doing stendra similar hasn't lost since $1000.00 a day on warren buffett has certainly been down and he's underperformed say the s. and p. 500 for the last 10 years but he is one of the biggest most famous hedge you know value investors in america and he doesn't find value in america at the moment because he's going along japan of course you also see what is happening with the

biden ministration as they're you know starting to spout war more about what their policies might be it's just remarkable they want u.b.i. m.m.t. child tax credits not child just like child credits for every child they want to send $3000.00 a month without an economy to back it without producing goods and services that's a recipe for somebody like stan druckenmiller said i'm going to go very very short the u.s. dollar you know there's the administration seems to be alike and like they also policy in washington. a lot on. a lot of our u.b.i. . mount mount mount magic money to bury printing blow up one such a little or have a. great great administration great country well you know work for say 40 of the past 50 years i think it stopped working about 10 years ago 2008

because of the drop in face of the participants especially in the u.s. economy because they say. saw that the elites got bailed out the wall street got bailed out in 2008 and now they see the same thing they see what happened in 2020 yes certainly they got a lot of money ordinary person got sent all sorts of checks and free unemployment benefits and stuff like that but they saw that even muar went to wall street and thus the gap between the wealthiest and the rest of us blew wider because right to money printing created the gap yes in the solution as a print more money which is going to create a bigger gap which is going to drive standoff in miller to go very very short the u.s. dollar if he's going very very short the us dollar and he's also betting on the fastest horse in the very very short dollar bet. that everybody else is going to fall like we're just telling you you're going to look back on this in a year from now next year i guarantee you're going to watch this episode 165 and

you know. they told me i should have i should have listened to them yeah exactly. there are doubts. take a break don't go away we're coming back. knowing through the woods and the. blog but i'll blog. and then you're back in a can matter a canard while nice and about nationality. and i mean i. missed us but still some miles on the little human level and they are in my public

eye for. a national shift in the national association. must know how to set the computer. but i get all small so what is. there any kind of give us the impetus out of you in the nose you know me get a feel good. persona and know it then when i'm. in my name a few of the. welcome back to the kaiser report imax keyser time now to churn a frequent kaiser report guest rick ackerman of the legendary rick's pics he was a market maker on the pacific stock exchange for 12 years i think that's actually

the pacific options exchange rick welcome back oh he's a pleasure max enjoyed my chats with you fantastic now let's get into the system druckenmiller that's fund manager extraordinary never had a down year since 1981 he says he's very very very short the dollar ersatz well i've been a dollar bull for a long long time and. i have to say that it's hard to be bullish looking at the charts right now but you know all things considered the dollar has been hit so hard by let's say the stimulus and the inflation fears that that is created that but you notice that it still survived the long term upturn in the dollar's intact and when i talk about when i say that i'm a dollar bull it's not based on some turnaround that's going to happen right away and in fact i see a strong dollar as kind of a feature of the the the end game were a tightening of the dollar let's say

a shortage of supplies believe it or not centrally increases the real burden of debt on everyone who's borrowed in dollars so this goes back to all the inflation versus the flash and debate now printing of dollars and the response to the 2008 crisis lot of people said hey this is going to be inflation rick ackerman one of the very few people out there is several oh wait a minute we're looking at this in terms of day flashman so i guess here are saying more of the same but i want to really dig down with you into this wall street bets because. as manson farmer market maker in the absence of market the wall street bats phenomenon against naked short sellers very heavily involved with options. what did the campaign succeed at least in exposing a lot of the of the reg the game on wall street what what's your take on that well i've never viewed sure an interest to say rigging of the game i think that sure

thing plays a fundamental role in bow markets and bear markets and the point i made was that the kind of buying power that you get when shorts are covering is much more powerful than anything you get from merely bullish buying so so short covering is a is a is an absolutely crucial factor in driving bo markets through layers of supply in previous peaks and correspondingly in bear markets the short covering gives you rallies that are so ferocious that essentially keeps the rubes in the game you know they think oh well the bull markets back and of course we know that bear rallies only sort of get you high enough to raise your hopes that not quite enough to get you out even so. much so i think that the shorting will still be there but you know the nature of the game has changed and you're

going to see short interest diminish over time with an impact on both of the things that i just described but in this case with game stop there was more than 200 percent of all stars outstanding at band short it saw this as. make it starting a counterfeiting a sell orders and. this is why there were solve honorable to a raid by the reddit crowd 2008 there was official a made a law that make a chart sallying has to be illegal up until then it was merely a guy. i blind but here we are 2021 and we see this naked shorting this counterfeit sell orders to drive prices down rampant in many markets particularly the silver market or spend proven time and time again that most of the volume is counterfeit so orders do you think a lot more come a time when this particular. crime has claimed up are are the regulators as south

captured badly we would never expect there to ban a kind of return to the rule of law but i've never seen it is as criminal activity i backed i work once for a private eye and some of his clients for there were well known short side players and we used to do everything from rooting around in trash cans one time we uncovered a company that was repackaging sterile goods. and you know the tactics of of people who. try to go after stocks to short them have really sort of run to gamut from just sort of creating fear that the stock is. manipulated but it's no more fraudulent to be shorting stocks and i think it is to push the stocks higher you know there was you know enormous short interest in a. in equity funding

a standard scandal from years back where stocks was tied to kind of life insurance policy and the shorts got rained on the way down but eventually they were proven correct. but you know he's the when you get out there. short big positions in stocks are pretty vulnerable so they're really taking a risk of course of who are criminally rig game. they wouldn't have that risk really they'd find a way to win no matter what so the shorts get blown out of the water and and it's a kind of it's really a very asymmetrical kind of warfare because now it's clear that the reddit crowd has discovered a little trick that that it's just going to work there's no way it can without putting any skin in the game but merely going into a chat room saying hey guys check this out we've got a stock here with 40 percent of the float is it is short. they'll go after it and

it so the game has changed the way the big guys can never win anymore it's too costly for them and it's too easy to drive a short squeeze so my point is that over time that's going to force. the level of short interest is going to diminish and the net effect will be that bull markets will be less bush lacking the powerful short squeeze and bear rallies bear markets will be more bearish with their rallies that aren't quite as persuasive when there are regulations on the books thing about reg show that sh out that address this problem and you mentioned asymmetry there and i mean if a stock has x. number of shares outstanding and i decide to buy them all and take delivery of that stock i can't take delivery of more stock than there is outstanding so therefore i should not be able to sell short more stock and there is outstanding and reg show

clearly points to this as fraudulent behavior and the regulators clearly then enforce the laws and their wall street bets folks picked up on this and they exploited this as a stock one from my 20 to 500 but what was interesting subsequently was that melman capital then got a bailout from senator l. capital and the money the senate out capital is to bail out melvin capital as the money that sent it out got bailed out was from the taxpayer last year and of course senator al sets ben bernanke the former fed chairman is there a problem here rick. you know i'd have to concede that the way things showed you know there was there were figures out on the number of shares it sure didn't were french essentially g folded you know that the regulators didn't say well you know you're out of business or or they didn't for settlement of quite a few of those shares so. some of the big players i guess you could say they were

allowed to slide i don't i still don't see the shorting itself as criminal activity but yes you're right i think there was complicity to make sure that somebody as big guys didn't get hurt but probably somewhere in there or warning like you guys were going to bail us out this time but you better be careful the next time and you know there's one other factor that i guess the reddit guys aren't aware of you have to be an options trader to understand to know about this but. but auctions can be exercised when they're out of the money and well prior to expiration and what can happen really is a lot of the little guys like to buy the stock and then they do covered rights against it when it takes off with the shorts but they're leaving themselves vulnerable there because if you get a notice that you've been assigned that you have to deliver stock. based on an

option that you've sold against it. there's a sentiment problem comes into place because you can't take you can't buy stock quickly enough at the 5 day settlement to cover the exercise notice so there's a mismatch there and what you would occasionally happens is that there develops a cash market for the stock so that you know game stock might be trading for $86.00 but in order to buy it for instance settlement you would have to go in the cash market and you could pay $3.00 or $400.00 a share for it so you know i was an office trader on wall street for many errors and when i look at a map like robin hood where they allow customers not having any form of said ability requirement whatsoever or simply check a box and now they can trade any off in the strategy they want is that so that be allowed rick when you start examining issues of suitability you've got this.

amazing market right now in private equity capital and and all kinds of hedge fund activity and if you were to scrutinize all of their customers i think a lot of people who check boxes wouldn't qualify so it's open a can of worms and and there's some there's some areas where you can say yes it's just not right this should happen but we're too far to run too deep really to do anything about it yesterday on off and sarah you know the leader of soft bank in japan that's the way it's described in really want to get your input on this is that he was basically using options to manipulate his part folly of stocks higher by buying basically out of the money calls doing some off a strategy is 1st of all is that does that work as a strategy to any bully the price of a stock higher by kind of man handling the options market wrecked it's very difficult because you're completely exposed you know when they when the open

interest in a particular series increases everybody sees it and actually they see it but they don't you know in the case of bernie made off if anybody had examined the options trades that he did that he used to explain these amazing profits he was making they would have discovered the options that he was fooling with there was nowhere near the open interest in those options to account for the money that he made but in any case you know if you're trying to screw around with the options you're very exposed everybody can see what you're doing and you know typically people say oh i see that there was just a block of 10000 options to traded on on that you know here or there the bigger the trade probably the less consequential it is the more likely you know to shoot options trades that settle are in in some sort of hedge fashion you know they're just it's an arbitrage it could be

a reversal. conversions boxes things like that it have no risk so i ignore all the big trades fair enough akermanis wreck specs thanks ring unchain report thanks for inviting me on max always a pleasure all right that's going to do it for this edition of kaiser report with me max kaiser and stacy herbert want to thank our our guest rick ackerman of rick's pics and so next time. a new gold rush is underway in ghana thousands of ill equipped workers are flocking to the gold fields hoping to strike it rich here's a good. day over those that work children are torn between galled.

from was very poor i thought i was doing my best to get back to school which side will have the strongest appeal. to. conflate all elites with corruption there are many bureaucrats and many public servants that are. patriotic that know what civil duties and if anything must be associated with the new order that comes up that many of the success stories in. the one. intelligent leaders and these movements tell you no people or the corrupt elite on the other side look we will give you a fair chance and we will give you an honorable exit from the system if you let your peers which are clear and which have no blood on their hands come in and manage this rules as. with us.

major developments in the. american appeals britain's decision not to extradite them to the u.s. despite growing calls for president biden to drop the case against wiki leaks. washington has sold more than a 1000000 barrels of oil seized from naval raids on to iran's vessels with much more on the way but questions are being asked to actually get money. on the administration of new york governor andrew cuomo is on the rising pressure over. the reporting. coming up we speak to the daughter of. everything it was going on but.