i think 7 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 extent 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 to acknowledge exist as a mame 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 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 there 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 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 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 in stock 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 247365 get 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. and have 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. is open for business we're 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 us 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 m 2 money supply and here's you know joe wiesenthal center aka miller which when are you going to guest understands more like the met the the fundamental story behind this increase and 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 wishes in 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 scientist 140 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 and 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 money is collapsing just so you know it is almost summer like here in north. 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 on that big line dad or next door i'm having them chop down i thought you can say it's a defibrillator as i thought it would be 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 u.s. dollar look at what the actual biggest most famous investors are doing stendra miller has 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 stem druckenmiller said i'm going to go very very short the u.s. dollar you know there's a ministration same sibylla like they also policy in washington. but on. a lot of our u.b.i. well a lot more than one mt mt mt magic money terry printing blow up one such assange little or have a. great great administration great country well you know works 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 us economy because they saw that the. 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 in ordinary person got sent all sorts of checks and free unemployment benefits and stuff like that but they saw that even war went to wall street and thus the gap between the wealthiest and the rest of us blue wider that's right to money printing created the gap yes and the solution has a print more money which is going to create a bigger gap which is going to drive standoff and miller to go very very short the us 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 the you know 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 you're going to watch this episode 1658

you know. they told me i should have should have listened to them yeah exactly. there are data. break don't go away recovering back. join me every thursday on the alex i'm unsure and i'll be speaking to us of the world of politics school business i'm show business. no it's true it would seem that. good.

and bad and it can matter. and a bad national. and i mean i. just. feel some miles on them that has you. and i and mother. and national shaken i know how much much i shan't. let us know how to set the community into bed all small and. not give. this knowledge in the most you know me you know the feel good. personality and know it and when i might. see my name you had that. he must not conflate all elites with corruption there are many bureaucrats and many

public servants that are salient that are patriotic that know what civic duties and that if anything must be associated with a new order that comes it comes up that many of the success stories and this is the one. intelligent leaders and these 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 clear and which have no blood on their hands come in and manage this with us. 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 always a pleasure max so i enjoyed my chats with you fantastic now let's get into the south stand dr mellor 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 options 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 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 the suring 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. and 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 authors and. this is why there were solve honorable to a raid by the reddit crowd 2008 it was official a made a law that make a chart sallying has to be illegal up until then it was merely a guy. i'd line 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 the law become 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 well i've never seen it is as criminal activity irish fact i worked 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 no more forward you want 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. will 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 the 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 regs show that sh out that address this problem and you mention a cemetery 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 take delivery of more stock than there is outstanding. therefore i should not be able to sell short more stock then 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 that and the 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 citadel capital is to bail out melvin capital was 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 did

that were french essentially g folded you know that the regulators didn't say well you know you're out of business sure or they didn't sure 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 so 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. the sentiment tom comes into place because you can't take you can't buy stock quickly enough at the 5 day settlement to cover the exercise noticed 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 arest and when i look at a map like robin hood where they allow customers not having any form of said ability requirement whatsoever to simply check

a box and now they can trade any option 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 opening 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 win too deep really to do anything about it yesterday on off and sarah you know the later of softbank 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 react it's very difficult because you're completely exposed you know when the 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 that 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 the shoe

jobson's trades that settle our in in some sort of hedge fashion you know they're just it's an arbitrage that could be reversed. those conversions boxes things like that that have no risk so i ignore all the big trades fair enough akermanis wreck specs thanks ring unconscious a 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 by a. he

must not conflate all elites with corruption there are many bureaucrats and many public servants that are failing in their patriotic civic duties and that if anything must be associated with a new order 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 clear and which have no blood on their hands come in and manage this process with us. new gold rush is underway and gonna thousands of ill equipped workers are flocking to the gold fields hoping to strike it rich. as. children are torn between galled. my family was very poor i thought i was doing my best to get back to school which side will have the strongest appeal. in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of their descendants still live in russia. nor now watch for us though up.

on things on their way. back home like american suffered from racism and a complete lack of prospects. in the real. one balcer store. so they decided to leave everything behind and start a new. in a country in which they knew almost nothing at all some of the african americans who were there to serve your new. found great secret. lulay is the if you don't belong to both you and now almost a 100 years later history is repeating itself my great grandfather george times when said russia. probably the worst time to go anywhere why not me. let him i come here.

donald trump's 2nd impeachment trial and that with a 2nd acquittal within the u.s. senate voting to clear him of inciting the capital. washington has sold more than a 1000000 barrels of oil seized from iranian tankers raising questions about who actually gets the money. and at new york's governor comes under increasing pressure over massive under-reporting of care home deaths during the pandemic we speak to the daughter of a victim. are

broadcasting live direct for us she is in moscow this is our 2 international and sean tom.