i'm max kaiser this is the kaiser report well. as christine legarde might call it funny money let's get into it stacy right worst mom money because more money is being handed out and in the 2nd half we talk to dominic frisby about his new edition of the american version of daylight robbery that the history of taxation is very fascinating but it's relevant to today because as we see the money printer go boom it's the same story that's been going on since ancient mesopotamia of of men with guns as paul krugman calls them like to come around and collect some of your money or try to redistribute it around as favors to some groups of people over other groups of people well biden just said every american as much money as jeff

bezos has we should demand it worst my money joe that's what i had tweeted because you know they're getting ready for another $1.00 trillion dollars to send out and they're trying to allocate who gets at this time and of course the last go around we saw basically the oligarchs plunder most of it ordinary people did receive quite a bit but now there are handing us more money you know the problem is the money itself that's the problem so therefore the solution to any of the perceived problems can never be to more of the foundational problem and that is the money itself this money since 1000 $71.00 no fee of money in the world has ever been really now connected to anything that you would equate with a store of value it's just basically an accounting fraud essentially and the united states they print trillions and trillions of dollars they claw back some of that in

taxes which is completely unnecessary they drop it by the trillions on the. load full in places like iraq without any accountability whatsoever and then the there's always this question like why is everything so messed up why is the country folding apart why is there a social unrest because understanding than paul krugman is that is got to be the the most blind to this of anyone in the united states it's the money what's that saying something along the lines of like if you show me who pays them then i'll show you the incentive and the incentive structure is truly monger charlie munger so you know you tune into the cable news you tune into any political debate and what you see is the fact that as dominic frisby points out in the interview that you're about to see is all of these measures go back to ancient mesopotamia star as a temporary thing always the population only allows it if there is a war or a crisis so thus it becomes especially in

a fia age of permanent crisis we have permanent financial class we have permanent wars i don't know how many my taxes right now go to support around the world but there are plenty of them right now happening so you have permanent you know bad times permanent pessimism that's what that's why in big point what we call it that was the title of our new year's eve show is relentless optimism because all the incentives are not to have war not to waste it on killing people around the world that you don't even know for no reason at all so i think we can change that and it's funny because back in the medieval times the problem or despots and kings and they had the authority to just take not money but pay in kind as it was called we take part of your crop we take your party your family you will take your daughter you know we'll take whatever we want to take and then there was a slow process starting with magna carta leading to the enlightment leading to the rights of man leading to the constitution and the bill of rights where there was

power was supposed to be. balanced in the social contract as john lott called it and but what we've got now in the united states and around the world is a return to despotism did taxation based on the spurious just spurious taxation without any accountability that's a dots that we're back to the middle ages recording is holding it accountable and that's that's what you see on c.b.c. actually there are literally presenters going on there and pleading with the u.s. government to do something to stop it because the u.s. dollar will die they're saying if if if this continues so member last year and what was april or may when we had about $1200.00 to everybody under a certain income well that $1200.00 stimulus is now worth $7809.00 that's up 551 percent since then of course i mean a lot of stuff is a lot right that's that's taxation without legislation as dominic france because

that's the inflation that is happening inflation is taxation well this is the ultimate win win win for people who have a ability to see clearly the problem of the reason why because it is skyrocketing is because there is hyper inflation in america and the u.s. dollar is in a hyper inflationary collapse against big quine and the solution as we've been describing by these policymakers will always be to print more money so that means that bitcoin is on a one way trip higher because they have no other policy solution then to print money so therefore that stimulus money is up $5.00 or 600 percent it's going to be up 6000 percent it's going to and continue to go higher because the policymakers are completely this arbitrary despotism we see in washington and other power centers around the world is fueled by hubris and rank imbecility and they're just

going to keep printing and well. you know my bitcoins up 9000000 percent since i 1st bought it and it's probably going to go up another 40 x. well the hyperinflation of course is a you know it's a political event when people lose faith in the institutions that are governing the currency governing the money and we certainly see that we've seen that with the disintegration you know in riots across the world but also in america because back in 2008 they weren't i mean we had occupy wall street that happened and that was quickly dispersed but it does seem like there is a breakaway sort of group starting to be dissatisfied and i think that could be a sign of that because you know that because the price is showing you $7809.00 for that $1200.00 simula check it's up 551 percent since it was 1st issued that's like how the wealthy get to live right they front run everybody these more checks are

coming you know biden's meeting with jamie diamond and all these bankers to decide how much he's telling them what he's going to give you so that jamie dimon can make sure he stays the billionaire right and that you do you get you know the ordinary chump getting some money that doesn't inflate away because he doesn't want to pay taxes right because remember dominic frisby says inflation is a tax so he doesn't want to pay those taxes he's not going to pay them so what's he going to do he's going to buy big queen he's going to buy assets he's going to buy commodities likes them dr miller he's going to go very very short the dollar likes that dr miller he's going to you know buy. his back so he says or picasso's jamie diamond is the dr kevorkian of economics if he shows up in your office you know you've got trouble big trouble and there is the administration talking to euthanasia doctor named jamie diamond about how best to euthanize america and jamie says the best way to euthanize america is to print money well certainly the u.s. dollars euthanize the u.s. dollar and it could be better for everybody after it's gone so hopefully you know

for the majority of people. well and i don't think it's going to be so good for them though jamie dimon for the world but for the bottom 99 percent i think it's going to be better if it's not the reserve currency because remember you have to run a massive trade deficit to have the u.s. dollar as the world's reserve currency sure they get to you know be men with guns and thug thuggery and you know beat people up that they don't like like in iran or venice well or whatever and they get to shut them off from the grid but at the huge cost to your own domestic population. now we look at another big question story and of course i mean this is kind of funny because everybody hates iran mosque of course on wall street everybody hates him in the mainstream media that he keeps succeeding he keeps delivering results for his shareholders whether it's in tesla or space x. he keeps like like everybody you know kind of in the mean stream media the orthodoxy they wanted him his space x. to fail but it was brilliant went to the space station and delivered all this stuff

well you know as we covered you know he bought $1500000000.00 worth of bitcoin for tesla tesla are already up over 500000000 dollars just on their bitcoin investment nearly outperforming their entire 2020 earnings of 721000000 they've made more of their tesla investment in less than 6 months then they've ever made in the entirety on their business of selling cars yes on their bitcoin rather than tesla on there because that actually brings up they could have bought instead more of their own shares that's the standard thing to do but mike a sailor of my question added she blew that operation out of the auto because as i've explained this is based on the 1993 soros attack on the bank of england which was a speculative attack he could borrow money cheaply from these banks and attack the big bank like the bank of england to force them out of the european exchange rate mechanism and made a quick $1000000000.00 and stand druckenmiller orchestrated that speculative attack

this is a speculative attack that elon musk has. taking on the fed right so he's already going to war with the sec the f.c.c. is already going to work yes you see and he's shown them to be venal and captured now he's gone to war with the fed and sam not to buy back my own stock i'm going to take your cheap money i'm going to buy like michael saylor is done and now 500 other c.e.o.'s in the s. and p. 500 like you know what that's a darn good idea the sec is that we see is that the words on wall street the sec it's like that abbreviation the sec yeah the sec i never heard that right well you know there are all these emergencies financial crashes caused by all the fraud on wall street and all this chaos and series and everybody i remember back in 2008 the people called their congressman to pass that tarp because their stock prices went down the stock portfolios went down so of course it's permanent sense that this permanent q.e. since 2008 so you know these nonstop crises cause all this inflation in this

nonstop taxation and the hamster wail of like ever having to create ever more to be stolen ever more so i want to look at this quick headline here this is just just a reflection of the absurdity of this society and culture and economy around us in 2040 we will collectively decide to flood the atmosphere with aerosols and that's because of all that c o 2 in the atmosphere again because we have money we have this never ending need to keep on printing more in order to tax more through inflation and or does it continue our wars against the economy and essentially like we're we this is this is the way we operate as well mike judge made a great movie called idiocracy and they were watering their front lawn with a sports drink and later wondering why the grass died and then somebody who was reanimated from the past was brought back to life who had some brain cells left in

the past and he became president overnight because he knew that you shouldn't water the grass. with gator a so this is a literally going into idiocracy land now yeah the institutional levels so broken down in brazil like that they can like walk and chew gum at the same time much less run an economy i would say that's also a good analogy for all the money printing this is exactly and same as what central banks are doing and saturday is trading up in america and around the world when we come back we're going to be talking to dominic frisby about his book daylight robbery don't go away. join me everything on the alex song i'm sure and i'll be speaking to guest of the world of politics or business i'm show business i'll see you then.

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it appears. that it still has the soul of the bees and i'm going to keep going to keep them from. welcome back to the kaiser report i'm max foster time now to go to dominic frisby his the othar of daylight robbery with austin bay available all over the united states of america dominic welcome back to the kaiser report thanks very much max yeah not rober it comes out in the u.s. this week i'm delighted now remind the audience of how daylight robbery is

a term coined off of u.k. taxes and what are the most unique traits of u.s. taxes i mean it really is a fascinating story dominic tell us a little bit more about it well they express in daylight robbery it still dates back to the window tax which we had in the u.k. and it was introduced in 6094 i think shortly after the curious revolution in order to pay for lots of rules accrued all taxes rules introduced to pay for whoops and. it like a lot of taxes it just stayed for much longer than it should and people started building houses with ference you know windows you know avoid paying the tax because their windows will together an entire tenement blocks were built with no windows 2 and in those days there is no electric light was no gas lights there were no alarms really with candles and. russian lights so the to lose your daylight was no small sacrifice and it had to consequence of making the unintended consequence of making

people far more ill than they need to be ensuring the industrial revolution the down cramped windowless 2 endings contributed to the outbreaks of cholera and typhus and all the rest of it have 3 years they were campaign songs were sung conflicts were handed out scientific studies were shown to prove the tax made people a people but people still continued with it and when the massacres events you debated in congress parliament it said that m.p.'s cried out daylight robbery and that's where the expression. comes from the other expression weekend from taxation is no kaka mr parker was the tax collector apparently there's all sorts of weird things in our laws that date back to some kind of historic who tax story that we didn't previously that maybe people don't realize right the bagels and they did a song about the tax man you know it's not much part of popular culture and of course america decided they had enough of your taxes away stays the revolutionary

war to get rid of those taxes but now we're out taxing and almost out tax thing you guys after me ask this question to. me after trillions of dollars were printed and sent to individuals and companies across america last year many are now thinking why do we need taxes that alfie our world when all this money is printed i mean this is a question that comes up now the government printed in one week as. money that equaled all of last year's tax take so why even bother take why why why bother to if you can just print the money dominic i don't know this is the argument that gets used why do you need taxation if you have a magic money tree and the ounces that's given is that you need tax you would have to stop inflation never mind there inflating by printing money the statistic that i read is that 20 $0.05 of us dollars in existence were printed last year. and of course inflation is just taxation by another means it's another way of extracting wealth milton friedman called it taxation without legislate it now

it's great that you mention the american revolution and how america was built on low taxes but this is the solar cycle that empires and nations and governments go through they they hate to hate is when tax is a very low 101520 percent of g.d.p. but gradually it creeps up over time and as it does the state grows corruption grows innovation string shrinks invent it miss shrinks and it just says this. steady creek but you do need some kind of wall in order to introduce or a crisis to introduce this nice long long relationship between tax and rule or tax makes war possible taxes how you pay for so many you can under and then you tax off to its but also wool makes tax possible many this history is littered with examples of lead astronomy to introduce new taxes during peacetime and it's never works

there often results in having overthrown but with the rule you get the opportunity to impose the new tax and then after the crisis has passed taxation never goes back to the level at which it was before the crisis started and you even see that if quantitative easing is a tax and i think it is you know that would never ripping cost where it not for 2008 in the banking crisis but now it's normal and this new one coated it all sorts of printing is going on that and it's yeah the magic money tree has been normalised right now nobel economist paul krugman said that the u.s. dollar is better than bitcoin because the u.s. dollar is quote backed by men with guns i need a tax collector the arm to tax collector now the earliest human writings are tax records from mesopotamia which sad remarkably like a krugman dark times piece tell us about what you see and mesopotamia we talk about taxation and i'm sort of quite have

a lot of sympathy to me and the capitalist mindset is has a bit going on but in reality there has never been a civilization without taxation of some kind and even in nature mr to even in the hunter gatherer societies that predated ancient mesopotamia they still exist in this sort of sense of duty to the greater collective and it's interesting that would often tax is the words we use for to axes have this sort of moral undercurrent to them and in nature mesopotamia the very 1st written records rehab. that's. one of the tax records and the very 1st money we used to go see of little bits of money molded into shapes. representing ashika disk represent . and they were baked inside clay cool and then when the debt was settled the cable was smashed but then the people found it was actually quicker just to inscribe the clay with pictures instead and thus to the very 1st system of hieroglyphs and

writing. but these i mean is bit like an early book chain in a way these records of transactions have debts but the most common debt was of course taxation what lida catch was always paid in money of course because money was widespread in those days it was paid in kind a share of your produce were shared your labor and that were duty of course is yours and duty free shops at the airport meaning tax free south again and use of that word now you make the connection there ie talk about money itself and $1.00 of the problems is that i mean it's remarkable that the excuse made for collecting tax is that it needs to stop inflation or control inflation when as you point out it's the very mechanism that israeli and the money printing is creating the inflation and this idea that somebody at the center of government can figure

out and calculate well if we lend out a certain amount of money through money printing and then we claw it back through taxes and the result is going to end up being some kind of g.d.p. growth it's like a push me pull you bicycle isn't us like that and dr doolittle with us to head the drama dromedary they're going into opposite directions it makes no fundamental sense dominic well not to me i mean i'm an on a great believer in letting you know the aggregation of a 1000000 individual to say. results in a better outcome than one dying one pure crash somewhere you know assessing the lower assessing the race and telling it what everyone else what to do and you know this kind of meddling in the money system it's people have done it through history and it might not end badly immediately even eventually to resent badly and you know big corn is infinitely superior to the in the inflationary but he's transparent

it's set in code it can't be meddled with it's theft revenue breaches say everyone knows exactly how many coins are going to be printed and it's not vulnerable to the whims of some states act say for crude when to call it in feria to the u.s. dollar and you know he needs to have an argument when the only think they just own have the same opinion about what money and what money is and course now the book is called daylight robbery save got a u.s. version coming out of this book and it really is a fascinating history of money taxations and kind of a precursor to pick point other words pick because it solves a problem the problem is money and bureaucrats imposing taxes so that's the problem because it solves and it goes back many hundreds of years and of course i could have quoted shakespeare but i chose to quote something from dr doolittle because i feel that was the height of literature achievement in your country's history in my opinion now there is

a connection to violence right and right now we see. a surfeit of violence really social violence so much dominick in america they're going to be passing anti terror laws against their own citizens. and that's a direct result of money printing and family printing and you know what everything that's wrong in the world it comes back to. money you know everything that's wrong in the world is so many of the world's problems come back to this float but money is the blood of an economy and it's essential that blood is healthy and fear money is not healthy it just enables people to do things that just shouldn't be. the shouldn't be done and you know every single week come back to tax tax and money are inherently related anyone who's interested in big going will be interested in the story anyone is interested in gold the tax is how you design a society every war in history is made possible by some sort of tax but also war

makes taxed this relationship and i talk a lot about history tatsu out history krauser talk about the future because you design a society the way you tax it whether that society will be prosperous or poor the people will be free all subordinated it all comes down to the tax system taxes power where they is least government king or emperor of the leader is if they lose their tax revenue they lose their power and you know we need if we want to design a better society most of the tax to do is the tax system taxes this is patient 0 if you get tax write everything else can fall and by the way i got inflation money printing as a form of taxation without legislation some money would agree with that and it just comes back with what you consider to be money in this case and in the us forming documents of course they were talking about golden sovereigns the only real money

they they try to avoid money they hated the bank of england ben franklin said it was the chief cause for the revolution was to get a right from the bank of england and $1694.00 that was just about the time the bank of england was created if a mama steak and senator was the in order to eat we used to have a thing called the hof tax which was a tax on every front place every step and twice a year tax collectors would come into your house and count the number of stoves you had and it was a bit like the b.b.c. license fee and. this was considered a violation of the englishman's christmassy and so when william of orange became king of england in order to ingratiate himself with the new he called. he got rid of the tax and then all of a sudden he found himself without any money and various rules rules which he needed to wage and that's why he stressed the bank of england and then the wind tax yet fascinating the way these things echo through history in our history your history

so much in mashed over hundreds of years and the tax man has played a vital role and you know what me it was the american civil war that america income tax in the very 1st time was levy cheering the civil war then during world war one and then $142.00 the revenue act that's what brought tax to every man in america and it was also the civil war that gave america the i.r.s. that was 'd one of another one of romney incans great contributions wow that dominic this is fascinating i wish we had more time but we got to say goodbye hopefully we can pick it up when they're more in the u.s. with your book daylight robbery by dominic frisby thanks for being on the kaiser report noted so much thanks for having make and that's going to do it for this edition of kaiser report with me max kaiser states there but want to thank our guest dominic frisby until next time by all.

in the 1920 s. and thirty's several 100 african-americans moved to the city of the union and many of their descendants still live in russia. looking at the post because they know nobody but us the upper to stop guessing. on things on us at the moment up and go back home like american suffered from racism and a complete lack of prospects. of the real. one by else a storm on the. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the. ground great crowd. if you don't belong to.

me and now almost a 100 years later history is repeating itself my great grandfather george time went to russia. probable worst time to go anywhere why not me. when i come here. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race on this very dramatic development only personally i'm going to resist i don't see how that strategy will be successful very. time to sit down and talk.

french lawmakers approved named separatism bill which critics say would on fairly target opponents to the bill have been rallying for a day in paris. russian scientists developed the world's 1st test for their dead near u.k. strain of coronavirus that's led many countries to close their borders and we hear from the head of the russian border 3. while developing the new testing system and we kept in mind that if we need to detect other strains we could do it in the short of years of time. concern grows over the economic impact facing germany those kilometers are afraid.