remember we 1st started recommending because our audience when the market cap was under $2000000.00 when it was less than it all yeah it was like under $10000000.00 sort of thing is that he won 11 and now the market caps pushing a trillion it's already i think the 5th or 6th biggest currency believe it recently overtook the swiss franc in terms of market cap and size in the global market it's getting close to 50 percent or so over taking silver so the global silver markets approximately just under 2 trillion so certainly within a few months because it will be vaulting over sober it's on its way in my believe in 2021 to get half way or so against the market capitalization of gold that is it would be 4 trillion on its way to 10 trillion and then you know once it gets past gold there's only the dollars left and the thing about decline is that it is the apex predator or it is the shark in a notion full of gold fish and or plankton and which is the u.s.

dollar they print a lot of dollars but they're not particularly robust and they are going to be decimated as big coing dominates and becomes a global world reserve currency as we predicted so morgan stanley now is finally waking up to this day i might add that stacy herbert here i was on stands very researches podcast their video podcast by daniela company and i said that because he was the fastest horse in the raves and that gold was the best looking horse at the glue factory it was heading to the glue fact i saw that and all these gold bugs were triggered and i was going to say frank who is a multibillion ne'er canadian gold bug did go on to twitter to slander me and cami essay that was the dumbest thing he ever heard but here again you know maybe he might take it better coming from morgan stanley morgan stanley's head of emerging markets and chief global strategist. right sure sharma publisher reported

to have a white crypto is coming out of the shadows on the morgan stanley web site last week quote despite the jitters national and global pandemic crypto currencies are rapidly gaining popular support as alternatives to gold store of value he said and the dollar as a means of payment the strategist elaborated we see fundamental reasons to believe that regardless of where the price of bitcoin goes next crypto currencies are here to stay as a serious asset class so he's saying it's displacing the dollar as a means of payment and gold as a store of value so these are this is what we've been saying like the big crime is a black hole that sucking in all these markets a stocking and store of value is sucking ins means of exchange many of the big point debates that you see going on between early between proponents was always like no we only want it to be a means of exchange do not let it be a store of value like you can stop the market you can stop participants in the

market from using your your money as anything that they want to use it that but what's remarkable is that many years ago frederick hyatt was interviewed and said money was a technology that 100 years old many hundreds of years old and as long as governments controlled money there could be no advances in money along comes because it separates government from money there's nothing no government can touch bitcoin they're completely divided and divorced and predicted if you gave people hard money like decline to transact without the interference of government they would be an economic global bloom a renaissance and he was absolutely correct well indeed max because if you look at what this morgan stanley strategist says unless he in particular identifies this distrust of money printer coper of the governments just again. and i here in christ

report have been right for a decade now whereas the cable news got it wrong over and over remember all they did was ever report what the government at that time was saying like now where they used to be a narrative that it was really bad and was just drug runners on and bag guys using it that was back in 20131415 like we always i done a fight what was what was the future for this whole monetary system and now morgan stanley's agreeing charmer explain that one reason for the growth in it is growing distrust and currencies thanks to massive money printing by central banks it's been caused by the money printing by central banks stop being caused by bit klein as stop being caused by us as not being caused by people who point out this issue that is arising that can tell you naira facts causing unrest causing distrust causing anger at the injustice of some people getting free money from the fed or the

treasury and most others not so it's it's. morgan stanley points out as we've been saying it's not os pointing it out it's the fact that the fed and the money printing going on is the what is that's the issue at heart here that's why we've destroyed our set of times of max blowing that money down all over the place look it says right there in the genesis block of january 3rd 2009. chancellor on brink of 2nd bailout for banks that should have been the hint that this was here to to to put an end to the central banks and now here we are in 2021 and now morgan stanley is quoting essentially the genesis block of bitcoin and then you know a lot of the mainstream media quote all of these naysayers have big coin who are gold bugs themselves and here's what morgan stanley says again baccy exactly what price report has told you for years another reason is generational as young people view cryptocurrency as an improvement over metal coins

he continued quote the worst knock on crypto currency as a store of value is its volatility that's nassim taleb recently said that unflinching demand from millennial has helped lower the volatility of bitcoin even during the pandemic pray may mean the question is do you accept money where the volatility is 0 but the loss of purchasing power is guaranteed or would you prefer bitcoin where there is volatility but the gain in purchasing power is guaranteed those are your 2 options. i might add like we had a personal situation with the volatility of the u.s. dollar in that when we made a film for al-jazeera english back in 2005 i think it was or 6 right when they started their launch week we made a film called the death of the dollar and we were paid in dollars our budget was

well between the one month of signing it and the 6 weeks later of delivering and then getting paid the dollar crash by 20 percent but we lost money because our expenses were all in euro's and pounds and we were like well that was a dumb move to make a film called death of the dollar and get paid and. yeah it's ironic we learned our lesson for sure when you watch that film in great detail trying to figure out how do we end up on the short end of that what was up with us. so also again continuing with the millennial who way i'd done to fight as they they would be happy to accept it quaint as a store of value much better than gold but he says the strategist added that this age group believes the open source software behind makes it more transparent transferable and trustworthy than paper printed by governments he emphasized that this crypto confidence may reach even deeper and emerging markets where distrust and centralized authorities run high governments have been slow to recognize this

evolution is also starting to make progress on its ambition to replace the dollar as a medium of exchange this also highlights a paradox that i have trouble figuring out that is that those who are anti big calling many times identifies a libertarian when morgan stanley as saying are quite clearly is that because it is a libertarians dream a know it is effectively saying that you are getting your defunding the government in effect and that would be an appealing pitch to somebody who calls themselves a libertarian but for some reason these so-called libertarians they seem to really side with what are called statists and they take a position against because so they're confused both monetary they don't seem to understand what money is and they're confused politically they don't understand what side of the political aisle they stand on and i guess the most due to some obvious examples of the out ok the underlying issue here is money printing money

printing go putting money printing chance farm practice 2nd bailout from banks who owns the most gold in the world other than the women of india it's the central banks so here you are you know these gold bugs jumped on the whole crash of the financial systems by our bags by some gold from us by some gold for me peter schiff . the underlying flaw is that the governments and central banks all own most of it so here they're identifying the kids see that governments can not control it they don't own it you know some governments own bits of it right but they do they can't control it as they point out also it's transparent transferrable and trusts where they transferrable try transferring a power gold we can transact in an confiscated all unsensible money when nobody can stop us because we're protected by this encrypted shield called the protocol that's impenetrable and nobody can stop us and know and governments have to flap their

gums a lot and suggested oh we're against it but none of them can stop it and i think the eventually one of these governments according to game theory is going to say you know what enough is enough we're going to start putting it on our balance sheet here in whatever country that might be and then every other country will do exactly the same thing and the price of course will go $5600000.00 a $1000000.00 a because i and max are stacey will be once again 100 percent right it's like arguing standing in front of the mona lisa and arguing this painting is horrible why are you people coming to see this white flocking to see it it's like it's stood the test of a 1000 years it's like 700 years being the best painting every like everybody wants to see it it's mesmerizing nobody can maybe explain it but it's mesmerizing so that's the thing about bitcoin it is the best money because all value is subjective and and then new generation sees it as the best money so it's it is what the money also the biggest generation ever they see it as money therefore it is money oh and by the way it is on confiscated and sounds horrible no government can stop it wow

ok then i guess it's going a lot higher because it has to replace gold it has to replace the u.s. dollar the total addressable market for bitcoin is $300.00 trillion dollars it's now at one trillion it's got a $300.00 x. path to go from here own it or. and you now thank you alfonse staying pore all right we're going to take a break when we come back much more dog away. 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. again at the risk of long no rush but us though up most of us think way to own things. back home

black americans suffered from racism and a complete lack of prospects. is that columbus month the real show won by elsa store but by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all and some of dear african americans who were thrilled if you're new to the united. around great crowd. moulay of golf you going to call. you and now almost a 100 years later the history is repeating itself my great grandfather george time went to russia. probable worst time to go anywhere why not me. what if i come here.

the world is driven by a dream shaped by phone person with those great. dares thinks. we dare to ask. israel media a reflection of reality. in a world transformed. what will make you feel safe. tyson nation will community. are you going the right way or are you being

led. directly. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallowness. was abundant make no certainly no borders and just blind to nationalities. as much time with you we don't look like seeing the whole world needs to be the chief. judge. coming crisis with this system tends to modern times we can do better we should. everyone is contributing

way but we also know that this crisis will not go on forever the challenges created the response has been much so many good people are helping us. it makes us feel very proud that we are in it together. the british and american governments have often been accused of destroying lives in their own interest or you see in this these techniques is the state devising methods to him to essentially destroy the personality of an individual. by scientific. this is how one doctor his theories were allegedly used in psychological warfare against prisoners deemed a danger to the state that was the foundation for the method of psychological interrogation psychological courtroom. disseminated within the u.s.

intelligence community and worldwide among our allies for the next 30 years the victims say they still live with the consequences today. welcome back to the kaiser report i'm max kaiser time now to return to our conversation with entrepreneur and businessman dan collins dan welcome back. already stands rockefeller multibillion dollar hedge fund manager hasn't had it down your since 1981 he's now very very short a dollar any very long asia including china you know it's that the u.s. is still locked down and expanded money supply 25 percent annually while china hasn't had to do this what's your analysis of the pandemic and post pandemic situation dan. well u.s. dollar we're we're clearly getting toward just

a new sterling crisis and you know people remember the sterling crisis of the seventy's the seventy's the british pound probably lost 75 percent of its value by just started getting cut industries closed people lost faith in the pound and everything went to the dollar we're kind of in that transition phase now the doubt the printing of the dollar you're seen it's mathematical we're reaching the end game here 10 trillion last year another 10 change going to happen this year the printing can't stop if the printing stops the whole house of cards collapses so there is no there is no roadmap outside for the united states economy the way it's built today other than money printing so i think what he's getting at there is you know we're in our money printing is based off a unreal economy our manufacturers are many factions gone our infrastructure is crumbled you know our economy is not is bill basically in a house of cards and all this money printing is going to. cause a transition to china and the r. and b.

i think right now there's a headline to consider china and swifter partnering to take a digital currency global we are heading to a post dollar settlement layer world that same stand how is houses going to impact a. choice you know max we has one of our exorbitant privileges is to print dollars and get goods for it we get saudi oil we get chinese manufactured goods that privilege is ending we've used that we've weaponized the swiss system china knows us russia knows us the rest of the world us even the europeans aren't happy about it and we're going to lose that privilege we just keep printing money and getting bids for they've been working for years in office to go around the system what was just announced as you mention the swiftest partnering with china on the digital yen china as we've talked before it's 50 x. the number of mobile payments i mean if you take cash in china. and try to give it to somebody at the cash register they're going to look at you like crazy we don't

have cash change to give you so there everything's been mobile payments now china's taking the next leap forward they're doing the digital yeah it's already been launching for 5 cities a.t.m. you're on the city's people are getting drops of block change based digital you name it so they're thinking test it out the big corporate china is right behind it g d ali baba's everyone's accepting digital un now this is going to be chain is digital currency and if you want to free ecosystem it's going to be the big queen ecosystem the dollar we have yet to really move fast enough on the digital dollars so the whole point of this on these blocking type currencies is the lower chains actually get to block city and money moving and over here in the u.s. we're still writing checks and that's where the good queen of our system is moved in to try to create a digital currency system and i think what we're going to see going forward is that digital un is going to leap up internationally to bitcoin and the us dollar will have to be on a bit quaint system and we'll see if

a digital dollar gets done at this point we're not going to get anything done so i don't see it happening but yeah that's what's what's going on with the digital yen right about financing point their central bank that's all currencies are in vogue all over the world china's coming out what there's but you do mention that he believes that's going to migrate to pick point ecosystem because it would be the bass player at bay they they collateral layer if you well because of its incredibly secure nature and the fact that it's becoming kind of a global standard so that's an interesting point i mean. they of course china is also very close strategically west iran and russia do you see that spreading into the into those areas penned by the way really i mean then do you see that spreading into those areas and at the same time can you give an update on the belt and road initiative. sure absolutely that

we're right when we come into a world with 2 geopolitical blocks it's basically us in western europe and then again maybe south america against everyone else and only china russia iran turkey basically a complete eurasian block and geo politically we're coming up against that china is already you know moving 5 g. electrical grids and it also africa is going to be in that core the digital yen is designed to go around the u.s. dollar system i mean china could start sending digital yen to that central bank in nigeria central bank will clintonia wherever and so that's going to combine with the one belt one road so one built one road is all about building up ports intellectual grades and roads and building up the economies of mostly the you know these countries that have been left behind economically where some simple infrastructure development greatly improves their economy you know it's shrinking travel times and getting market goods to market and things like that but absolutely i think eventually we're going to see everyone have

a digital currency it's going to have to combine internationally somewhere it is not going to be a test the are always good for us i.m.f. it will be a bit coin layers but the interesting thing will be you're not going to new bitcoins you're only counting the new digital currency so they'll have good records but they'll continue to print it they'll continue to expand that supply base so you're going to have a big point ecosystem and you have national digital currency ecosystems right well let's talk about some other high level skullduggery we can't man stand any kind of democratic connection to any chinese scandals of course because this could show goes on you tube and you tim is very sensitive about that and they're very protective of those folks but we can slam republicans so talk about the mitch mcconnell chinese elite scandal down yet mitch mcconnell and his his wife is a their father owns a very large shipping company that. is china based there very integrated with the

topsy. leadership they've got hundreds of millions of dollars in contracts were sitting on the board of director of the world bank a chain and so they are given a deep connections in very high places within those families right so there is a bit of a kerfuffle out there students are being deported chinese students and because our supply of paranoia now between the 2 countries so is this over blown overreaction was there a naivete involved break it down is america got a chinese student spy problem down. well i think it's a it's a bad policy in general so we have you know hundreds of thousands in china and we did requoted have 100000 of the chinese students here in united states all pain international fees which are you know 2 times 3 times more than americans pay. and you know as you said 99.9 percent of the years there's not issues there and we have cultural soft power when they come over here and they love it they love them learn

to love us they become culturally close to us we understand each other and it's not just them coming here and we go over there my 1st time in china i was an exchange student at ching y. university which is like the mit of champs so this kind of cross cultural exchange is a good thing with that being said we are a little bit naive and sometimes if we let chinese students in a very sensitive areas where they never there probably shouldn't be so you know there's reasons to be careful of that but at the you can't throw the baby with the bathwater here and be completely isolated from from china that just doesn't make sense to what degree do you think that that is sad and swinging konami pounds alarmed away from the u.s. toward china well it's yeah i mean it's hard to say i mean there's nothing that china doesn't know basically i mean there are so many people in so many sensitive positions if you go you know most of the ph d.'s we graduate are from china or

india so we stopped producing a lot of p.g. candidates and things like mathematics and physics you know we basically import students for those programs so they're everywhere in high sensitive areas and i think only the last year or so that. u.s. f.b.i. police like this are shedding a look at this chain has a confucius institutes that were set up at most campuses in the united states united states is putting in action against those interest she quietly issued a u.s. law at the deal if only for right now don't see many russians stand and stare but the cats another story hey so the u.s. dollar turns 50 in august doesn't live all the way to that safety is the anniversary what are what are china's plans post dollars. post dollar i think you know it's a free check right now the united states is a free rider on the global trade system right we print stuff and we get stuff for free this by putting our money that's going to end we will go through

a sterling craziness like britain in the seventy's the dollar will be around the question is what will be the value you know we could when you look at our export profile you know if you look at our economic profile if you locate our industrial capacity we are in for a very large drop in living standards probably to the tune of 50 to 75 percent and you're seeing that already seen the tent cities pop up everywhere it's happening in slow motion as long as the money printing keeps going exponential it slows that collapse down but. eventually it catches up to us right our living standards for a while or a set of because although the jobs are being exported to china the price of stuff is dropping faster than the wages were dropping some people are able to afford high screen t.v.'s and clothes cheap clothes and so the living standards were not noticeably collapsing but now to to the ravages of what we must now call inflation there's inflation in the system commodities are entering into

a secular bull market prices are starting to actually go up in a meaningful way so now the pendulum swings the other way so that drop in living standards suddenly becomes notice a ball and you're seeing that really all over the us them. absolutely labor rates in china this year up 25 percent a lot of that is due to cold. but we're about to see the pendulum swing absolutely where instead of 20 years of exploiting cheaper and cheaper products here we're going to get 10 or 20 years of more and more expensive products and it's going to hit everybody in the living standards i see it every week everything's going up 5 percent a month copulate 8 year high you know whether it's stretched you'll pay going in take a chemical to finish good everyone's. price increase when you cross the border and we're going to have it's almost a supply chain. inflation capable county everybody's going to gear up for and get ready to survive right so the summer conductors are just

a canary in the coal coal mine that may that's going to impact everything across the board you could say supply gaps and price increases and florida though it seems like a bright spot in the in the nation at least are attracting some brilliant people like yourself and maybe they can lead this country back to greatness stand collins thanks for being on the kaiser report. next 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 gas tank collins and so next time. there's any truth to should see in the last 4 years it was the fact we had this transformational president with really grand aspirations that

were broadly supported by the american people in the most populous present in this country's recent history were matched by the appointments that were made in the administration but i think maybe with his background in business he might have underestimated the importance of personality but you know having worked in the white house in the executive branch of government so much rests on personnel . so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. clearly dramatic to follow only really. i don't. see how that strategy will be successful. if you sit down and talk.

the 1st country to approve. green light. coming from the us president joe biden declares a major disaster in texas as the state struggles to recover from all the precedents of winter storms. few protests in the country see. demonstrations but also. accuse the more of fighting terrorism.