is the u.s. making amends for the tragedy in los won't help to the people need in the too little and don't mind. taking a shot on russia's covert vaccines slovakia becomes the 39th nation to order supplies of sputnik the it's also the 2nd e.u. member to approve the shot and it comes as the bloc itself struggles with vaccine shortages. keeping an eye on friends and family new zealand says no one should be off limits when it comes to informing on covert rule breakers. and tech giants aren't giving up their crusade against donald trump just yet as you tube limits access to his 1st post-presidential speech for repeating claims of 2020 alexion fraud. poser world news headlines for this hour my colleague neil harvey will be taking over in just about 60 minutes so on behalf of the international team thanks

for watching and we hope to see you later. i am max kaiser this is the cause or report you know stacy this is a momentous day for kaiser report and congress a report on espanol on r.t. on a spend you know waving the silver play a wart on you tube it's a really fantastic achievement and everyone down at archie espanol kaiser report headquarters is going crazy right we have the silver plate button on our podcast on this episode of 4 and a final so that's a great achievement and so happy for our audience in mexico spain and the rest of latin america mexico and spain are the top 2 audiences it's almost out loud you

know we love you you love the us together we love and we love some more i love stacy ok let me honest and let's be honest about it ok that's the fact that's what makes the magic happen today our mom that's what lee we love you. i think i'm not saying it quite correctly that we're learning spanish will come to mexico and hang out with you and we want to be in one of those tele novellas with max and stacy down there in mexico city is going to be os like lucy and desi arnaz but you know modern up to date version that's right delivering the financial news for you i know you want us to get into the financial news now because that's why we are the number one and this is from the new york fed john williams ok new york fed is basically the central bank right the most powerful of the member central bank banks in america part of the federal reserve system he's finally after 12 years of receiving this content here he finally has come around to what the kaiser report has told you

over and over and this applies to every country in the world that is printing money williams says there is some evidence that low interest rates can move off asset prices disproportionately held by wealthy households we've talked about this since the can tell in effect they just describe it can tell an effect which we've talked about on this show many times the money printing causes the wealth and income gaps this guy down there at the new york fed is just catching on to the facts of the situation now kudos to him for now living in denial for not following the crowd of mainstream economists who absolutely deny any connection between money printing that can tell an effect and why this small group of people would have been made billionaires in a last 3 years without actually doing anything other than clipping coupons supplied to them for free from the central bank and while this group of people can't seem to

get enough to feed their families over the course of a year why is that he finally figured it out so to remind you what happens as in the fed basically gives free money to the banks that are supposed to lend it out any they're getting the money for. free with 0 percent interest rate or close to 0 and by the time it trickles down to the ordinary person ok perhaps forgetting 3 and a half percent on their mortgage or 15 percent on a credit card if they have very high rating credit rating or 20 percent 30 percent 40 percent so that's what causes the cantillon effect is the difference in the interstate apartheid as max calls it and i think it's interesting too that as soon as john williams said this that we saw a rout in the bond market right and we saw the 10 year yield spike the 7 year 5 year like there was a huge turmoil in the in the bond market that was pretty unprecedented for the past

few years anyway so the question is is it by design or is it just by accident and what we've been saying now for a number of years is that by design that can tell an effect is not an accident because when you fix the price of money by artificially keeping prices of interest low underneath what the economy would suggest would be the normalized rate you create this or ping of the economic signals and of the underlying economy to the extent where all the marbles on or you know the billiard balls on the billiard table seem to all roll into the same pockets because the table is not balance it's tilted it's like pinball you know till till till but instead of that game ending because on year after year after year in the if the central bank has to get more absurdly over the top not so in buying back now not only treasury bills and 3 year notes but now we're going to be buying 10 year notes they're probably going to be buying 20 and 30 year notes and they're just in they've had a print 25 percent of all the money supply that they've been proves but in the last

12 months they're just please let me go. out of why to keep those few kleptocrats who run the book the banks are supposed to be distributing the money that's their job but instead. hold on to and say we're just going to buy more houses for ourselves and we don't care we're not distributing it you know all these relief programs they go to the banks 1st and they don't distribute it they hold onto it how did jamie diamond become a billionaire he didn't actually produce anything he just keeps all the money that the government prints right because that's important to point out so here john williams of the new york fed the most important of all the member fed's of the united states federal reserve system and he says that there is the low interest rates and the quantitative easing risk is what is causing these low interest rates is causing a cantillon effect a wealth gap between those who have the assets and those who don't what you're going to see a lot you might see it on twitter and stuff like that is why c.c.

yield curve control so they're trying to control all these interest rates and into the overnight the one year the 2 year 3 year 5 to all the way out to 30 years in the case of argentina i guess they have 100 year bonds but the fact is they're trying to control all these rates right to keep them from finding its free market rate so because of what happened last week what you're going to see because of the huge route they call it in the bond market you're going to see them having to either cut rates but they probably don't want to cut rates yet to a full market crash but they'll do more quantitative easing to try to drive these rates down thus causing what he's already identified now as as a problem exacerbating the wealth and income gap right we've saved that money printing causes asset prices to go up and to defend if that of a very few people in society and we get a lot of pushback from bankers and central bankers we had this discussion with danny blanchflower the span the committee of the bank of england for many times he

was kind of one foot in one foot out but a lot of professional economists say no that's impossible there's no connection whatsoever even though it's obvious the deep is clear in front of your face of this is exactly what's going on but you know it's consolidating the global instruct. against banker occupation because anybody who's upset about how the economy is being bifurcated to help the rich and destroy the poor even more is going to have a single point of attack and that is the central bank they know now the central bank is the center of the criminal racket that has destroyed their lives you know and i'm thinking about money go but a little to think of translated into spanish it would be money go got. 8 yeah that's what. i'm claiming that that's a good translation you know you can you can argue with me but i thought why that's why i thought but we've talked about the bond vigilantes that used to exist and then they got annihilated by the basically the central banks right they've

destroyed the ability to have a free and fair price signal an honest price signal in bonds so here's an interesting take because the bond market you know is anywhere between 10250 trillion it's hard to get like there's so many different numbers that come out but here's what kathy would she's the founder and c.e.o. of arc and best mint she's one of the top investment advisors in america she's very famous cathy wood and she's also a very very early investor in tesla and a big point as she said according to dow jones d.j. bitcoin may replace bonds kathy would says this is a pretty remarkable statement coming from her this is enormous because you think about gold is worth about 10 trillion because it is now hovering around one trillion so it's hovering around 50000 a coin that means if it gets this competes with gold what would would would mean $500000.00 a coin now if it takes out the bond market which is a $100.00 showing in that's $5000000.00 a coin in

a bunker according to michael saylor micro strategy the entire global economy of roughly $400.00 trillion dollars worth of tradeable assets is can be hyper because not just the upside is really in the millions of dollars that is always going to be the problem right when you. 0 percent or negative interest rates and many government bonds there's some 1800 trillion in government bonds that are negative so if you have negative rates there and the junk bond market the junk bond rates are at their lowest ever something like 3 and a half percent it's like ridiculous they're not being paid for their risk i could see why if the fed and the central banks want to force prices interest rates below where they are in order for the governments to be able to continue borrowing at cheap rates and afford well because they can never afford to pay more interest rates right they have all these massive debts now that they would literally go bankrupt if they were if rates were ever to go up higher so there could be no free market rate there and investors are starting to clock that rate they're starting to

figure that out and saying well they can't control big queen they can't control the price of bitcoin as a price signal of us like understanding what's going on in the market absolutely right and so it could potentially replace the bond market as the collateral of the global economy right it doesn't mean that because because is not like a bond then a fractional reserve system or you can create layers and layers of debt to supposedly create g.d.p. that is still possible with bitcoin you can still structure it into debt instruments but because the underlying collateral this case being bitcoin in the private keys are owned by the socially the outsiders of the system have a check on wall street never again will wall street be able to instantly re hypothecate as they do in in england where they can sell the same bond 800-200-3000 times that's what we're in for that reason i popped the question means you can sell the same bond an infinite number of times because nobody is doing an audit of the

original foundation bond that you are using as collateral to sell the infinit bonds but that's because when you remove it from the system then you can no longer infinitely re hypothecate in that restores economic justice to billions of people around the world and it's up. with that going yeah and here's a final headline regarding this government debt that they're trying to control this like c.c. yield curve control to sustain as governments in advanced economies borrowed 18 trillion dollars from bond markets according to wall street journal more than ever before during the 1st year of the pandemic 18 trillion dollars who knows what's going to happen this year if if any of these variants happen or stock markets crash remember when the stock markets crash in 2008 there was that was the 1st of the beginning of these unprecedented amounts of government borrowing so yeah we're in a precarious such situation i think but now the fed is is finally admitting what kaiser report has told you for the past 12 years and that's why we are now award

winning content creators officially and that's awesome you know it's about time think you are to spend your old kaiser reporting once again number one we're going to take a break and when we come back lots more coming your way. that was a bad segue we just lost our. anyone else chose seemed wrong. but old boy just don't call. me

old you get to shape out just because the ticket and in detroit equals betrayal. when so many find themselves worlds apart we choose to look for common ground. the kids of the 3rd. kind. in the little.

does she don't concern the jail you've been talking to little jacob dealing with the saying i'm done we'll soon enough that equal distance isn't what he calls a still sleep. because i don't plead unsettling him to live the way that to those of putting me in a cell is this is all so to us it all took the sitting on. the. welcome back to the kaiser report i'm gonna go to steven flood of gold court dot com stephen flood walk on a max great to be here so i suppose the biggest news of the past week is the dramatic rise in in all it's your thoughts on this well money print they have to accelerate how will this impact prices battles david in the market generally is getting concerned about inflation i think they're looking at the fed and the

signals coming them from the fed thinking that they're not taking it as seriously as the market wants them to and they're getting ahead of that kind of trend so yields are rising prices in bonds are falling deeper moving out of that market and then you look one step ahead and you think well does the equity market look expensive and that in that kind of scenario there's a thing called the equity risk premium which is like the percentage that you should get in an over bond yields to justify stock market position and if you are rising that actually rest premium you know contracts and suddenly the equity markets look a little bit choppy so they're kind of reacting as well to this news on economic a 2nd order basis overall though what you're seeing is that you know inflation is in the offing and people are worried about it what's going to happen we come out of coded and people start spending all that money that they saved up what happens to the economy doesn't overheat do the powers that be are they able to keep control of us. so it i initially i think what you find is that there's a bit of a sell off

a lot of things get liquidated and we've seen that before when events start to take a mind of their own so you know gold and silver tend to sound off. with equity markets in the nischelle stages of a potential crisis and then they tend to as as money rotates out of risk on which is equities and uncertain bonds interest off which is cash in safety and metals then that those things should actually start to write themselves and gold and silver will start to rise again typically that's what happens. trading at an 8 month low looks pretty pokey what's going on some credible i mean like i think what you're seeing is there's a it's a there's a tale of 2 markets here there's a paper price of gold and then there's the actual physical market for gold investment product and the investment market is is made up of the spot market price plus the premiums and premiums have started to rise in fact in silver they've risen quite a bit in gold or reinjure rise as well and i think that's going to happen

a lot more as best years turn to physical gold and they look to the to allocate maybe you know kilo bars or to buy 1000000000 coins and you know to find those things become quite difficult to get your hands on if this sustains so yeah so i mean we're seeing huge demand for precious metals at the moment across all the markets and we think that's going to continue of course the wall street bets crowd and read it they made a splash couple of weeks ago at their shorts ways on a thinly traded stock game stop and then the momentum kind of shifted over to hey let's squeeze some over because the dynamics are similar there's a huge overhanging as you call it paper silver market what's are primarily short sales to keep the price of silver and gold down from actually having any real price discovery what if there is a serious squeeze sells our campaign out there would it have an impact absolutely no doubt like i make you know if it's the jury's out in terms of you know just the capacity of the market to be squeezed fully you know there's

a lot of silver but it's not the right place it's not the right format for certain vehicles so the e.t.f. might come under pressure it may not be able to fill its baskets you might have its price might decouple from the silver price and it could become disorderly but there is there is there is you know we're finding good supply the refinery level you know 4000 silver bars in zurich we have some we have we have we have a fair amount of stock there we have a fair amount of line of sight to the refiners and their stocks as well it's not quite there yet. but you know if silver is very much a marginal investment most people haven't a clue about it until recently that is it was no it wasn't on anyone's radar i do think though that as this inflation story begins to take off i think is there's a tsunami of inflation coming and i think people will look to all term it's i'm silver is definitely going to catch a bit and you're going to see a lot of people looking to allocate into their portfolio for the 1st time ever and so yes if we could this could actually develop into a shoo in to

a real. silver short squeeze a tsunami of money printing to give some numbers here 25 percent increase in money supply just in the past few months actually if you look at em on em to the numbers and charts are gone hyperbolic on the upside they policymakers in washington and the op ed opinion makers in the world's top. the newspapers tell us that nothing should be worried about here what why should we be worried keep come move along you know it's it's quite frightening what's happening generally globally led by the fed. and the e.c.b. and in europe and the bank of england essentially went when they when they print money in order to prop up these these capital markets namely the equity markets the bond market and even junk on markets what they're essentially doing is printing money and they're they're they're they're taxing the savings the people have again so you're paying tax after tax and that is i think that's absolutely criminal and

people don't realize that this is actually devaluing their savings after tax these people are not elected they don't have they don't have tax raising authority for say but what they do by virtue of for the money is actually a tax so you look you have to kind of what we go core is we talk we talk about personal sovereignty so having a form of financial instruments that can give you personal sovereignty that's the role of gold and silver in the in your portfolio and it works best when it's diversified so if you do find us find yourself in kind of scary territory where things are gapping down and we all know what happens in a market sells off in a big way you know you don't if you're not able to sell it just got you know multiple percentages at a time the gold and silver should rise and take the correction out of that staying you know comm lines and that's really its proper role so that's that's that's why why many of our customers buy precious metals i often point out the fact that people malign gold but it has made new all time highs in every major car and say in

the world rates alay and has been farming for 10 or 15 years in that capacity so it does kind of what it's supposed to do now stan druckenmiller reason they said is very very short the dollar due to the increase in the money supply he owns both gold and bit coin and so this is a plane. now in the institutional level stand back and mailer never had it down here since 1081 is equating gold and bitcoin as many other managers are doing now this of course in the gold commit community is considered heresy by many where do you stand i've studied decline for a long time and i know you're a huge proponent of big calling and i think that for me the jury's still out but i think a lot of people have i've looked at it as being an alternative to currency because it's essential eyes it's not controlled by a government it gives added protection i think there's no diet about that but i do think that there's a huge amount of people who are looking at it right now and they're going into it

on the basis of price rise rise alone and not for other fundamental reasons not to use it as a currency and so i look at because it has been a great a great. experiment in block change technology which i absolutely believe is transformative for the global economy going forward and for information technology and if you overlay our artificial intelligence on the block change acknowledge you have probably a very deflationary factoring in future economies but you have a future fundamental benefits as well so i do see i do understand why people look at gold chains same way i do think gold is far superior it's performed around 10 percent per annum a new allies for the last 20 years it's i performed almost every other market out there by a handsome margin and it's on its you know for something that's anonymous and it just sits there and it does not you have a yield in its own right i think that's tells an awful lot about the stewardship of the global economy and the actions of the central bankers are talking about bitcoin and blocked saying well i'm saying it's just part of the tech stack of bitcoin

blackrock race and they said their own clients are moving from gold to bad coin they see it as a substitute for gold and now here's where it gets interesting on the in the gold mining industry franko nevada said in their earnings report that the price of gold fell from august because of because so they're citing that in their report at a major. gold miner as being a fundamental issue and something that go under the category of risk for them as a gold company because the market say's they calling beyond anyone's individual opinion the market mr market says is equivalent or better than gold as an inflation hedge as paul tudor jones has said it's the fastest horse in the race is this a problem relations problem for the gold mining industry that they that they don't seem to be able to get their message through i can understand it and if all you know is gold mining and go production and that's it and then selling this this new

you know player on the block comes along and steals your luster i can understand that reaction definitely gold has lost friends to big coing in the inflation credential area absolutely but because of his very own test it and make it out you hasn't had any major major market cycle really yes hasn't been tested it's not widely known widely used it has a number of fundamental problems to us that can be replaced by other better versions i wrote an article recently comparing it going to the model t. you know it's it was a fantastic technology at the time it was eventually overtaken by other better foster. rivals and i do think you know that because it has a story to tell but i think over time it might find the competition heating up quite a lot as blocking becomes much more the story than becoming is today but that being said gold has an enormous history behind it and has long market cycles of data to support its position i don't think it's going to go away at all in fact i think

what would be quinn has done is done gold a favor because it's open people's eyes to the abuse the massive market abuse of our of our monetary systems and people are looking at alternatives and so i think that that's a commentary will eventually come around in gold favor we're not seeing it on the on the trading desk here at all there's an awful lot of demand for gold and i think deeper look at these price points are. now i think it's the by the century i do think that because you know how gold as gold become something of the poor man's bitcoin you know that happened hundreds of attempts to not because one off from the blade and they've all failed that's why i don't want the trillion dollars and looks like it's going to head to 10 trillion dollars but nevertheless gold is still. a go to asset i don't believe it all going to be a completely day monetize as some people don't believe but you do have to be in business over there how do you how do you market goal to the millennial generation right now that seems to be all in on because i and look at gold like that model t.

that you just described well they're not actually known because they're very much all in on stocks and they're in in on tech stocks on a lot of people look at tech stocks and pick one as being very much in the same same vicinity so i do think that they i was talking to a millennial did a day and they and he was showing me his opponent showing me the stocks and they were going up you know 2030 percent a day and he was up a lot and he loves talking about stocks but he's never seen a full market cycle and i explained to him i said have you ever heard of the concept of a gap down i mean adam's time was like ok well this is what happens you go to you go to bed at night your board shows at $100.00 you wake up in the morning it's a 2 that is the price you know don that's what happened and you know essentially the nasdaq stock market bubble were those huge amount of euphoria for metals and or for it sorry for stocks so i do think because it is catching a bit because also catching a bit from the money printing you talked about the m one m 2 that's that's a huge driver for it also there's a malays are bored there at home not doing anything there on their phones or

looking at stuff so you have a sad thing going on there too but i do think the big story is it's an alternate currency it's decentralized it's a fantastic example of block chain and i do think you're going to find better block chains versions coming out that's just my own view and i know you're very passionate about it but i'd actually start looking east and i would look at the chinese government i'd look at the chinese central bank and i would. wonder if they're going to come out with a crypto currency that's globally defined based on gold based on you know other stress special drawing rights and other basket currencies and make a play for that and that reserve currency status as a dollar is weak and i do think that's actually probably the big big story that's going to come out in the next 2 to 3 years stephen flood of our friends over there at gold core dot com the big story much more to comicon discuss this i'm sure in the future a few times stephen thanks for being on kaiser report thank you so much great to be here and that's going to do it for this edition of kaiser report with me max kaiser and stacey i would like to thank our guests david flood of gold core dot com it's

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