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dot com for more on those and other stories reporters next on our international boom bust is coming up if you're in the u.k. . hi i'm max kaiser this is the kaiser report 1st slowly then quickly oh what's this all about stacey oh i think you're quoting ernest hemingway there of course and he went bankrupt slowly and then suddenly and the same thing happens with hyperinflation you might call it it happened slowly and then suddenly just says recovered a few weeks ago when we covered the tweet stream of michael burry the hedge fund manager famous for the big short which was a film made about him shorting the u.s. subprime housing markets and that catastrophe well here's an interesting headline

from a trusted source person fenton he lives in new hampshire and he tweeted this our local lumberyard prices have risen so fast lately that we can't quote accurately they said so we have now moved to weekly price quotes if you are a builder and need an estimate for your customer that lumber estimate is now only good for a week sorry fed inflation is 2.2 percent they claim michael berry had said just like weimar germany this could be coming to america that the past 10 years 9 to 10 years have been similar to the lead up to the hyper inflationary event that it slowly over 10 years and then suddenly in one year a whole hyper inflationary collapse yeah we've been talking a lot about this because it's better to be a year early than a day too late because once the inflation genie is out of the bottle it's really you can't get it back again without massive restructuring in massive economic

damage you talk about why more germany as an example and it happens very quickly in in the united states example all they've been understood. saving or misstating inflation now for 15 years claiming it's a big one to 2 percent or 2 and a quarter percent oil and you adjust for a more accurate picture of the c.p.i. the consumer price index based on what people are actually experiencing in the economy whether it's the lumber market as bruce fenton points out or others if lation today in america is running a 10 to 12 percent right now and that's set to double as the u.s. dollar. gets into a lot of trouble with these geopolitics games being replayed now with this new administration you also see just like weimar germany and we covered this as well when the michael beurre tweet stream covered what happened and weimar germany and you saw a massive speculation on the stock market that was one of the earliest signs of the hyperinflation to come so here's an interesting set of charts from wall street dot

com and the title is stock market leverage spikes in historic man or another what the heck chart of a zoo that has gone nuts and the current craze that encompasses everything from sneakers and f t's to stocks or valuations don't matter because of widespread certainty that valuations will be even greater in a few days and where folks are chasing lottery type returns supported by the fed's interest rate repression and 3 trillion dollars and asset purchases and by the government's trillions of dollars of handouts and bell outs well in this perfect world there is a fly in the oil meant vast amounts of leverage including stock market leverage so as to show you the leverage in the stock market he has 2 charts the 1st one is the rate of change and margin debt from the previous year so that she posts this past year since mid 2020 to now versus going all the way back to 2008 so margin

debt has spiked historically over the past 20 years and then one more chart here to reiterate that. the extremity of the situation is the spike in margin debt just going back in one timeline through 1999 and you can see the amount of margin debt going all the way back to 1909 is at an extreme that's what happened in the 1920 said led to the crash of 29 trade people were trading on margin at the time it was 10 to one the reforms of the $33.34 act the security sector or to curtail margin lending to try though. get that excess out of the markets but sense then through deregulation margin is them now really at one percent and then you add options on to the mix and you have a lot of day traders and casual traders down trading in the options market where the it's not really a one percent down 99 percent lever just more like 1100th of

a percent down and 99.99 percent leveraged you know out of the money options are the most leverage possible thing you can possibly trade and this is a common trade now for the robin hood crowd and elsewhere and you know as far as the y. more republican hyperinflation goes i mean this is a crack up boom this is a minsky moment this is what's been predicted by austrian economics this is exactly what you'd expect when you throw all the laws of economics out the window and you just kowtow to the geese quacking for more money we want more free money and to speculate as and they and they're just avoiding the dollar like the plague as they should but you know this doesn't end well you know it's never ended well throughout history i mean we covered that back in 20082009 during the beginning of the financial crisis when margin debt was down here and the best performing stock

market was in bob way and they were printing money they would jump to the trillions of dollars that this way dollar so they were performing their stock market was also performing very well but in terms of how bad it gets because you know that kind of puts the fed and the treasury into a bind because the bigger and bigger and bigger this bubble gets remember the more margin you're using the more you're able to drive prices up. on the way up but on the way down it also accelerates that it's an accelerator of the decline so they obviously can't have that happen especially during a pen demick especially when there's no economic activity happening still a year later so you know if everything is collapsing all around them then it becomes a point where more and more helicopter money has to come because if this collapses like what are we going to do with all the boomers are going to do they've already been wiped out by 2008 their house prices are up but you know at

a certain point these things have to pop right that's the problem with as you say the minsky moment come because the blast dubois economy america depends on the kinds in this of strangers to fund their speculation and to fund their extraordinarily cheap lifestyle made from labor overseas and. so i find it interesting the saber rattling going on in washington d.c. right now because the kindness of strangers can evaporate in a heartbeat if they no longer want to play the u.s. dollar reserve currency game and then inflation right now is signaling a a 10 from 10 to 12 percent current inflationary the just for reality to 24 to 30 percent inflation rate and that is going to staying bad right and then consumer spending he will she also has another chart about that and just to show you the extent again this is the sort of behavior that you have in the beginning the early

stages of a hyper inflationary collapse not that it's going to happen but you know these are signs that's all you can do is look for signals and the fed and the treasury and and the central banks of europe and japan have destroyed the information that price signals can send to you but nevertheless if you look at all that free money went to a lot of people millions and millions tens of millions of americans and they went for durable goods that durable goods spike of purchases going back again to 2008. in our it's historic and that's what makes sense right if you're getting this free money and you don't think it's going to hold its value but you know it's going to drive really high inflation and you know you're you know you might not need a washing machine or a refrigerator this year but you might as well spend the free 2000 and buy a refrigerator because that refrigerator might be 5000 and a few years especially as like a lot of refrigerators and a lot of our electronics and durable goods these days actually require semiconductor chips so this is part of the reason causing the semiconductor chips

shortages which are now forcing manufacturers like ford and g.m. to shut down production samsung one of the 2 biggest suppliers of semiconductor chips they're shutting down some of the production on some of their certain smartphones and and pads so you know these are the sort of things that start to happen dislocations and shortages and things like that so these are just something to keep an eye on at this moment right you have a globalized economy and just in time economy and it was offloaded by the dollar. some came around and declared the age of dig lobel ization and that so that started the dismemberment of the global supply chains and cooperation that was going on in the period of a guess you could call neo mercantilist a more it's every country for themselves and now in the current ministration that's only exacerbated to new new new tension and so then it's like

a great big poker game and somebody is going to call somebody one of these big countries or know what's exactly but they're going to say ok i see your bet i'm calling you that everyone's got to show their cards everyone's got to show their cards and america's going to be showing they've got a pair of 3 days. they have bitcoin or lots of gold they have a lot of nations gold and stuff like that this did happen back in as you mentioned the great depression and england was the 1st to. pulled themselves off the gold standard and they they emerged from the great depression 1st because they had you know euphoria of more money but in terms of also intervening in the markets distorting price signals and you know when you intervene when the government intervenes because they want to save those people and causes. disorder and chaos and strife for other people whether it's on the g.o.p. politics side we're going to go save the people benghazi over here now we have

slave markets in libya you know i said there's there's always ends up being a trade off in this one but we've seen of the past year is that there's a moratorium on a fiction's and foreclosures so all these people this is part of the reason why you're sending a lot of free money to people they want to spend they want to buy a house now because they have enough for a deposit because they've been getting an enhanced unemployment benefits also to simulate blah blah blah they want to move out of the city but there is a mass exodus for you know out the countryside more rural areas are suburban however all these people there is there's over it well over 10 percent of of people are not paying their mortgages and have not paid for a year but they can't be evicted so supply is in short supply here we go again sober look perpetuating the myth of a housing shortage there is no shut such thing there's too much demand currently relative to the number of people willing to sell rates will change that you know

this is the normal supply throughout the year that's going back 272821000 this is last year and the this is this year historic low in terms of the supply because why would you want to leave when you get free you don't have to pay your mortgage you don't have to pay rent you just can't stay there for another year probably the state pays your rent and the state is your food and the state takes care of your health care wow this sounds a lot like the soviet union all right remember kids don't draw to an inside straight when you're playing poker we're going to take a break and when we come back much more coming your way. i'm going to trust my. purpose. was.

bringing. longer. i mean you know starting point in the. not i'm not. always so. stupid thing is often in the future beginning with the u.s. it's a must do not yet you nationally for sides. but boy get him in the norm understood it i threw it in a new version of the phrase the. blog the 6 all extremists all of which i don't know much you know fish with holes. in the top of that if you should get to build a label review. in the store and for. me a could be as nice. as. if she were him let him know that you

can be the one in the. show it's seemed wrong all right old roles just don't hold. me to be just to shape out disdain comes to advocate and in games from an equals betrayal. when so many find themselves worlds apart when she's to look for common ground. humanity has never seen such strange natural phenomena befall giant coming to this appearing in the. one after another. but never about the preamp again you've had us get you your boy you. don't have it you want any of.

this one appeared in 2020. how often and where will new crisis. how dangerous own day for humans from only you is different one night and she joins you one russian scientists came quite close to working out what's going on. they built a full scale 3 d. model of the black hole. but going back to the kaiser report i'm max kaiser time out of go to brady swenson of salon pit client dot com full disclosure i'm an investor and salon as well as bitcoin brady welcome max super honored to be here thank you so much for having me excited for this conversation tell us your story how you found bitcoin you host the

swan bitcoin salon lounge lifestream and i've been watching that for a year or so and you know i've noticed something a bit quiet and i've been in this game for a long time 10 years the same is like recently in the last year or south things have taken on a philosophical turn you know used to be about transactions that used to be about store of value now it seems to be about plato and socrates is this true and tell me about it absolutely i'll just begin it quickly about my journey came into becoming 2017 absolutely you know sown love with it like most of us do and fell down the rabbit hole started a podcast called citizen because in early 28000 and started you know learning about this thing really of my idea was i just want to talk to these big coiners to know what's up and learn about this thing and share my journey learning bickley and that's exactly what set up podcast it for me really allowed me to get to the space and kind of kick off my career as you mentioned now i host

a show for swan because where i am head of education called swan signal live that's on tuesdays we're moving that's wednesdays we put paired together 2 great guests and i think put together some wonderful because shows we also have swan lounge as you mentioned on fridays so yeah you know as far as bitcoin philosophy emerging absolutely 100 percent in the past few years we have seen some great thinkers really come into the space and bring their diverse views that they have you know ideas they've gathered from other parts of the world other ideas and brought them to bear on because for instance robert breedlove. of comes to mind g g bringing quidam and these guys have brought some different ideas in you know created analogies or metaphors for us to understand big better and it's i think kicked off this sort of philosophical age of big question that has helped us all achieve a deeper understanding of of what's going on here it makes sense that metaphysics

went appeal to people that aren't to mete money rights up to coin ets on a flag by state money it's a global money it's here $1.00 money and it's knocking out gold which is spend the global money for 5000 years it's become metal money and now we've got metaphysical discussions about it metaphysics as a kind of a global discussion you know wherever you go is translated into many many languages the same concept because people have a need to communicate people have a need to understand and the same thing of money right people want to transact ideas with metaphysics but they want to transact good and services with something called money is money is it a communication medium or is it a trade medium i mean some how do you even say money now in this new environment and i had no idea what money was before between 0 idea. and i came into it thinking

that you know just the way things were was run by governments given to you know given to and controlled by governments and didn't have any idea about the history of money and gold being you know really this naturally emerging sort of form of money that we organically or kind of in a grassroots way. decided that this was the best form of money that we could find and how these properties that sort of made it that way and yes it's a it's a medium of communication it's a way that we communicate our needs our once our desires to one another across space across time and then allows you know others to hear those and gather that information and then put together solutions to those problems needs of those wants and put them out into the market and fulfill those needs and through that sort of cycle we build civilization monies i have discovered the

foundation of civilization and we have had broken money for 100 years plus now 50 years since we have the gold standard certainly completely broken foundation for civilization and big coin is really like the platonic ideal of money as a foundation for civilization allows us to communicate to each other those needs and once in a clear way without any you know sort of manipulation or you know disturbance in that signal a very clear signal and so i think that we will be able to build a brighter future what in one citizen because my tagline is you know welcome to the dawn of the big point renaissance and i know you and stacy talk about that a lot especially on the orangeville podcast renaissance 2.0 i really think that with this really solid foundation of money of decline we'll be able to build a really really bright future and i hear this all the time particularly in the

millennial gens a pickling community i'm a boomer and so i'm very familiar with american life post world war 2 what just built on consumerism consumption debt bingeing. in conspicuous consumption and develop a cation of savings you know like the new york times it's not about the savings glut or the paradox of savings they really hate the idea of people becoming individually sovereign and that's been the story for 5060 years certainly sounds post world war 2 americas been built on the global western economies have been built by fake it to make it shop til you drop. but you're your generation is saying rejecting that entire model and reading plato in stacking suppose she's now. there to stab us mint. doesn't like that because they're entirely based on you going into debt to buy

a house you can't afford and a car you can't afford so what's going to happen here is they're going to be a generational class to feel a generational class yeah i mean i do i've actually had this conversation with my dad and had to respect apologize for telling you know telling him that his generation is really really messed things up for the younger generations of the millennial have had it you know basically the hardest pass to trying to develop some kind of capital or build some kind of wealth of any american generation because so much of that wealth and capital was stolen from the future and brought into the present and enrich you know the boomer generation and you know it's hard to build wealth without capital and if all of the assets are sort of concentrate in the hands of this older generation of really benefited from the money prince or from the few out system it's really difficult to do the same as

a younger generation and this might be you know the 1st generation in maybe american history will actually be worse off then their previous the previous generations because of that that phenomenon that effect so i think there is definitely this sort of generational divide that's been created by the money system and i do feel like we have a tool now to actually push back like the wall street you know occupy wall street stuff in 2008 was a reaction like we we felt like there's something wrong here and there is this real visceral feeling of it but there was no. you know defensive tool i feel like to move to no other option to really employ so now i feel like we have big calling as an opt out and so we have a way to move forward in this sort of peaceful opt in. collective weigh in. i just really feel a kindred spirit with all the dick winners around the world including the boomers

you say you can't build wealth without capital. so now this reminds me of something i say you can't have capitalism without capital and it can f. capital without savings and you can't have savings without offering a decent interest rate that would attract people to put money to work in their savings account so this sets up another interesting conflict if you will or generational conflict so i would say that because and hard money is certainly a respect for how capital forms the basis of a strong economy whereas we have another huge threat politically in america right now which i think you could put under the heading of socialism you've got moneths a modern monetary theory or m.m.t. a universal basic income and a lot of other so-called left wing agenda is strong and that in washington you've got a whole bunch of politicians who are really hammering this idea that we need to start

sending people checks every week to is that another conflict in this really it's not generational not in this regard this conflict is more political are and do you find that political discussion going on and how do you see that developing over the next few years i feel like we're headed toward something like a universal basic income i think that you know over the past year that idea has really gained a lot of traction we're seeing it sort of tested now trial balloons of of these stimulus checks put out their end. i mean honestly i think that that might be the best path to transitioning to a big coin world. so that like you're putting some of the bad money out there as it's being printed and giving it directly to the people instead of giving it directly to the big banks to lend out at low interest rates and the whole cancel on effect that we that we know know well and have talked about many times in the show and just give it to the people and let them buy because that might be the best way

for us to move forward so i would i would welcome you know a movement more toward a u.b.i. type system i think be a fairer way to transition to a big point world ok i get it so you're all for socialism as long as it. makes for monetary socialism as has been benefiting you know the one percent point one percent for so long that you know you toward the end of this collapse might as well throw a little bit our way you know yeah fair enough now let's talk about another political conflict where totalitarianism and i'm talking about augusta and karstens is the general manager of the back of international settlements he's in the news a past week saying that it should be the central bank digital currency it's not bitcoin that should be the next item a player for as the u.s. dollar fails so he's looking for a currency to tell terry and a 24 hour surveillance state guided by one very large individual somewhere in europe your thoughts you know this guy is running the central bank of central banks

and you've had no me prince on the show before she's at a great book called collusion which i really enjoyed and learned a lot from. it's kind of it's a great complement to the creature from jekyll island which focused on the development the fed this is more of like the international central banking system and yet he's sort of the final boss the big question i've always thought about him . and here he is talking about this was actually i look back at it it was on this clip was on twitter today going around but it was actually from an i.m.f. meeting in october of last year and he is talking about central bank digital currencies cross border payments and how c.b.c.'s could help you know make those more efficient etc and make you know transactions between central banks more efficient. she dropped a little nugget in there maybe revealed his hand a little bit because he was talking about using central bankers will currencies to basically get rid of cash because we don't know what someone's doing with the 100 dollar bill but with the central bank digital currency we're going to know what

they're doing and who they are and it's a it's a path toward this finalizing sort of the grand plan of this payment spend up to this orwellian future and for now the hair us want declines going global right this is true the rumors are true we're excited about our international rollout in kind of the 1st phase of our international business clients will be able to fund their accounts with wires transfers and to be able to make instant buy all individuals are welcome for entities works up being businesses that have english language formation documents just in this 1st phase but we'll be working to make our entire suite of services like auto stacking our automatic recurring buys available to everyone outside the u.s. benchley but this is a great 1st step for us really excited great well that's going to thanks so much for being on the kaiser report thank you max all right that's going to death of this edition of kaiser report with me max kaiser and stacey abbott want to thank

our gas price plants and until next time by the. elderly forward to talking to you. that technology should work for people. must obey the orders given that human beings except we're such orders that conflict with the 1st launch show your identification we should be very careful about artificial intelligence and the point only you see is too great trust. me very good with artificial intelligence will some of the demons. protect its own existence as.