by intervention from the commanding controllers but this is a signal they cannot stop and that's the french farmer now another french farmer when he's been dumped in manure and government buildings you know the thing going to go down it's going down and ponzi go boom that's our 1st headline the spac market is in the process of detonating and it will take the ponzi sector with it this is a piece written on wall street dot com specs are special purpose acquisition companies and they involve these pipes which are private investment and public equity so there's you know any time you have more than one shell when you're having to you know maxis to be a magician in times square and if you have to start doing all that sort of maneuver and moving the shares over there on that over there and this over there but you have the shareholder you the retail person are going to get rich right that's usually a sign that there's something going on well this is arguing that the whole stack

market and last year in 2020 they went boom exploded and the amount just like in 1992 i.p.o.'s in the dot com bubble well he's saying this is similar to that dot com bubble where you have schemes of all these promoters and people pushing these facts and there they have insider shares that they get to dump so he's saying that not only is the schedule of the on locking of those shares by the insiders from $20.00 to $20.00 now starting to unwind so they're going to start dumping on the retail market but also that interest rates and this is where i think this guy is wrong on wall street dot com and it's not well for term south but i think he's wrong that he thinks interest rates are going to go up and therefore the whole ponzi scheme will fall apart but you and i believe that the fed runs its biggest ponzi scheme of all so they can't let any of the ponzi schemes fall and they'll end up buying the spac shares as well right so it touches on 2 major themes there.

they're one as you point out there with interest rates that the low rates are constantly enabling a pipeline of fraud right so and all the mistakes are responded to by either a bailout by the government or this extend and pretend you repackage all the fraud and you increase the maturity at a lower coupon rate that's been going on for 40 years and you're right to compare it to the dot com era is probably the closest antecedent to the spac fraud in terms of the dot coms arrow when very when the dot com bubble hit in the ninety's and companies that go public with just a few shares and the wall street was complicit in creating these enormous 1st day pops and then the unlock shares would appear and these stocks would crash and the nasdaq lost 85 percent of its value over 5 trillion dollars in the in the ensuing crash of nasdaq but then that led to the mortgage boom

and bust of 2008 was a repeat of the dot com crash but repackaged so the 2nd major theme is that the wall street frauds going all the way back to the twenty's they're not different they're repackaged rebranded and sold again it's the same wine in a new bottle so the spac frog is just a variation on that dot com fraud which is a variation on the mortgage sub prime fraud which is a variation on the portfolio insurance fraud of 1987 all of these periods of fraud on wall street enabled by the media enabled by washington d.c. a trifecta of fraud they that is remember fraud is the underlying business model of america if you remove fraud the g.d.p. would be it would be negative 20 percent as you're pointing out it all started in the dot com boom and also during that time that boom was used to. to get rid of

glass steagall to introduce the commodities futures modernization act which enabled all the huge fraud on the quadrillions of dollars level in the derivatives market but it also helped us export our jobs to china so that's the underlying fraud in this situation is that we don't manufacture anything here we don't create much wealth the companies like the tech giants don't have many employees so they're not they're just shuffling around they're siphoning they're scalping the economy for for a few nickels here and there that adds up to billions of dollars over the air but the fact is that that's the underlying situation that's why we keep on having these cycles of fraud because they need to concoct a new one to generate an illusion of some sort of activity awaits if i get some of this money floating into the economy so each point out like that this is similar to the a to the dot com bubble and everybody keeps on using the same example life yet none of these facts none of these companies were allegedly going public with and most of

it is under that whole e s g thing which is like environmental and you know social justice sort of stuff that they're feeding into that just like when we go to war we never do it for the oil we never do it for geo political imperial reasons we do it to save the women and children all the same sort of stuff and that but the example that always gets push is amazon what amazon lost money for years and therefore we're going to make money just like amazon last year there are 248 specs and this year already in 2021 of the 1st quarter there were 296 so he is saying but let's look back at the internet bubble a v.c. firm with i.p.o. $4000000.00 shares at $20.00 the stock would open at 50 and at the end of day it was close at $100.00 everyone chased it to get him then the brokers would upgrade it in the c.e.o. would go on television with a $4000000.00 share flow it was easy to manipulate the shares higher off in the newly i.p.o. company with low. well north of 100 a few weeks later it was

a virtuous cycle and everyone played the game what was left unsaid was that there was another 46000000 shares held by management and the seas and the shares would hit the market $180.00 days later you know in an era of no velocity of money lost is low the fraud velocity is fast playing the at these frauds have to come in fast we know that the last then 20 percent of income for high net worth individuals and corporations in america is taxed roughly 80 percent is offshore and that's the real number and so to keep that dogs going you need a velocity of fraud so the money laundering that goes on if you can get from let's say some prime mortgage back to rivet a package that was fraudulent he sold by goldman sachs and then that gets 6 trotted in front of congress and they're questioning it while the question is going on they're rushing into

a spat right so have to keep one step ahead of the law and so this will blow up of course but within 6 months there will be another major ponzi fraud it'll have another funny name and that's that 80 percent of the the money that goes completely on untac since under the radar 20 percent 80 percent that's just of the velocity of the fraud and nevertheless it does cause the big big moments of victimless crime however when i look and i see the homeless and the starving and the medically in secure in america dying on the streets i would i would think that maybe those people are the victims right where how these suspects operate and they're kind of similar to the set up of the internet bubble and that collapse and the how that collapse happens is that he said once the shares of the insiders unlocked which dwarfed the amount of shares that were floating on the market at the i.p.o. . oh. you know they had 10 times as much shares that they held versus the share in

the retail sector so once they were able to sell it they dumped on mass and of course crashed the market so he believes we're at this sort of situation right now where a typical spac deal involves a few $100000000.00 raised for this back trust this is the only real float then a few $100000000.00 more is raised for the pipe remember i said that was the private investment in public equity these guys are buying it $10.00 because they plan to flip for again as soon as the registration statement becomes effective which is often a few weeks after the deal closes when a company merges with a spac billions a newly printed shares are given to the former owners those shares start to unlock a few months later in various tranches finally the promoters behind this back get to sell of course not all of these are fraudulent but when you're having all of these companies the shell companies being like merged into this and that and

instead of just like a company like amazon is a company and it has an office and has a c.e.o. and that's the guy he is that was is the company and sets it up to sell books that's what he started out online and then you know you know what the entity is here it's once they start introducing these things a lot of fraud can enter it and that's that's when you might you know find suspicion you can't compare it to amazon the comparative the blind check pools of the twenty's that's what this is like and similar to the dot com crash well tell people what the blind check pools were well they're in the twenty's wall street would just float i.p.o.'s and companies with no business plan and just raise the money 1st and then we'll think of something to do with the money 2nd so they feel like company a b. c. d. they don't know what we're going to do by supplying check blind pool we don't know what the money's going to be used for same thing with their specs either a it's they don't know what to do with the money they have no business plan so it's not like amazon that's a stupid it comparison anyone who makes the comparisons and it they they were. the

money with no business plan. or number 2 there's a company out there that has no business being in a public company would never pass muster with the f.c.c. to become a public company they reverse themselves into a spec and become a public company so that's just and remember when these things start blowing up we're going to have the other the flip side of the major fraud enabled by. they're going to use the 0 percent interest rate to borrow buy back shares to keep us afloat yes they'll do that or they'll get a bailout from the government and the taxpayer they mentioned that that happened to the dot com bubble where the banks that underwrote this whole thing they bought stock in the open market actually to promote the price to push it up to continue the bubble and yeah so if this guy claims that this is only possible with 0 percent interest rates in fact negative real rates so that we have the negative real rates and therefore the fact that these complex have no business model or business for the most part like it enables this to happen so i mean look it's great if you can

make the case that this is a now element entrepreneurs' to build businesses but we know that it's just gutting the economy of economic vitality causing massive poverty in america violence unrest in a degradation of the country as a whole losing respect mortality rates are going up infant mortality rates are going up because of this is not an entrepreneurial this is the financial system baumann of the country by a few to crowds who are given free money and no morals or ethics to do it ever they want in the results are what we see on the streets today i mean that's it now i want to i want to point out this of course is the end state of just like what the cycle was in the 1920 so we hollowed out over the eighty's and ninety's and 2 thousands through private equity hollowed out the real economy other real manufacturing the wealth producing companies they hollered those out and so now you have to create fictional company cents. so hollow out because there's it's too hard

to create a real copy it's going to get wiped out anyway by private equity say it might as well and then to scheme to find the last few pennies available somewhere is just like but you know there are homeless people all over right now all over the place when you go for a drive there's a homeless person at every single street corner and that's like these guys that these are like basically people begging you for money and you know shaking about nightmarish we're going to take a break when we come back what's more telling you what. humanity has never seen such strange natural phenomena before giant coming to this appearing in the. one after another. but never about the preamp again you think you have. your cue ball you go home does. your theory of.

this one appeared in 2020. how often. does i describe how dangerous oen day for humans. is one in 2021 russian scientists came quite close to working out what's going on. they build a full scale 3 d. model of the black hole.

welcome back to the kaiser report outbacks kaiser time out it got a lot supplied independent and best for all around nice guy prolific twitter and smart did large swath of back to max nice to be here surely and have been printed sense the pandemic began and now biden is promising another 4 trillion for infrastructure an even more challenge instead mean less and yet gold is tumbling why. it has to do with manipulation yes it was slightly rising really interest

rates and it has to do with the nature of this market and this game that you know people run to argue one direction they run too hard the other direction it also has to do with a little bit of you know the current stealing the thunder. you can't deny that and rightfully so i mean i look at them i consider gold to be analog sound money and becoming to be just will some money and they both play a role have different characteristics but they both play a role in the end of. an you know big client as quintus hyperinflated or as the dollar as seen hyperinflation here i think it's kind of amazing hyperinflation is defined as 50 percent a month you know moving inflation and we achieved that point you know in december and then again in march so. you know i think a lot of people were in the somebody camp or whatever excess dollars and a bit coin goals kind of ignored but i don't think it's going to last i mean i can continue going higher but i think this gold corrections just about over and i'm

very bullish on works gold has become the poor man's bitcoin. is maybe ethically gets hard to buy because all the coins are being scooped up by from the miners by the big institutional players people may have to resort to buying gold to protect themselves against inflation as kind of a go slumming in the gold market they say that will help them get us a. yes you know there are different right i mean in the both great i love them both they all love. you know one thing i do think that some of the bit corners who are younger and i you know i could accuse of being you know an older guy i'm 63 and he wanted to because some of the things that the younger decliners are missing is just how evil the other side is here and how they are other likely to change the rules of the game on us at some point you know they did it to the brothers they do to me on september 23 and you know 2008 you know they're eliminated short selling the financials you know they've done it at various points in time they did on

a game stop thing and you know the notion i mean look i don't it's i don't equate i think it's going to win i think it's all it's beyond attack every cent that i don't you know i think there could come a time when the government could take some swipes at it and i don't think those would be particularly good for the price and so you know i think young people who say oh i got to be quite 100 percent because i'm from my point of view you know that's not sounds money management you want to have diversity you want to recognize that all these things are just based on probabilities not certainties and so to be a 100 percent declines are all goal is in my view a mistake because i think you know there's no swing back and forth as my has my a summation holds that's true i suppose. that the government might come looking for a bit coin but of course it could be interpreted that it cohen is out there stocking the government you know it's like. file swapping back in the ninety's on

the internet some napster and then the subsequent generations of file swapping with bit torrent teixeira it totally destroyed the recording industry as we know it and they had arrived at themselves as streaming music services at a subscription this is doing the same thing the banks and central banks it will only destroy these institutions forever they'll never coming back and we're going to have a new business model based on picc line the sooner people wake up to the. the better i mean otherwise the pain that's going to be really hard for people like ray dalyell the chest he's got one foot in big cohen and one foot and you know jay powell says back pocket. i agree and look i don't want you back and back i'm very much aligned with that point of view i think the only point i'm trying to make is that some of the young people who are filing into bit going you know are nowhere or not thinking through you know if they can haul all the way through an 80 percent drawdown great they'll be sliding into longer 'd term

but you know think of those who bought it you know 18000. you know you need 27 seeing and and they didn't follow you know and so my point is just that you know as an investment manager and as somebody who's looking at advising people you know yes it could be the fastest running horse but it's also volatile orus and you have to understand i mean when people say you should be a 100 percent white and nothing else that you're exposing yourself to the risk of a drawdown that might shake out somebody who doesn't know you and standing up to your hair or that i mean when that drawdown occurred i don't. but i you know some people are just priced as again because it's the new money you know they may not be in a position to do that or they may not be strong and out and hang on to the bounce or i don't disagree with your conclusion about where we're going to. take some time let's talk about inflation because you know people have been buying gold ambit claim because of inflation the fed is reporting c.p.i. is 1.4 percent what you sent me

a tragic just like they are lying lawrence going on yeah this is beyond a 6 joke i mean it's just it's so funny it's you know it's like how can you tell a lie the lips are moving it's the kind of stuff. you know the price of absolutely everything is going up it you know many cases high double digit rates you know and so. you know it's only a matter of time until the bond market wakes up to that and then of course the whole thing on rattles or money wins so you know i don't know what to say. so i found i watch tells a narrative or his speeches in front of congress carefully it was amazing to me that he takes the view i mean 1st of all the conditioning us right he says yes inflation is coming and that doesn't surprise them and so they want us not to be surprised but the new code word that they're using is it's transitory you know it'll it's all related to supply chain issues you know so sort of the code crisis

and you know certainly there is some of that i mean i you know you look at the lower prices and what have some of the lumber mills and stuff and that explains a piece of it but it doesn't explain all of it across every single category and there's almost nothing that has decreased or is only inflated at 1.4 percent in the last year so i don't know how the government gets those numbers and i try to do you know that you said done except for but it's just a lie it's a blatant lie and people know it and thus they're protecting them so by moving away in a gresham's law like effort to move into some money if you do the numbers and included in the c.p.i. include things like education health and housing then they actual inflation rate is 10 percent to 12 percent. right now right now going back to 17 and inflation is a tax right it's a stealth tax and going back to $776.00 you know there was a phrase. no taxation without representation i believe right and

so who voted for this who voted for this inflation i don't get it why representative in government or is it all right we got tyrants and it is this is what we were warned about but 200 something years ago lawrence we have got tyrants back what are we going to do look i mean we're going to hope that the sound money system to somebody on. i didn't bring this all crooked system down i mean the system is so broken we all know it i mean a perfect example this in my view is if you're old american people 80 percent will say they want term limits if we're representative democracy and 80 percent of the democracy was something why can't we get it well it's simple we can't get it because the people who hold the offices don't want to be threatened in their power in those offices and so the system is clearly broken we can all see it and the 4th turning will fix that and i think that you know some money movement is probably the best lever we have to bring this broken system down and then to reform it and you

know i think that's what led to the memo quite sexist this because indeed you know these guys have power because they can print money and they get a benefit from look at jillian effect and if we take that away from them they won't have power anymore or a lot more of us in our of them and that's the weakness in their faith in their you know in the scheme that they're running and so it's going to catch up to 0 and you can just see it coming let's talk about stand back miller for a 2nd he's very very short the us dollar mainly because of the 25 percent increase in money supply so that's a losing tray stand back and while it hasn't had a down here since 19812021 could be the big down here for stanley's longball these a short the dollar is getting crushed what do you think i don't know i don't deal much in the currencies and to me they're all you know the dollar versus other currencies i mean they're all feel right so i see all this you know milkshake talk and other views on. twitter as to where the dollar ought to go i don't have

a clue i've never really traded the currencies except insofar as what i consider the ultimate currency which is gold and the emerging ultimate currency which is spent coins so. you know druckerman is a smart guy no doubt and he may be right you know the timing on the dollar is tricky for sure tricky i'll say. i've got a 10 year treasury. spiked a little bit celiacs ago now it's kind of going sideways but a lot of like bank of america is saying that the 40 year bull market in bonds is over that's a widowmaker that's that's a trade that's put a lot of people and they finance all money management cemetery over the past 10 years but it is the 40 year bull market in bonds over lawrence do you want to take a stab at that it could be yeah i mean that's that's a great question let's go back to the premise that the bond market is actually a market right i mean above market it's not really a market like the bomber it's

a government signaling mechanism as best i can sell so you know you want to know where your bomber and bomb markets or asked look in the treasury are going to you know i mean i you know it should be over it's sort of been over long ago but it's not the reason you know the old fire ins right now that's that's how it all ends right i mean you know the bond strong sitting there getting boiled to say ok you know me you know $170.00 on it's an year and meanwhile inflation is raging you know it's something to explain to 110 percent you know i'm getting so he got i'm losing it's out of my purse or power over the 10 year old period of you know i want out of here you know i'm going to sell his body go buy sabet point or some gold or some stocks you own just because they at least they move up and they're allowed to move you know in like gold and so you know the set that is going to be forced to buy and then that's going to show up on their balance sheet eventually max you know us humans are about 3 years you were you know i don't see a whole area you know eventually you know this december is going to be named it

right i mean this is the out emperor is going to be completely naked everyone's going to know that you know the vast majority will conclude that they're lying through their teeth about what they're doing to the monetary system and about inflation and they're going to have like rational human beings are going to protect themselves and so you're going to crack up boom right and that's right housing prices are up 10 percent year over year that's why housing. they're having multiple beers over and that's why you know i went out to look at a car the other day our prices were shooting up i mean it's not it's absolutely nuts and speak of you know a 40 $1000.00 car is more valuable than $40000.00 in the bank just what that car is going to cost a lot more of 3 years i'm going to cut it there they have you continue to have a 2nd segment thanks for being on the kaiser report lawrence thanks for having me ok that's going to do it for this edition of the kaiser report was made max kaiser and stays there but want to thank our guest lawrence apart into bio.

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. saying at the risk of no no rush but i thought put a stop yes it. will support things on their way. back home like american suffered from racism and a complete lack of prospects. of the real. one by else a store or 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 some of the african americans who were through during the night. around great crowd. moulay and the wolf you know going to go. you. know

almost a 100 years later the history is repeating itself my great grandfather george time went to russia. probably the worst time to go anywhere why not me. why didn't i come here. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation for community. are you going the right way or are you being led. away. what is true what is faith.

in a world corrupted you need to descend. to join us in the depths. or remain in the shallows. an entire village in alaska has had to move if another country trying to wipe out an american town. we do everything in our power to protect the. water they escaping climate change causes the same threat right now alaska does seem some of the fastest coastal erosion in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. it is fast and means the river is $35.00 closer than how. long was 4 i don't think we're part of america 1st from.

not so happy easter in europe or some e.u. states expand coated curb swallowed as announced the partial closure of vaccination sent. many americans losing their jobs and small businesses having to close during the pandemic is revealed some of the biggest u.s. companies paid no federal corporate tax on. the hollywood film the mauritanian to picks a story of the man widely regarded the most tortured detainee at guantanamo bay for the director of the film on the prison his lawyer. there was no evidence at all this still to this day remains no evidence against. there was always pressure against cases in more.