the hi max kaiser. this is the kaiser reports. you know him on mosque is not the only silly, silly, silly man. there are other silly men facing. right. well, you know, the billionaire owner of the dallas, maverick basketball team, his name is mark cuban and they're calling at the cuban missile crisis. yes, we're not going to mentioned the coin he invested in, but he invested in one of these thousands of alternative coins to bitcoin. and had the rug pulled as they say, it was a scam and it was an exit scam. they took his money and ran along with other investors. and the thing is that here's a billionaire, obviously qualified sophisticated investor who got duped, scammed, and what did he do?

immediately, well, he was talking to joe, we sent all over at bloomberg again over on twitter. he was tweeting out that we need some regulations. yeah, so there's 2 parts of this. first. all of these so called all coins including a theorem and this particular garbage kind is built on top of a theory and they only exist to steal people's bitcoin, right? so the world is full of sharpies, and they're looking for jumps like mark cuban. and the he falls right into it because as i've said on this show on other shows for over a year, now narcissism and big point don't mix. if you're a narcissist, you don't really grok or get big coin so much because it's, there's no center to it. there's nobody really taking credit for it and you have to be humble before bitcoin and that doesn't work with ego, maniacal, narcissistic. easy 1000000000, are think nincompoops like a mark cuban. so he was a champ waiting to happen, right?

so that we predicted actually was going to mark, came in, and it's exactly what i predicted. what happened happened just because i know that type. the 2nd thing is that you've got the i'm going to look at the turn 30 year treasury notes. so here we showed the chart of the scam coin that mark cuban multi billionaires, sophisticated investor owner of businesses had invested them and they have the rug pulled from the predict. i want to look at another story to max and i have obviously been covering on cars report for years, and that's the coming rub pull of the us dollar. and here's the 30 year treasury yields, after the fed chairman pow spoke 1st, who is suggesting that there's inflation and blah, blah, blah when they on bloomberg and cnbc in the financial press say, you know, the problem with big coin is too volatile. this is like representing this is the underlying collateral of quadrillion in, in the economic activity, derivatives, financial products,

all of that is representing that. and that's like a run poll looking like a rug pull sort of move. this is another scam says we've, we've pointed out, it's a good graphic representation of a dramatic part of the scam, the rug pole. when the, those who are shorting bonds get absolutely decimated the widow maker call than we've had people on the show for years saying all the bond markets popping out as topping out for sure. and it hasn't top down 40 years. so here you have another example of it and what, what happens is the federal reserve bank will go on and do a press conference and say they're worried about inflation. but they don't see them raising rates for 2 years, right? here's the facts and i'll state them again and while they were doing their press conference this week, i gave a verbatim kind of answer to what the questions that they were going to get in

their answers before they didn't have or before they gave the answers. i gave a verbatim exact word for word what they would say, and if they are basically in a position where they, it's impossible to raise rates, but they will always threaten to raise rates. there is a runaway inflation now, but they will never acknowledge it. in fact, they'll call deflation, and the time you know is going to go under one percent, and that's where it's about 1.5 percent. that's down from 20 percent, where it was with paul volcker when i started on wall street in the early 19 eighties. but it's going even even lower and that kabuki theater of pretending like there is some kind of price discovery in the bond market or the american economy as a whole. remember know, price of anything in the american economy is based on supply and demand or free market capitalism. every single price is exactly dictated by a polar bureau of policy makers. it's soviet union times in america. meanwhile, rushes plowing ahead and becoming free market capitalism. you know,

figure that one out, but nevertheless, there you have it. so bitcoin hyper big quantization big queen is replacing the us dollar as a global reserve currency. eventually this is happening is happening right now as well. so one of the arguments that they say about bitcoin is, is to volatile. they also say that one tweet from the likes of yvonne must can cause it to tumble. so here is one statement from the fed chairman jerome, how it caused the bond market to crash. essentially it tumbled and yields rows the bond prices down. and here are the opposite. happen once the, you know, investors figured overnight, they're like we're being tracked. we're being con, this is what a scam coined people do they trick you into keep on piling into their coin. then they, this is the, the bond market rallied and yields collapsed immediately after. so this is the fed statement, and then this is once they figured out what the,

the subtext at the fed was saying was actually things are still bad, right? you remember that cartoon peanuts and lucy with all the football for charlie brown, and he'd come racing toward the football. and just as the last 2nd, lucy would pull it away and charlie brown would fall on his back. and he did it over and over and over again. well, sense ground greenspan now we were talking 30 years. they've been doing the same thing every quarter, every single quarter, seeing as jack sam play. and the media eats about. they report that, oh my god, they might raise interest rates, but they can't interest rates because there is no possible way i so 100 is very rarely do you have guarantees in the financial world, but that's a dead certain guarantee. they can't raise rates that stop. that's right, so we've seen the rug pole that deceived mark cuban in the ult queen market. now we're seeing a rug full looking sort of movement and the price of bonds. now i want to turn to where the rum pull on all of this is happening and that is that inflation number,

what, what the price fixing of the, the price of money and how much it's taking from you, which is what all kinds do really right as max out at the top of the show. a what they're hoping for is that you send them your bitcoin and they print out their free all coins and send it to you at no cost to them. they didn't have to mine it. they just printed it, send it to you and you give them your hard earned bitcoin. so the similar thing is happening as kyle bass has pointed out this week and cnbc, kyle bass says we have negative real rates of over 10 percent. kyle bass says actual inflation is 12 percent. so again, this is something that we've been covering. this is the rug poll. the fed goes out there and speaks to you and says like, all we're really worried that inflation, michael, you know, we're trying to get it to 2 percent. we're trying to get it to go up to 2 percent. so meantime we're like, dude,

it's 12 present is already 12 percent stop pretending that you're trying to get it up to 12 to present. again, we've been talking about this and i'm glad to see is being mentioned on mainstream media. but you know, basically you've got this, the negative rate of 10 percent, which is you take the it take the, they'll say the 10 year rate or the roughly 2 percent on the interest rates. and you subtract the actual inflation rate, which is 12 percent. and you end up with a negative rate of 10 percent. so getting back to this real inflation rate of 12 percent education, medical care and housing. if you look at, in terms of the price, people pay for houses in the last 10 years. these things are up 500 percent each. so some things like clothes made in vietnam or china, or down a little bit. when you add this all up into a genuine basket of stuff that people actually consume the end up with an annual inflation rate of 12 percent. the last time inflation that america was running this

high was under paul walker dimension his name again. and he had to raise interest rates of 20 percent to wipe out inflation. now when w i n, if you've ever gerald ford had when buttons wipe out, wipe inflation. now. so this is an incredible crisis because inflation learning at this level is an unbelievable wealth confiscation scheme from 200 and or 320000000 americans to a few guys on wall street. that's it, right? but again, comparing the us dollar to these all coins where they're trying to get your hard earned well, your store value, just like the us dollar 50 years ago was created out of gold gold fax currency. so paul volcker had to raise rates to 20 percent to pretend to buy, instill confidence, and the global trade partners that this was as good as gold of the us dollar was as good as gold. so here we have a similar situation where that, that,

that organizers behind this all coin that is the us dollar. that they have to keep on doing things to plug in the holes or change the metrics. so one thing you'll see is, okay, our point essential life, we have this head of the organization that runs this coin, the lead developer, and this is the coin, this person created and ok where fast we have more transactions per 2nd. them bitcoin, they try to change like a metric for you to look at. so we, we are seeing a similar thing and we see it and the repo market that remember, before, even over here we covered the story of the interventions and the repo market. it turns out that there were some banks and trouble then now we have the reverse repo market. it's like 750000000000 and one day. and this is because of all the other interventions they've done, the cause consequences, rippling throughout the system, whether it's in the banking system, the money market, or like all over the place. so they keep on having to, it's

a daily thing of keeping this whole bad code together, right. and we've covered on the show many times our wall street will rename something. yeah. in the hopes that people think that it's different. now they don't want to say they're launching q a for, but they are launching reverse repo too. and it's the same as q a, which is the same as debt monetization, which is the same as money printing. okay, all of those things are exactly the same, but if they don't like to say that they're exactly the same because then people would panic. but if you say the reverse re power, people like i wonder what that is, i have no idea. sounds like they know what they're doing. oh, by the way, my cost of my day to day life just went up 10 percent. i don't get it because the government says it's deflation. oh is it because they're lying repo man, they're repossession. this is a rum poll. this is a rug pole. this is repo man, this is. this is it. this is howard dean. stan howard, hiring dean,

stampin repo man part to with charlie. sheens brother will be back right after this. don't go away. the me ah, when i would show the wrong one, i'll just don't need you to fill out this thing because the application and engagement equals the trail. when so many find themselves, well, the part we choose to look for common ground in the who's

always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive and interrogation. you've gotta be ready to stay around. definitely don't want to be going to trout in the jump suit. one cuffs you're more likely to walk free. if you're rich and guilty, you are. if you're poor you got 2 eyes and 2 ears and one mouth.

so you should be seen in here and a whole lot more than you're saying if you don't take that advice, usually going to dig yourself a whole the me welcome back to the report time now to go to joan evey. joan, welcome back. thank you. always a pleasure to be on. alright, so your youtube channel is youtube dot com, forward slash tone bay b a y s. and of course, i really started picking up any work during the world crypto network days during the block size war says it's known and you and a couple of others were really great at broadcasting exactly what was happening to the big point. it was a critical moment in history. the book came out recently,

block size wars to have you seen that book the to read the book doing good job capturing it. i've heard about the book i've not had a chance to read the book, but there's been a couple of people that have been doing a great job documenting that event as while i saw. busy a video by the core mechanic who documented it actually, but i do need to review the book as while because i was there throughout all of it and it actually worked out exactly like we predicted, which was good to be on the right side of history. i like some other people completely and you and the vortex and a couple of others are very thorough and convincing. and that was all about segment and segment adoption. and now we just went through another upgrade with cap route and it went really smoothly. this time, i must say it was that expected. we did go fairly leave though. there was a little bit of contention within the developers because some people still feel that the miners have a little too much control in the point space. and that's mostly bathroom perception

. and perspective, i don't believe the miners have that much control but it allows people to go. busy and start tweeting about how centralized mining years or how much energy mining is taking up, which are just silly arguments. and what you must did was really responsible. he used incorrect facts about the big point mining system. and even if the facts he used were accurate, he then mischaracterized what they mean. so he was wrong on both fronts and it just doesn't look good for the because ecosystem. when prominent people just don't know or don't understand the properly. right. but we've kind of and through this before going back to the block size war villain in that time was roger bear who ended up with a hard forge with his version, a big claim, which i don't think is even achieved 2 or 3 percent of the market cap of or the

rate of big coin. then we had going forward other posers who come in to the scene and grab some attention, whether it's a business person or an economist. so it seems like the line i would put him into the category of the one with the moms club, you know, and in 6 months time will be forgotten. big will be a lot higher, but we'll get your thoughts on that. and somebody else will merge, trying to steal the spotlight. where are we technically because you do an enormous amount of work on the technical picture, a big point. where are we with the technical picture, a big point where you see this now? sure. so i always saw this current bull market run to be very similar to the 2013 bull market run. you are very instrumental in my involvement into big point in 2013 when you guys were covering my 1st incident. so wow, that's where i realize the true power point being on complicate ability. but doc, 2013 had to big run off one in april because of cyprus and the other one after the

so crow shut down. that was fuel by the will the boss and my gosh, but also by the senate hearings and also with a shuttle road all of a sudden created all of the toddlers a big quite because everyone's kind of stopped using it as a, a method. the price exploded and i see a similar structure in the current bull run. and i've been talking about that for over 6 months now where i saw 2 peaks. so we hard to time the perfect top, but it looks like the 1st peak has already occurred. and while we did drop 50 percent, the price and it's possible to drop a little bit more, the beauty of the current downturn is that i'm expecting this downturn to be very short in terms of time. i like to 201415 bear market, which last for 2 years. and the 20182019 bear market, which i believe ended with the coven crash in march. that was over 2 years of going down. this one i believe will and this summer. so it's very short just

a few months. yes, there was some price pain, but by july i expect us to start rising again. and i think this current bull ron, is going to end over a $100000.00 sometime over the next year, you know, and then these down charge, people run into the so called all coins. and he mentioned cyprus and 23rd gene. and the uncomplicated quality of big coin, you know, the people who run into all claims like ether for example. i'm not sure they're aware of the fact that they run on servers over there at amazon. and that if, in fact there is a crisis like government decides to seize your money, like, based on cyprus, to be able to seize your ether off the amazon server is it would take 10 seconds and so it's no, it's not secure whatsoever. that's exactly correct. and this is why once i realized this baggage, going as far back as 20142015 i unit,

the only interesting projects in the space is bitcoin. now it is remotely possible that someone is building something that's may potentially be interesting on top of an area, but it's ultimate down. you know, it's ultimate failure will be the fact that it's built on top of material. which itself is not all that essentially and is not very secure and that's really, really important. so. busy eventually, if your project requires the central a decentralized layer to ping into your project will migrate to be on top of the point. and if it doesn't require the centralized layer, you're better off going with a centralized solution. because to me, at theory, at the end of the day is the worst of both worlds. it takes on the same problems of a centralized entity with the initial problems over the centralized watching. because watches have their full, this point is energy and, and this point is not the fastest and it is cumbersome. so

a theory i'm takes out all the disadvantage of washington without giving you any of the actual advantages. because those things can be exploited. there's just not a centralized problem. the energy usage of the big claim is, is being talked about a great deal right now. but if it's pulling energy away from the legacy system in the money system, in a central banking system, and that's a good, a good listener. it's a great thing and the energy that is full and then it's mental energy. it's so much more important. everyone talks about why the dollar is. so shawn and some people say it's the u. s. military and other people say it's petro dollar. a to me, all of that is ridiculous. there is one thing that makes the us dollar the war, reserve currency and the most trusted currency. people's break as long as america is the place where the youngest and the brighter one to leave their countries and come to america to start. there are companies that what keeps the dollar as number one. and i think what we saw in 2020 that's going to add. i think people are

starting to trust america, much less. we saw the cloud show though, the u. s. collection in 2020. we're not going to pick size here, but it did not make america look good. no matter which side you were on. we saw the protests, we saw that government shutdown businesses. and now the u. s. the paying people to not work. this is way our into been yours will say why i'm going to come to america . the wealthy in america are now being humanize. i mean, sure guys like you last can go gaze. super super super billionaires are still be in like trace. but if you are, but if you're not worth is between 1000000 and say 50000000 or 100000000, you hated using evil capital. that's not a society where people want to move to start their businesses. and they're going to look for other more globally. decentralize option and big ones, going to change the world because now would bitcoin, you need a corporation. you can use bitcoin as dodd base,

as payments are becoming faster and cheaper through the lighting network. so i can see a future where people are defecting from america. they're getting say it would be in passport for example, and then they don't need to establish an entity in any country. they can use bitcoin for their financial transactions and other companies fully virtual. so they don't have to rely on a single jurisdiction. and that's going to cause the fall of the dollar. right. let's start you politically for a 2nd because you do a lot of traveling, certainly before the cover crisis, by visiting many countries. very interesting that a country like russia right now, they have completely divested out of dollars completely. this gives them a lot of maneuverability. now, to do side deals, bilateral deals develop their own payment rails. escape had gemini, of the us dollar, and not have to couch out to the us dollar in the us dollar system was just going to open the floodgates you think for other countries to do the same. it's going to

be hard for smaller country without the resources and without a strong leader that can stand up to america as much as people are demonized. putting has the same quality a strong way are they're trying to do what's better for their people in their view without being bought or told what to do by another country. and this is a big difference. so russia is able to do it, but a small country, like how does an african country stand up to the us government in africa that we're seeing incredible adoption, a big one in jerry and companies like taxable, you know, they've got an amazing app. people are their big quaint and they're trading and it's on campus cable as well. but it's really time i hear ya has declared because any legal they're trying to i mean, right? but it also goes to the leaders, for example, i was in tanzania and stanza bar earlier this year. the reason i was there is because the president stood up to kobe. he tested a bunch of fruit,

it came back positive for colbert, and he says, our country is not doing the whole colbert thing. there's no math, there's no testing. you're all welcome. busy to come, what happens that our president, he's no longer alive, and this is the problem. it's hard to stand up to the west and their power over the smaller nations. and this is where russia and china is able to do it . china is taking it to the next step where china is now trying to control their nation. so i'm hoping that bitcoin will destroy all dot bit coins. ultimate goal is to remove this power from any government. and that will help the world. people will be free or in general, and when i see everyone promoting their own version of bitcoin and they're just trying to inflate the people more with their own currency instead of actually uniting and trying to fight the bigger fight against the globe, off the currency. and the control by the governments of their people through the

currency. the crypto space is creating millions of currency. we all thought that have a $150.00 currencies around the world was bad. now we're in a world where there is a 1000000 currency that i don't think that's any better to that point. the phrase rules, not rulers. what does means you then think, why? because it has very clear rules, is governed by math and consensus, and use of electricity proof of work, and anyone could contribute to decentralizing bitcoin by running a whole node. it's free. it only requires a little bit of your time and a little bit of an education curve. and you can keep bitcoin decentralized. so dot, everyone follows the same rules without being controlled by a ruler because there's nobody in charge. right? so that note is that the basic unit of the decentralized revolution,

it is because doc node allows you to validate your own transactions. you are enforcing the rule. and other way to look at it. when someone gives you a $100.00 bill, you have no way of knowing that it's counterfeit. but you are the pansy that someone else will take that bill with gold, you have no way of knowing they would go to the goal is actually verifiable goals. but with the coin you do, your cell phone can verify the authenticity of that bitcoin coming in. and if you are not running your own node, you are relying on someone else. authentic katie, that big point transaction for you. and while. busy that is somewhat ok if everyone is relying on someone else attempt, the katie, the we're back to the old system. used to be enough. self authentic heating nose to keep the whole system honest. and anybody can do that. great. john, thanks so much. may on guys report. thank you max. all right, and i was going to do it as additional tries to report with me next thursday or one of the think i got tone days. so next time

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