the daily show talking about max kaiser and all the may ham is creating all over the world with bitcoin. yeah, i would play the clip of course, but he played clips of max. but you know, the youtube algorithm would take us down. should we play a clip back of him playing a clip of us all very met her. right. well, speaking of meta and max kaiser, being the willie wanker of bitcoin, you know, the world is falling into the you know, what max has been saying for a long time, what kinds reports i'm reporting for 10 years now. we started 10 years ago, right here on christ report, talking about bitcoin and nations are falling bitcoin 1000000000 and billionaires are falling, and the latest is rush and 1000000000 are all like dera pasco, last bank of russia for ignoring bitcoin. quote, even poor el salvador has taken a simple path, recognized in bitcoin as a means of payment, as we reported out, or it has passed the law whereby adequate is now legal tender in el salvador. and

here are this guy from russia. billionaire wants to russia to do the same price. absolutely. right. and what we've been said on this show is kicking in, you've got global hash war as i call the countries are now competing to accumulate the most bitcoin is part of the game theory that's built in to the incentive stack . that is the magic of bitcoin. and it was unpredictable who exactly would take the 1st step. we talked about possibly japan, possibly around. possibly. russia turns out that el salvador is taking the 1st step toward a bitcoin standard, making bitcoin legal standard. their g d p is now set to triple property prices. already rising, there are people flooding into the country to take advantage of this shank or a law of bitcoin. and yeah, russian billionaire is right to say that it's time for russia to do the same thing . it's the ultimate chest move. i hope they don't wait too much longer because you know, we've been on here for 10 years saying this exam back, same thing. ah,

my friends in moscow, you're going to feel awfully silly. what do you have to pilot at 3 or $400000.00 or coin you could have gotten in at a dollar up. right. but, you know, as i mentioned in a recent interview that we did in the big white space is that the united states took the world off a gold standard off a hard money standard. and that was the 197150 years ago in august. here it would make sense that the tiny, one of the smallest economies in the world did the opposite, took us back on to a hard money standard. and it could get away with it because it was so small, it was, it's the 1st of the game theory of the game theory predicts that this would happen, that somebody has to make the 1st move and al salvador has made it. and the other important thing is ok, el salvador is a tiny economy and only has a population of some point. 6000000 people. but, you know, they have volcanic energy. they have geothermal energy,

but you can export geothermal energy and that's a problem with big coin. they could start exporting geothermal energy, i mining bitcoin, the same thing with oil or natural gas rich countries like russia. you know, you have, look at the pipeline dramatics, like all the geopolitical tension about that. well, you don't need to even need to build pipelines. you just mine bitcoin and that's, that's, that's the money you earn from. like you don't, the big one changes a lot of things. one iceland been doing for years, right? they have g o thermal energy and export it in the form of aluminum ingots. right? so they have luminous smell, the lifeline, and they smell the aluminum, then they export the aluminum and they explore their free energy essentially from geothermal. el salvador has essentially almost free energy from volcanic eruptions from the geothermal. they can mine bitcoin, turn it in, turn, energy into big point. now they've got a hard currency and they can now play the world bank. tried to say, hey,

you can't do it. and then i'll solve it. our said no, no, no, your charter actually says we can do it. so the world bank will have to rewrite their charter, but the world bank is irrelevant. so as the i m f, so it's christy, the guard in the face of been going. and so now you've got a situation where jack mahler's as a company called lightning strike, they are signing up 20000 people a day in el salvador. he mentioned they've got a population of 6000000. that means that within a year, the entire population of this country will be lightning network, which is 2nd layer point doing payments and earning the funding remittances are going to add billions of dollars of that economy by cutting out the middleman like western union, the charges exorbitant fees, so this is a country that is defining the 21st century and the longer other countries wait, the worst it will be for them because the price will just keep going higher. right . and speaking of remittances, of course, el salvador was already on a dollar standard, right? they were already on a us dollar standard. they use us dollar, at least as legal tender there. but in terms of, you know,

what hard money does for a small economy like this that has been beset by inflation. you know, for a long time and often periodic bouts of very high inflation for a long time. is it stabilizes, it neutralizes monetary policy, right? it restores honesty and confidence to businesses and for indirect investors. so if they want to invest than they are, that's part of the reason why they adopt the us dollar, but the us dollar is the strongest of the few out currencies, which are all melting their melting ice cubes against bitcoin. so if you see it already the immediate response as businesses who want to go there because they want, but they know no matter what they the big coin is the stable, neutral network upon which they can build the foundation of their businesses and enterprises. i think about the president of el salvador, how much use your, his job will be because now is monetary policies, but outsource the big one. so there's no central bank wrangling,

and there's no worry about what's the central bank going to do. now contrast to united states, for example, you got the entire political spectrum as you've got one side of the political spectrum, mostly democrats and liberals, begging the central bank to print more money for their social justice agenda. and then you've got the other side, mostly republicans on the right, who are begging the central bank to start printing money, because you're fiscally being irresponsible and you're destroying the dollar in while, get rid of all that you don't need the central bank, just outsource your entire monetary policy, the big point, you know, you see this brilliantly played out almost every day on twitter by want they m p 's in canada. who gets up and make speeches every day about the dangers of money printing. and imagine canada, if you removed all that conflict from the canadian government, it all governments in the world can remove all of the interesting and conflicts that come around because you've got a central bank that's doing stuff that most people believe is irrelevant,

fraudulent or both. well, since the pendant bank in the lockdown, of course we've seen extraordinary money printing measures. we've been covering that for the past year. and the inflation is starting to hit hard that even fed members that are relative dogs compared to the rest. they are turning hawkish. the talking about the really fast, rapid rising inflation. and i saw this, this melting ice cube in my inbox 2 in 2 ways this past week. first of all, you know, they have this, you know, an app whereby you could order your supermarket groceries and they deliver it to your home here. while i was using that during the lockdown. and then i hadn't used that for about 4 or 5 months. and i just hit reorder of an old order, just order the same things and the, the same things, the same items went from $278.00 to $312.00. that's a jump of $24.00,

almost 10 percent. and then i got a notice from amazon in my i had some coffee you know, stored for later to purchase later. and it jumped by 30 percent coffee prices went up by 30 percent for me. do my part to boost g d p growth asked me anything and i have a link to it showing that the price jumped from $7.46 to $9.99. this is where the rubber hits the road. this is where all those talk about monetary policy, macroeconomics gains in his own versus austrian school. we've been saying for years that most people have glazes over and they're like, well, whatever did this is when suddenly it gets real because suddenly energy and food prices start graphing it up in ways. why are you suddenly can afford the same food in energy that you were able to afford? and now you're asking questions. why is the purchasing power of my fear money collapsing? where did this come from?

well, we've been saying this for 10 years and we're trying to prepare for this. it's now it's hitting the inflation. the sand is saying to things that are both fraudulent number one, they're saying it's transitory. it's not. or secondly, they'll say it's not inflation, it's deflation. they define rising prices and the grocery card at the energy pump as deflationary. why be the same way that for the reason that charles manson talked about his escapades in los angeles as being somehow freeing for the people that he was slaughtering right there? psychopath. there psychopath. in terms of it being transitory a lot of what we've been doing over the past 20 years since the elevation of china into the w t o. as we've been able to mask a lot of the inadequacies of all global fee, our system, especially domestically as we're sending jobs overseas as part of the trip and the armor. the thing is that the price of goods and lu, especially goods have been getting cheaper and cheaper because of china, right?

well, that is ending as well. in this chart, imports the u. s. are now a source of inflationary, rather than deflationary pressure, dollar weakness, driving price increases. and you can see that it started with the pandemic. and that the, this is the inflation and the goods coming from china. and this is the amount of the u. s. dollar trading against the basket of currencies globally. so you have 2 things as china starting to have pricing pressure power. and also in a way, like you saw in the 19 seventy's, this is, remember we talked about the, the similarities between now in the seventy's and that basically china has a cartel. they are the single monopoly bit the, you know, builder manufacturer of all goods that are shipped around the world. so they're the only one still manufacturing. a lot of other economies are shut down. the u. s. is especially shut down still shut down because of the huge amount of u. b. i, they're huge amount of stimulus money going to the people. so, so it,

because the goods aren't being shipped elsewhere, china does have price and power, just like the opec oil cartel did in the seventy's when they, when the u. s. first went off the dollar at the gold standard. remember they started to ratchet up the prices because they were like, you know, we don't trust that we're actually getting anything in return for our oil. so it was a bad idea for bill clinton to admit china to the world trade organization. because 30 years later, as many people predicted they would simply start raising prices and we would no longer have manufacturing capacity because we shipped all of our factories and job to china. and now where are the clients date of china? ok, let's take a break. and when we come back, much more coming your way the me ah ah, ah,

ah, ah. doing the breathing technique and then take a pool in here. and then no, no, everything goes out to to bring that into the re read stage. we're just dime a field trip tomorrow. i just didn't read

a vision. she me the spine, eagle's nest. need by just yet about in the past year. but i again jack and jones i died. i might talk to you about the most most difficult really the one had to buy the buy they're out of 410 days right on the bank. but we were going to waste water chemical lights and has our, this is going to develop new to them and their international market know that these industries polluting you simply ignore it in one days that mother long and when we loved them. other than that means we lost the in

the, the the, the the me welcome back to the report. i'm back, pfizer. people are still puzzling about miami 2021, put on by bitcoin magazine. the event drew tens of thousands of people from around the world. big point is becoming mainstream with going global countries are adopting it as their legal tender. i had a chance to interview and talk with michael sayler c o micro strategy who's been putting billions of dollars a bit going check it out. c c c aah

so we we talk this morning to coordinate our outfit and i wanted back to our black max wanted me to wear white so we agreed yeah. all righty. my cool sale are. c good the max kaiser high priest bitcoin. 6 there i and my 1st question is,

what does this feel like to be a newbie? you know, actually i was going to tell you i realized that i 1st bought bit coin one year ago yesterday. and so this is the end of my rookie year. i want to get into that. so going to around 2014 your friend eric weiss. he was talking to you about the coin. you can ignore it. then in 2020, he mentioned it again. and within a few weeks, you are buying tens of thousands of big going for you and your company. what happened i guess i launched the faith in all of my traditional investment strategies. and

i, i, i didn't really think much about the dollar and about inflation. i thought there was no inflation, and i thought i could just sit and own big tech companies in the world would work itself out. and i guess around march everything changed and the monitor inflation rate tripled. and it became pretty clear that the big tech trade was a crowded trade. you know, at the point that my niece in her early twenties was telling me about apple stock. you know, i figured that maybe it wasn't cutting edge. so i looked around and i discovered bitcoin, and when i discovered bit, when i thought, well this is digital gold on a big tech monetary network. and it's going to go by a factor of a 100. and then i thought, well, i should buy as much as i can and, and what i tell people in this day is, is why i was buying it. and i was thinking,

i have to buy as fast as i can, as much as i can because someone else might figure this out before and then i won't be able to. and it's really interesting for the shareholders. but i mean, i understand is that you were visited by the ghost. this is joe she in at night and came here in a dream and converted you is, is that's not the po she's speaking through all of her. his disciples on youtube, your laser eyes are pointed right at my brain right now. are you stealing my private key? now you should keep your private key, say, i don't want your private key. rarely. okay, well we just met. so i guess that would be a bit more work let's. let's move on to some recent comments you made. you were on the bill more talking about bill mar recently. and you said the

following. there's something cruel and tasteless about rich white male who wants deprive billions of poor men, women, and children in africa, asia, south america, basic human right. beacon nomic, self preservation, so they can generate a few laughs. this is a very kind of profound thing to say. and can you just talk a little bit about this idea of property right for billings around the world? what big point offers and how you see that? you know, i think after you're study bickering, the light ball goes off. and what i realize is anybody on earth that wanted to own anything, they wanted to own some property has a choice. you can buy land somewhere, but someone can tax it and take it away from you. you can buy gold, but someone can take it away from you. you can buy stocks, but you can never take possession of it. you can buy, you can never take possession of it. you can buy jewelry, people will take it away from you. and bitcoin is the apex property, the human race is the 1st time we figured out how to create true property that you

can take possession of with woods for cost, ody or right that's leaf likely to be impaired. that's most mobile and so it doesn't matter if you have a $1000000000.00. if you have a $1000000000.00, you can buy a building, a manhattan or bitcoin, you'd rather have the bitcoin. and it doesn't matter if you have $387.00. if you have $387.00, you can still buy the bitcoin and take it anywhere. and if you compare to buying silver or gold, or land or a stock, your custodian on your property rights are impaired by everything else. and so i think bitcoin is, is truly a seminal invention of the human race. because for the 1st time in human history, we can grant property rights a 1000000000 people. and that's what i think is cool is

designed to attract a task. it seems that it is, and the level of attacks are rising through the state level, etc. and is it a bug or a feature? i think that which does not kill bitcoin makes it stronger. right. so let's talk about energy for a 2nd. so the total energy, global energy production is about $160000.00 care what hours per year and going to ask the audience right now, how much of that goes into big going? the choices are 10 percent, 5 percent, one percent or 110th of one percent. of that. how many people think it's 10 percent? raise your hand. 5 percent. one percent. this poll such the one to the one percent. right. as you point out a 3rd, the 50000 watts broward wasted. you point out that literally big point is running

on a quarter of the wasted energy. so little of that energy goes into bitcoin and yet we have this, this e s g thing going on. what's your current thinking on this? i think that big coin is an extraordinarily disruptive, beneficial technology to the entire energy industry. and as i studied it, it became clear to me that it's the highest value use of intermittent energy. it's the high has value use of renewable energy. it's the highest value use of wasted or stranded energy. and this is the highest value use of energy period. and it's a solution to developing power plants and remote locations. it's a solution to driving up efficiency of plants and driving down costs. and it's a solution. it's a solution to solving any kind of challenging energy problem. and i think as the

world understands that they're going to embrace it. the recent news out of china is that there are a lot of mining and leaving china now. it's coming to the us, there's, they're shutting down their coal production, etc. is this, how do you see this developing in terms of how mining is going to be distributed around the world? it's, let me ask you this. it seems that if we went to the global, big point, standard, total global energy use to be caught by an enormous amount. because your d funding central banks are d funding for money. you're potentially the funding, huge military operations just by going on a bit going standard, isn't that the green a thing anyone could possibly do? yeah, yeah. i think the point is, is the most efficient use of energy that the human race has yet come up with. i looked at the annual report of google and google puts about

a $170.00 or $180000000000.00 of energy into their business to create $1.00 trillion dollars of asset bitcoin ports. $4000000000.00 of energy and capital investment, the crate and $800000000000.00 asset. so because when you put in a dollar, you get $200.00, google, you put in a dollar, you get $10.00. i studied the entire s and p index and all the annual reports you put in a dollar, you get out for dollars. if you look at bank j. p. morgan, they spend a dollar to generate 3.8 dollars of value. and if you study an airline, they put in a dollar to get out $0.40. so bit cornish, you know, it's, it's, you know, some, 20 times more efficient than google, and it's 50 times more efficient than normal company. and it's $500.00 times more efficient than real energy producers. i think the coin miners are under appreciated

. i mean, they're, they're the path of, of, you know, they're the know that the 1st line of defense against the entire network. they're securing the network. and, and the way the big point mining works is they're finding the jurisdiction that as the most political support. so big point miners are finding political capital. they're finding energy capital, they're finding the cheapest energy they're, they're finding engineering capital, they're engineering these beautiful coin mining centers. that are heat engineered very complicated, they're finding technical capital in terms of semiconductors. in a 6, they're putting all that together with, with the wrong energy in order to provide the security to the network. and they're migrating continually to the cheapest power, the most supportive political jurisdiction and their instigating upgrades and the technology and they're doing that dynamic way without being told to do it. so the

benefit of everyone in the entire ecosystem. i think that's really a beautiful beautiful thing. yes. when christine, my god, he's running the repeating such a bank right now refers to big point as an escape hatch. what does she mean is that she's saying it is a negative, but i would posit that maybe you would see that in a different light. i think. but i mean, when you say bitcoin is savings technology and a world where everyone's dissipating their energy, the most rational thing is to conserve yours. and so bitcoin is conservation of energy. you can store your life force and fee on and you know you're going to lose one to 2 percent a month. you might lose 4 percent a month in a collapsing currency or faster. you can store all of your economic energy in credit, and that's not much better. you can store it and equity,

but then you take the risk of a company and you never know when i look what just happened. the amc yesterday, right? if you're going to store your money in amc or via com or big coin bitcoin has no c, e o to print 10000000 more bitcoin overnight. whereas that might happen where the equity . so we talk about an escape should be looking for a safe haven. i see the corners, the most is the most secure, most reliable, most certain thing in the entire economic universe. and if you're looking for some place where you can store your life force or economic energy, you know, there's no real question because you can store it and take it with you wherever you want. or you can put it in land in a state subject, or a governor, a mayor, a country, or you can put it on the stock exchange. and you can worry about what the ceo or the board of directors will do the next day. well, i hope you enjoy that. that's going to do it for this episode. oh kaiser report

with me mac kaiser and stacy herbert. and so next time the me ah, miss o 2 to quit college 3 for good. can each other than the mean, russell, but i hope so. but over the over the, the book release, recall that just learning letters can still use the same course which mrs to mrs. for the i good position. been good. we think he might be

a soldier because of the boot she's wearing your twitched up. took a puzzled look. when you're more than young on this. you're still summarizing, please point. i don't think it comes right on police report in december 2020 a group of and she finishes fill out a film crew access for 3 months. 3rd row like people organization. it's an idea that must be opposed that channel out the gate route. they may come with their faces, but they can say what they believe in, we believe and help our community. we believe that fascism is one of the major threats to the united states has gotten driven. this is a chance to see who and teeth are really are in order for me. my 1st amendment right and say that my life matter. i have to be onto the thesis that we can't trust

the police. we can't trust the government. we can't trust anyone except ourselves to protect ourselves. in this thursday times headlines for moscow, the pandemic increases the number of millionaires by 5000000 as the gap between the rich and the poor widens even further. meantime and next headline, just warning you of disturbing images coming up. now. residents in northern paris are up in arms off for a 2 year old boy. his mother resulted by a drug addict officials that had currently sanctioned drug use in a nearby area. they created and kind of get home, a drug addict get which you isolate it will feel abandoned. we have a park.