trials to be reviewed. yes, because not course i have i'm not going to risk my health and indeed the deal should because we should be waiting. so the right 3 licensees, faxes. not right at all. all on she had mentioned john about the back. she's bringing brown to death, right? you know, well, the figures, the countries would be the less wright's tried to drive to the desk, or the ones with the less. right? so i look at the pages, look, i've got 30 seconds left. david, can you give me a last your last 10 seconds? yeah, i think i just want to bring this together to say that actually we should be encouraging those people certainly over 40 to make sure they have a vaccine. i would like younger people to have it as well, but i do believe in personal choice in liberty. we don't believe in compulsory funds mainly. but what we do need to do is to get brittany back on track. we need the economy to open, we need business as to why we need to send out

a very message because correct of ours is with this. wherever john last one seconds, john, 5 seconds young people have a duty they should get vaccinated as well. no one's talking about coercion, no one's talking about monday, treat jobs. if young people want to have fallen out to life, it's coming anyway. so they sort of discussions of pointless. and i'm glad to see that a doctor like david bull. okay. and they should have actually to otherwise i think he'd be breaking his code of ethics for the and i just, i hope everybody how you enjoy this conversation. we've got to wrap it up. there are things that we don't go there on the left radio host in the center, political commentator, anthony webber, and dr. informa m e p. david bull, thank you very much. thank you and thank you for watching. we're going to take a break. we're back in half an hour. the, who's the

join me every 1st aid on the alex simon show. and i'll be speaking to guess in the world, the politics sport. business. i'm show business. i'll see you then. me the i am i guys are, this is the cause report summer solutions where we focus on the solutions. not so much. the problems, stacy, right. we are joined by jeff booth author of the price of tomorrow. jeff, welcome to summer solutions. and i want to tell you that we've been discussing over the past few weeks. michael berry, the well known hedge fund manager, star, you know, the subject of the film, the big short. he recently warned of hyperinflation and is shorting us treasury's

standard and our legendary head to a manager, as well as warning of very high inflation and is shorting the us dollar. janet yellen, however, says there will be no hyper inflation and you kind of agree with yellen, probably not for the same reason. but tell us why what your position is, in terms of you see deflation. the primary thing happening in the world today as is and then placing a monetary policy running into technology that's increase increasingly the deflationary. so imagine what would happen in, in that as, as governments push up printing presses and dr. inflation more and more and more. what would have business driving it were their own rational and rational business to when they try to remove labor faster with technology. so what you're, what you're finding is the policy is designed. you have to, you have to force as colliding and each other. and each one is moving faster and

faster and opposing directions. i am not saying that someday we don't get to hyper inflation. but by stepping into that trap with central bankers, and they what will happen is they will be more, right, because technology will drive out labor faster and remove the cost faster. and it'll look like and make it look like they have more room. when they do that, it will give them essentially you're concentrating more power in the state. so, so, so i try to stay away from that debate in the way that people are talking about the debate. because i just, i'm looking at the structural issues that are happening to society. there is no way to stop those structural issues from a system that requires inflation. so let's look at the chips market for a 2nd microchips. so certainly they've been deflating in price through technological advancements for 2030 years. and that's

a main component of this technological wave. it's always about storage, processing and transmission, right? those, the 3 main components of the technological age we live in. and now what's happening is the ships are running out of supply. so the supply is bob happening due to a lot of reasons. primarily because the world's economy are breaking down due to mal investments due to money printing. and that's causing inflation. so chip prices, they're not around, you can't buy me. so it's a supply, it's the chips or they're out of chips. you can't get chips. so general motors, another car, they're not making cars, they're saying we can make the cars and the price of those cars. the ones that are available for even used cars are above new cars. just the car markinson, backward nation, if you will. so that's inflation brought on by money pricing, man,

vestments, and ship shortage. so the question is that i see the scenario of bad a, some pa to occur of prices going to 0 for all thing technology, which is deflationary. but there are said, it seems to have had a brick wall here because all of that now investment that comes with all the money printing has now caused logistical breakdowns and rail inflation. so how do you part of the circle is that is all correct and it's actually way more correct than i think you're looking at one example. but the same thing is to send for housing. same thing except for oil. same thing to be said for every other asset on, on the planet today. and so what happens is a byproduct of what you just said. so those prices go up, there becomes a shortage in the market. prices go up higher. what would half, what would, what would the free market do? now you can make money on those chips, so the more chips will come on, come on line as a result,

bringing prices back down. so you get these transitory effects of short term supply disruptions caused by the same thing caused by the money printing that makes it look like, oh wow, we're still living in that same world which causes it go to a faster through the down the, on the other side side of it and began making that reinforcing the other point. concentrating more power in government by doing so, causing, causing prices to go up. and then going to the governments to say, save us from the price is going up. price attack keeps crashing to 0. we've got decades of deflation. and the fact however, is that the cost of making money is even less than 0. it's a matter of fact as negative. you've got a negative interest rates now. so even though the price of tech is approaching 0, it's not 0. whereas the price of printing money is in fact 0, it's less than 0. and that can, that's not going to stop. they've got themselves into

a trap right now where no rational interest rate policy, we're going to come back ever again there in a situation where they will simply print their way into a we have essentially a massive global failure, as we saw in 2000 or nay but much, much worse. so i guess the question is, yeah, i mean text g, but price of money 0. how do you beat that? yeah, i completely agree with you. if you, if, if you of abundance and money, you have scarcity everywhere else. or if you have scarcity and money, you'll have abundance everywhere else. that is the world, that's the transition of a world we're moving into. but we've never been there before. this transition to digital is way more powerful than most people know. it's not just in the microprocessors and everything else. they are about x on top, about crate crate, labor savings and those labor savings, great, deflationary pressure pressures and governments to fight that all they want. you're

right. what they're doing, but the byproduct of fighting at is holding price is high. so that more people can't pay for those prices, food prices up, oil prices, or people can pay for the gas more people can. and so then they go to the exact same government who created the problem in the 1st place and say, save us, we need money to live and we don't understand that you cause the problem in the 1st place. so you is, so you have a system trying to stop the system. the only thing i don't agree with or potentially don't agree with what you're saying, max says this could go on for a long time. but, but the only way it could go on there is to pass centralize all government with a i in robotics and have every decision in the state. and it could go on for a long time. and i had in the past where i'm more and more government spending more and more and in the population will reach for those same people that say save us

from the problem. you said, you know, and the popular ation would likely do that. the 2nd 2nd thing is war and reset, which we've seen through history. and the 3rd is bitcoin to pass the trend. past to human humanity is abundance, through a new currency regime that is not able manipulator. let's talk about big point for a 2nd because now we have a real life example of a country. adopting big point is legal tender. that would be salvador. what i noticed is immediately became a circular economy. people are earning and spending in big kline, people are now opting out of a lot of the problems that come from a central bank printing lots of money. and i immediately noticed a few things. one, the big coin, 80 machines are now moving to be produced. salvador, so that's hard manufacturing, those are manufacturing jobs. those are going to be better bank jobs in el salvador than they pattern quite some time to property prices are going up,

which is would speak to a certain g, d p growth happening in the country. and so is that what we can look forward to on a more global basis? if we're a drop this money standard and they apply a big coin standard and then your thesis about deflation becomes more of a net positive, i would say in terms of the quality of life, right? because we, we don't mind deflation in terms of quality of life. you know, the factors that over the years, things that used to cost a lot of money are cheaper now. we know we don't have to buy a horse and feed a horse and stable a horse and man breed horses. we can buy a car last for 20 years. that runs on cheap gas. i mean, that's a productivity game that everyone benefited from to the deflation. and transportation costs, so that's a positive deflationary loop. now and now solid. do we see these?

these forces coming together and showing a future where what you've been writing about and talking about in big coin or blended into something that we could call a model of the future. the free market is finally come for money. and that's what their greatness. and as a byproduct of that, you're not going to have misinformation in money and then misinformation everywhere else in your economies. because that's really what's happening when you manipulate money. you craved misinformation in money, isn't money, just say an abstract concept and, and when you have misinformation there by, as a byproduct of misinformation, everywhere else, bitcoin solve that and, and what you're seeing in salvador is you're saying the free market race to adopt it. and it makes sense, i'd ask you this, and this is really, this is really important for perhaps for a lot of your less nurse how candidates that every individual actor you, me,

everyone else make decisions where our money is worth more. we look for savings. we look for a value. how is it in an economy where we're looking for value? personally, how can we all believe that we need to live in our economy where our money is worth last each year? it seems only central bankers couldn't believe that. when with every rational actor trying to make, they're trying to decide to make value more right to bit to, to drive more, more value. why use google? why use amazon? why do you use everything else? we could, we could still dig holes with shout away with spoons. we don't, because we save our time and money, and we're making it more efficient all the time. that shouldn't be deflationary. and when you allow a currency to be to place an area, to allow that deflation, you get brought abundance to society. if you do not, you concentrate all power. that's. it's as simple as that while we've been talking

about that can tell in effect and we definitely see it in the past year with all the money printing both from the fad and from the treasury. we saw the mainstream media kind of focuses on, oh, the household well, so the bottom, 50 percent increased by 10000 but just better us as well. went up 88000000000, you know, even month went up even more like the top one percent just ran away. that's destabilizing for any network, any system, any, any systems going to collapse under that sort of disable librium. so, i mean, you had tweeted, in my opinion, it is structurally impossible to transition the monetary system today without concentrating all power in the hands of very few and or destroying our planet. that's the point that we're at right now with the current system safety. that's a really good point. people measure a system from their system is really hard to step out of a system and measure the system you live in from another system. and so,

so even when you're talking about this inflation depletion, they all of these different things. you're talking about people measuring their house prices from a system that is, that is printed $185000000.00 in the last 20 years. and without asking, would my house be worth more without that printing? is it, it's, it's natural to measure the system from the system you live in, and that's what's happening. all right, we're going to take a break and we'll be back right up this with jeff birth on or the price of tomorrow . don't go away. the me ah,

me when i would show the wrong one, i'll just don't rule out this thing because the african and engagement equals the trail. when so many find themselves, well, the part we choose to look for common ground. the me welcome back to the kaiser report. i'm at kaiser time mater, returned to our conversation with jeff booth, the author of the price of tomorrow, very popular. but i must say, i see people tweeting better all the time it and i've read it, it's

a great read jeff. i want to pick up on something you said in the 1st bit there. why would anybody think that letting their money be worth last every year? be a good idea, right? a sounds logical, but we know that if you read the new york times and paul truck man, who's there, nobel prize winning economics commenter. he'll tell you it is a good idea. you need to lead inflation creep into the system. you need to have the money in the system because that's how you generate g d p growth. you need, you need people to be able to have access to all the credit because that's how you grow and economy. it's literally how they describe how the economy is built by this manner. right? so i guess that falls under the category of keynesian as a what, what, how do we this abuse the new york times readers, other fallacy, jeff, remember christian also said that the internet would make no, no more of

a difference to economies than the fax machine. right? so, so when your trust and economists to, to, to, to tell you what technology will do and then then it's like trusting a horoscope for your future. and so that's why i want to be really care rate, really careful that trusts and saying it's about paul chrome and he's doing the same thing that every other economists is trapped in a system. by the way he is right on. one thing is right on on the system, if they allow deflation, will have a cap cataclysmic collapse because because the deb explodes in real terms and you can pay every single bank would fail and every and every, every institution would sail on top of that. that's where they're stuck, they can't stop it, and they can't stop it because they've convinced the world. the only way we can

live in a world that productive society requires your money to be worth last each year. and that's allowed debt to explode. and now you and now there's so much doubt in the world. it's if, if it's can't, it's incongruent with where technology is taking us. so they're caught in one system trying to protect a whole bunch of former things that they've said. and it has to get worse as a byproduct. there's no, but that's why it's a structural problem. but let's imagine they try to stop actually, that's actually why the, the argument shouldn't be about them or inflation or anything else. because they can't stop that system. they're going to keep going for sure, and the byproduct of keep going, for sure. destroy society are climate, everything. and it just drives it concentrates all power in. and that's the problem . so what we need is, in, in just like businesses changed, never comes from the inside of a business. kodak doesn't,

even though they invent the digital camera, they don't exploit it. they netflix, netflix destroys blockbuster. that's what's happening to the entire world, economic order and current regime, and that's what change comes from the outside and force as a change to a system. that's what they're coin as, but they can't stop. so 1st of all, it's not really about tech, it's about money. so yeah, it's software is money. it is tech money. but when he mentioned the word money, it's very, very intimate to everybody on planet earth. this is their most personal thoughts are about money. and so it's very difficult to change people's mindset about something that they hold so dear in their, in their minds. now we're seeing what's happening in places like el salvador. you mentioned also where they are deflation. and it's now being if you're using to context here, you're saying, oh deflation is a disaster,

as it's currently playing out in the u. s. and they're trying to prevent it by a wall of money which is failing. and that's one of the points of your book is that no matter how much they print, they're not going to stop this trend of deflation. but we also at the same time referred to pick coin as deflationary money. so we're using that word and to context many times, not new, specifically, but i, many people use those 2 word interchangeably in those 2 contexts. how would you on jumble that, that kind of misperception. yeah, and i think it was a really important point because people get confused about the cause and everything else. technology phrase our time and technology is moving into every industry, a blinding pace, artificial intelligence, robotics will come follow, follow, and just move to society in that world. when, when you talk about deflation, a deflationary currency, all i think about is a currency that allows regulation. in other words,

allows in free market to work. because by, by allowing the free market to work, you would see the abundance gained from technology, the time savings from technology transfer to brought us part a possible audience around the planet. that's what would happen. and anything that stops ox concentrates, wealth and power in hands. a few faster. so that's what must happen to allow technology to, to, to, because we're in a transition, which is again, we don't see this because we haven't been in our parents point in this transition. our time there. we look at these books in history and we talk about inflationary policies and everything else. we're in a digital transition that is more powerful than anything the world is ever seen and it's going to get most of the deflation, deflation i'm talking about is in front of us. and it requires an and manipulated currency to be able to transition the abundance gained from that technology to the broad as possible audio. he talks about that concentration of power. and certainly

we see that in the united states, which is the, you know, but the center of this world is all the us dollar fee out world. and i guess it kind, it kind of ties to that misinformation. you talk about what the price signals or price signals have been destroyed, right? the central bank thinks that it needs to control it in order to make sure that people don't get to despondent and don't spend a, don't you know, at the animal spirits and all that sort of stuff. they don't like that the price signal, whether it was the bond vigilantes or the gold bugs they destroyed. those people got rid of all that the fundamental life seems to have been in the u. s. economy. we don't have wealth creation. we, we figured we could have an economy where it, china does it or vietnam, or mexico or somewhere else that innovation but wealth creation. all that happens somewhere else. and we could just print money. the printing of money was almost

like a ritualistic thing, right? that like, like a cargo calls is like, okay, all we need is money and we will be wealthy rather than having any wealth creation . but in terms of the deflation of the, you know, that technology delivers in the, isn't the black swan the, the spanner in the works always throughout history, the collapse of an empire. and the rise of a new one. we've seen the 18th, they said it, these traps that have happened throughout history. 16 of them have been violent, but there usually is a period of vacuum sort of period. and d, globalization and, and therefore increase in costs and stuff like that. do you see that sort of thing happening or does between displace like destroy all those models of history? and that's what i think happened, stacy? i think them the models are all going to have destroyed because because of what we have, we never had that coin before. and so you had to go to war 2. so again, rational actors acting in their best interest. what would you do if so for

a long time. ok, but if you've, if you've given a vendor finance loan to the us to purchase your stuff. and they say they're going to the value of their currency and you know, they have to value their currency. would you be buying the bonds? no, you wouldn't. you would buy where if you would buy assets around the world, you and you and do the things that are all sign posts in what's happening today in the world. and those, those sign post crate kind of at a race to the key assets of the future and, and war around protecting them. and you then, you, then you get your populations to say it's not money supply. if those bad chinese or it's those bad. so that's, that's pretty typical throughout history. bitcoin provides a bridge away from that. and, and it's the most important foundation i think it's actually humanities, most powerful invention because it stops all this and provides

a branch. what's happening at the same time as all of this is happening is el salvador is coming on and people are moving there. i'm going to go there next year . if, if, if canada changes changes things here, i might move there. but and move in my businesses there. and so you're seeing the free markets race and the free market and innovation as smartest people and most innovation raced areas that actually create more prospect received cher by the way . exactly like what led us to gain world influence in the beginning before it's out there before it became corrupted because that's what happened, that's don't declaration of independence and everything else was around individual rights and freedoms and free and money that couldn't be corrupted. and so that's what created an innovative economy. you're talking about jobs disappearing with technology, wages, certainly under pressure. and we've talking about that in the money world,

which is a top down central bank. centralized system. moved to a big point standard, which is decentralized. i'm wondering what the impact would be on jobs and wages. and for example, i have this thing here. it's a plastic bit going grenade. it's manufactured by pick coin, or they used a 3 d printer guys backlog with hundreds of orders. and he's got pricing power. he's got, you sound the stuff at a profit, and he's not working for $9.00 an hour or $8.00 our case and occupier does the do. central ation. a big point translate into a decentralization of what's called the affiliate or workshop, or small entrepreneurs in a way where we see pricing power returned to individuals on that scale. for a time it dies and without fear, printing, it's better. but it, but it likely doesn't all the way through so, so we, we believe on the centralization that we will all take the centralized. so if you think about what google them, what amazon net, so we go through these waves in history. and so,

so if decentralization was perfect, perfect for everybody, we would reuse a whole bunch of different websites other than google. we rely on google, we rely on is because our minds want somebody else to do the work. our minds are brands and everything else. we want somebody else to do the work and will trust, trust, trust them. that's actually why decentralized money such a critical aspect. because because the trust in the base layer that we're moving miss man formation from that base layer, now we can trust all other economic calculations. and as a result, and the free market works. all right, jeff bird, the price of tomorrow is the book. it's literally on fire in some quarters. thank you so much. bring on cars report. thanks guys. lot of fun. all right, that's going to do it for this edition of kaiser report with me. max kaiser and stacy herbert special summer solutions with our guest, jeff booth, author of the price of tomorrow until next time via me.

ah, ah. when i see black, i see my since i was growing up like america spoke to me when what a straight year did not say black lives matter is a movement we are importing from america. no. nothing. if i lived in a world where white lives mattered, i was not white like ms. newman and i wasn't new from black america. i learned how to speak back to one of the regional people around them. now the police were at war with statistics. i'm scared that my children

are going to grow up in a country that think says no racism, but they're more likely to end up in the criminal justice system than their other fellow friends in daycare. mm. the headlines is our claims of fate. test results. no checks and no moths, the euro 2020 final, the world health organization says london sport will show down with devastating for efforts to control the pandemic. meanwhile, the bustle continued is highly contagious. delta varying takes root worldwide and counts for more than 90 percent of russia's new cases. we returned to a corona virus clinic to see how health care workers are coping and also to come. president biden occasions republicans blocking illema. phil, he says, would broaden black votes. his participation in elections and as us lead is overly back.