you know, there's what i've been told before, by other news outlets, is that it's a known secret about joe, by the same thing with coma. so we have this sort of ramping thing happening in america, where race culture is being held up, as you know, in predators are being encouraged and you are allowed and given more power. so if you look at the stats and you know whether it be trump, cuomo by the gate, none of them are facing any kind of consequences for their behavior. so it is ramp and how the powerful men are using their resources to silence and suppress and use them corporate media to do that further in america. not sure what we're talking about, stay the says you can find it more on our side r t dot com and have a social media for now. kevin, know in reporting it mid day 30 came up to mid day city one. moscow time would be doing a good rest of the day. the

join me every thursday 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 in the imax guys are this is the kaiser report and, you know, there's so much going on. i just need to speak with stacy. right. you know, where in the lead up to the anniversary of the end of bretton woods? remember the nixon shock august 15th 1971 when they were close the gold window and basically essentially ended the post world war 2 era of britain was. and now we've had endless money printing. but here's the headline from the guardian. as

a result of this, i think out of control and rising, why bitcoin has nigeria government in a panic as leaders around the world grapple with crypto currencies? what happened when the african country tried to band them? so max, you and i have been covering this, we covered it when they 1st tried to band this earlier this year. and well, it doesn't look like it's gone so well for them. because an array of factors, some political repression to currency controls and ramp and inflation have fuel the stunning rise of crypto currencies and nigeria and february the government took pride and banned crypto currency transactions through licensed banks. in late july it announced the pilot scheme for a new government control digital currency hoping to reduce incentives for those wanting to use unregulated crypto. right, well this is a major story that we've been covering here on time report now for 2 years about

specifically nigeria. so we know that big coin is a tier one global store value, global money, similar to gold in that respect, that it competes with the money. and in fact, puts the money out of business and all the central banks that are penalty out money out of business. so the question is always been which country will emerge as the leader? which country will be the dominant economic force in the 21st century? the obvious candidates, like china, the us, great britain, the problem that they have is that they have already entrenched oleg properties and the fee money world. and they also have the ability to exert authoritarian power on their populations with ease. ok, let's go to nigeria. here's a country that is suffering from inflation. they have a huge population of 200000000 or more very young people that are already on line already on their phones. and the government is not really able to crack down the bad, all those things together. and you have a breakout, you have a breakthrough,

you have the big coined as ation of an economy. and you have the big point standard emerging. and that's, it's so exciting because it means that the world will be born again. it looks like it's going to happen in nigeria, right? we have hyper big quantization in el salvador. already they got downgraded by moody's as a result of that. but i think it's just the end days of that post post bretton woods, a period and the end of the off the out world. in terms of yes, they entrenched oligarchies in especially around money and money printing because remember, us banks and other western banks create most money, right? most of it is as created through loans. so there is sort of old, stuck in their ways mentality about that because we've ruled that way for so long. but nigeria has one of the youngest populations in the world and as right for

digital finance, with many people looking for ways to escape widespread poverty. however, pyramid schemes are proliferating. so there are a lot of crypto i not bitcoin schemes. so that's why, you know, you just stick with bit coin just like in precious metals as money you stick with gold, not any of the fake gold or anything like that. so a better gold, there's only one bit coin, and that's the only crypto, all the rest are essentially modification or sort of, you know, the scheme of, of, of pyramid like structure to it. right? well, we were the 1st tv show in the world dimension, bit going back in 2011 when it was a dollar. and we said this looks like the real thing everyone should be owning it. we've been covering it extensively, ever since. and we have the widest rate of any show in the world in terms of covering bitcoin, particularly at party espanol and our friends down there at our span. y'all who put

our show dumped into spanish. it gets millions of views every week. and it's incredible views on youtube. thank you so much. again, r t. s manion, you guys rock. but nevertheless, the point being that with big coin, you have this ability now to transcend all these and transfer all the gop lists and establish new kind of presence that asserts the individual sovereignty of the individual creativity, the individual rights and the individual dominion of the bad the best amongst us to, to shine and to, to be part of a new meritocracy that's driven by uncomplicated ball. hardest money ever created in that sense, the beginning of since 400000 years ago when, when humans 1st started playing around the fire. well, yeah, let's talk about that playing with fire because the nigerian people aren't wed to the fortunate in

a way that they're f as point in time of bitcoin. where not only is her average, their median age, they're much younger than here. but it is, they're not wed to superpower money. right? so they're able to accept the idea of bit coined and having the uncensored ble, immutable money. and that's really important because when you look at what's happening in the us over the past week, the headlines i've been paying attention to is pay pal and other financial services companies tying up with. and joe's and, and i think tanks to start to get ready to de platform. you know, if you get the platforms from facebook and twitter than you're likely to get the platform from financial services. so something similar happened to nigeria and they responded by turning to bitcoin. they don't have the valence fate that we do. so they've been able to sort convent that and just

a quick comment on that and to speak to the plural plot proliferation of the old coins. of which there are thousands, only bitcoin is actually decentralized. yeah, the other ones are not. and our friend jamison lob who's over a casa, of course, did a, an exhaustive study on nodes and who can run a node. and because running a node is the hallmark of decentralization, for example, a theory, you cannot run a node, it's not the centralized at all, it's not money and it should be avoided at all costs. every single other of the all coins are also not decentralized. to the extent that big coin is the centralized. and that's the key factor you want to have your own node. and you want to be part of the decentralized network. and it's you want to have on confiscated walls once you go into any of these other coins, it could be a barium or cardeana or these other points. you're exposing yourself to the vagaries of centralization. and then you're basically have an escape with the system at all. you're just right back in the system, but it makes sense as well as we're seeing that entropy hit the traffic dilemma,

hit the us dollar, the disintegration of the dollar as a payment rail and a unit of account globally. it just makes sense. they knew at bretton woods that it would eventually happen and it is happening. i believe that's my theory. and that's why we look at headlines that support that theory. so in nigeria, you know, this whole process of hyper bitcoin is ation for them. just started out of necessity because it was not just in february of this year where, where the government band banks from being able to facilitate transactions and bitcoin. but in 2019, it was when the government there, they had access to foreign exchange, protect style import companies, and march of 2019 that forced business to suddenly like need a way to trans at with their chinese suppliers. so they had to turn to something

that was able to be traded easily on a global market, nigerian, our can't, and the chinese you on can't. so they had to find something that was convertible and easy to use. an exchange with a chinese company and they accept a bit coin, they recognize that there's a store value in a unit of account. so they traded with these companies that are highlighted in the guardian piece, right. want to get back to the next and shock of 1971. they started talking about at the top of the show, so that on least 50 years of moneisha cannery. and the u. s. of course, is the biggest crock of them all over their printing trillions. and trillions and it's accelerating at an exponential rate. other countries try to mimic the us because the us brand is that print money and be a conspicuous consumer. and shop t and drop and take a lot of lots of oxy cotton. and you can be, as, you know, a distant fight as we are here in california. right? so 9 here is actually trying to be like america,

that the britain tries to mimic america. all of europe tries to mimic america. that's the global standard, is to print to di, print into your euthanize, your euthanize yourself. so what's happening in el salvador is that wait a minute, are going to quickly, legal tender. we have our own culture, we have our own history. we have our own people. we don't need to be goofy. and donald duck surrogates and nigeria saying, wait a minute, we're in africa. we don't need to be like alan greenspan. you know, step child, you know, we have our own culture, our own continent because gives us our freedom, gives us our identity. we don't have to worry about all that. so that name, that idea. and you know, big point is backed by the global imagination. you know, we, as humans want it, therefore we as humans, will get it in terms of 1st they cut off the foreign exchange controls on, on importers of clothing. then it's obviously widespread because of the co fed

lockdown. there was a shortage of dollars and stuff like that and now they tried to ban bitcoin, but according to bit queen trading platform paxil, nigeria is now 2nd only to the u. s. for bitcoin trading. the dollar volume of crypto received by users and nigeria and may was $2400000000.00 up from $684000000.00 last december, according to block chain firm chain analysis. and the true scale of crypto flows through africa's largest economy is likely to be much larger with many trades, untraceable by analysts. so there was a huge increase in volume like 3 to 3 fold from just december to may. now if you run a country india around china, russia, and you believe that your country has hundreds of years or thousands of years of cultural equity, cultural identity, vibrant population, and will to be who you are. you would open the gates and allow people to be big

coin centric. that's the fact. and i argue any potentate, president or later on the point in a public forum of your choosing just fine in your private jet. and i'll be happy to educate you and good thing you know that you is actually going to exempt private jets from any new fuel tax. only pet peasant passengers will have to, i saw a rumor coming into the show. i don't know, have been verified yet, but apparently our aramco over there in saudi arabia, are going to start using their fast energy resources to start mining bitcoin. if that's true, if that's rumor correct, then game over big one is gone, 100000 the next 3 months. well, hyper big quantization is here. we seen it in el salvador. remittances is an important ingredient in the economy of el salvador. it is also for niger area, they do mention in this article as well, that remittances internet era, from those working abroad, which were worth more than $17000000000.20, have played a role in the adoption of bitcoin. there. so fast disintermediation that is hyper

big quantization. that is the end of the post bretton woods for ya dollars system, right now santa part one. we're going to take a break when we come back. what's more coming your way? the me ah ah, ah, you know, believe it doesn't look i just was off the field. feel like you actually can you through the news that actually use them shape which is at the bill. me put your budget that i would continue to tell you because it

was in the each given famous from credit issued by both of us. i what we've got to do is identify the threats that we have is crazy. plantation. let it be an arms race is often very dramatic. development only personally and get into this. i don't see how that strategy will be successful, very political time. time to sit down and talk the me why go back to the cause report i max kaiser time now to go to you guys on grier of gold,

switzerland dot com time for our egon sanity check egon. welcome back. thank you max. good to see you now. it's been 50 years of money going back to august 15th of 1971 when president nixon closed the gold window. and this whole free money began. so how significant is the nixon shock in terms of monetary history? what is it? why did it happen and what happens next? the again, because we live today, we think you will be extremely significant as i'll be about it changed? well, totally. but, you know, i always go back to history. i mean, this is, has happened every 50 years, 100 years throughout history, as long as there's been some kind of money fee money about precious battle of mine is silver, money, gold, money. you know that god most always have to cheat and deep face that money one way or another, you know, with the denarius' in the roman, during the roman empire,

a wen from under present children called to 0 to seal the content over a 100 periods. so it really is inevitable that every single $150.00 to on the way i received it under the is it has to happen. so, you know, next week a bland mix, that was his fault and his fault, we are no best now at the same time is top and every, every so often in his 3. so it had to happen. so he was just the messenger. i basically will blame him for it, but he would have happened anyway because no government can live with a without printing money because otherwise the, if the company monthly they call actually by boat, that's the way that they rule the world. right. so let's talk about inflation here for a moment, because this money printing going back 50 years. it's been camping up for decades, and it's gone, hyperbolic in the last decade. we haven't seen top line inflation

so much until recently. so there's 2 schools of thought, one, it's transitory brought on by the core of it virus and some of the extra nowadays that, that caused. the 2nd school of thought is that it's a structural shift now toward higher inflation based on all this money printing. what's your view? well, my view is very clear. we are going to an inflationary tier. now, take my word for it. that's absolutely. absolutely no, on the way the state every, that distance nation are now thinking that, you know, we're going to see where we're going to see a period of low inflation, low interest rates. that ain't going to happen at the. so i'm seeing that it's going to be shocked to the world on c. bond yields going up dramatically. i'm saying not in the inflation, we're seeing inflation in every area of the buckets. now we see we're seeing it in food prices where you're seeing that a shortage is in all kinds of goods,

a subsidy. we're going to get which and remember i was there in the seventy's, i was in the u. k, which was a good place to experience really, inflation and i saw inflation going to an average of 50 average was 15 percent for 78 years was up to 25 percent. and the currency collapsed, of course. so i've seen it happening. we've been to see it exactly the same. now we're going to see a way to lation food prices will continue to such and of cause. the effect, as we all know, will be the major effect is going to be markets going down, but it'll be in the currency also. that's always the effect of implementation and money printing. now i looked out since i lived in the u. k, i looked up the inflation think is there a school that you get the retail price index from 18029711 average it was one percent inflation a year. that is a typical inflation prod,

history. people think that it's normal now that shout price is double every few years. and how's price double every so many years, 10 years, whatever. he's been like 1015 years. so, but that is not typically typic, what i just said from 18022971511 is that it was average one dissenting place. i didn't look at the exactly the same thing for the us, but i'm sure they'll be the same. so from $71.00 to today, it's been 6 percent average. so we've gone for $1.00 to $6.00. and of course, you know, when, when, when one, what would one percent inflation at prices go up or double every 70 plus years. i would say 6 percent in inflation. they double double every 13 years. and that's what we see now and seeing that is not typical in history, but we are going to go into now,

inflation escalating and it's going to become exponential at some point. the interesting thing is the bond market will be, of course, giving us the signs and the fed will not need to buy bonds anymore at some point at the end of next year or 2. because the whole market will buy bonds, they will get out of stocks. they will buy bonds because that's the only way that they can. they think they should protect themselves, fuel them. i realized that they should buy gold instead, but that will also be a big major. all marketing and gold, or the basement of the currency is as happens every time in history, in the, in the situations. right. you talk about historically, inflations run at one percent and one and a half percent. and we're an unusual period. you know, one of the historical impacts inflationary impacts that be technological advancement. and certainly the industrial revolution, you know, talking about england brought on cheap mass produced place dishware soap underwear

now. so prices for these things actually went down a lot and that was a mitigating factor to the inflation. how is it that we're in a technological age? the information age, which is supposed to be as significant as the industrial age. and we're into this technological boom of app. so ober amazon is all these things happening with our cell phone. and so that should be deflationary, and yet away see prices going up despite that is not a testament to how reckless the central banks are gone. well, well of course they are, you know, inflation as we both know, does not arise for from price is going up or, or dish inflation from technology will have a play a certain roles. but inflation arises primarily from the basement of cards. and if you print worthless money, you basically cannot avoid basing because it's an app or automatically you create

inflation every event of high for inflation and history. and it happens regularly, as i just said, is going to happen again. this time it will be on the global scale. it never has been before before. it was only a region or a country, and now they'll be the whole world. and every event has always happened because of the day based on the currents is. so i don't see anything different now and that's what we will see. never mind. next to the said we temporarily will, will suspend the back of the dollar with gold. and here we are 50 s leisure, and we are seeing rampant inflation now. and he's just starting, it's going to be vicious, is going to be very vicious. and then coming years and it's going to be in shock. it's going to be shocked to the market because mark is don't expect inflation mark is don't expect the inflation. they seeing it coming, we're seeing all the signs, but nobody wants to believe which is going to central banks are going to cape rates

down. absolute nonsense. i don't grade, they are not going to succeed in that. i'm in the end. they will, they will actually be forced after the event to raise rates as they always have. alright, well, okay, let's talk about this for a 2nd so that the technology has been huge. the technological advances and the money printings, but also huge. i get the, what your point is that it's money printing phenomenon and the technology track is not necessarily the contributing factor. however, the stock market sitting there all time high or from people buying tech stocks because not because of the money printing. but because of all the economies of scale that come with the technology, and it seems like they have diluted themselves. in other words, they believe they're buying these all stocks at all times, eyes because they believe the growth story at 60 times earnings. but they, they don't see actually the reason they're buying them is that they're front buying the central bank and they never admit that. what are your thoughts? is always the same. max is always the same. now you, you remember that the nic a,

the japanese stock market it be under the ages, going up to $40000.00 and you read all the reports from the brokers. and the analysts that this is just the beginning and we're going to see this going on forever. and the market of course, crash totally down from 40000 eventually down 210000 roughly. and you know, we both remember and not very far away. now 2nd and 999-2000. so you know, in short period of time in the last year it doubled and then he went down 80 percent and that was 10 textbook. so that was the set exactly the same phenomenon as now. so as we said, a priest shows charged peace, love shows the more things change, the more the stay the same, it's going to be exactly the same as before. based tech stocks are going to collapse and the valuations will, will come down dramatically. right now you recently tweeted, quote,

there's no strong dollar, there's no strong euro. the current use are all ephemeral blips in history that are destined to become extinct the day they are born. now you have history on your side egon, right? i don't think there's anything money that's ever lasted ever and 300 years or lost 99 percent of purchasing power. you got? yeah. you know, there is still one congress in the world has been around for a while. that is the, the u. k pound. it's been around since the late 16 hundreds, but at that time, one pound bought, i think it was 12 ounces of silver to day one british pound by 120th of an ounce of silver. so, so although the currency in name has survived, in reality, it's become worthless since like every other currency. so i that is the only car as in history, that is still my name but,

but my value certainly not. so it's so easy. this game is so easy because it happens over and over again in history. and it's sad to see that all of these investors out of los and governments. they have no interest in history. it's always different today because they live today. history tells us otherwise, right? we're going to have you for a 2nd segment and we've got about a minute left in this segment. so a quick question. i mean, you've got your fund over there, gold, switzerland. and we look at all the money management in the world about one percent invested in gold. one of the trends are people starting to wake up to this and see that gold thing move up, or they haven't had the day of reckoning yet. we've got about 45. okay, let me correct. yeah, we don't have a fun. we assist. hi, annette. what individual to preserve their wealth by holding physical gold in their own name. so we are facilitated. we're not. we're not running money as such.

and yes, if you're talking about right today, goal demand is very slow. today, refiners are not very busy, but if you're looking at people moving out of the banking system, wealthy people, we're seeing that all the time we seeing 90 moving for the backend test to the private walls that, that we are, we offer to clients so that movies continues that go buying is not there right now in any major going to do that's going to come and that's going to come in a big way. alrighty, again, got to go out another segment shortly. and thanks for being on cause a report. thank you. back. always good to talk to you. thank you. all right, not going to do it for this additional because a report with me. my cars are stacey herbert like to thank our gas gun by grier of gold, switzerland dot com, a ball thing service. until next time, by the me. look forward to talking to you all. that technology should work for people. a

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