is a huge cash register that is ran by people who don't care about people's lives being lost. the un announces an official intervention over claims of excessive force and brutality by berlin police officers against anti lockdown protesters. police union says the demonstrators themselves were far from peaceful. i am sure that my colleagues acted in accordance with the law. in addition, more than 60 police officers were injured. they clearly did not stumble but suffered during the protest. permission for coven vaccinated citizens of san marino to enter the block, leave most sock behind, as they perceived rushes. sputnik v, which is not yet approved. and the biden administration faces backlash from

a coalition of human rights groups over harsh us immigration policy. while the media stay silent on the very issues they slammed donald trump for your world news headlines for this hour on behalf of our international thanks a lot for washing and we'll see you again soon. ah, the 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 the us close the gold window and basically essentially ended the post world war 2 era of bretton woods. 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 pry and band 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

a specifically nigeria. so we know that big coin is a tier one global store, a value global money, similar to gold in that respect, that it compete with the money. and in fact, puts the money out of business and all the central banks that penalty our money out of business. so the question is, i was banned, which country will emerge as the leader? which country will be the dominant economic force and the 21st century? the obvious candidates, like china, the us, great britain, the problem that they have is that they have already entrenched oleg, ah, please, 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

van, 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 renovation 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 and 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 there 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 i think any of the fake gold or anything like that. so a better gold. there's only one big 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. then 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 ts manual, who put our show dubbed into spanish. it gets millions of views every week and of incredible views on youtube. thank you so much. again, our ts pin. yeah, 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 with 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 able 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 state that we do. so

they've been able to sort convent that. all right, just a quick comment on that and to speak to the plot or plot proliferation of the old coins, of which there are thousands only bitcoin is actually the centralized. yeah, the other ones are not, and our friend jamison lob who's over a casa, of course, did an exhaustive study on nodes and who can run a note. and because writing a note 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 old coins are also not decentralized. to the extent that big coin is decentralized. 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 theory, am or cardeana or these other coins. 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 trefoil 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, the, this whole process of hyper big quantization 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 for textile import companies and march of 2019 that forced business to suddenly like need a way to trans act with their chinese suppliers. so they had to turn to something

that was able to be traded easily on a global market nigeria now or 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 971. they started talking about at the top of the show, so that on least 50 years of moneisha camry. and the us, 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 dignified as we are here in california. right. so nice area 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 youth, and as your youth and as yourself. so what's happening and outside the door is that wait a minute are going to make the queen legal center. 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, bitcoin 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. that order to dollars and stuff like that. and now they

tried to ban bitcoin, but according to bit queen trading platform packs full. nigeria is now 2nd only to the us 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 that 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 vast energy resources to start mining bitcoin. if that's true, if that's rumor correct, then game over big coins gone, 100000 in the next 3 months. well, hyper big quantization is here. we've seen it and el salvador remittances is an important ingredient in the economy of el salvador. it is also for nigeria, 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 this for mediation 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, so long ago humour was the domain of social critique and a means for us to laugh at ourselves. and the comic was the person who had the guts and skill to say what all of us might have been thinking. this is no longer the case, it would see now, humor is just another political weapon. and you know, it's not very funny. the british and american government sivilton being accused of destroying lives in their own interest. while you see in this,

these techniques is the state devising message to end essentially destroy the personality of an individual lifetime. means this is how one doctors, theories were allegedly used in psychological warfare against the prisoners deemed a danger to the state. that was the foundation for the method of psychological interrogation, psychological torture, disseminated within the us intelligence community, and worldwide among allies for the next 30 years. and how the victim say they still know what the consequences today the me why go back to the cause report? i'm nice guys are time now to go to you guys. 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

19711. president nixon, close 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 stream to significant us 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 metal 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 a denarius' in the roman, during the roman empire, a wen from under present filled the contents of 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, we can blame next. 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 cove, 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? mind is very clear. we are going to an inflationary tier. now, take my word for those. absolutely. absolutely no, on the way the, the, every, the dis inflationary camp. 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 the see 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 it. 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 then the currency collapsed, of course. so i've seen it happening. we've got to see it exactly the same. now we're going to see wage inflation. food prices will continue to such. and of course, the effect, as we all know, will be the major effect, which is, course will be, market's going down, but it will be in the currency also. that's always the effect of implementation and money printing. and now i looked out since i lived in the u. k, i looked up the inflation think is there 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 this double every few years. and

how's prices double? every so many years, 10 years, whatever. he's been like 1015 years. so, but that is not typically, typically 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 what, what was 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 a 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. i know the fed will not need to buy bonds anymore at some

point at the end of next year 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 right? it one percent, one and a half percent, and we're an unusual period. you know, one of the historical impacts inflationary impacts would 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 apps, of ober amazon, all these things happening with our cell phone. and so that should be deflationary . and yet we see prices going up despite that. is that 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 currency. so i don't see anything different now i knew it, that's what we will see. i never mind. you know, next to the said we temporarily was that 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 in the market because mark is don't expect inflation, because don't expect the inflation. they seeing it coming, we seeing all the signs, but nobody wants to believe it is going to central banks are going to cape rights down. absolute nonsense. i don't think you're 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 new 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 that all time high 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, if they had be under the ages going up to $40000.00 and you read all the reports

from the brokers and the analyst 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 not very far away, not stuck in 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 text text. ok. so that was the set exactly the same phenomenon as now. so as we said, a priest shoals, pre challenge crease la ma'am, shows the, the more things change, the more the stay the same. it's going to be exactly the same as before. these tech stocks are going to collapse and evaluations will, will come down dramatically. right now. you recently treated quote, there's no strong dollar, there's no strong euro. the current to you 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 ever lasted ever and 300 years or lost 99 percent of his 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 announce of silver. so, so although the currency in name has survived and reality, it's become worthless since like every other currency. so i that is the only car as in history, that is still that monday 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 find over their goal, 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 and got about 45 seconds. 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 such and yes, the if you're talking about right today, gold demand is very slow. today, refiners are not very busy. but if you're looking at people moving out of the

banking system, well to people, we're seeing that all the time we seeing 90 moving for the banking system to the private walls that we, we offer to clients. so that move is continuous. the goal buying is not that right now in any major going to do that's going to come. that's going to come in the big way. all right, 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 edition of kaiser report with may max kaiser and stacy herbert like to thank our guests gone by and riots of bolts, switzerland, dot com, a vaulting service. until next time, by the me ah ah, ah lose

all the other the no, what would you give them by the in the can can hard while we're on by now i should know i should know moment a new york on mon, on the search bar on my like on and then you will that'll allow you to

have an initiation and from the, from the community i bit off more than 100 people. and i mean, i mean, i saw it and they went out and my my name is the i hello and welcome to cross side were all.