we'll be back with more in just about 30 minutes, so stay tuned. ah, me. what we've got to do is identify the threats that we have. it's crazy foundation, let it be an arms race is often very dramatic. development only personally, i'm going to resist. i don't see how that strategy will be successful, a very critical time. time to sit down and talk me new gold rushes underway, and gunner thousands of ill equipped workers are flocking to the goldfields, hoping to strike it. rich children are torn

between gold and education. my family was very poor, i thought i was doing my best to get back to school, which still will have the strongest appeal. the max ties, remember, man like 3 years ago, every year since then i've been saying that. yeah, of course wages in america going down, but prices from stuff important from china going down more. so the quality of life in america doesn't seem like it's getting worse because the flat screen tv and closer. so cheap. and then i said, you know what, some day that's going to reverse. ok, let's check in with stacy max. we have gone through the looking glass.

remember when the red queen said to alice that you have to run faster and faster just to stay in the same place. she said, in fact, my dear here, we must run as fast as we can just to stay in place. and if you wish to go anywhere, you must run twice as fast as that. so 50 years of the out. we're looking at the headlines today. and it looks like we're straight back to where we started at the 1970 stagflation, right? because people made her, oh, it efforts to spend inflation 8 their lunch, says wall street dot com. the big shift from durable goods to services is underway . this is all in the latest data coming out of government agencies. real, inflation adjusted personal income without transfer payments, personal income, including income, from interest, dividends, rental property, etc. but without stimulus payments, unemployment payments and other transfer payments from the government. and all of

it adjusted for inflation was still below where it had been in february 2020, according to the bureau of economic analysis. this is a function of how many people are earning money and of higher wages and higher income from rental properties, etc. but inflation is the insidious counter force adjusted for inflation. real personal income without transfer payments hasn't improved much and recent months, despite many more people getting back to work. and despite higher wages, because inflation eat up the increase in aggregate income. and here, note the pre pandemic trend line max. this is green. this is real personal income. and as you see, a dove during the beginning, early stages of the pandemic, unlocked downs, and it's still below trends. right? so we're right again, as we were saying, shipping, all of our jobs and factors to china was a bad idea. but the american people were ok with it because although their wages were going down,

the stuff they were getting from china via wal mart was cheaper than ever. ok, now the chickens have come home, the roof. now the china labor sank is finished. inflation is kicking in for rail and wages are going up, but not as fast as inflation. i was right again. i mean it's so easy. right? so personal income including transfers, including all those stimulus check, including the enhance unemployment benefits that has gone up. but still, even with inflation, it's starting to go down, right? so personal income from all sources including transfer payments, not adjusted for inflation ticked up a smidgen for the month and was up to point 3 percent year over year, but adjusted for inflation. personal income from all sources fell by 0.4 percent in june from may, and was down 1.6 percent from june of last year. you know what the red queen is,

is basically jerome, pow, and before him janet yellen. and before her been pronounced, alan greenspan ok. they want you to run faster and faster just to stay in the same place. and they call that positive economic growth. that this is what they're seeking to achieve with never ending money printing. and now like with the, the notion that we're going to have some central bank, digital currency, c, b, c's as are known. whereby the take your money from you, if you don't spend it fast enough so that they can stay in the same place so that their profit levels and profit margins in their control phase in the same place. right, well we've talked about the ratio money printing versus g d p growth and going back 20 years. you know, you, you, you centrally to get one unit of g d p growth. you would print for dollars. yeah. and over time,

what's happening today is that an incident amount of money printing as created 0, g d p growth by g d, p growth is stalled, essentially flat. the, china's is going up, but america is flat because they overprint it, right. the youth and the economy by over printing you, they printed too much and no matter how much they print, they're not going to get any g d p growth. and that trend has been clear for a decade. 15 years is a very, very, very clear trend. the fact that no politician or policymaker clear to look at that trend, it's a failure of our political leader. sadly, we don't have any good ones here in america. well, the problem with that is it doesn't really matter what, who the leader is or what country it is, because the incentive structure of the economic governance model that is an ever depreciating fiarty currency. it doesn't matter who's in charge of that. nobody, not even the red queen herself, could stop this like,

no matter who participates in that economy, based around a currency is going to have to keep on running faster and faster just to say in the same place. and that's why you see that in the huge explosion of a debt household, corporate and government debt all across the fi out world over the past few decades . that is them having to run faster and faster just the same, the same place. and part of that is pulling from the future because there's only a certain limit to how fast you can grow now. so they, they pulled ahead the consumption from 4050 years out into the future. and that is the, the conundrum that a lot of economies, not just the united states, but many economies to the western world. you're seeing a problem with the generation z of the younger people coming on board. and unfortunately there's the internet and they can kind of research stuff and find stuff and, and figure out that, hey, the boomers spent our future like our now our future is now and because of course,

they ran faster and faster to stay in place. but they took, they consumed my life very well. what was the rhetorical nonsense that they put forward to legitimize and justify this insanity they, they all, as we're going along the theory that while we're just going to increase the money printing a debt. now because we're going to get a boost in g d p growth and then that of course will give us the taxes we need to pay down the debt. ok, that's the economic theory guiding american monetary policy and fiscal policy now for 30 years. and every single year, the situation only gets worse. and now we're at a point where if you taxed americans 100 percent of their income, you would not pay down the debt for something like 15 to 20 years. maybe all the, all the data and not just the national debt, but close of all the unfunded liabilities of pensions and medicaid and medicare, etc. so therefore, it's game over tilt, right, you're playing pinball,

and till comes up, it's all the game is over. well, you know, they'll try to come up with other stuff and we can only imagine how long they'll keep the ponzi scheme going. because the ponzi is that you have to run faster and faster. stay in place. first we took the nation off the gold standard that expanded it for another 50 years. then we exported all of our manufacturing capacity that extended it for 20 years. so you know, there is always some new way they might come, they might fabricate to come up with stuff to find money printing. so like for example, like we've been locked down for a year and a half, much of their global economy. and they've, that has been a, a good excuse to print a lot of money more in emergency situation. and it looks like it might continue. and this brings me to the notion that of the subscription model. because you brought that up, that america's like a subscription model, you're gonna have to keep on paying some sort of fee to belong to the system. and

especially that it's all based on intellectual property rights, right. so we see that with this headline that was out last week in europe, and it really struck me as that subscription model number. go up biotechnology. i said in reference to this financial times, headline or tweet pfizer, m o dana ramp up, e. you coven vaccine prices? once the cdc comes out with their new guidelines saying essentially math or back lockdown might be back. delta variance spreading, it's more contagious, blah, blah, blah. all these sort of things. well then we see the racking up of prices. if you want to participate in the global economy, you're going to have to pay these prices are going to have to pay the subscription to be part of this model. and i want to say that that financial times also follow up with this. the new price for a pfizer shot was $19.00 euros and 50 pants against $1550.00. previously,

according to portions of the contract, the price of a more darren, a job was $25.50. a dose. contract show up from about $22.60 a house out there for the quantitative even right. i mean the bank, they're technically and solvent, but they get the government to tax every already with inflation to keep them running and to pay their huge bonuses. now the pharmaceutical industry has taken a page out of the bank book and said, hey, you know, we're going to create the thing. we're going to create quantitative bio easing. and we're going to force everyone to keep paying for these things. and if they refuse, we're going to crash the stock market because these are huge, publicly traded stocks that they can easily crash themselves. so it's all the same thing, really. it's all jamie diamond, you know, you go in there and you get a new toaster. when you open a new account and you get a job and you get a subscription to netflix, you know it's all bundled together into one dystopian. mickey mouse, this thing i need the subscription for the rest of the answer to

your subscription. i ran out. i got, gimme another 20, it's the casino bulag. you know, you're going to be cutting on it to get a protein pill to survive another 4 hours. i need about a protein pelvis about another 4 hours to get my to get my brother's to get my c days. not crazy. i bet going. well, that's another story, but nevertheless, the world is essentially on a us passport. everybody doesn't matter who you are. you are on a u. s. past where you are on a u. s. inflationary system. you are on the u. s. the out standard. you are on that center because this is the american world, that is a fact. and this is what we're covering here. over these past week and, and the upcoming week as we head towards august 15th, not the 2021. that is the 50 year anniversary of nixon closing the gold window. putting us all on the treadmill of having to run faster and faster. just to say

ahead, you see that in all of our headlines for the past 10 years, essentially it's been covering that the consequences of the act and, and the inevitability of the collapse of it. because at a certain point, just like alice, when she was a wonder lamb and she had gone through the looking glass, she mentioned to the red queen how exhausted she was and that had she and her world been running so fast. i in, in our conversation here in kaiser report, you could say, if you are running that fast in a hard currency world and a gold standard world in a big point, standard world, you would have got somewhere. that's what alice told the red queen. if i, if i were this exhausted, i would have actually got somewhere in my world. and she and the red queen says, and our world, my world and the red queen thea world. and the 50 years of the world, you have to run faster and faster and faster and faster just to stay even. and you have to run twice as fast as that to get ahead. well, go ask alice. when she is 10 feet tall, it remembers at jefferson airplane and grey slick. ha!

that's right. i'm a boomer. hey, we're going to take a break when we come back much more coming your way. the me know what denise love you. by and by the murderer can hardly walk on by now i know i should know moment a little moan on the sofa on like one of them and that will allow you to go for have an initiation and with much i don't know. how can you get all the other people

but no, no, i mean, i mean, i saw it and there was one on my in my name is i mentioned that i saw that you know more than a month up in the last arctic. and when i got back, i had just totally refrained how great we now have it in modern life. so before i go up there, it's like i use hot running water every day. never thought about. oh, great. that is dr. carbonate never saw great. that was, i don't have to go out and walk 5 miles downhill the stream and bring it back up to get my water right. but after alaska, like i had to do all those things. and so when i get back into my water, my modern world and i turn on the faucet and hot running water comes out and hits my hand was like, oh my god,

this is unbelievable. this is the most amazing thing that i've ever that happen to me. my life, the the the me welcome back to the kaiser report back because our time now to return to our conversation with eagle vine, grier of gold, switzerland dot com, a gold waltzing service egon welcome back. thank you, max. good to see you again. so egon, we've talked a few times about central banks and their, their, their tenuous grasp on reality as they print the world into financial oblivion. ah, there does seem to be one stand out, one bank seems to be going the other way and raising rates. that would be the bank

of russia. what do they know? are they making a colossal mistake? you got? well, max, yeah, there are some central banks who understand what's happening and but they are exceptional. and us, you say russia quite a substantial holding in us trash. truth is, for example, liquid liquidated those in the last few years, totally. and they have continues to build up their goal decision and substantially from their point of view. so they know what's happening and that you have a precedent and that doesn't have to buy boats. of course, in the same way, most people do vote but, but it's as, as we know until now at least coach and has had no problems of winning any election

when all that stuff. so they don't have to please the people and therefore they do what every central bank should do. it's been said in the last few years that central bank buying of gold has gone out. well, that's not quite true, it has from some countries. but if you look at the western countries, if you'd look at the as, or any european country or western european countries, no, but he has bought gold to haven't bought gold for years. and they all liquidated their positions in the 90s as we know. and to push the price of gold down from what it was of the peak and $8850.00 to down to eventually to 50. so that was the countries like the u. k. and switzerland more than all their positions. so central bags that they have a love hate relationship with gold. on the one hand, they have to hold it down there, hold about $34000.00 tons of gold and but

on the other hand, they want to suppress the gold price because the gold price tells their people that there are mismanaging, they call me and so far they've done the pretty good job in holding the gold price well below where it should be. i often show a graph max where i compare the gold price to the u. s. money supply and going back to 1970. and if you look at the gold price in $97071.00, if you want to study $5.00 and the gold and then in 2000 was $290.00. the gold prize today at $1800.00 in relation to us money supply is as cheap as it was in

$2035.00 on, sorry, into those in $71.00 that $35.00 and in 2000 $290.00. so gold is incredibly cheap in relation to the money printing that we have seen in the us 20 years. and that isn't the result of central banks through be through the b. i s that issues golds 12, so central banks are managing to hold the gold prize down in the paper market. and as we know, my paper gold has nothing to do with physical gold. and at some point, the real price of gold will be reflected when, when its central bank lose control about tape market, which is probably several $100.00 times bigger than than the physical block. yeah,

i've heard those numbers before they but they bear repeating their stuff and model . so gold relative to the money print thing is as cheap today as it was in $71.00 to $35.00 an ounce. and as cheap as it was in the year, 2290 dollars amount, $1800.00 an ounce. that's out. it's the cheap nose levels relative to the amount of money printing that's gone on. and you mentioned that there hasn't been any real price discovery in gold now for really 151620 years due to the mash nations of these bankers because they like to support the money. it appears as though price discovery won't happen, but we're going to have quote, a reset. and we're going to have a new bretton woods, according to the i m f that we need a new bretton woods. so it seems the gun that they don't want price discovery, but they want to be able to sit around a table and re architect the global economy. they won't be able to avoid gold. gold will have to be part of that conversation. you know, i've been talking about writing about the reset menu and there are many,

many respects that are being discussed. you know, you have on the, on the one on the central bag and then you to bother with the kinetic forum. but in my view, that might very well be a reset from west and central banks. i don't think russia or china will be on that at all. so that, you know, it has a very large cause of success. but nevertheless, they will try it most probably. and then we'll touch it with the maybe a new digital central bank, digital cars, this is cetera. i think as all nebulae to, to duration one would fail to reset gold to $1020000.00 or at the time, nor to, to write down the debt. and i don't, i, i am not a great believer in manipulation. anything that is on that. so there's no loss for

a long time and here there, well this is not your back mass, so they're going to try to just make the debt disappeared, which i not going to succeed with. so i think the real reset will be a disorderly reset. one mark is reprice, spent based on supply and demand based on real money, and that will be the nasty $1.00 that will be when the debts, the debt implodes and currencies implode and stock market to also of course, the real terms implode and bond market to that is going to happen. i'm absolutely convinced the i'm, i'm not the profit of doing a group. i just rate the i study history and i know that babs, just like dust as it has happened in history regularly throughout, throughout the time. it's going to happen this time again and, and that for sure. it could take another few years. i think we're pretty,

are there. well, does that never been in a situation what, what every single nation is bankrupt and every single nation is printing money and, you know, you just take now the money printing that's taken place since, since 2019, you know, central banks that were gone for a laundry. 14 trillion. i think the biggest 3 big central banks, quoting trillion policies to 2014, to go off trend trillion just in the, in the last year now for 22 years since the crisis started in august, september 2019. so it's coming inevitable and i think we are, we are quite mayor now so, so, but i have page because if i have to wait a little bit and you know, i don't want it to happen but, but i'm just studying history and i know it will happen, it's only a matter of time. yeah. it's interesting that you said that, oh yeah, they probably will try and new bretton woods, but russia, china would not be part of it. you know that, that's fascinating to think that,

that, that back type of mating could, could happen. meantime, it seems like more and more, the country is setting the price for labor for goods, even for gold, is china. so china seems to be the price that are now less than last the united states, the united states, used to really set price is around the world. and the lou they're seeing that now to china, who is also exporting a lot of cultural soft power as it's called. are we talking about the historic history and we, we mentioned the facilities trap were one empire gives way to another empire. are we at the moment now in history, where the u. s. empire, which has been roughly a 100 years, is giving way to china? you got yes, so i think that's never tubal china has its problems to china. has debt problems too, and they go to sort that out, but relatively, it's much easier for them because most of the data is internal. so they can deal

with it. they don't need the whole world while they haven't got a tetra or a petra. you on they have a domestic one that can easily be dealt with and you know, they are older, offended conquering the world as we know, you know, be, i looked at the graph and, and i think it was back to 2000 went well and the main trading part of most countries in the world at 75 countries with 75 because that was the us over 75 percent of all countries. that was the us, the main trading partner today, 21 years later it's, it's china that is the main trading part as it were 75 percent of all countries in the world and you go down to 25. the said from 75 percent using is happening already. that china is taking over and you know, you're buying everything they kind of as we know they're buy,

buy into all kinds of natural resources in africa and south america said they've been doing that for years. and years, they're buying ports everywhere in the world, and there are buying control and major infrastructure in the world. so yes, they are going to be a powerful nation. definitely from the point to be trade an industry. they also going to be powerful military. well, we don't know, but certainly that's a big risk for the south east racial region. my view, you know, that you take any, anything from hughes eagle until trailer to singapore, a set trauma. i think there they are physically quite near you know the next, but in that field, but i would say that yes, china is going to all the time. it takes time. empires don't shift open on. it takes a long time. but china is greg gradually, as i just said, that we're looking at the trait it's there on the up. but in a big way. yes. and that will continue faster than anybody can believe. since

you're in switzerland, you might have the inside dope on this. this west central bank, are they experimenting with a digital currency while they are like every central bank, but it's, well, it's 2 cylinders still right now. i mean, sweet summer holiday and mr. bolton behind me. but as sweden of course has no cash at all. basically, you call in many shops and they don't take cash. use cash. only credit card. sandra, bank, it's a sweetness even warned that you know, you must have some cash. otherwise, if there's a crisis, you're not going to, you know, you're going to be able to buy things. now switzerland still uses cash. i'm still, there's a conservative country, so i don't, i think so it's love might have a digital currency too, but it's going to take many years and it's not going to be exclusive to normal money. in my view. i got to come out there. you got my garage thanks so much being

on guys report. thank you back. it's good to see. i got alrighty. and i was going to do it for this edition of kaiser report with may max kaiser and stacy herbert want to think, i guess you guys are grier of gold, switzerland dot com, a gold vaulting service. until next time, by the me ah ah ah me a new gold rushes underway, and gunner thousands of ill equipped workers are flocking to the goldfields, hoping to strike it. rich children are torn between gold and education. my family was very poor. i thought i was doing my best

to get back to school, which still it will have the strongest appeal. the brushes rhythmic gymnastics, team claims. there's been an injustice after the gold goes through israel, despite their athlete dropping her ribbon during the performance jailed hacker who exposed abusive conditions that the prison he's being held in is denied telephone access to his lawyer, his wife franz. this move and acts of vengeance, euro prisons, lawyer, county that died. she can only like speak to them if they have upcoming court the deadline. where is she not applying, dive and requirement to any of the other. frances rocked by protests for a 4th consecutive week as a quarter of a 1000000 people across the.