explanation is that big coin is the waffle house of money. and that is, you know, as we have hurricane season has clearly just begun and up. well it's the, the bad part of it has just begun. and waffle house famously always stays open, no matter how bad things get, except for like category 4 and 5 because never shuts down. and you're going to need that because we have some category 5 sort of financial storms on the horizon equity markets, property markets, all sorts of supply chains. we have some storms on the horizon max. okay, excellent. while the waffle house indicator is a long term indicator, if the waffle house closes, that means the storm is a serious storm. usually it just continues. a lot of times you'll see people in the waffle house in the flood waters be rising above the windows, and that goes above the actually eating the waffles underwater. usually that's what happens if they do close. it means that they're in a category 9. well, let's look at some possible category 9 situations. and in into this,

i put also social unrest related to the aftermath, the consequences of the interventions to stop, you know, normal market corrections are business cycles. so global central banks have bought $834000000.00 of financial assets every 60 minutes and every 60 minutes. the market cap of global text thought has risen $780000000.00. this is, according to bank of america, is not coming from any conspiracy theorist is actually bank of america, relating fed money printing purchase of assets, an increase in global tech stocks. and they have a chart here. you could see the central bank liquidity is a darker line where that light line is. market cap of amazon, apple, facebook, google, microsoft, netflix and tesla. right? like i was saying some time, a simplest answer is the correct answer, and

a lot of people ask, why are these text back so high? why is the stock market so high? and the simple answer is that it's a transfer payments. the federal government is transferring the paper money that they print into the pockets of the tact executives. it's as plain as the nose on your face, and you can see it in these numbers. you know, for those who get transfer payments, like food stamps and other government relief programs, they understand how this works. the government prince money and they give them the food stamp and then they go buy food here. the federal reserve bank prints the money they gave it to tim kirk or the guys a google or the guys over at amazon, and they stick it in their pocket and go out and buy. yeah. but it's the exact same mechanism. it's a transfer payment yet. but it makes it into their pocket. and then from like i was just reading a statistic that the data on how much was actually stolen of all that p p, p. and hands on employment benefits pack in the past year was up to

$400000000000.00. right, so that never made it to the alleged recipients. the same with the rent moratorium which the supreme court stepped in last week and said, you have to end the moratorium. people have to pay their rent. well, there had been $47000000000.00 allocated by congress to pay that rents anyway for the past year and a half, only for $1000000000.00 of it made it. so where does all the, where does all that? it's like in into a hurricane. you know, a lot of things get picked up and throwing around and, and you go missing. right, well i remember i was trying to talk about the difference between a successful stockbroker and i really just successful. stockbroker is the size of the order that you're asking for and what you learn on a wall street is that the thing that makes you successful just asking for bigger orders, right? so why ask for a 1000 shares order when you can ask 410000 or 20000 your order? so the only press between jim cook it apple, and somebody living in

a development project somewhere in the poor zone is that kim cook asked for big orders. he goes to the fed and says, i want you to send me $20000000000.00 to buy back my own stock and make my expected stock options go up. and i'm gonna cash them out by the way, like you did last week. and i make many, many billings of dollars, but they're both essentially petitioning the federal government. there's no difference between the person on food stamps is asking essentially for $20.00 for a bag of twinkies a bag of chips that's that's, that's the size of the order that they're asking for. tim cook is asking for $20000000000.00 order that we're seeing play out. but with this whole, bitcoin is the waffle house, the money why we might need it is like, okay, so the stock markets have gone up parabolic and continued hit new all time highs. s and p 5 under the nasdaq, the dow jones, everything heading new hiv property markets also hitting new hives across america.

and so bank of america and this report that 0 had just covering also looks at, you know, basically the wealth and income gap in case someone was still unaware. quote, central banks have spurred greater wealth inequality. that's a quote from bank of america. and they provide this chart, central banks of spurred greater wealth inequality after $22.00 trillion dollars of q. he, wall street is now 6.4 times the size of main street. you see, since these crises began back in 2008, 2009 with the financial crisis. this is the beginning of that. and you see all the, all the red lines or the new q e programs. and as you see that the, the line we're following here is the percentage of wall street basically ownership of the economy. so they have as much wealth as 6.4 times main street. right. and how they get around it, read torak li making is that the federal reserve bank will always say they're

trying to increase the inflation. they're trying to increase the inflation. and we're going to keep printing money until we get more inflation. and meanwhile, all the turn money that they are printing is hoarded by the banks and bank america would be the know what's going on here because there weren't the banks that hordes the money and doesn't lend it out as loans to small businesses or anything like that. as a result of this enormous wealth and income gap because they simply hard the money that's it's what bank of america is saying, the bank, the money printing is creating a wealth and income, get their language at the fed use that j. powell and his predecessors will use to disguise the fact that this is a wholesale rip off is saying we're trying to create inflation. that's the lie. that's the, that is the basic malware just lot. the other lie is, you know, this sort of political war culture war going on is that, you know, when there are people who say make america great. again,

these are people who tend to be older. it's not like 20 year olds born at that point. you know, when it was already a very unequal, there are people with memories of this decades of, of, of more equal sort of society and, and where the top to run away with all the wealth and at the fed wasn't intervening like this non stop to rescued markets partly because we had the gold standard for so long into that early period there. but so when, when people are longing for a past, what they're longing for is that sort of where this wasn't happened, where there weren't lords, nobody likes the lord, nobody likes an aristocrat. we fight a war over that. and we have them back now. but now it's like called a meritocracy, and it's corporations have the right to exclude you corporate, you know, we have the right to live this way and blah, blah, blah, you're a deplorable so you know, it's now couched in the near futile language is more,

it's harder to pin down, right? it's harder to have an enlightenment against it. right, well, make america great. again, those 4 words are arbitrary in the hands of propaganda. that's 4 words uttered could have been feed parakeet stale bread. and that would have also been interpreted as wildly inappropriate by a presidential candidate and a and a president. in the face of this su nami, this wall of propaganda coming from the tim cook to the world who get the transfer payments of hundreds of billions of dollars that they simply pocket or the speculators. and like warren buffet and blackstone group, who also just get a free transfer payment and just put in their pockets, right? so, and they control the media. so it doesn't really matter what those 4 words could be . it doesn't matter what anybody says, if you control propaganda, you control the reality of the markets. you control the reality of the markets brings me to this last one because like with feudalism,

the old feudalism you had these structures. you had the obvious signs of. here's the castle, here's the king. you know, you saw that. what to fight against. now they say it's free market. this is meritocracy. how can you fight this? this is like the way it should be. well, we no longer have free markets based on fundamentals. there is only the fed with its ever expanding balance. she levitating these fake markets with some amie, a fake money. do you think they will paper? and he uses that chart of the s and p 500 meter the feds balance sheet. so they're the ones create in these aristocrats, they're the ones causing this and they obviously with their propaganda what they say over and over that we're doing it to help support the unemployed. the people who don't have jobs anymore because of cobra were doing it because of cobra do because of the financial crash for doing it because of the property market crash, it's a prime meltdown is always something that they're doing this for to help the poor. right, well i see what's happening in australia instead of tapering their quarantining,

their opening camps. right. isolation camps are doing these kind of in prison camps and they're giving people one hour a day out in the yard exercise. they're turning into a penal colony from where it started, but that, that, that's the central bank, and that's being replicated around the world. every central bank of the world, instead of tapering, will open prison camps. that's like, well austria is doing it so i don't, it's not a m, that's not a, it's not a fairy here. i mean, that's exactly what they're doing. i mean, australia, remember a year ago with steve came on the show, their property bubble was an enormous bubble. and he kept, but they kept bailing it out with more money printing again and again. and again, one's going to pop one's going to pop. we're solution is we're not going to raise rates. we're not going to bring saturday the markets. there's no meritocracy. we're going to, we're gonna open camps. that's what they're doing. well, you know, the fed says they're going to start to taper. and this is something that the caf report has reported on for almost a decade. was it?

yeah, over a decade since they started, the quantitative even started causing us. bank of america says, though greater wealth inequality started doing that. we said you can't taper ponzi and this is a ponzi scheme. and we believe those continuous and whether or not they open count will still be reporting there were in all the great camps of the world, right? remember, tapering will set you free. it's a good slogan of where the camp, right? we're going to take a break, and when we come back, much more coming your way the me ah ah, the pacific leg around the world,

expedition by 1000 miles round the clock in the dead calm. this done as soon as every country close by with the crew. gavin's food and water harbor to go to check those for us also let me know. i got everybody locked out or no food to know what about that? only give them up. sure. somebody that can especially in the coded your living like the theme and of own,

but in the 21st century. the me welcome back to the guys report. i'm as the guys are time not returned a conversation with david morgan, the morgan report. david, welcome back. max could be back, all right, less than i want to pick up on a comment you made the 1st segment, talking about j pals. recent testimony saying things are great, no problems. but look, we know that that's a lie, because if things were great, they would not be buying billions of dollars at the treasury's every, every day, every month they do it because things are not great. they don't do that because it's good for the economy. they do it as a measure to stop the inevitable, which is that all banks in america are technically installment. how does he get away with that live david? good afternoon, lessons. i don't know max, it's just like i said early,

i'll just reiterate a little bit from the 1st. second, most people are too busy trying to earn living to understand what an interest rate does, what the purpose of it is, how it set it on a standard debt market didn't understand a corporate bond from the treasury bond. so most people are oblivious to the financial markets, yet it's a huge segment of what makes the world around these days. i mean, really robust, physically economy, where we're really working hard, produce a lot of stuff and everybody's happy. and you've got low inflation and you know everyone's lives set or living is, is good and getting better about 4 percent devoted to financial micah. so we have some, you know, we can all the insurance companies and the health care system and insurance companies like 40 percent is crazy. they once again start talking about tapering the expansion that they've been saying now going all the way back to burn nanking. really going all the way back to greenspan. and again,

the media buys it. they seem to think that that's a viable option. we know that you can't paper a ponzi scheme. we know that there's never going to be tapering on the agenda. i mean, it's like going into some kind of hard core prison and expecting to find a loving relationship. that's not what's gonna happen. and that's what the central bankers are dealing to america every day, forcibly and, but nobody seems to care. nevertheless, gold, which is to go to commodity in times of stress over the past 10 years is down 3 percent or more. what, what happened gold. david, what's the latest on the best foot round of us but certainly not reacting as you would expect. i mean, i will give you that, but you know, i kind of taken a bit of a deep breath and reevaluate you know, what do we really expect?

and net bear shop get a nice review of the gold market. so if you take go market from 2000 to 2020, it has to add a compound annual growth rate of 10 percent that's come out. so we've gone from $250.00 to roughly $1800.00, so it's done its job. it is actually maintain your, well yes, we've had several years where it went down. we had several years, 11 years rower went up. so on balance from the long term perspective, goals actually done that job is, is doing his job right now with all the inflation and commas. we see throughout the markets, the debt markets, the stock market, the currency markets know it's not, but it has a tendency to catch up or leave. it's not leaving right now. obviously, maybe golds there are some more depletion in the imminent future. i don't know, but that's my answer. i think it's, you know, even i've expected probably too much out. you know,

it's not there to make you wealthy. sort of protect your wealth is actually done that in real terms. the real inflation rate by john looms is about 9 percent. so a 9 percent inflation rate, globes then 10, it's maintained your purchase. right, and in any other currency about the us dollar dollars, it's actually done fantastically well. if you look at a country like argentina, brazil, these other countries that are actually bring hyperinflation in a gall, this maintaining purchasing power. i mean, the only thing you want with goal is to maintain purchasing power. that's what, that's what you get with goal and you get it for thousands of. there's a maintain purchasing power with fear money. you're guaranteed to lose purchasing power. that's in the storage, all accurate trip for 300 years. no, the money has gone against the basic fact that you will lose purchasing power sometime between 98 and 100 percent over 300 years. now, not none of them have escaped us. now with big coin, of course are guaranteed to increase purchasing power. it's a mathematical certainty, and that's why people,

especially the jonesy and the millennials, are flocking to big coin and given the uncertainties in the world and the ramp and runaway inflation, one can understand why over the past 10 years, bitcoin has been compounding it. 200 percent a year because it's reflecting already the hyper inflationary collapse of the dollar. in addition to being on campus cannibal, portable more divisible and censorship resistant on top of its ability to guarantee the increase of purchasing power. why are you not buying more bitcoin, david morgan? well, i am. we did by the 3rd a good time. and we have a couple more ways to invest it. so i finally, i guess, drake, the crew laid as others might say, i'm not a purist. i think you should have a diversified portfolio, certainly to deny the watch in technologies, but you're in the sam. definitely. i would like to say something about the silver market. because you know, my propensity to think through the silver market. so,

you know, there's a possibility of having an f d n 21000000 bits. and i didn't check the price today. where are you near 50000 or so? yeah, well just use that as a, as a number. sure. okay, so, but in the silver world, the silver market is commercial bars, the 1000 as bars, and there's only 2000000 and those. so there's 110th less silver. if you don't notice the commercial bars, there's 110th as many as are big points. and it's half the price $25000.00 per unit . so big about how rare a big point is should be the silver markets. even rare, right? well, with the coin you have absolute scarcity. whereas with the silver market, you have relative scarcity, right? there's always going to be more silver and as the price goes up, technology improves, which gives you even more silver. so it's not absolutely scarce. the similarly with ether, there is now been never been an audit. there's. nobody knows how many either there

are, it's highly centralized versus decentralized and transactions are routinely reversed . so it's what we call garbage coin. and a b unit bias is sites where people, so for some reason like to flock to that. but i equate it to a very bad kind of toronto based mining stock penny stock, that people flock through even now it's just a guy looking over a hole in the middle of the desert. they still give them millions of dollars, so that's ether. but i, i, i appreciate the fact that you're slowly getting moving toward the, the actual big coin that would set you free from, from the constraints of being trapped in, in a certain mindset. but let's, let's keep on because you're a guy who know stuff. let's talk about commodities and let's talk about supply chains. they've been breaking down. and the problem seems to be getting worse,

especially with the supply container ships to get supply to the shelves, right? you mentioned in our earlier talk there's people who don't know the difference between inflation driven by money printing and inflation driven by supply chain disruptions. let's talk about the supply chain disruptions from my point of view from what i say, it looks like a chronic problem that's getting worse. what do you see? i see the same thing and we're just specifically look at food for a while. you know, there's been locust, there's been whether there's been paid to not grow. there's been a multi waterfall amount of factors that have curtailed the food supply across the board. and then on top of that, you put the shipping problems in with the containers that are not as available as they could be. and people want to pay astronomical rates to get their goods to the front line. we've got a real problem and i think it's going to compound, you know, i love to go back to john tanner's collapse of complex societies. and the more

complex system is, the more points of failure there are. and we're in multiple points of failure in almost all of the structures in this modern society. and we are in there and it is a global economy. and we have to be cognizant of that just because, you know, we want something that we think we should be able to get the drugstore. most people don't realize about 6070 percent of that. okay. from china in one way. shape or form. yeah. might have a us label on it. what was produced overseas, somewhere right now you and i both sitting in front of the camera with bookshelves in the background. the difference being is that i believe you have probably read all the books in your background, whereas i have not read a single one of these. i think people need to take note of that. that's why your answers are as good as they are. that's why you're on the show. david morgan, you actually read books, which i like now. so supply chain is breaking down and china's got the upper hand. you mentioned taiwan, an earlier episode that we did. let's do

a little wargaming here. so i want get 80 percent of the world chip market. chips are kind of new oil. they're the thing that keeps the modern economy going. america, it looks like it's collapsing, that the travesty. and cab all is a big signal to the world. as you point out, is the saying that, you know, we can walk away from the petro dollar. are you hinting at that taiwan could be in play as we were hinting in? and i, if i knew more, i'd say more mac, say prefer be in right and wrong, but i'm not afraid to set my neck out as you well know. i think it could be the other thing about the semiconductor market. i've gotten some mix signal share lately and i am unable to follow through to be certain. so i don't like take one data point and say, well, you know, i need to have more information. but a fact is that some i conduct a world i didn't know to recently takes $44000000.00 ounces of silver per year. right? ok, so and also the solar industry is incredibly, solver intensive. ok,

let's get back to the silver david. why is silver so so sluggish because it's got industrial use. it is relatively scarce. people, nate or no installation hedge, and it's sitting there like a dead duck. what the heck is wrong with it? lack of knowledge. i mean, so few people think of it as an asset class. they want to be involved it. i mean, if wall street was bitcoin really took off, i was writing the more than a florida course and i've made the not so a depth statement debt. wall street has caught on a bitcoin watch on wall street gets behind something. it's really going to go, went from $11055.00 is a thing a test year 60. i wasn't surprised at all when you get what the wall street ever got behind silver looked ago. but it's basically something you have to ferret out on your, on your own. there's all the sexy criptos out there. some merit some without. but

it's a new place in the course. the social media has such a wide base, especially among millennials in gen g. and it's kind of fashionable people like to work and heard even though they think they're independent, most aren't their followers, not leaders. and if everybody's by an x, y, z crypto, that's the place to be forget about silver. and then you look at it. you said, come on, this thing hasn't done really anything. it has compounded at 9 percent per year. taking the same analysis, i said a minute ago on gold gold done a better job of preserving you with. ready the silver, i think silver will take off still. now because i'm addicted to being right, i've been more, you know, on balance, probably 5050. i don't know. someone could make my track record. the point is 10 years from now. the industrial demand for silvers project can be 80 percent of the market. and right now it's 50 percent market. last year, mac, we had record silver purchases by institutions of good year. silver market sells

122200 1000000 ounces of silver. the retail market 2020 was 200000000 ounces of silver. ready and the institutional so i was 320000000 ounces of over 520000000 ounces. so absolute record beyond belief. last year in 2020. and the market did go up. i think scott meter did what he said when he was a dab i was in on world economic form in january and said his go to invest silver. i think to all 2020 he was buying. that's my conjecture. i can prove it. we have been on track about the same rate so far halfway through this year. so something's got to give the paper paradigm can only work for so long. i'm excited. those are some compelling numbers. david morgan, i like it. well, i think you might be out of something. thanks for bringing a cars report my pleasure back to you. and that's going to do for this edition of kaiser report with may max kaiser and herbert want to thank our guest, david morgan at morgan report until next time via the

me hello, driven by a dreamer shaped by those with me in me. i think we dare to ask me ah, only one main thing is important or not as an internationally speaking,

that is a nation's but that's allowed to do anything. all the master races and then you have the minor nation. so the slave, the americans, rock obama and others have had a concept of american exceptionalism. international law exist as long as it serves the american interest. if it doesn't, it doesn't exist. like turning this russian into this dangerous volume man that wants to take over the world. that was a culture strategy. so i'm going into a new one. i english g i. b, i not leashed to austin. one tablet block. nato could, it's our, we move east. the reason us had gemini is dangerous. is it the, the sovereignty of the countries, the exceptionalism that america uses and it's international. war planning is one of the greatest threats to the populations of different nations. if nato,

what is founded shareholders in the united states and elsewhere in large companies would lose millions and millions, or is business and businesses good. and that is the reality of what we're facing, which is faster. the mark. mark your function, you got a good way to show me what to do done on the how did i got that limiter? i wanted them to be skilled back to do

the work for me. the less about me and i was begging to go to more because what i've seen and witness in background was so destructive to this day i haven't i went to sleep the 1st of it in depth investigation into the victims of america's brutal poor on tariff with a line drawn by the us pull out from afghanistan, former guantanamo detainees, about the bag share, the horrors he enjoyed. they had a sound woman in the next room that led to believe with my wife and tortured wait with the picture of my children to be an awful witness. if they are now, would you like me to throw away.