joyce, that's right, fell out that way. join me every thursday on the alex salmon 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 theory that relieves unconfirmed messengers from the us military review will be upon equal. the withdrawal from a gun was troops unable to rescue the fellow citizens before with special for the soldier who should be encrypted to place the blame. equally would be u. s. government, our biggest problem getting people out actually in the us government is actually not the man. i know that sounds crazy, but the biggest problem is not in the valley. been actually it's in some cases of actually helping us while in the u. k. on great plumbing, terrance rage,

a prime minister bar, as johnson's onset over his handling of the events that unraveled and got us on the end of the nation. fuel the long awaited and frequently undermined new trying to gas pipeline projects will finally be completed in a matter of days with the last part of the pipe wells is into play. those are the headlines they sell at the next 8th, because a report on all the international the max that or this is the cause report el salvador big day for el salvador. let's talk about it. stay say, well, big queen becomes legal tender to day,

and el salvador is the beginning of an experiment you can might say. but bear in mind that salvador, until today, had one legal tender which was the us dollar wishes itself. a 50 year experiment begun. august 15th 1971. so it's an experimental innovative nation and has gone full bit coined today, right. who thought? well, i think we had a suspicion. it's almost exactly 10 years ago today when we 1st introduced to the world, the idea of bitcoin, it was trading at a dollar. and this was back in 2011. and i said it would be the biggest story the decade. and certainly that has proven to be the case, and now we've got el salvador making bitcoin legal, tender i, we should know that this is really in part due to the her de leon effort of jack milers over there at the strike app. so this is the beginning of a new era. you know, this is why i'm wearing their color of their flag max has his flag hat on the el

salvador flag there. and just to give you some data just so you understand what our salvador is. if here, if you're not familiar with that, it is, the economy is and us dollar terms $26280000000.00, which i'm purchasing power parity. if you're just for how much that dollar goes there versus in the us, it's actually then you could say it's a $58000000000.00 economy and p p p terms. but importantly, 23 percent of their g. d, p is remittances, mostly from the united states. right? so the remittance market, this is a huge business around the world. and in the el salvador case, you're saying 23 percent of the g. d. p is money that is sent. and el salvador principal from united states, but elsewhere in the world from people who are working abroad. and then they're sending money back to their family. now,

with this new bitcoin as tender law and the application of apps like strike, the cost of selling that remains, the 23 percent of g d p in room is the re, mountains is going to be reduced by probably 98 percent. and the estimates last i saw was that this 23000000000 or p p. p adjusted $28000000000.00 economy is going to increase by $2000000000.00, day one. so in 2020, which was the largest year for remittances. they saw about 6000000000 remain remitted to their economy. so yeah. on that $6000000000.00, there is a wide range of how much the likes of western union charges, but it's pretty significant. so they're hoping to cut up $2000000000.00 just on

remittance is cost to the economy, which is substantial, obviously, to, you know, just on a nominal numbers $26280000000.00 economy. right. ok, so look at a 1000000000 off remittances. i said $2000000000.00, certainly over the course of 2 or 3 or 5 years, you're talking about billions of dollars and that as a huge impact on this particular economy given the size of the economy. my understanding also is that the, the country will now tap into their volcano energy, the geothermal energy. they're set to generate another $1000000000.00 in revenue from mining bitcoin because their cost of that volcano energy is virtually 0. ok, add another 1000000000 to the g, d p. add the fact the property values are going to go up. and the fact that tourism is going to go up at the fact that all those entrepreneurs that are plugging into the big coin networked in el salvador are going to add to the g d p. this countries g, d, p in el salvador, it looks like in the next year to 3 years is going to be one of the fastest growing

economies in the world. and certainly if you look at it, the timing of this is that the biggest economy in the world on a p p. p level, china. okay. china decided to ban big queen mining, thus driving down the difficulty rate, thus increasing their profit for anybody who defies mind. so it is a good moment for el salvador in order to mind bitcoin, they're using their free essentially free energy. the geothermal caused by the volcanic activity in the area. yeah. if you look at history, different technologies of impacted countries and civilizations and empires. different laurie going back to the roman empire and introduction of the aqueduct, for example, as a technology, modern roads and other technology. and the modern cement goes back to those days, and it had a huge impact on the infrastructure and the growth of those empires. here we have big coin, which is really the most remarkable,

new development in infrastructure for our country. we've seen and hundreds of years, and one country china is showing that technology much to its detriment. and here we have el salvador in a position who's embracing the technology. so the tectonic plates of geo politics are shifting and we're going to see latin american countries lead by el salvador. start to move up. i think this is the big surprise. the 21st century people assume china was going to be the big winner of the 21st century. i think china will be along with the united states co terminus. i think they'll both fall apart. and i will see countries like i'll, salvador and other nimble smaller entrepreneurial the lead countries really take off and africa, nigeria is remarkable. what's happening there? that's where really global gdp is improving completely outside of all the n g o. as in the global, as the world bank and the i m f and the davos crowd, this is sovereignty by bitcoin, and we're seeing the world change. there are some local protests about this law.

we'll get to that in a moment. i do want to point out, this is a remarkable experiment and a moment equivalent to believe august 15th 1971. when the world went off the gold standard essentially, and just went on to an all fi at us dollar standard. and remember, it was quite small choice. remember the seventy's after that to, you know, basically ensure the world to have faith and the dollar. and i took kind of paul volcker jack and raised up really high make sure that the world believes and the us dollar. so we see that, that faith started to disintegrate all over the world, mostly through the weapon is ation of the dollar rails as a global financial system. because obviously you need a neutral rails to make it work. so we'll go to some of the protests that were covered in the magazine here. here's the headline. el salvador bit queen adoption

met with small protests. small groups of protesters have taken to the streets one week before l. salvador adopts bit point as legal currency protests against the bitcoin law and president neighbor kelly are becoming more common ahead of it taking effect on september 7th, which is today. this article was last week. local san salvador media sources said the protesters believe bitcoin will pose a serious threat to el salvador. the economy business inside are reported. one argument is that just as the el salvador in government can't control the united states debasing their dollars, which they are currently totally dependent on, they won't be able to control a bit queen economy either. that's right. they, they can't control american debasing their dollar. and they can't control the fact that the purchasing power of big coin by mathematical certainty will continue to go up. and that's what you want with your currency. i think that once it rolls up and people use it, i think that within a few weeks, people will fall in love with this. and they'll take pride in the fact that el

salvador has changed the world and you know, was december 7th, 1941, the day of infamy, which was recorded in world history as being called the day of information. and that was all about the money in war. that was the world war 2, which is brought, brought you by the money printers at the central banks. and this is a day that's going to reverse all that 80 years of the a century of war. brighton printed out of the band of a printing gun, and now we're going to have and the love bomb bitcoin. and all, salvador is the beginning of a new century. yeah, indeed. and by the way, i might point out again like this is an experiment and it's a radical and revolutionary one. and i think it's quite brave because indeed the government will have no control over it. but they are certain of it that the emissions schedule of bitcoin is certain unknown and they know it and they can plan

and build around that. and that's important. i think the experiment of the us dollar and the central banks that collude as know me, prince says in her book, collusion that they're going to try to maintain their otherwise failed experiment with c, b, c's central bank to digital currencies. el salvador is front running them by introducing bitcoin, but i think these other bigger economies, like the u. s. fed like the sep, like the baggage brown will roll out their digital currencies, which are basically just the same digital format. but because of the digital format, they can impose negative interest rates on ordinary savers and a social credit score, whereby they could basically denounce you for per se, using your money in certain ways. right? well, governments have no control over the orbits of planets. sunrise, the rising in the east gravity. hurricane hurricanes,

the mathematical certainty 2 plus 2 equals 4. right? so that's right. they have no control over absolute scarcity. something that was discovered the 2008 implemented in 2009. and as something mankind has been searching for his entire existence, hundreds of thousands of years, this has been looked for, has been the try to find absolute scarcity. and they mckelly leadership in el salvador, entrepreneur smart guy, micro down history as really the smartest leader of the past 100 years. right? well, we'll see, we're going to keep on top of this and we're going to obviously keep on observing this and hopefully travel to el salvador in the next few months. i know there's a big, big claim party plan. they're not gonna tell you when, unless you're invited or where. so, i just want to point out, you know, in terms of them already being pegged to the dollar in this sort of time where it

seems like lock downs and stimulus and the mindset. remember, we've talked about the inflationary mindset in the mindset of wanting u b i and wanting debt forgiveness and all that money printing. like this is the sort of story here. and this final little chart here that they have to worry about going forward. all these smaller nations that do have some sort of link to the us dollar parabolic spike in cost to ship $40.00 foot container from shanghai to los angeles. now at $11400.00 versus 3 and a half 1000 this time a year ago. as you see those people concerned, and i'll salvador about the volatility, that's volatility in your currency. they're right there. yeah, this is the inflation now is bleeding through in all aspects of the economy. and it's structural, it's secular. it's going to be with us for many years, and it's going to destroy the quality of life for billions of people and in the u.

s. and around the world. and all, salvador is actually making a bold step to neutralize the inflationary impact of the destruction of the money i might add, that would be very flat. the price of the container, the 44 container in bitcoin from last year at this time, right? price them bitcoin terms, there's been no increase, no increase in the past. if you look up with a 5 year time frame, the cost of shipping and everything else has gone down in your purchasing power is guaranteed to go up mathematically guaranteed. as the earth revolves around the sun, as sun rises in the east, your purchasing power is mathematically guaranteed to increase of bitcoin. we're going to take a break and when we come back, much more coming your way the me ah,

ah ah, me. what we've got to do is identify the threats that we have. it's crazy going from station let it be an arms race is often very dramatic developments. 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

the me welcome back to the cause, report back, cause or time, not return to our conversation with miss sherlock of mich. talk dot com mis. welcome back. and let me jump right in here. you know, we were talking in the 1st segment about as you describe the new troika with basically j palate, the fed janet yana treasury and i forget the 3rd but another banker no doubt. and we're also talking about politics and well this bill pass. it's a multi trillion $3.00 trillion dollars. think america plan as you call it. but before we get into the plan, the politics of it, are we in a post political age mash? i mean, doesn't really matter what the bills, no matter what's in the bill, it's always going to be just more money printing and keeping interest rates,

there's 0 and lying about inflation. so those really matter what's in the bell, so why should we care? i think it doesn't matter what the bill, but yes, you are correct. that no matter what is in the bill, even whether passes or not. the bad. we've got trillion dollars. as far as the i can see whether we throw another 3 and a half joy on top of that or not. but that 3 and a half trillion really is, you know, important there's, there's things in there that are pro union that are going to drive up prices. there's, there's this energy tax, which is absolutely the craziest thing in the bill if you ask me. and then there's, you know, whatever is in there that we don't even know about yet the, they're going to try and i did, and there is one of the things we're going to have to pass the see it with those things all add up. but it's that energy piece that i referred to there. i call the

they sank america plan because that is not transitory. you know, they won a percent clean energy by 2030 and 100 percent by 2035. so this is progress. so every year we're going to need more and more and more and more. every year, costs on corporations are going to go up and up and up and additive corporations don't do watch. congress wants what buy wants, what a a. oh see. most project definitely does not want. if they don't if the whole world doesn't do what i see was then we're going to raise taxes on them until they come. why? that is what they're talking about. we don't know if it's in there or not because it's not even seen an outline yet. but rest assured that's what she wants in

there. and she is also gonna record along with a handful of other progresses that say if this isn't in there, there's like $95.00 progressives in the house that say if there's an in there, we're going to kill the whole thing. now, what's the best thing that can possibly happen out of all this? i kill the whole fight. that's what i rooted for. but i suspect something more past question it was. i talked a lot of millennials and gen a and they're not really buying this political divide anymore. and the way you're describing here is you've got progressives as you call them on the left that are talking about trying to tie energy in with some progressive agenda. and you've got corporations on the other side who would be potentially taxed,

etc. and when i'm hearing from millennials in the jens a mesh is that they don't believe a word of it. they don't believe a say any more. they don't believe anybody on the conservative movement anymore. they know it's all a puppet show. they know it's all staged. they know that they're all corrupt. there is a, there's, there is no longer a political debate in america. let look what happened in afghanistan. america flew out of their leaving by some estimates $85000000000.00 worth of our tax money in weapons of mass destruction when in the blink of an eye. right, so they didn't, they didn't give 5 seconds of thought because they all got paid. they all got paid, doesn't matter. right, so i get 3 back here at point about the troika, is that that's who's running the show, the money printers. and so we do something about that mesh that the, the political debate has just window dressing, my friend at a certain level on certain things on military spending. i am look at all the people

criticizing by me for actually ending a 20 year war. okay. you made a mess of the, you know, it's, it's hard to whitewash, you know, am making a mass of the exit. but what was the alter? the alternative was to stand for another 20 or a lot of people that wanted to do that. mainly the military industrial complex, which is where this is all started. you know, we, we've wasted easily 6 trillion dollars over there. we were, we certainly would have been better off spending that money here, right. the so it's no wonder they're skeptical, but it's no wonder there's mistrust. remiss both of those are well deserved. but that doesn't mean you can't make things worse. yeah, you can always make things worse. and all other is one of the ways to make things

worse is, is to do this package that i'm talking about. yeah. the, i don't believe we have instant flight stagflation. unless they pass this energy component that i'm talking about. they probably don't see it that way because they don't understand hardly anybody understands the people who do are lying about. so it's no wonder we're in this mess this by you really believe has he, as he says that this package won't be inflationary? no, maybe he's home enough to believe that but that doesn't mean every once you believe that you want. i certainly don't like this package and believe it, but yes, yes, yes ma'am. i mean, to say nothing matters implies that, you know,

we can, all of a sudden gave a $1000000.00 every day to everybody. you know, and that's probably the goal. unfortunately, that's the goal of not a $1000000.00 per se, but of the andrea gangs of the seas of the, of the, of the progressive movement is a guaranteed living wage to all i just can't say that if we do that, it doesn't matter because it's us unfortunately, that is the direction this biden express is. are talking about the daily dispensation of cash they 20 year fandango in afghanistan was awarding $300000000.00 a day to chuck france here. now, black water, bunch of contractors, my chuck prince, eric prince. i was thinking about the old city bank air difference, right?

so here you have but and now, so i hear what you're saying mission. i mean you're, you're, you're offering a message of hope that the political process can still work. and we need a good healthy debate, and i think that's, i think that's a good point of view to have the political process to i because the democrats only have 2 republican senators to spare me no senators, despair, they need to devote that are they only have 3 houseboats, despair. i'm hoping that the political processor collapses and they can get these people on board. you know, that's the best hopes to saturday year. we just have to wait and see what, what it is exactly. we're at the end of this month. that's the target for the outline. now we finally have a date for the i, we don't have an ally. we got a date for the out. right?

well, i want your opinion about this. so, given the political spectrum that we're just describing and the struggle for power as one often finds in the political arena, a o. c, who you mentioned, and her cohort are seeking membership on the federal reserve board. they would like to join in with the federal reserve and j power, and they would like to make sure that the money that's being printed goes in to their pet causes, like climate change, etc. so they're, they're not waiting for the political process to resolve itself. mesh, there, there are, the barbarians are at the gate of the fed. they're like move over j pow. we want to print the money and we want to print the money for our causes because we ourselves realize that the political process is dead. it's all about who prints the money and a r c wants to be the money printer. now mesh, actually going to be out. this is $11.00 aspect richer,

100 percent bang on. you know, hear about it. not matter. it has the bad. no matter who's in charge, whether it's foul or a o c good sort of way and they replace their with who is their minneapolis fed chairman as a brand or whoever they want is be the fed is ultimately going to do is ultimately going to carry out the wishes of the admin as the administration, whatever that administration that they so whether power genair or c gets or replacement, you know, there's, there's, there's no mandate here on the bad except for to right, for employment and whoa in place. and there are certainly never going to achieve low inflation when they're now ban on producing more of it. right. and that's going to happen, no matter who is in there. so you know,

can assess whether brow is replaced or not. absolutely matter if it's what gets passed the they bad is going. busy to support, no matter almost no matter what it is, and let's look at the mark as 1st 2nd, because ultimately we'd like to look at prices and see how things are playing out in the markets. and of course, one market we've talked about for many years as the gold market over the past 10 year chart. it's been, it's down 3 percent over the past 10 years. it's not, doesn't seem to be reflecting a lot of these trends, or maybe it is. we've got about 40 seconds left. what do you think? goals kind of interesting. it's a measure of faith and central banks. that's faith goes. you know, up and down. you know, not too long ago was the 1000 and rose all the way. 6 years ago. i believe was approaching a 1000. now approach 2000 and twice it's fallen back

a little bit. everyone seems to think that believes the fact that it's transitory and the bread is actually going to do some tapering and it's not going to monetize the whole world. we all know max, that's wrong. gold is one of the few things that's not in a bubble. i'm convinced that gold some day is going to be a bubble. i'm holding on to mike gold waiting for them. moment mass is i think it's going all right back to bring on cars report mash. always a pleasure to be on mass. thanks for having me back. all right, that's going to do for this edition of kaiser report with may max guys or and stacy herbert want to thank our guests. mish shed, lot of missed talk dot com until next time via the me hello, driven by

a dreamer shaped by those in me dares think we dare to ask me? ah, the ah, the

ah time action or to senior what's going underground? the team and i are away at the moment, but we'll be back for a new series on september the 8th until then we'll be playing some of your favorite episodes of this season coming up in this show over the past week, so called mainstream media has been waking up to the potential extinction of humanity after landmark i dcc report issued a warning of hell on earth because of climate change. while this, while the new cold war ratchets up, the chances of extinction, but another man made existential threat, nuclear annihilation. so is humanities, intelligence and collective knowledge, also the route of its own destruction and the only beneficiaries of billionaires looking to escape the planet in private rockets. joining me now is renown philosopher, author.