to families that since the whole public situation began with ben condition to accept lock downs, we've been conditioned to accept that if you wish to maintain a degree of personal freedom, you'll still have selfish so many things that they're forcing on paypal through fear. it flew propaganda and see it, and it's time for people to have a look at the reality of the situation and make their own decision not be forced to come to anything. that's all for this next up. it's the cause report. enjoy me. ah, what we've got to do is identify the threats that we have. it's crazy foundation, let it be an arms race is on often very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, very critical of time. time to sit down and talk

the max that are this is the cause report el salvador big day for el salvador. let's talk about it. stay say, well, bitcoin 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, which is 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 would have 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 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 sending that remains. the 23 percent of g d p in room is the 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 that kind of building 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 has 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 the volcano energy is virtually 0. okay, 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 point network 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 the profit for anybody who defies mind. so it is a good moment for 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 of empires, different laurie going back to the roman empire and the structure of the aqueduct, for example, is 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 in 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 a 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 in africa. and nigeria isn't 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, and 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 to us. remember the seventy's after that to, you know, basically ensure the world to have faith and the dollar. and so kind of paul

volcker jacqueline race up really high, make sure that the world believes in 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 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 bitcoin adoption met with small protests. small groups of protesters have taken to the streets one week before el salvador adopts big point as legal currency protests against the bitcoin law, and president ne 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 a reported one argument is that just as the al 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 coined 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 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 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 century of war. brighton printed out the end 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, that, you know, 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. the 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 ran, we'll 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 hurricanes, hurricanes their mathematical certainty, 2 plus 2 equals 4. right? so that's right. they have no control over absolute scarcity. something that was discovered in 2008 implemented in 2009. and it's 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,

the 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 us dollar in this sort of time where it seems like locked downs and stimulus. and the mindset member, we've talked about the inflationary mindset in the mindset of wanting you been in 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 linked 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 us 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 $40.00 foot container in bitcoin from last year at this time, right? price them bitcoin terms, there's been no increase, no increase. and if you look over the 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 a big claim. we're going to take a break and when we come back, much more coming your way the me ah, the pacific leg around the world, expedition by 1000 miles round the clock in the dead calm. miss dennis as even every country close by it was

like the crew, gavin's food and one or 2 of those blue label. i know i said it's got everybody locked down or no food and no one really getting them up. so somebody stuck in the cove. it you're living like the female of own, but in the 21st century, i rather driven by a dreamer shaped by person. those in

me dares think we dare to ask me. ah, the me welcome back to the kaiser report. i'm at kaiser time to return to our conversation with miss sherlock of mich. talk dot com mission. 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 pallet, 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 or not the bad. we've got trillion dollar deficit 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, there's energy tax,

which is absolutely the craziest thing in the bell 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 saying 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 that be 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 up. additive corporations don't do watch. congress wants what buy wants, what a 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 they've got even seen an outline. yes, but. ringback rest assured that's what a t wants in there. and she is also gone on 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 a kill the whole fight. that's what i'm rooting for. but i suspect something more passed question in what i've talked to 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 progressive as you call them on the left that are talking about trying to tie energy and 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 jen z mesh, is that they don't believe a word of it. they don't believe a say anymore. 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. they know that they all get a huge payday from treading on inside information and making celebrity endorsements . right, so i think we moved on from the idea that 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 blank 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 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 there, skeptical, but it's no wonder there's mistrust miss 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 well, the reason 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 then i understand hardly anybody understands and the people who do are

lying about. so it's no wonder we're in this mess is 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 everyone should 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 give 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 a sees of the, of the, of the progressive movement is a guaranteed living wage to all 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. the 20 year fandango in afghanistan was awarding $300000000.00 a day to chuck prance st. how black water, bunch of contractors, my chuck prince, eric prince. i was thinking about the old city bank chair. 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 that we need a good healthy debate. and i think that's, i think that's a good point of view to have you met up with the clinical progress to the democrats only have to republican senators to spare against me, no senators, despair,

they need to devote to that? are they only have 3 houseboats despair? i'm hoping that the political processor collapses and they get, get these people on board. you know, that's the best hope 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 out. 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 their, their, 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 them with who is a minneapolis fed chairman as a brand or whoever they want is the, 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 while they're proud, then there are no 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's certainly never going to achieve low inflation when they're now ban on producing more of it. right. and that's gonna happen, no matter who is in there. so you know, can assess whether brow is replaced or not. absolutely. if it's what gets passed the the 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. it's a measure of faith and central banks that 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 i approached 2000 and twice it's fallen back a little bit. everyone seems to think that believes the fact that it's transitory and the fed 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 my gold waiting for them all. that mass is, i think it's going all right, back to bring on cars report mass. always

a pleasure to be on mass. thanks for having me back. all right, that's going to do this addition of kaiser report with may max guys are and stacy herbert want to thank our guests. mish shed, lot of missed talk dot com until next time via the me the the war on drugs noted as a way to combat a great problem. what's the wonder? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a check and told us that andrew was a competent short form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest get shot in the head

and found in a river like something else had to be happening with the discipline, those except maybe responsibility. any personal responsibility for the metrics be left an upcoming crystallize, and this is not so much a defeat, is a capitulation, a national disgrace, versus feel me because round on the prime minister, the dissolves to withdraw from us on why that piece branding bars. johnson in capable of international leadership the bbc apologize if fred documentary on an alleged chemical attack inferior back in 2018, which included a false allegations and informal said it was staged only to make some.