oh, 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 in very critical time. time to sit down and talk the max that or this is a 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 wishes itself. a 50 year experiment begun. august 15th 1971. so it's an experimental innovative nation and has gone full bit coin 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 they'll cut a 1000000000 off remittances. i said to 1000000000, 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 that 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 then i'll salvador, are going to add to the g d p. this country gdp 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. ok, 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 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. another 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 coined, 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 or 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, another nimble, smaller entrepreneurial the lead countries really take off and africa, 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 are saying 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 to us. remember the seventy's after that to you know, basically insure 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 el salvador adopts big point is legal currency protests against the bitcoin law and president night book 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 to basing 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 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 and 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, 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 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 e. c. b 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 favors 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, mathematical certainty,

2 plus 2 equals 4, right? so that's right. they have no control over absolute care. so the something that was discovered, the 2008 implemented in 2009. and it's something mankind that 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 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. 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 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 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,

well those driven by shaped by those in me dares thing. we dare to ask me. oh, i use

the the me welcome back to the guys report, i'm at kaiser time, not return to our conversation with miss sherlock of mich talk dot com miss. 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 bank or 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 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 are, 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 are 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 80 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 i see most projects 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 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 progresses 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. what is it? 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 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 i 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 trading 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. an afghan stan 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 guess 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 looking at all the people criticizing by me for actually ending a 20 year war. okay. he made a mess of the, you know, it's hard to whitewash, you know, am making a mass of the exit. but what was the author? the alternative was to stand for another 20 or a lot of people that wanted to do that. mainly in 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 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 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 then i understand hardly anybody understands and the people who do are lying about. so it's no wonder we're in this mass just by you really

believe has he, as he says that this package won't be inflationary? no, maybe he's the home enough to believe that. but that doesn't mean everyone should believe that you and 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 bangs of the a sees of the, of the, of the progressive movement is a guaranteed living wage to all. i just can't say that 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. you know, 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 we need a good healthy debate. and i think that's, i think that's a good point of view to have you met your vote, was the political process to i because the democrats only have 2 republican senators to spare me no senators, to spare. they need to devote to do that. or they only have 3 houseboats despair. i'm hoping this is

a political process there 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 the ill 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, see 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 powell, 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 l. c wants to be the money printer now mesh and she's going to be out. this is 11 aspect richer, 100 percent bang. i don't hear about it. not mattering. the bad no matter who's in charge, whether it's foul or a o. c gets her away and they replace them with who is a minneapolis fed chairman of 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 the administration is, the so, well, the power when there are no c gets a replacement bang, you know,

there's, there's, there's no mandate here on the bad except for to right, for employment and low inflation. they're certainly never going to achieve low inflation when they're held back on producing more of it . right. and that's going to happen. no matter who is in there. so you know, i can assess whether pow is replaced or not. absolutely. if it's what gets passed, the they bad is going to support no matter almost no matter what it is. 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 market. 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'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, you know, net now approach to 1000 twice. it's fallen back a little bad. 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 moment mass is i think it's going. all right, thanks for bring our cars report. 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 miss talk dot com until next time via the me the 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 a war on drugs started as a way to come back, a great problem. what's the, what is 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 tragic,

told us that andrew was competing 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. this is your media a reflection of reality. the in a world transformed what will make you feel safe for the tycer lation community. are you going the right way or are you being direct? what is true? what is faith?

in the world corrupted. you need to defend the so join us in the depths will remain in the shallows. ah, in the minister except any responsibility, any personal responsibility for the message be less than a constant. we have a prime minister, incapable of international leadership just when we needed it. british lawmakers round on the prime minister over they disastrous withdrawal from us down us with m . p. 's branding bar is johnson incapable of international leadership. also add on the program. the bbc apologizes for a documentary on a ledge chemical at jack in syria, back in 2018, which made false claims about a former inspector who challenge the western normative, blaming the syrian government. also ahead.