to spend maybe this guy, not necessarily a great guy, but you know, he was a good businessman and that is henry ford 100 years ago, henry ford suggested that wars could for ever more be prevented if only there was a currency denominated in kilowatt hours. question, does this sound like something that now exists? hint, thank bitcoin time for a thread. and this was from a guy who had, he is a co founder of gallo, which is like that while it being used in el salvador. and he was responding to yet another piece a fight. 1 from the new york times where they were like, bitcoin uses more electricity than many countries. and that this is a bad thing. but what the threat is going to show is that that's actually a good thing. and exactly as henry ford and others by the way, economists like me sees and hire can stuff like that. we're saying that energy back money as well as buckminster fuller or thing. energy back money is the best option

. right? big right, exactly. the new york times spaces formidably off off the mark, right? because think about a big coin becoming the global standard monetary standard. then it's being secured at the moment with less than one half of one percent of all the energy produced on planet earth. and we know that 25 percent of all the energy produces waste of energy. so, a very small, minuscule amount of wasted energy that just gets wasted not used, is used to secure a monetary network that ensures that a 1000000000 people have individual sovereignty and monetary freedom. so it's incredibly efficient versus everything else that's come before it. now, in terms of it being backed, by kilowatt hours and henry ford's observation, that's absolutely true. and essentially because of the realization of that dream. yeah. and it's important to remember, you know, i was really kind of off topic of the energy story. but the fact is that this is so

unique in history and that you've had oil or you had gold or you had central banks . and those were some countries are uniquely endowed with that. and some countries like with the central bank era, are uniquely endowed with a huge amount of force and violence that they can inflict on everybody else to use their currency. but all of them were either centralized in some way. we see that with saudi arabia and the usaa relationship at the moment, but the coin is totally the centralized and totally distributed. and anybody because of the way it uses energy, it can capture that stranded energy and like places that were just left off the financial and banking in economic grid for centuries, decades, you know that they can be put back on that. they don't need to now bag washington dc for some handouts to be sent to like say somewhere in south africa,

which has one of the highest rates of renewable energy in the world. the sun, solar power available to them should they wish to pass it. like you can capture that stranded energy. now because of the big point. right. you know here a platter it's, it's based on energy. it goes all the way back to the big bang, approximately 14000000000 years ago. and we're still living on the trail of energy that was started back then. and there's nothing that doesn't use energy here on planet earth. the question is, what are you using energy for? and can you use it more efficiently? right now, all the energy use for the fat money world as you point out us back by violence, right. as the new york times said, the d u. s. dollars back by violence. that was what paul crosby said. they're columnist. and so big coin is not backed by violence, there's no way you can co worst anyone to give you their private keys if it's

properly secured and it's impossible that doesn't even apply to gold. gold is easily accomplished capable, as has been done many times before. so the amount of energy required to secure a global independence for a 1000000000 people is a minuscule of the energy use today to put out this money system. and therefore, the total energy usage on planet earth by humans. as i've said now for a couple of years, as we go to a big coin standard, the energy footprint for him was, would be cut in half, at least. right? and we're going from empires to nation state and now to individual sovereignty. and there's, by the way, no more stress energy, then volcano energy, right, and al salvatore, which is one of the smallest economies on earth, is now the 1st to have a big coin standard. and they're going to use their volcano energy, which is not only stranded, but abandoned, hugely. nobody wants to live near

a volcano, right. like who the heck wants to do that? well, there you're going to be able to tap into that free, abundant, nothing. no. and no force on earth is bigger than nature, right. and humans that haven't been able to be as powerful as nature and that energy is going to be tapped into. now, back to henry ford, he said, one of the greatest businessman's ever walked. the earth said hunter, and below is a snapshot from the actual front page of the new york tribune newspaper on december, 4th, 921. he said ford would replace gold with energy currency and stop wars follow up on the tweet. ambrey ford offers up the idea that all wars would be prevented with a currency based on energy usage. quote, the essential evil of gold and its relation to war is the fact that it can be controlled. he said this in 1921, break the control and you stop the war. yeah, that's right. for the raisins. so we've been talking about. it's not back by

violence. it's backed by the monetization of peace. actually, when it comes to bitcoin and with energy, it is decentralized. buckminster. father said that planet earth gets about a 1000 times more energy every day that uses, right, there's a lot of energy around. the question is, how do you harness it? what do you do with it? and with big coin you're converting electricity into the hardest one ever known, then the history of the world. and so once you do it, it can be used in perpetuity. and that has the ability, essentially to distribute energy and energy usage down the granularity of that to a point where in my view, where we're headed is a future where the whole idea of money itself changes radically. because mostly what drives people's need or want of money as a perception of depravity. but once you're converting nave,

the energy which is you pick what is an infinite into bitcoin. all the fear of not having something or not having enough disappears. so we, as a species evolve in this huge quantum leap enabled by bitcoin that's going out of it, or we're going to see something remarkable. going to seen an economy take off the g d p, and all salvador is about to explode higher. and that all regions about to go fully bit going hyper because it is ation. and that's going to filter up to some bigger countries. it's going to go global and we're all living to something that is absolutely remarkable. and i do want to add to those in el salvador watching this the dubbed in spanish version. i want to warn you, you know, now that everybody in the world knows your air drops some bitcoin and just be aware online max will not be contacting you. there are a lot of impostor accounts of macs. so we noticed when max tweeted in spanish recently, there were

a bunch of scammers pretending by new scammers emerging to try to contact you. so make sure not to give away your bitcoin to anybody on line. and in terms of this break the control and you stop war, break the control of the money you stop war. henry ford saw this, and this is one of the short comings of gold, is that the vast majority of, as of it is in the hands of the central banks. and they can do with it what they will they control that. so they could make war wherever they want. bitcoin is not controllable. even somebody like michael sayler who's just buying a billions and billions of dollars of it. the queen has already proven and 2017 that no oligarch can stop it because that algorithm and the distributed nature of it prevents that ever happening. there's no one guy to appeal to if you want the

fed to do something for you, flash back to 2008 in the middle of the worst part of the national crisis in october. who did jim kramer at cnbc appeal to he appealed to ben. fernando and pam pronounce, listened, print, more money, lower, rave, bail out the banks. and he did it right. there's nobody to appeal to embed quite and you can't, you can't, you know, cause these imbalances. you can't interfere in the flow of the funds. you can't stop, the network imbalances won't disappear. but on the other hand, the imbalances won't persist. the problem with the bernacki system in which m. kramer proved into this 2000 a embarrassing plead. was that the imbalance had been going on for too long and that crack that broke. but with bitcoin and a big coin standard,

the baton bounces cracked themselves very quickly. just like driving a car. you know, you're constantly correcting yourself when you're driving a car and the net result is you're going or you're going to go if you just kind of point the car that way and went to sleep, it wouldn't work out well and that's pretty much the policy we have in the united states and around the world today is that central bankers really don't think through much what they're doing. they just print a bunch money and then they go in and have a cocktail and lunch and go out to the hamptons, and they forget about it for weeks and months and years on it. and they haven't had a new thought in their head in the federal reserve policy making committee now for almost 20 years. now, again, the central bank will delete thinkers of the us cable news class. they're against bitcoin because they say it uses energy. but everybody from buckminster fuller to henry ford to frederick highest, all pointed out that that would be the best sort of currency to have. now we cut to

that money printer, go broke and look what they have, cause and look how they are able to control gold. and you can see that in this m to money goes for. here's the charts for bitcoin stock box and gold adjusted for money supply expansion. and you see money supply that the huge surge last year than this is a bit coin. and this is the s and p 500 and there is gold has been declining at lock stop as m 2 is going up. now a lot of people say that's because of manipulation that, that obviously this is what central banks look at the gold price. alan greenspan had admitted that in f m. c minutes that were released. you know, everybody knows that they look at the price, the goal to see if people are going to keep on buying into that scheme and accept the money printer go better. and, and this is that adjusted the growth trajectory on the same scale. this is bitcoin, this is the s and p 500 and that's gold versus the m to money supply. so big coin is i is going up. you can search online for a film,

the macro stacy made called as good as gold proximately 16 years ago, which outlined this exact same thing. and so this is not new. and this is the fact that we've been living with big coin changes everything. and we're going to take a break, and when we come back, what's more coming your way the coin change is everything wars over if you want it? the me. ah, ah, is your media a reflection of reality? the in a world transformed what will make you feel safer type relation for community you going the right way?

where are you being somewhere? direct? what is true? his faith, the in the world corrupted. you need to defend. ah, so join us in the depths or remain in the shallows. ah, i have often said transparency for the household, for the last bit cares about privacy. what people care about is power attorney and a son just become a symbol of the battles of brevity. information is power, that's what's going on and a huge struggle with governments and corporations who want to keep information secret and others who democratic rights should be pushed forward. and people have

a right to know what to do. watch houses help to shift the conversation around transparency and see what that battle has done to him. i feel like julian's life might be coming to an end. we are in a conflict situation with the largest and most powerful employer. in such a situation. it's remarkable. the survive the the, the, the the, me, welcome back to the kaiser report. i mass guys are time now to go to michael panto . yep. news. my manager down at the pent port dot com, whose latest commentary is titled the great deflation of 2020 to michael. welcome

back. so good to see you, maxwell. before we get to the flesh, i want to ask you about gold. on both a 10 year chart and a one year chart, gold is down. how is that even possible against the backdrop of the fiscal and monetary stimulus? you know that we've seen the same data control is what's going on. michael started as a warning to those who think that gold is always a great, as you get some place and all the time. i mean, we have whole prices that have risen by over 90 percent year on year. we have dpi, you know, high single digit cpi, high single digits, and your goal is down. you have to understand what drives goals, role bones and non interest barry assets. and it doesn't do all that well when real interest rates are rising. and that's exactly what has been happening since late summer of 2020, which is why i sold all my gold back then. i only on re percent read or 5 percent.

i've been juggling and toggling between 3 and 5 percent. because by q 2 of 2022, you're there one on gold with both hands because real interest rates should be flowing by then you're going to have this inflation deflation in june of next year are right now. so he a lot of pressure on the tenure and duration bonds. and you know, i'm reticent to increase that allocation right now. but really just raised me falling later next year. and you want to start getting an increase in your allocation as we get closer to inflation in the us. but to follow up on this, it's running apparently at the hottest is better 40 years on your, on my 40 years ago. however, rent is free student debts are about to be cancelled, and universal basic income is pretty much a reality. right, so there are printing off the money in flesh and out of $40.00 or high. so you're have you have you plug that into your, your view,

inflation to lagging indicator. i don't look in the rear view mirror, the drive use a staid platitude. so why did we suddenly get inflation backs? that was way higher than the bet ever want to remember, they couldn't get to 2 percent. whoa, is maybe we can get a 2 percent inflation. what are we going to do? the core p. c's below true, lovable. well, they figured out, you know, they have 900000 ph. d economists. how do we get inflation? how do we engender inflation? well, they finally figured out a us citizen, so much money through a government stipend and helicopter money and mt to sit home and not produce goods, not produce services, give them more money than they would if they had a job. and oh my gosh, look, you got booming money to buy growth brought us on why growth booming and there's no goods or services available to purchase. and they've got inflation apple. so they finally figured it out. but just rear view mirror match. they gave the equivalent

of every american family, $50000.00 to go out and party. guess what? that was 25 percent of gdp next year. it's to percent of gdp. maybe as far as spin dose is concerned, and that's going to come with higher taxes on the rich show that tax, that missile cliff is going to occur, occur in the context of a monetary clip match what was last time they went from printing $120000000000.00 a month to 0. well, that's going to happen in the 1st half of 2020 joe. you have the biggest fiscal and monetary cliffs in the history of the united states occurring in the next 8 months, the 9 months. so why in the world, if you don't know if you don't understand what questions lesion, you're one of these intractable inflation easters? now i'm not saying that the space isn't going to respond to the next crash with the

massive amounts of helicopter money and the treasury regardless of the conflagration and d. c. right. now, republicans and democrats will agree on another massive symbols package which will be monetized for the fed. but that's ex post crash. so i don't see how this is any different then in the last 10 years, right? they, they threatened the raising rates. markets full in 3 or 5 percent, then they print a lot of money and all the central banks around the world are in on it, right? they all work with each other. well, so what's the difference now between i don't see any difference really. i mean, that was the difference. there's the same thing over and over again, year after year for 10 years. the difference is and it's a subtle difference. maybe they, you know, if you're saying that the fed cannot raise interest rates are exactly correct. used to be 6 percent. the trader, the nasdaq in one in 299-0000. well then it was 5 and a quarter that traded the housing market and then it was 2 and

a quarter. they traded trader the market in 2019. we couldn't even get to 2 and a half percent. well, the next iteration of a crash might not be one percent. maybe they just and q we in the whole thing evolved into arm again. but it is, it is dramatically different if you think about all, you know, the last time we have inflation was 40 years ago, inflation was running it. you know, the machine smacks. if you look at the way shadows to actually look, shadow stats looks at it. we're back to 14 percent, so we'll go ahead and take interest rates to 20 percent to vanquish inflation. well, i mean, i don't think we're going to go anywhere near 20 percent. i don't really think where he has a 2 percent or could you, could you imagine what's gonna happen to the shadow banking system, the leverage loan market, the junk bond market when they, and all of this fiscal and monetary should work. you know, again, if you, if you are interest rates just back where they were normally on the fed funds rate say around 5 and a quarter, 5 percent. you think 40 percent of all the revenue on the us that

that's, that's the interest payment on our federal debt will be 40 percent of all of our revenue. so you know, it's untenable to believe they can, they're ever going to be able to raise interest rates are i'm not saying that i'm saying that it's not gonna take very much for the next crisis to occur because the level that creates chaos goes down, down, down and i don't think we'll ever be able to really exit queue we fully before the next credit crisis into and then you're going to have a big problem because they're going to have a chance time. what are they going to lower interest rates? well, they're already be 0. so the credibility, the next time we have a crisis and will be a $30.00 to $50.00, maybe even the 80 percent drop in the stock market. i just want to hasten to add that people have to look at history. and in other countries, you know, the japanese stock market in 100942 decades. it's very max,

don't i gauge o prices fell by 45 percent or 20 years after the big epic for their slap market than this idea. so any present it can happen here. i mean, you don't think a bank is midnight is as maniacal as the fed. so, so here's the point. we're going to have massive destructive, disruptive periods of both deflation and inflation. and that's the predicate for my model. the model, the inflation deflation, economic cycle model. all i'm saying is you have to be on the right side of that tree. because if you look back in history, we've had blue bus cycles, like we've never seen before. the duration get squeeze, duration between the chaos gets waste and the, the bottles get worse and worse, purchasing power for my us dollar, is it going up or going down? so it's going. so right now it had been going down for several years. if you look

at the us dollar as merit measure on the dixie, it's actually up in 2100, joan or 1000000 americans or $300000000.00 americans, their experience with the dollars in their pocket, the purchasing power. is it going up or going down? it's launching. ok, and that's been the story for 10 years. 20 years, 30 years, every single year purchasing power of money goes down. and so my question i get back to it is those who do have some a well, why wouldn't they therefore protect themselves against the plunge and purchasing power of their money by buying gold? and therefore, why is the gold price stagnant? right? there must be something else going on here because you've got lots of people with a lot of money. there's like 20000000 millionaires in america. and they don't like

having their wealth being evaporated overnight or over the year over year. because of all the shenanigans going on with the money printers. so why are they buying gold? i mean, they're mean the answer is that they're buying these high growth stocks. that's the answer. and those growth stocks like apple and others, and amazon are doing fantastically well. and those companies are doing a fantastically well because they're buying back their own stock with all that free money coming from the fed. so it's a self fulfilling prophecy. and though the gold can compete with that. so why is that going to change though? apple is not going to stop buying back its own stock. it's a $2.00 trillion dollar company. they have their ear, the fed give us all the free money we're going to buy back our own stock. warren buffett loves us. and that's going to continue. now for the next 5 to 10 years, that's not going to stop michael. i love when you ask the question and answer it for yourself. it's statistically,

if we got real rates are negative, they're positive. that i'm saying that from a money management perspective, why would i go against what i see to be the facts. you know why an apple stock might going to go up 20 percent a year for the next 10 years. first of all, i, you know, i manage money for living, unlike some people and i manage money for living, meaning that i have to decide whether i want to buy dollars or sell dollars. if you look at terry's history, when we have a global chaotic outbreak, the dollar always rises. not now. i'm not saying the dollar is going to rise against real estate, which is of $900.00. the biggest increase in real estate we've never had, you know, the year was a june figure. i'm not saying it's not going to rise against the dollars, not before you stop and say that, i mean, i manage money for living. i actually own some of the stock that you mentioned for my portfolio. i am saying that the dollar, the rise. secondly, during periods of global chance is have that happen in 2008 that happened in 2020.

it's going to happen 2000. that's all i'm saying, the dollars up on the year, on the d. x. why does it mean that me with my dollars in my pocket or losing power? look at, i'm in naples florida, trying to buy real estate and set up an office, and the whole prices are up 80 percent year over year. so there goes by developers in my pocket to start mark is up over 20 percent. and guess what? i mean, this is the, this is what they're in business of doing the bell. your is in business of destroying your turnkey, but they're not different than the u. c, b and the b o j the p b o c, and the bank of england, they're all the same on the same g. i let me ask for a 2nd. i've got to ask something because you're a smartphone. what is a reverse repo? okay, we got about 30 seconds just what is the reverse repo. you know, the point of, from the point of view of the fan based printed $1.00 trillion dollars every year

for the past couple years. and a banking system is so flooded with money. the overnight inter bank lending rate is so flooded with money that it risks going below 0 percent, which is the bottom floor of their fed funds rate. so they have to the fed as the shell bond over a trillion dollars every night just to absorb the money in the fed funds market to take out all that extra wendy and raise the floor of the fed regatta kind of their job or for a 2nd segment, thanks to bring on the cause the report. thank you max, and that's going to do for this edition until next time by the me. ah, when i was shot same wrong when i was just don't the road. yes. to fill out the thing because the attitude and engagement

equals the trail. when so many find themselves well, depart, we choose to look for common ground. the pacific leg around the world expedition 5000 miles round the clock in the dead calm every country close by. it was like the crew cabins for food and water and to go to chat for a show. the little boy in the little thing is

got everybody locked down or almost no food and no one really? i'm not sure. somebody either stuck in the coven. you're living like the female of own. but in the 21st century. ah oh right now, there are 2000000000 people who are overweight or obese. is profitable to sell food. that is trinity and sugary and faulty victim not at the individual level. it's not individual willpower. and if we go on believing that will never change that obesity epidemic, that industry has been influencing very deeply. the medical and scientific establishment, ah, what's driving the obesity epidemic?

it's corporate. me the the simply put, i do not wish you. i'm not simply what you got, i don't hear your installation period in front of the camera and you will get us filmmakers. right. secretary said anthony, blinking over his handling of moscow christ, as he says, is inherited from former president donald trump. this way we're going to introduce you to the parties involved in the rice. also give you a deeper insight into russian politics. why not to be on the left and the also that russia.