ah, a robot must protect its own existence with a fever out becomes the attitude and engagement. it was the trail. when so many find themselves world, the more we choose to look for common ground. oh

i matched kaiser. this is the kaiser report to show you love stacy. right, well i have an important piece here that i want to discuss because it is a got a lot of attraction from the blue check twitter crowd, mainly those who are more democratic, leading, liberal leaning economists. and they see this as a good solution. the headline of that topic we're going to get to is biden's spending bill won't save the middle class. and the reason is because property prices, an asset price is, is all where it's at. and they're basically suggesting, in my opinion, and asking now. so i want to remind people what an asking out is that my english pronunciation of the french word for the paper bill issued in france as currency from 178921796. during the french revolution, a financial expedient on the part of the revolutionary government,

the increasing issuance of the astronauts resulted in inflation. inflation here is a bit of an understatement. if i believe this is a british, a catalogue here that we, i took this from the definition, it's very understated, of what happens to the us ignore which caused chaos and hyperinflation and collapse . but in december, $1789.00 to pay its immediate debts. the national assembly issued the asking not as a bond bearing 5 percent interest with the recently nationalized church lands as security. by september, 1790. the assembly made the asset now into a paper currency. and the amount in circulation was increased from 400000000 leave . to 1200000000, the initial effect of the paper currency was beneficial, simulating economic growth and eliminating a money shortage. that sounds like today, right? all the positive stuff that happened after 2008 financial crisis. and now here we're doing a 2nd round of money printing, but

a deep public distrust of paper money, and the fear that the currency would be worthless if the uncertain revolutionary regime collapse soon cause the asset not to depreciate. i hyper inflate memory, it's a political event as a change of mindset that happens that is very dangerous to any theat currency for right. so the peasants, after winning the revolutionary insurrection against the royals, and proceeded to collateralized lots of stuff, including church property, to issue some paper money. and this was met with this stunning. i'm kind a repudiation of the laws of physics by suggesting that they could simply collateralized everything under the sun to create more paper money to pay off the interest on the previous paper money to create more paper money. so in the united

states and around the world, what we've seen over the past 20 or 30 years, a warner called collateralized debt obligation c d o's. this is essentially the modern equivalent of the asam yacht. panic gave us the subprime crisis. they gave us the global financial crisis. they gave us the stock market created by 397 a gave us the bond market crashed, 1993. and today what the article that you're talking about is that buy it and stimulus plan won't really work. that they're pointing out, that there is always an end game to the amount of, of tickets chicken sell on the same item that the kids just like that movie the producers. remember, they sold more tickets than they had seats, knowing that the show would be a bomb. and the, so this is at the end game and to map it with the, the present revolt of the french revolution. you know, we were just in, in paris in on this is still a hot sewing item in paris. these are

t shirts featuring the guillotine. and so the memory of the reign of terror were approximately $40000.00 bankers were decapitated. is still fresh in the minds of france, population and they considered earth one of the greatest events of their history. so yet the reign of terror or the terror as it's called in france, it did happen during the asking not stage in terms of what they're talking about in the biden story in the bivens spending bill won't save the middle class. the article here which was widely circulated, as i said, it's written by 2 university of sydney. professors martin just coatings and lisa atkins and another author garrath brown. and it came out last week and it talked about the fact that employment is no longer away to the middle class. that the only way to be in the middle class is through asset ownership in particular property. and they note that that for some reason, this is

a marked feature of the past for decades and anglo capitalist societies. we don't know what happened in the last 40 years. something they say before the 19 seventy's property ownership was only one element of a lifestyle organized around stable, lifelong employment. so the deplorable as in america will say that was the time make america great again was when you had an organized structure life around stable employment. that house price lottery, the luck of the draw, of having like your house price, go up 203035 percent of some cities right now in this past year. and america due to the excessive, huge money printing. so they're saying they're identifying the problem. that is, jobs the longer do it in the anglo saxon economies of the west for some reason, something happened 40 something years ago. the has changed this and work no longer does it. so biden's plan to tax to raise taxes on the wealthy. the rich,

the rich income earners the top one percent of income earners and to tax, you know, some other other things that are not asset related, right? if they could tax income in america at a 100 percent, and you wouldn't make a dance and the death for 20 years. and we know exactly what happened for 40 years ago. it was reagan fatuous and the deregulation and the reduction of the modern derivatives market, which separated labor from the economy in a way that allowed asset speculators on wall street to become fabulously rich, without having the burden of rising wages, which they shipped over to china. also, to help them become fabulously rich at the expense of everybody else. so as the article points out there is an end, again, you can all the collateral eyes the same thing. so many times you can only sell the same, don't it. so many times before somebody figures out that, hey, there's no,

don't it here that's just the whole. and that's what's happening in america are trying to survive on the whole in the don't it. and they're saying, we sold this whole in the don't. 15 times at goldman sachs and we got rich because we got paid a fee on the collateral session of the whole and the don't it. and now the, everybody else america's broke, and they don't generate enough income for us to tax, to pay down the debt that we incurred by deregulation and the rivers training. going back to reagan, now they're out there to love drum. they're like, what do we do? am i point your attention once again to those t shirt, the french figured it out wrecked in lin? 01896 or so this is worth waiting. america. silly. hello for. hello to your new friend out there in east hampton. chopped up. of course i will correct people that the french revolution happened to 1787. not 1890 said yes, of course, little rid of it changed and there the reign of terror happened and like 179293

sort of area. so. 6 whatever, okay, this, this is not a history lesson, this is a financial and economic lesson. so that they've identified the point they're saying basically the united states is like french revolutionary france, right? we've set up a system whereby the only way to have any wealth is the own one of these, the asking not to have a property backed economy. so we have a property back economy. but they point out that this middle class politics contains a built in self destruction mechanism over time. rising property prices make it more and more difficult for ordinary people, even those earning decent wages to buy into it. so i want to continue with this. is that what we're seeing right now, the conflict that the stress, the distress, the unrest in economies in these anglo saxon economies that they point out the united states. britain, ireland, australia, new zealand,

where all these house price, property bubbles are the substitution for what used to be an organizing principle of having of a job to go to that was exposed. the article also points out. during the pandemic, we were all got sent home, and we all got sent money every he got sent money, the bankers got that money. the lawyers that sent money, the doctors got sent money. all the p. p. p loans, all the free money for all these businesses. everybody got enhanced unemployment benefits. and what did we see? we saw a massive, massive increase and property prices. we saw massive increase and, and profits for, for big corporations. we saw the stock prices, cattle pulled up higher. we saw like with huge gap up. so they're suggesting they, they come to exactly the wrong conclusion. like what you should have done with asking now we looked at it instead of doubling down and tripling down and, and quadrupling the money supply. we'll have to do is end the pansy because that's

the only way to stop a ponzi is to end a pansy. so they say that they were disappointed that there's a lack of interest in taxing wealth that they, we need to take that wealth back. we need to seize those church lands again, we need to seize the assets from these people and that we need to introduce unconditional payments or the end game of the new world of asset inflation. so that given more money to just the bottom, like 50 percent, they don't name a number, but given give them more cash to jump on to the scheme of an economy based on something so stupid as a ponzi scheme like this. like you want the asset inflation doesn't build anything . it's not. while creation is just like number go up for no reason. plus is fallacious argument because for example, with block rock,

they own tens of thousands 1000000 brabs residential homes. now that they purchase with free money from the fed. yeah. their own, they say we're going to flood the lower class with money to help them achieve a good some kind of objective. what that is, is simply a cloaked way of saying we need though, bail out wall street again. we had to bail up black rod again. so this is just another chapter in the series of money printing to bail out. this will increase the wealth and income gap and it will increase as the economist calls it, social cohesion risk. i think they're saying is you need to take that asset. so if black rock owns a 1000000 properties, they don't need to own a 1000000, we'll let them on 10000. we're going to take, sees those other ones, give those to the people, or let them buy a bid for it. with the free money we give them. so we're, if they just want to keep the free money going, keep the spigots open,

but just try to push the spigot somewhere else. it doesn't change the system itself . we're in a reign of terror sort of moment where we ok, they got rid of the monarchy, but then what were they going to have? and there was this chaos right until order was restored by napoleon and perhaps that wasn't the best solution. who knows? but nevertheless, like here we're in this moment of like trying to keep that system alive when something else needs to happen. well, something else has already happened and it's called big quite. and i think this sort of story had been revealed this truth about what the economy is. it's set up on a, basically an, a modern not asking yacht system. that's an asi, not economy, right? so it's a nationalizing jewish part of the economy, which is generally what happens also after an insurrection and the harbinger of communism. all right, will be back right after this. don't go away. ah,

ah. so what we've got to do is identify the threats that we have crazy confrontation, let it be an arms race is often very dramatic. development. really 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 to rob is driven by a dreamer shaped bank. concur some of those with there's things we dare to ask

these are the 4 people who pulled the trigger and survive something on survival. one of the hardest things that i had to face was not having a face at a low expectation to life. i accepted accept the fact that i made that we had no fears, general change, pre fashion, 4 shots, different stories behind the bullets. ah, welcome back to the kaiser report, i max kaiser time now to return to lawrence leopard who recently spoke at the gold show in new orleans with the speech about quote,

fixed the money fix the war. all lawrence, welcome back. thank you very much, max. nice to be with the i haven't actually given a speech yet. it's coming in a couple weeks. oh, excellent. all right, well get a bit of a preview. now you are speaking about some money, gold and big going are you will in the space to a goldberg crowd and what do you feel like they are and what are you anticipating from that? i don't know. i suspect i'll get some pushback from some, as i've said in other interviews, i think that there's a part of the gold community. it's really missing and misunderstanding bitcoin. and part of my mission as goldberg, long term, goldberg, and still remaining a gold bogus. to educate a gold people as to why bitcoin is a, it's another quiver arrow in the quiver of those of us we're fighting the central bank judgment pen bombing. so i think their allies, i don't think it's a case of them being a mutually exclusive of a i think when you both in order to take down this corrupt system course, called bugs are well aware of the price manipulation that goes on in gold. and to gone on for quite some time,

central banks on huge quantities of gold makes it easy for them to to interfere with what the price discovery and but you know, instead of complaining shit and called bugs, chest, dump it, dump golden, and join the perfect money me now i'm a coin. i complain if they just they appear to be whining unnecessarily. at this point i hear your point. i said i don't disagree with christ. got a lot of great qualities. i think they both have good qualities and they're different right now, you know, as a, as a money manager and my job is to balance risk a reward for a bunch of investors. some of them are older, some of whom don't like volatility and 85 percent brought out would be shocking to them. so, you know, my view is that a, you know, goal has worked not the way it should be, i would say as you and i both know because of the price depression. but if you look at the last 20 years, it's been up on average 9 percent a year, which is, you know, more than more than bonds or indicate something. it's actually more than a lot of stocks, not more than the triple cues, but you know, it's,

it's the case of what you want to do if you want to be of the absolute fastest risk on asset which is bitcoin monetary asset, which is bitcoin. or you want to be in the slow and steady taurus monetary us, which is goal and goals, not going to be completely demonetized immediately. i know there are people who think it will be and i don't disagree that over time it could be. but i don't think it's going to happen instantly on the notion that goal is that i think is incorrect with a 6000000000 people on the planet. and less than 10 percent of them understand bitcoin, adopting erskin to drive bit points, price higher. but when, when the inflation that i see coming, i'm, i'm believe you see coming as well occurs. they're both going to win. you can win in either place. and so people should be comfortable with whatever they want to do in terms of a sound. my asset, as i say, you know, i, i've got investors to upgrade, you know, bought bitcoin 217000 in the fall of 2018 or 17, they would have, you know, they wouldn't been able to handle it when it went down to 3500 and so there's

a place for both. it depends on what kind of an investor you are, right? well, yet it may just be cleared, bitcoin is mathematically guaranteed to increase purchasing power, whereas gold is guaranteed to maintain purchasing power. so it's a question of whether they want to maintain your purchasing power or whether you want to increase your purchasing power. that's the fundamental question. i grew that. yeah, i mean, so, i mean if you're an investor and you manage money for people, your job is to make people money. so for, for fiduciaries, if the choice should be bitcoin over gold. and if, if, if in fact, you're just a hobbyist and you like to pretty rocks, that's another question. so now you talk about these 2 as being sound of money as a moral issue. all right? so elaborate on the moral issue aspect of this is, i think you would agree with me. in fact, the matter is, the printing money is counterfeiting, pretty money is lie and you know, it's stealing from the working person that the middle class and the lower class and

a lot of the problems that we've seen in the world in the past. you know, since we want the gold standard really and 71, i believe we're driven by the abandonment of some money. and of course, but quite an exist 2008. so gold was really your only choice and you know, honest weights and measures are something that through millennium have been proved to be an important characteristic of how you run an economy. you're run efficiently . and the fact that we move to dishonest, weights and measures when we run off the gold standard. and it's only gotten worse, it's compounded over time and gotten worse. as in my opinion, why, you know, we've had incredible technological development since 1971. and yet it's been enjoyed by the one percent, not by everybody. you know, the fact that matter is the productivity of unequal. ready we share, and the reason for that is the money's on so that i should point out it and remind folks that you are in a rare group of folks and that you are both

a big coin and gold advocate. and you can speak about both. and this is a highly sought after demographic, you know, people that can actually talk about both sides of this debate. so we appreciate that and, and do a great job doing it. and then, you know, we can talk about sound money all day long. what we run into lawrence is that when you talk about morality and money, the other side of the debate equates money printing west morality because you can provide universal basic income. i meant a one trillion dollar platinum coin to rescue the economy. you said, i'm saying so morality for the money printers, you know, they're taking the high moral road. lawrence, well, they think they think they are, but we've got history on our side, you know, back something. the fact of the matter is that every time they try to experiment, like those are the last 5 years, it's fail. i mean, you know, m m t is nothing more than you're maps, theory or state money and journalism. and that's what led to the weimer hyperinflation. you know, they, they, they are telling a lie and you know, for

a short period of time, they can tell a lie and get away with it. because, you know, cheney said that was a, don't matter. and guess what, to some degree, they haven't matter. but it's, it's science law, right? i mean, if something cannot go on forever, it will end. and the fact of the matter is this cannot go on forever. this might printing eventually and becomes monopoly money. we all know that. and it's accelerated. i mean, we're getting really, really close to it now. you know, let me just touch a little bit if you don't mind on this inflation, us transitory narrative. that's trying to shut down our throats. but i found it hysterical it as recently as a few days ago, 923 in the wall street journal. headline, red officials now c, transitory inflation lasting quite a while. ok, transitory last and quite a while. all right. what's that all about right now? you know, the fact of the matter is they've got a serious problem. and the problem is that they're running a punch in,

and they're running it by printing money. and you know, it has to get ever bigger and they have to continue running that steam that they don't implodes so and so, you know, the end point of that is when everyone realizes the running of francis jim rush and locked sam and we all buy sound money, which is, you know, in my opinion, gold amber corps. right? well, we know one of the reasons that they do manipulate the price of gold is to prevent gold from signaling to the market that there's inflation, right? because they want people to think that their fear money is sound money. but now after decades of pulling every possible accounting fraud, entricken the book to hide the inflation by not calling asset price inflation inflation. or by um, recalculating how c p i is calculated or lying about g d p members or shipping america's productivity to china. for example, that worked great for 20 years to hide the inflation. but now they've run out of

tricks, right, that david copperfield, he reaches into his bag of monetary tricks and it's in his got nothing right there . that there's no more trick. so than flight inflation is here, the signal, it's signaling the people that the purchasing power of their paper money is and grave jeopardy. so this sets up inflationary expectations which are self fulfilling. prices go up because people are panic buying. i'm starting to see this already both on the consumer level, but on the industrial level we're here. various commodities. industrial commodities are, are in short supply. and so countries and companies are panic, buying these commodities. what are you seeing? i see the same kind of thing. i mean, shortages are occurring all over the placement here in boston. as an example, having trouble getting a bus drivers for 2 schools and they were talking about premium people from the national guard drive the buses, which i found shocking. and you know, just what happens when you don't,

when you have shortages on your supply problems. just to your basic economics. one, a, one less, the bar prices are going up. and it's, it's outrageous is price is going up. i mean, you know, in the last year owns you're on europe like 19.7 percent. that didn't happen in the housing bubble. you know, the, the, i assume study was out just this morning, month on month the, i assume prices paid report one of 2.2 percent. i mean i'm twitter was kind enough to compile that for us 30 percent a year. i assume price increase, you know, and we've all seen the container shipping. of course, the other side will cite the lumber example as well, lumber, triple that came back. all right, fine. so there are some problems with the sawmills and lumber went up, but the bottom line is, as you know, as i know it is anyone who seriously looking at economic data knows there is inflation raging everywhere. absolutely. everywhere. and, you know, the friend is playing steri fab, right? you know, they're going to taper, oh my goodness, you know, we're going to get this under control. even if they do tape or they are so far behind the curve, but it's insane. you know, i mean, it's going to turn,

it's going to turn, bitcoin is going to go a lot higher goals. going to go a lot higher. and people who have, you know, assets in the sound money category and we're going to make money with childlike cheese. i mean, it's just going to be unbelievable how things are going to get transferred into our can be certainly politicians dictate economic policy. i mean, if i look at what's happening in the u. k. britain and okay, the politics in that country led them to branson and they lost a $100000.00 truck drivers. right dated the brakes. it that the, all the truck drivers went back to the in you and now they're trying to get them all back. right now i'll have that in the space of 36 months, and then they can make deliveries on, on gas and food. so it should. so the, the level of financial literacy and the political class is anna, insanely disproportionate to the amount of power that politicians have in,

in our lives shouldn't. shouldn't politicians go to like economics to want to why and or something at least to learn how to add 2 plus to lawrence? well, one would certainly think and obviously, even if they did make a note better, the promise, the incentive structure. so they get power. i, you know, by wielding power over us and, you know, that's why nancy pelosi can trace ox. and that's why, you know, even fred recently, i mean are those are the important part of the soul narrative max, i'm sure you're, you know, focused on as well that, that is really starting to lose credibility, right? they got a serious problem and they had 2 guys insider trading just had to resign. i mean, it's, you know, things are coming fast and furious now and, and, you know, as you say, you know, it's, it's a cycle. once you know, one guy sees prices go up, you want higher wages, then another set of prices go back, i want higher wages. i mean, this is, we have got a serious, serious place from. it's going to be much bigger than anyone ever imagine. and i

can kind of remember this because i was a teenager in the seventy's and i remember the issues. i mean, it was, it was amazing. i think the price of everything just went up relentlessly. and i had the next, you know, 10 years going to be the 70s on steroids. oh, exciting. the 70, i will talk about that and another segment. thanks to bring on this part of the guys report. all right, that's going to do for this edition of kaiser report with may max kaiser and stacy herbert want to thank our gas lars lap hard and dental next time bio ah imagine picking up a future textbook on the early years of the 21st century. what are the chapters called gun violence school shootings, homelessness? first, it was my job and it was my family. didn't was my savings. i have nothing. i have nothing and it's not like i don't try. i look for resources,

i look for jobs. i look for everything i can to make this pass and i in of doing passing road to the american dream paved with dead refugees. it's this very idealized image of this older america, native americans look past the deaths that happen every single day. this is a modem, history of the usa, my america, r t l. look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law show your identification. we should be very careful about on personal intelligence at the point, obviously is to race trust rather than fear a very job with artificial intelligence. real summoning with

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