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hi, i bax kaiser. this is the kaiser report. you know, fax or a fax and some times there just easy to see and sometimes they're not. hello, i'm max kaiser stacy right. the fact is, this episode is going to be amazing, right? because 1st, i do want to call attention to some information that came out in the past week. we haven't had a chance to cover until now, but it's really important and it fits with basically our coverage for the past 10 years. but especially the past few years as we are in this money printing money, printer go borrow error and the wealth and income gap is causing. and you could see that in the federal reserves own data. and we keep track of this every quarter or 2 quarters. whenever they are publishing the information with

a real shocker. so ouch, america's middle class now holds a smaller share of u. s. wealth than the top one percent middle class financial security has eroded and past decades saw their combined assets drop to 26.6 percent of national wealth. while the top one percent wealth jumped to a record 27 percent of total. so this pink line, there is the middle, 60 percent of americans, and as you see, their wealth has declined from near 40 percent down to just 26.6 percent. and that's the top one percent. and as you see, their wealth has climbed and climbed and climb, the more the money printer goes bird. this is during the financial crisis, the beginning of it. and you see that the money printing has definitely helped the top one percent the most. right. so it gives rise to the i question about

these crises and who's behind them. we had the subprime crisis that resulted in mind. the printing that made the top get richer. we have the cobra crisis, which has resulted in the top getting richer because of all the money printer. and we had a war and afghanistan go on for decades, which resulted in money printing in the top get richer, you know, and, and then you can get into the other, you know, into some other areas as well, really making some hard, making hard questions. so that needs to be emphasized because when you look at the mainstream media, they try to portray these financial outcomes as somehow being organic or natural to the, to the nature of, of markets and to economics to capitalism. but that's completely false. this is a story written by thieves to benefit thieves and unfortunately in america middle

class, even they're going to get wiped out and they won't have any recourse. what you're saying is that, you know, obama, remember when he inherited this economy in the financial disaster of 2008, 2009. what he said is we need to look forward not back. i that there would be no justice for that crime that happened. and so therefore, it never got fixed. there's no incentive to fix the problem. if the elite who run the institutions who run the media, who present them news and tried to explain to the population, what is happening, they're always going to have a sort of excuse. it's outside forces that are the responsibility that they are causing the problems domestically. it's not the money printing, it's outside forces. it's not us the li, just not the media. it's not, you know, if they're all making 101520304050 1000000 dollars a year as a talking head on one of the news programs to tell you what to think. are they

gonna care more about somebody that they themselves deem a deplorable who's making $50000.00 a year out in iowa somewhere? are they gonna care about their friends who's making $50000000.00 a quarter in manhattan? they're gonna, you know, they're going to be more kind in their interpretation and explanation of what's happening in the economy and what that data shows in that chart. they're gonna find an excuse. they're gonna find a way to, excuse their friend, right? right. and it's not a victimless crime, it is they would like us to believe. i mean, people are dying, obviously 90000 opiate overdose as a direct result of this type of wholesale thievery. i mean, imagine living in a country where arsonists for every house they burned down, the central bank gives them 10 new houses. very nice, the country we live in is called america. well, certainly they would be the biggest property owner, by the end of their crime spree was called black rock. the biggest property owner in america bray. and i want to turn now to another story because when you know the

money printing goes to the top, they get a 1st 0 percent. they get to buy the assets. that all the, the continuation of the money printing increases the price of assets, increasing their wealth, but inflation heads and inflation hurts the working class the most because they're living hand to mouth, they don't have that much money left over to save. and when you're meager savings, you have is eroded to inflation. you see that in this data coming out of germany. good morning from germany where inflation pressures keep rising. germany's wholesale prices jump, 13.2 percent year on year and september versus 12.3 percent in august. this was the highest monthly annual rate of change since june of $974.00 after the 1st oil crisis. from august 2021 to september, 2021. wholesale prices rose by 0.8 percent month a month and you say the parabolic move right there. and yet it's looking like back

then it was an oil crisis. we're having a similar situation. we're having a money printing crisis, right? the temerity or the arrogance of the money printers is that the inflation that they knowingly create can be controlled. right? history tells us that you can never control it. what are you talking about? the crisis of the 7 days after nixon close the gold window or you go back to why mar germany or you go back to talk about zimbabwe or venezuela ran or now turkey. when you print money at that speed and no one ever stops printing money. and it's shocking that germany is falling into the same trap that they fell in during why mark germany as if they learned nothing from these years over there at the c b. and then the outcome is guaranteed to be the same. the rise of ideological

psychosis. well, you mention venezuela, zimbabwe, ram, of course they were also part of their inflation. hyperinflation is it's a political event. hyperinflation is a political situation, and they were subjects of sanctions, regimes. so in a way you kind of have seen that since 2008, there's been sanctions regime essentially money flow to the bottom, 99 percent. that they, they've been cut off from the liquidity of the global financial system. all that money printing. we've had a little bit of a fiscal printing and the past year to, and that's a unleashed the, the, the inflationary gates. but also we have the locked down in the supply shock is essentially like a sanctions. you're being cut off from supply. and we're seeing that, you know, as we prepare for christmas, every thinking are you starting to see christmas decorations, everywhere in christmas lights outside people's houses in the neighborhood. and

what we're seeing here, this is a pretty shocking story in terms of this sort of, you know, neil feudal system where these like very, very fabulously wealthy. and i don't think these charts really capture that of the one percent versus the 99 percent. it's like of the chaz, them between them. the chasm is like widening. so, shockingly biggest u. s. retailers, charter private cargo ships to sail around port delays, home depot, costco, a wal mart resort to private charters, and a push to stock shelves for holiday shoppers. so this is from the wall street journal. the important thing to remember that small and medium sized businesses can't compete with that, right? so not only did the banks get bigger, the big banks got bigger since the financial crisis, thus tightening the screws of the sanctions. essentially on credit and liquidity to the ordinary person, because they don't want to deal with a deplorable with, you know, $10000.00. so their name,

they want to deal with the elite with 10000000000 to their name because that's why they don't have to get out of bed and work for that right here at the same thing. it's like they these, but the money printing went to the ordinary person and they're spending on all these durable goods. there's, there's a supply chain disruptions all over the world because a lot downs. and now the biggest of the retailers need supply for christmas. so they're chartering their own container ships and going to get the goods and then bring them to smaller ports. i like, you know, new york in long beach are all like there's a 6 week long lines or 10 week long lines to get in. so you're not gonna have supply for christmas. the small and medium sized enterprises aren't the small retailers, the big retailers. they're circumventing that right in the cost goes in the wal mart to charter, their own container ships to move goods from asia to america. of course,

that's very expensive and you would normally think that that would hurt their earnings. but because the money that they're using to charter, these container ships is borrowed from the central bank for nothing, they get their charge 0 percent interest and their earnings are not impacted as you and as you point out. but as i'm honestly, they're buying back their own stock with the same 0 percent interest. so it actually is a creative their earnings go up simultaneously. all that money printing is trickling down to the bottom of the economy in the form of inflation. stuff cost more. so this is an example of capitalism as we understand here in america, at the 2021st century, blowing itself up because the inflation trickling down to the people are supposed to be buying. the stuff will get to the point where they they, they can't, they have to borrow money, 18 percent. they can't borrow money at 0 percent to buy the stuff. this being

manufactured was borrowed money at 0 percent. so that's the interest rate apartheid . so at some point, when it becomes clear that there is a permanent underclass of untouchables in america, 200000000 of them, they can't afford food or energy. that's when things get really, really dicey. i'll go on the international level. yes, there's a domestic situation. yes, there's a domestic civil war sort of story that's a cultural war. but globally, i remember even the poorest that americans are the wealthiest of the world, and they're getting loads of free money and they're spending it. and that's part of the global supply chain disruption. they don't have to work because i have a lot of money. they have stimulus checks, they have enhanced unemployment. they have these child credits coming in now too. so there's a huge man there consuming, a huge amount, and that is what was brought up by the ceo of marsh. right. the one of the biggest shipping container companies in the world he'd contradicted what j. p morgan's,

jamie diamond said, jamie diamond said, yeah, not only is inflation transitory, but this supply destructions are transitory. the marsh guy, the ceo said no, that's not true. in fact, well, this shipping crisis will continue until demand flows down because there's way more demand than ever before. and that's why it's taking 80 days now across the pacific . you know, china to the west coast of america is the most important of the shipping lines. it takes 80 days now versus 40 before the pandemic. so you have the pandemic, but demand. and also these, these giant companies like costco, like wal mart, are spending twice as much of cost twice as much per container. and more. it starts at twice as much to ship versus the old pre pandemic price, or even those who are paying for the slow delivery right. i go with the shipping magnet is saying, but referring to the original chart, the concentration of wealth amongst the very top,

because of this uneven distribution of free money is leading to global insurrection against banker occupation gilbo. as we've been saying now for 10 years, we, let's take a break. when we come back much more coming your way. ah ah. oh. is your media a reflection of reality? in a world transformed what will make you feel safe?

isolation or community? are you going the right way or are you being led somewhere? direct. what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. ah, welcome back to the kaiser report on mac taiser time now to turn to nick jam. bruno is an independent analyst of all things, geo politics and economics. nick, welcome back. a great to be with you max. of course next, whenever we chat, i think back to when we 1st met in beirut, lebanon many years ago,

almost 20 years ago. i suppose a got to talk about a lot on because i see images of armed conflict on the streets. you are a long time resident in bay route. do you have any insight into what's happening there at the moment? running gun battles, banks being burned down as hyperinflation? hit savings. what can you tell us? yeah, there's a lot of, lots on what happened recently is the lebanese experienced a rug hole, financial monetary rug hole. i mean by that is a, you know, i woke up a while ago to find that their savings were locked in the bank. they couldn't access their life savings, the currency experience, hyperinflation and it's a mess. and you lear that on top of all of these other crises, i mean there's sectarian tensions, regional tensions lab and on is in deep trouble. but there is light at the end of the tunnel here because what has happened is that it has spurred in interest in big

coin among the community there. and that could really help the people of 11 on get out of this mess. if they really look to that and look to a form of money, that is not, you can, nobody can inflated it's totally resistant to inflation and allows them to interact with the outside world. also, i might add to is that the u. s. is involved in this as well the us government because they're not too sure they're not too fond of this. the lebanese government makes it up. and so they've been turning up the sanctions turning off the dollar flow. i mean, it's really credible how when the u. s. one to pressure a country, they just turn off the flow of dollars and it can really messed things up there. so that is definitely an ingredient there too. and that's why pick question important because it bypasses all this bad stuff in love and on. so we'll see what happens. you know, we, you and i and stacy spend some time there. of course the 15 on those are mutual

friend who wrote, you know, the bible. i'm going to be standards from there to. so this is help us for a not insignificant community of big pointers there, and that is that is a genuine raffle. now let's talk about a place in the north atlantic. it rains there a lot, and they've got a central bank. the 1st central bank chartered in 1694, i believe the bank of england, yes, the bank of england policy maker over there is one of the big coin could trigger a financial meltdown. does this sound like the sort of blame game you might find somewhere like argentina, whenever they default on their debts by blaming others? what's going on, nick? yes, it's. it clearly is the sign of desperation. i mean, on the one hand, these folks, the central bankers are disparaging, big spent years disparaging bitcoin calling it names ad hominem attacks. so how does that all of a sudden, magically go from this online thing that they don't understand that they're making

fun to an existential threat? the central banks? that's a pretty big jump. i'd say that's kind of a capitulation in there. do you think so? yes it is, and he's not wrong. bitcoin is a threat to central based and central banks deserve to be threatened because what they're doing is perpetrating as you guys have well covered, fraud of historic proportions. so excellent. so, and if he wants to try to take on big point, good luck to him. good quinn will not be harmed in emerge stronger. but yes, it does threaten central banks. and it's, it's, it's interesting to see them really for the 1st time, explicitly recognized that right, the bank of england died. it just hasn't been buried yet. and the whole banking establishment is going through the 5 stages of grief. i believe the 2nd one is anger. soon they will be dealing with trying to make some kind of trade offs with

coin. then they're going to actually capitulate as you say, this is the process. everyone goes through. it just so happens it outside the door because it's run by the george washington of the 21st century. mister president kelly got to the promised land 1st. and because going back to this all region in the latin american region, argentina, which is a country, you know, very, very well they've, how are they currently on their what 18th or 19th default nick? oh it's, it's, it's, you know, i've lost track of counting, but you know, something interesting about argentina. it's because they've had so many financial run polls in there in the living memory. people don't trust the banks, they don't trust the currency. it's actually very fertile environment for people to learn about big points. i spend a lot of time in argentina and the people here just the regular people are more receptive to it and in any other country i've seen. and i think it's because of

these experiences. they've had also and manifested itself somewhat into the political situation too, because there was a recent primary here where a candidate who explicitly wants to abolish the argentine central bank and abolish the p. so, and let margin tines use whatever currency they want yet, 3rd place in like 13 or 14 percent of the vote in the primary and this guy is rising fast. so this is and you didn't get, you got support among, you know, kind of a poor community across all areas, but in particular that kind of the who generally generally don't, wouldn't go for this kind of guy. so this is a very interesting development. and if he gets closer to power, you said he explicitly wants to abolish the argentine central bank and let, let any kind of free market currencies compete in, you know, you and i know who's going to win that competition. what's the best money that human company and kind of ever known?

it's big point. of course, if you're going to let monetary competition, bitcoin is going to win just like a lion know, chases after the gazelle in the african countryside. so something very important to watch here. in argentina, yeah, the all the central banks, whether it's a bank of england or the fed or bank of argentina, they think that somehow big coin is triggering a crisis, not understanding that big coin was a response to the crisis. the crisis was central banking. the coin is a res caucus says right there in the genesis block, a transfer on bird of 2nd bail out for banks. it makes direct reference to central banks, malfeasance and crisis. so, but you know, they'll learn and they'll get the price they deserve. you know, they don't want to buy big one and half a 1000000. they don't want to buy a 1000000, they'll stumble in a 2000000. god bless them. now j. p. morgan and jamie diamond are probably the poster child for big coin. idiocy recently reported that their institutional investors are buying big coin rather than gold as a hedge against inflation. so neck, this is

a growing talk to talking point is that, you know, people are now actually beginning to recognize that big coin and not only kind of competes with gold, but it does actually, it's actually vastly superior perrier to gold. and what's your thoughts? yes, now lots of impacts here. first, it's another remarkable capitulation opinion. and g, p. morgan in these banks, they live off of the easy money system and why? you know that that's, that's how they get their wealth is through that whole system. so for them, they've gone through another dramatic in opinion after years and years and years of experience and be quite mocking bit points promoting false narratives, this block chain, not bitcoin nonsense. now they're taking this point of view that it's a while it's competing goal. that's a, that's remarkable will notice that change opinions and i don't think that, you know, i think they're being forced to do it because they wouldn't, you know, right. we saw what they did in the previous years,

living forced to acknowledge reality. but know it's very important because most people don't think about what money is. it's incredible. you have billions of people on earth and how many of them really think about like, hey, what is money? what makes for a good, i mean, just the basic stuff. and it is. so that's why you have to look at golden big point in the 1st understand, what is money? it's not complicated like you don't need, you know, to go to college. it's very simple. anybody can grasp it. money is something that's useful for storing and exchanging value. that's really all it is. it's nothing complicated. so you don't need to understand all this jargon that is just there to really obfuscating confuse people. yeah, definitely like jamie diamond. i mean, you know, he went on the news recently sounding like some drunk long sharmen talking about it a big good in them out to read them to. so i put it in my pocket, but i smoke it and i fell into. what am i, who am i, what is this a bank? i mean, he started, it sounded like he is ill. he's so stupid. i should be,

should be hospitalized. but nevertheless, good. god bless him because he's only going to make the price go exponentially higher. thank you. very much jeremy. now we've covered goals for nearly 20 years. you know, nick, we've been talking about gold. and one of the things that comes up in the gold community is that, well, if only they stop manipulating the price, it would go higher. why don't they just admit that there's nothing going to stop the manipulating the gold price and just by bit coin, nick? yes, and i think, you know it's, it's an interesting point because in the past year governments, the u. s. government has printed more money and they have all of their history where they're printing $120.00 something, $1000000000.00 a month. they printed $3.00 to $4.00 trillion dollars since the started this hysteria that's, that's the most favorable monetary environment for gold that has really existed in anybody's lifetime. and what is going on? it's basically flat in the most favorable environment. it's had in anybody's life

time. that's incredible. so yes, and we'll look at that point big coins up, 567 x in the, in the same period. so, yeah, it goes back to also what we were talking about looking at the monetary attributes of golden bit. and i think it's to condense this down to the one single. most important monetary attribute is hardness, people don't understand what that means. so we kind of package, hardness doesn't mean something that's tangible. that's physical. it means hard to produce. that's what hard money is hard to produce, easy one is easy, easy to produced by contrast. now gold has always been the best form of money in the past because it was the one commodity that was the hardest to produce. and you can actually quantify hardness. it can be measured, hardness can be measured, and you measure that was something called the stock to flow ratio, which is you look at how much of the supply, how much, how much of the new supply is relative to the existing site. if that,

if that new growth is small, that means that it's not an easy thing to inflate. hardness can also be thought of as resistance to inflation. so that is, in my opinion, all the other monetary attributes are secondary of secondary importance to hardness . so you can quantify that good stock to florida ratio is about 5859, something like that. that means it takes about 5859 years of current production to equal the current stock. it's not easy to do that to go one commodity most resistance to that process. now you look at bitcoin, bitcoin as a start to flow of up here it's, it's about the same. it's about $57.00 ish. i mean it's very close to goal. so if you look at the most important monetary attribute, bitcoin is neck and neck with bold, but in 4 short years, there's going to be a quantitative hardening, a having what i like to call, quantitative hardening. and then bit coins, hardness is going to be double that goal. so that's the most important factor to watch it make jan brown now. thanks so much being on the kaiser report. thank you

max. i'm not going to have that as addition of kaiser report with may max kaiser and stacy eric want to thank our gas. thank jambo. now, do you want to catch us online? do sounds on i signed by you all? ah, ah, who all those driven by dreamers shaped by center some of those with there's things we dared to ask in when i seen black and i was growing,

young black american spoke to me when why destroyed you did not have to cite black mulash magic is a movement we are importing from america. no, nothing of who we are. i lived in a world where white lives mattered. and i was not wide like was noon. and i wasn't known from black america. i learned how to speak back to whiteness. aboriginal people here law every day. we're out with no, was it the police were out moves 2 seats. i'm scared, but more children are gonna grow up in the country that think says no racism, but they're more likely to end up in the criminal justice system than their other fellow friends in daycare

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