oh, i am ash kaiser. this is the kaiser report. you know, we've been talking a lot about inflation. deflation, stagflation, dis, inflation and hyperinflation. water flattens out there. stacy right, hyperinflation is in the news, but in my own day to day experience, i've witnessed hyper shrink please. oh, yeah, yes. you know, last sunday we were out having brunch and i ordered some accardo. this is what came to me. that is not an avocado i could believe in, that is a hyper shrink flacier. i would call that that's a minuscule order of a condo. then it was a direct slap of the face. it was a direct indication of what's happening out there in the economy. prices are just going up and people are hiding it by serving smaller portions at the same prices. we've seen this of the grocery store with packaged goods packaged cookies packaged

toiletries like tooth paste, and mouth wash coming in smaller packages, but the same price and people haven't noticed it, but things are getting out of control. this is hyper shrink lation. hopefully we'll see a hyper shrink lation and some of the population we have quite a large size, but nevertheless, i was pretty shocked by this. but of course, you know, hyperinflation was in the news because a, c, e o, actually said this, you and i have covered it on kaiser report. this hyperinflation, michael burry brought this up. he's a hedge fund guy who made a big amount of money on a big short on the u. s. housing market back in 2008, 2009. but he recently had said that warrant of hyperinflation and looked at out weimar, germany as an example. well now, jack dorsey, you know, last weekend as well, while we were suffering from hyper shrink lation. he was, he must have seen my tweet because that's what he inspired him to tweet. hyper

inflation is going to change everything. it's happening that triggered many people. yeah, it did because these words, inflation, deflation, dis, inflation shrink. lation are all kind of misunderstood and misused. now to be clear, hyperinflation is a political act, it's in words, inflation, as of more of a monetary fact. so, hyperinflation is when loss in the currency evaporates. so in venezuela or in y mart, germany, or in iran, confidence in that money disappears and literally plunges. we're seeing it in turkey as well. the us, of course, having a world reserve currency you would think is immune to hyper inflation. but they have done such a poor job over at the central bank of the treasury department and in the white house itself over the past 20 years. that it looks highly probable that confidence in the us dollar is about to completely evaporate. so purchasing power for that

currency is about to crash down toward 0, and there will be a blame game going on that it wasn't their own actions of excessive money printing . it wasn't their own actions of turning your money. the us dollar was a world reserve currency. it was the settlement layer. it was the world's money, based on us treasury's base layer money. they turned it from money, which is always fungible. money is fungible. they made it a non fungible token, by pulling around off the swift system. therefore, it was no longer fungible. that meant it was, it was inevitably over this moment was coming from that. that day that you decided to win the battle by losing the war. that happened, yellen says, i don't think we're about to lose control of inflation. this came just like 36

hours after jack dorsey had triggered a huge conversation about hyperinflation. so janet young, the treasury secretary of the united states in charge of maintaining the value of the currency. she comes out and says, you know, officially denied that right? the verbiage and rhetoric that came out of the treasury and central bank during the 1973 period in america right before a massive inflation hit is almost verbatim what we're hearing today. the big difference being that the inflation of the seventy's was trying story, genuinely, transitory because america is being held hostage by the oil producing countries. but this is actually structural inflation. and in fact, hyperinflation, this is when confidence in the currency evaporates and there's no way to put the humpty dumpty back together again. once it falls off the wall, it's cracked and you cannot reassemble at once you lose confidence, you know, took 240 years for the world to obtain confidence in the us currency. and it only

took really 18 months for to be lost. well, you definitely know that we're hitting hyperinflation when we replace our flowers with in oregon, me of us dollars, 100 dollar bills, right? we're going to start to having to replace these. yeah. first we'll have a cactus. you know, that's the way that you can mitigate your floral costs. and then you go into origami paper emission concoctions of meda paper money for flowers. not only did the treasury secretary yellow last week and she said ok, we're not about to lose control of inflation. and at the other side of her mouth, she said, we're going to start taxing unrealized gains for the 700 billionaires in america. so recognizing that inflation is happening, inflation is driving up stock prices. inflation is driving up asset values, but there's no way to get it because it, by the way, the velocity of money is what we've identified long ago is, you know,

you think elan mosque is going to spend any more in his day to day life today when he's worth almost 300000000000 versus when he was only were 3000000000, there's not going to be that much more. so how do you get that cash to just sitting there and doing nothing right. well, they're going to start taxing all those gains. the stock prices soaring, and i wanna point to something that adam back who is quoted in the white paper, the bitcoin white paper. so he's a cipher punk and a coder. and what he said about this plan to tax on realized gains. the insanity of this is not fully appreciated. they create the inflation debasing your savings. and then if you somehow manage to cling on to some of the value by taking on investment risk, they then propose taxing you on the so called gain, they directly caused by devaluing the dollar. and it's, he goes on in a 2nd,

tweet is actually worse than a wealth tax. think about it. as the dollar hyper inflates, they can take more money even if the investment standing still in real terms. or even if your investment is actually losing money. but losing less than m to monetary expansion inflation rates. so, i guess this is what they're learning from weimar germany, looking back out what happened during weimar germany is those who bought assets in those who borrowed it by assets. the industrialists saw this hyperinflation coming . they, the industrials who ran the economy, started to lose faith in the value of the white smart. and then they started borrow against it and by assets and they won. right? so the treasury is looking at this and saying, we're not going to let you escape. are due to plan, right, right. it's a speculative attack that they're worried about. and this is exactly what michael sailor micro strategy figured out. he can borrow at these incredibly low rates of

bi bitcoin and he's already made billions of dollars unless an ear doing exactly that. now he's bringing in other ceo's other countries like el salvador, figured this out, other countries will figure this out. i think that's the bigger story here is that janet gallon and j pal over the fed don't control the global economy. so america may opt out of having a viable currency by imposing this absurd tax. but it just means that the dollar is going to crash. it doesn't mean that big coin is going to crash. that goal, it's going to crash. that it's going to help it going. because confidence of the dollar when you have policies like this that could have been arranged by bernie made off. this is like having bernie made offer on your treasury. it's a ponzi scheme. and what the reaction is going to be a flight to bitcoin. so you know, bring it on. i'm happy, however likely what they would do when they would determine your gains for the year

on december 30. first. those same 700 people own the vast majority of the stock market. do you think the stock market is ever going to end on december 31st? in game, no, it's going to go down. they're going to make money off it by writing those unrealized losses off of their taxes. and then things will resume back to normal january 1st. so that's, that's all that's going to happen and then they'll have to go after the job bag don't as the next 700000 people, right? they print money, it ends up in these assets and they say the way we're going to claw back that money that we printed is to tax on realized games. but of course, if they're truly interested in stopping the madness, they would stop printing so much money. that that's the root of the problem. obviously, i think anyone with 3rd grade education would say that that's the root of the problem, but since it's a ponzi scheme, you can never stop the flow of the base layer that feeds the ponds, the pyramid. so this is an admission, in fact that this is nothing more than

a ponzi scheme, and it just adds to is a flight out of the dollar there. there's literally like watching a country commit currency aside, which is remarkable there. but i guess why more germany did the same thing, they actually just committed financial suicide. and of course the great britain did that with brags it. they committed financial suicide. so very happy. but let's turn to the story of the hyperinflation on the and what you're seeing, an actual signals being sent by the people. obviously signals price signals are being destroyed at the federal reserve level, but with the individuals are doing with all this free money being sent to them is mass consumption. they're buying anything they can get even used. cars are going up and price the worth more sometimes than the new cars, because you could at least sell them. there's a price being determined. they're sending all those that free money over to china, china's buying productive assets here. owning more and more of the world, by the way, now china wants to get back into bitcoin,

minding now that they see that hold their depreciating value of that. but it's causing a supply crunch and the entropy of the end of empire days. you see it as a result in this headline here. charlotte county utilities department calling for voluntary water conservation. so this is a county of a 188000 people in florida over near sarasota gulf coast. and it gets the vast majority of his water from the peace river. minnesota regional supply authority, they've got 2 treatment plants down and they can't get the parts they need in order to pump the water south. michael coast manages the district water supply and said capacity is down and demand is rising, demand is rising, everybody's got free money, they're all working from home. they want to drink more than one shower. more of that got pools. well, apparently the parts are and ships hanging off the long beach ports and i can't get the water to be cleared for distribution to homes. right. great,

great point because ok, they want to collect more money. the government does. and so can do with the money a they're going to put into infrastructure like cleaning water filters. and charlotte. so people don't die from drinking arsenic. the late who did waterloo water or be they give it to speculators who are speculating on assets. you have margin calls because they're over and dead it or they do with the money they're going to collect. they're going to over to the speculators. none of the money ever goes into infrastructure. none of the money collected by u. s. government ever goes into infrastructure. ok, that's not what american government does. like nancy pelosi and senate in congress and j pilot, the fed, a central bankers, they trade of inside information provable, now documented. and they make 1000000 lots of money and there can tap to the american people, makes marie antoinette. look like mother teresa. all right, we're going to take a break and when we come back, much more coming your away with join me every thursday on the alex simon,

sure. but i'll be speaking to guess with the world politics school business. i'm show business. i'll see you then mm 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 our personal intelligence and the point obviously is to race trust rather than fear . a very job with artificial intelligence, real summoning with a robot must protect its own existence with

a ah, welcome back to the kaiser report, i max kaiser time now to go to tyson slokum of public citizens energy program. tyson also serves on the c, f t. c. energy committee. energy is big in the news as the you and climate change summit opens tomorrow and an energy crisis in the form of storing oil and natural gas prices hits economies globally tice of the stock on. let's start with the u and climate change summit. com, 26. as a, somebody kicks off tomorrow, glasgow, should we expect anything more other than the same? well, i mean, i think it's great that the united states is back engaged with the rest of the

world as you know, the by the administration reverse course from trump and re entered the parents climate accord. and so the biden administration, with john kerry and others are going to be at the table, pushing the world to try and move these negotiations along. i don't think that these meetings are going to result in anything earth shattering, but just the fact that the united states is re engaging and continues to prioritize action on climate at the regulatory legislative level. means i think that there's hope for the planet that we don't destroy yet that the world is the least engaged in trying to figure out a global solution to, to climate change. let me ask you this. what came 1st? money printing out of control or the global climate change crisis. i think about the same time, i think they both were sort of bare with dr. revolution and the burning of fossil

fuels to meet all of our energy needs. so i think it's an opportunity to baby address both problems at once. what do you think you know the, that the idea of this e s j, which is re branding of corporate social responsibility and climate space seems to be just cash in the print. a few more trillion dollars and then my excess of money printing results and mal investment, including the 30 percent of all the energy producers wasted. because the companies who use energy are not incentivized to use it efficiently. so we're rewarding the worst amongst us. it seems like comp $26.00 as a festival of mal investment. i don't know if i would characterize that way. i think that global climate change requires a global solution. and so i think it actually is productive and important for world leaders to get together on a regular basis and figure out a way to comprehensively address the climate crisis. but yeah,

i think individual nations commitments, i think are going to be a little underwhelming. i think this is just sort of the 1st step of many needed steps to get to where we need to go. 2 months ago, us president joe biden called on saudi arabia a pump more oil in order to lower prices for us consumers. and yet this weekend, we're supposed to play that by actually wants less oil pump. you see, i'm saying here the seems to be a bit of hypotheses. yes, i agree that there's, there's some hypocrisy here, especially when he didn't address the domestic situation. the united states, oil and gas industry over the last several years as completely reoriented itself away from prioritizing investments for domestic consumption of fossil fuels. ready and towards the international export of us produce gas and oil. and so if you look at almost all major us oil and natural gas infrastructure investments,

they're designed to prioritize ex, sporting those fossil fuels out of the united states. and so those rising levels of export, right, we're now exporting about 10000000000 cubic feet per day of natural gas exporting several 1000000 barrels of crude oil every day and plus millions more of refined products like gasoline. this is all having an upward pressure on domestic gas and oil. ready prices, which is hurting consumer. so if, if biting was going to be serious about addressing the price crisis and the, the climate crisis, he would be taking steps to limit more ban us fossil fuel exports. right. well, you know, the price of oil is going up just like all commodities because there's so much money printing. they're floating the system with so many dollars. you know, why don't they adjust the problem? i, i don't understand why. i don't get it, man, you know, these people are obviously frauds. they are just printing the line. they're on

pockets, and they claim to be concerned about the climate. but they're not, they're clearly not. they're not. how can anyone believe them, tyson? well, there is a credibility problem with, with the federal reserve, as i'm sure you know, there's, there's a lot of scandals and there's a serious push to not extend the chairmanship for power. and so there's a lot of keep right now on the bed. but i think that we've got to put some sheep on limiting us fossil fuel exports. and by didn't, has that clear authority. i helped worked on the 2015 law and there's provisions in there. all biden has to do is say that there's a problem with the us oil exports and put a notice in the federal register. and we can take steps to start to limit or crude oil exports. and the same goes on, on natural gas, all of be natural gas export authorizations. include what's known as

clawback. clauses that allow the department of energy which authorizes elegy exports to clawback authorizations of those exports if ah, unexpected or severe changes occur like climate change or rising prices or physical shortages like we saw during the february winter storm. so all of these things are a clear indication that we've got to limit or stop our fossil fuel export food. you know, i know i do a lot of research and near crunching numbers there all day long. let me ask you a question here because i have no idea what the answer is. i'm. if you've done any work on this, but when a rental car company, i believe it turns order is 100000 cars from tesla electric vehicles. is that a net positive? i don't know, i have look at the details of this. but the climate crisis is not going to be solved by swapping internal combustion engine pulling powered vehicles with

the same number or more fully electric cars. it's not until we change modes of train of transit to get more mass trends and investments. are we going to see meaningful change on addressing climate from the transportation sector? so i'm not, as i mean electrification of individual automobiles and trucks plays an important role in d. carbon is ation, but it alone is not going to be the savior or the solution we've, we've got to re invision transportation to have a lot more efficient, mass transit. ok, so lick documents before this comp event show, the saudi arabia, australia, japan, have been lobbying the un to play down the need to move rapidly away from fossil

fuels. so what's not all about? well, it's nice to know that you asked isn't bill and number one in global climate talks, but what's going on here is that, you know, vested interest whether be the saudi national oil company or significant poll and natural gas and trust and australia are continuing to be relevant in the face of this change to a di, carbonized future and, and playing a very influential role in a number of key countries to try and slow down the commitments. but we have to remember at this point, the paris climate of ord was an all voluntary set of commitments. that's why the president obama negotiated it never had to bring it up to the us senate for ratification. the constitution requires all for entreaties to be ratified by the united states senate and paris. paris climate accord wasn't the treaty because

there was 0 binding commit. all you have to do is voluntarily and publicly commit to a, an emission reduction scheme. and then if you fail to do it, you're publicly shane by having other leaders, wagner fingers, but there's no sanctions or other financial or regulatory penalties for non compliance. and so, so we do have to understand that right now, these international commitments are really just sort of, you know, they're, they're not binding. and so in order for us to have really affective international means to address the climate crisis, i think we've got to put a lot more meet on these international agreements. right. well, in the meantime, however, bitcoin is incentivizing stranded claim, jail thermal energy to be captured in one of the poorest countries on the world el

salvador and converting it into hard money. what lessons can we draw from this? well, i think that the, the bitcoin and crypto mining industry is sort of learning a lot from big tech companies like google of microsoft, that we're building energy intensive servers to power the internet. and they recognize that those servers were contributing to climate problems and committed to renewable energy and other sustainable energy resources to power those data centers . and i think the, the crypto mining industry is doing very similar things here, where they're recognizing that using all the servers does use some energy and making commitments to power them in more sustainable ways. we're seeing it with talent energy, which is a nuclear power plant in pennsylvania,

latching that nuclear power plant to crypto mining, like you said, utilizing all sorts of industrial processes that are capturing wasted heat to power these facilities. there's a whole host of things that crypto mining can easily do to reduce the climate impacts of its operations. right? but there's another part of this. they the president, the company. locality is openly mocking the i m f on twitter and about the loans and the colonial zation that's been going on from people like the un and the i m f and the world bank and all these huge groups that same obsessed with climate change . but they're replacing it with real money, hard money. so in, so the u. s. gets off money. the chances of solving the, the climate crisis is 0. i would give it a big fat 0 because you can't solve the crisis with,

with fake play money type. why i don't know if i go that far, but there's no question that i can play a productive a role in the financial system. and i, i don't necessarily view of crypto mining as a problem for the climate like others. right. well, it's not a problem for the climate, it's, it's, it requires 110th of one percent of the global energy output to secure and hard money for 8000000000 people potentially. so it, your overall global energy usage would be cut at least in half if their folk i'm just saying if they were serious they would adopt big coin mining as the go to model to cut global emissions. right? that would be the serious thing to do at this point because the data's in, but they're not anyway, we're going to, we're going to carry this over to park to thank you for being a report. always great to be here back. thank you. all right, not going to do it for this additional because report with me max kaiser and stacy

or thing. i guess tyson slocum, until next time bio. ah ah ah. he died. i cried. i just had slapped the whole time out there. no one really thought anything different, neither saw that. i just don't feel good. on the way. for the surgery, his lungs failed. 30 jackets. when i killed him, i had gotten stuck with so many needles that day. in 2019 doctor started talking about a new wide spread disease that caused severe lung damage. there's

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