with the people of our salvador happy everywhere you look. busy hanging out with the president, with ministers, cabinet ministers, they're down here with the party happening for bitcoin celebration at little bit, cough and out in the other world, the fear world out there while we've been here. well, the interesting headlines out there are of all despair. essentially. inflation is good for you. they say, and so is jamie diamond. so here's the headline. inflation is good for you and this comes from the intercept and i say don't panic over milk prices. inflation is bad for the one percent, but helps out almost everyone else. and what's happening is this says, the intercept, the inflation freak out, is all about class conflict. in fact, it may be the fundamental class conflict that between creditors and debtors. a fight has been going on since the foundation of the united states staff because inflation is often good for most of us,

but is terrible for the kinds of people who own corporate news outlets or say, founded cold firms. and a panic about inflation usually creates the conditions to weaken the power of working people. so says the intercept allegedly a very progressive media outlet, right? as we've been saying, as i've been saying, as inflation takes all the major media and alternative media the way they describe inflation and they, whether describe economics or get increasingly more abstract and unhinged. so they go on to say in this piece that inflation is running a 6.2 percent, but the author claims that, well, wages are up 5.8 percent. so clearly, immediately, that's one, a signifier that mathematics is not the author's strong suit. a 6.2 is clearly more than 5.8. so wages are not keeping up with inflation quite simply. now that doesn't take into consideration that 90 percent of all stocks are owned by that for sale in

the country. and with that 6.2 percent inflation, that's being reported. stock markets are up more than 30 percent this year. so the 10 percent that own stock market are getting that huge 203040 percent gains in some cases that's not being enjoyed by the under class. as, as being described, was that 6 point to top line numbers, understated by 10 points. it's actually inflation is running 15 to 16 percent. and we see that happening in stores. we see that happening in the energy markets because this is the number that they carry through a lot of adjustments to make it look like the federal reserve needs to keep interest rates as low as possible and who benefits from low interest rates. those people who are borrowing very cheaply and buying assets and again making 102030 percent a year, while the average working stiff with a 5.8 percent increase in wages is going to take a net loss after inflation as the interest point that they're losing money against inflation, number one, they're not, they don't own any assets. number 2, and the wealth and income gotten divide simply gap some wider. number 3. so this

guy is wrong, wrong and wrong. yes, well, so the argument is that, you know, poor people are debtors and sir, they do have a negative net worth because of all the debt. but in terms of the enormity of debt, the enormity of debt is all owed by the derivatives and the leverage in the banking system. whereby if that goes horribly wrong, they get failed out by that rest of everybody. that's why we have such high inflation. it also encourages this notion that sure, there is no fix for our mess up economy, where all the manufacturing has been shipped overseas. thanks to various tax policies and you know, benefits that big corporations own sending your jobs overseas. but just, you know, become live a precarious life, live in debt, where you know, who likes being in debt and having to stress out about whether or not you can meet your monthly payments. it's just like this is the trickle down of the united states

itself is a debtor nation, and relies on the kindness of strangers. so that's what they're telling the ordinary person be like your, you know, your boss be beholden to everybody else. gold is the currency of kings, silver is the currency of merchants. debt is the currency of slaves. so what they're encouraging therefore, is a slave class. debt is the currency of slaves and they were there at the intercept . they can, they equate progressiveness them. progressive ism with slavery, which i think is not, not the correct equation to make. you know, we are in a developing nation where by remember we do have the, can tell you in effect, within the united states, those who received the money 1st, the new debt that the government that the central banks issue, they get it for 0 percent by the time it trickles down to the bottom. as 1314 percent, of course they didn't mentioned interest rates, right. ok. as you point out, their incomes are only up 5.8 percent this past year. inflation is 6.2 percent. but

what interest are they paying on that? that right? because if the interest on there that is like 13 percent, they're still losing money, maybe a little bit less more if the whole the underlying value, the principal is the subject. right. so progressives think that all that is equal, they don't seem to point out the fact that if you are in the top 110th of one percent, the cost of your debt is 0. and in some cases under 0, it's you're getting paid to borrow. if you're in the lower classes, you're getting a 5.8 percent increase in wages, where you're paying 13 to 16 to 18 percent on credit card that are paid a loans. paying 22003000 annualized rates of debt on that interest. right? call interest rate. apartheid in america really has become an apartheid state must not be shy about it. when the apartheid wall is all about interest rates. if you're a friend of wall street, you get to borrow money and 0. if you're not afraid of wall street, you live in the band toussant of 18 to 45 percent interest rates and it's chosen the 1st well,

let's look at some more numbers to see. you would think if inflation is so good for the bottom, 99 percent. let's look at some data at the united states alone. okay. let's see how people feel. let's see, you would think that they would be relentlessly optimistic that they would be feeling good and not filled with despair. and yet the death of despair. number drug overdose deaths in the united states surpassed 100812 month period for the 1st time. cdc says as a center for disease control. so despite this booming inflation rate, it seems, despair is up. perhaps these people need to read the intercept to realize how good they have it, that this inflation is supposed to be good for them, right? a 100000 deaths. and if you compare to last year, 70000 deaths, that the sears on a 1000 deaths, that's an incredible rate. more than $5.00 or 6.2 percent. that's an enormous

double digit rate of death of despair. and if you put the rate of overdose drug overdose deaths in america, you map it over the money printing. it's almost exactly the same, the amount of depths of despair in america and the em to money supply is increasing at about the same rate as it shows you direct correlation for all the money being printed by the money printers. they are literally sticking needles and people's arms and murdering them. well, they are certainly filled with despair. and despite what the media keeps on trying to tell them that this is the best they've ever had. it, certainly it is the best. it's been for some people. now in terms of inflation, the united states, we have 6.2 percent. that the highest and 31 years, we have inflation running a hot as well in canada, u. k, and other countries. but we're going to look at a place where it is even worse, and that is in turkey. we don't deserve this as a nation. one market stand owner says of how high turkeys prices have risen. people

are struggling to buy food as inflation has soared, nearly 50 percent, an independent group says, in comparison, us prices are up about 6 percent, so we don't deserve this as a nation. again, the difference between an elite who believe inflation as good, and the ordinary person on the street experiencing a much higher rate of inflation than we are in the united states. but nevertheless, if this continues to go higher, these are the sort of circumstances we'll find ourselves n o people leave, understand that the central bank in turkey in the central bank in europe, the bay, the federal reserve bank, the bank of england and the bank of japan are also actually one big bank, and they are printing money by the truckload by the trillions and the catastrophic impacts are impacting countries in different ways and the policy makers, those countries are reacting in different ways. in turkey,

the leadership is decided actually lower interest rates, which was exacerbates the toll taken by all the money printing seemingly almost it's such a stupid thing to do it's. it's almost as if the leadership is trying to wipe out their population, which i, they haven't had made that their stated case, but this is one of the stupidest things i've ever seen. so they are certainly wiping out the savings and that's supposed to be good, apparently for the bottom 99 percent because debt gets wiped away. so they're saying just go into debt. you don't need savings here in el salvador, where we have been, it's all been all about the opposite. what you see here has been genuinely relentless optimism. you see it all along the streets as you're driving around up the coast, across the mountain, up the mountain, down the volcanoes over overhead. like where we look. you see people smiling and you see them really excited about this becoming a hyper big client,

eyes economy and kicking out the bankers and away because they're creating their own financial system. and i want to show you the legacy us dollar theat system. what that has achieved, what, what the oligarchy in that system, and the can tell you in effect in that system. here is the headline while we've been here. and now salvatore, that just a pit demise is all that al salvador is moving away from just in this is from bloomberg news, hong kong leader, kerry lam says j. p. morgan ceo, jamie diamond, was allowed to skip $21.00 day hotel quarantine because it involves a very huge bank and his trip carried totally manageable risk. here's a guy who takes risks and when they go, bossed, gets bailed out by the taxpayer. and not only did they get bailed up to get rewarded. so for every dollar jamie diamond steals the taxpayer, gave someone additional 10. and if he goes to hong kong on a junket, any breaks loss, and he makes a clown of himself. and he did

a den upgrades. everyone in hong kong has been denigrated by jamie diamond. the world press applaud him and things aren't going great over there. i wonder why, but nevertheless, i look around the world and you see the impact of all of this flagrant money printing compared to el salvador. here in el salvador, the sun always comes up. the volcanoes always erupt. the waves always come in and now their money is tied to unimpeachable mathematical certainty brake coin. it fits in el salvador like a hand in glove because i recognize the inevitably of nature, bitcoin as nature. and they are going to benefit strongly by it. and the current theory is really booming. everything is a consensus algorithm. essentially we, we are governed by consensus. and that's democracy. that's a republic. that's our global monetary system. and this is what you have an, an unfair system, theat where it by they have special privileges. above and beyond science. the

ordinary peasant is told, trust the science trust the science. you have to be locked down, you have to lose your job, you have to, you know, pay all the costs, the risk of what's happening in the economy. whereas in the hyper bitcoin ice world, if you have once a tow, she, like many people here might have only wants to tow she or you have thousands and tens of thousands of bitcoin. like michael sailor, you have equal say, in the governance model of bitcoin and i think that's what you're going to see. relentless optimizon booming and an economy and a country like el salvador. right? but guys a mirror. you know, if you look in the mirror and you see the devil, the devil will visit you, said jerry lamb, keep that in mind. if you're looking to marry nancy, pick like jamie diamond shows up here and even worse, trouble than you already are already. we're going to take a break and when we come back, much more coming your way with

and people is something they cause to ride on police reports in all caps in december 2020, a group of anti fascists allowed a film crew access for 3 months. so if people organization, if an idea that you must be opposed that channel out the gate while they may kill

their faces, but they can say what they believe in. we believe in helping our community. we believe that fascism is one of the major threats to united states has gotten reuben, this is a chance to see who n t for really are in order for me to extract my 1st amendment right and say that my life matter, i have to be on to the teacher, that's all american. we can't charge the police, we chance was the government. we can't trust anyone except ourselves to protect ourselves in join me every 1st day on the alex saline. sure. but i'll be speaking to guess of the world of politics, sport, business, i'm show business. i'll see you then with

ah, welcome back to the kaiser report, i max kaiser time at a turn to romance martinez here on bit claim beach in al zante. el salvador, run out of welcome. welcome. whoa. can to beat going be to welcome to sun there will go to sadler, so happy to have you here and that you can leave, you can leave in the eco system buying, paying everything with right, the ecosystem of big client. they circular economy of big client here in al zante and it all started with one proposed to stan and, and a couple of surfers kicked the whole thing off. is that so? so how that went down? yeah, between beach is a theme of michael pete. their song or human sri, la impala, me a now or team have been growing, and we're in beacon came here to our community. we were doing social initiative.

we're running $21.00 social media, giving 4 pillars, education, recreation, spiritual and empowerment. so, and we have an english class is computer class is, is color to for the university transportation to bring the kids to the schools every day. so be, go, was that so that we, we, we were waiting for, you know, right, so a lot of this, it was happening already and you have these 4 pillars and you are pursuing education and trying to bring some kind of holistic approach to education and culture and then into this fertile soil dropped bitcoin. gra. yes. and he's so amazing and so interesting what's happening because we were working the same social initiatives before beat them. come here. when did i something

change and something, and that thing is financially education like no one hour on the word teacher, what's moonies? how fee and money works, you know, but we make transactions ever they would, they would dollars every day. and until dad we connecting war the proven that or pines had, you know, before us. and when people came here, when beat can came here is like we started to seen people saving for the 1st time. people buying an acid for the 1st time, this more merchant transacting digitally for the 1st time in their life. you should be, it can also someone who tardiness were to receive and send payments, you know, and after that you connecting to my parents, for example, that they never have access to the bank account. so they spend everything, what they get in the mon state spending in a month because we here for saving money. you need to bring in the bank by you. so the 4 pillars tell me the 4 pillars again, education, air, recreation,

spiritual and empowerment, and none of those 4 pillars talked about money. no, really. all those 4 pillars sit on top of money. exactly my right exactly. tell me why tell me out a because he's it is in the way that we have been growing, right? like we grew up and we the examples that we see in our community a were lie or something had been always like a fisherman town like a people working in fishing and fishing, all quoted aiding like growing bass to bulls corner fuel and all that stuff. you know, but really, really, really no one will come here and say a luke exist these. and what we have been learning is like if you want to help someone, if you want to help one family teach, then

a book financial. it doesn't matter how, like, how much money you have or, you know, it can be like, these are big. but the people know about financial and they are conscience about what is happening. that they need to safe more need that now it sees these digital assets that he's free and he's there and everyone can benefit from, from there. you know, what's interesting is that any united states or i come from there, of course, there is well established monetary system, the u. s. dollars via money. quite right. now, people in el salvador are enjoying a privilege that most, if not virtually all in america, do not enjoy. and that is just this to following in america. most people can't engage in a financial transaction without being spied upon by their government. and so in el salvador, that's not true because the big point transactions are completely outside of the system to in america, people cannot save money without the threat of the government confiscating their

while they've done it before. they've done it with gold, they've done with the money here in el salvador, people who have on campus cable bitcoin can save without the threat of the government seizing their property and they're well. so al sabah dorians are enjoying a level of financial freedom. here as a country, as a percentage of the population of the country, which is in the 2030 percent level as soon to be 100 percent in america, is barely even one percent. this is the leader in the revolution as, as you point out, you can't have the 4 pillars of society that unless you have that foundation pillar of sound on campus cable incorruptible money. so what will happen in the region drama? is this going to spread to other countries? tarley and you're bring something that people need to know. people are representing different things for different people, right? i, for the majority of the people, beacons just like an asset. and you need to pick up it don't taxes in the usa

because deep twenty's couldn't see the rating like an asset. right. but big green social currency. no father and became so so like i'm an attorney network that he's there. they do say monitoring that were like i was there junior, someone to turn edler, leave to be someone italian edler the like, or country was paying like $400000000.00 and fees from money that or people send from the united states or harbor and remittance in that now all those money can go directly to their family is right. there's $400000000.00, which is the economy. i believe last i checked gdp was approximately 78000000000. so that's a significant percentage of the g. d. p immediately boost immediately going to the pockets of people here and not being paid to the intermediaries like western union countries also interested in getting into mining or using volcano energy. whites is projected to add a $1000000000.00 worth a big claim to the countries balance sheet that will give it another huge boost.

what's the, what's the status on the president's initiative for a big coin mining using volcano energy rama. you know, that's kind of really exciting and what's happening and we have that energy and sadler can benefit from that is beautiful. you know, and that's for that big case is, is few months ago, it was like a big scotia about that. the energy that to how the to have been mining of the piece juicy, like a lot of fall where a lot of energy and, and order car and really from the take power i, i don't know really that i how everything works. but what i see that he's beautiful, that the countries benefit in every angle and taking dotson pertaining to that are there. and if we can miami beach with energy that came from the will kina that's beautiful. that's beautiful. up to kelly

a president of cali tweeted just today at something to the effect that big coin is beautiful and he seems to be a renaissance man. is that a fair characterization? the green, beautiful man. the please. is. is hall, please lie these the total sympathetic to and empathetic and in, in line with the sentiments of the president. for me, people need to give, like a lot of credit to, to, to press it in that take that decision, you know, that may be from a legal attend there. maybe like a dream can true, a big dream for many people around the world. and that one person in the symposium and there are people by putting these new technology and their societies. you know what's gonna happen?

look, i mean, you'd have to convince re i come from the united states where we'd sign the declaration of independence. we needed to break free from the colonial english empire take on the world and become a huge entrepreneurial country. you know, my question is as follows. some people, a question whether the roll out of big coin had to happen as quick as it did this seem to happen suddenly. but there's an to me to be made that this was the only way you could do it. an escape the really the prying eyes of the, the i m f and these other organizations that have done more damage than good over the years. well, how do you see that? that was a project here between beach project. it came for more than almost 3 years in a house that we were empowerment or community here in santa right. and we see what beacon was

giving to the local people here, keeping access to the things that we talk before. access to by like a nazi for the 1st time i says 2. so inside digitally asked is to safe morning us is access to sending and receiving payment. so if a font there as something show to the word, the one community can change using that technology using bitcoin. so for us it was nothing like new. we don't, we don't go to see like, okay, if, well, if he was working here and saw that you were working in the country, but he is gone. it took more time in the patient to change dedication with people trying to help the people that never had been exposed to the new technology. we grew up here hearing that the new technologies coming, but he had been testing in europe, bringing united stay in brazil. but after we'll come to our country now she stories

were making, he started here and how i say, what did indeed she is like, the countries have like a lot of people de monte brain smarter guys working to build the scene. frank structure there will halbert country that will help entire word the humanity working on us in our country. why? because how that goes on between 9. do you see what became east going the chance that every effort doesn't matter? what would you do? it's not for you is for everyone. i willing to die on the cell. i'm ready. roma and martinez right here from als on day pick going beach el salvador. thanks so much being a kaiser for 9. thank you for being here. i knew 100 percent sure. you're going to have finding our country, thanks for visiting bitcoin beach. thanks for visiting our controls. hob other and

it's a big team between beach is a big team behind i. you should come in the span and need something boost with us. right? you know, i will, i'll probably get here anyway. that's going to do it. but it's additional the guys right bar with may max kaiser and stacy herbert law. thank our gas from at martinez until next time. i am a ah ah sure don't seem inefficient, mister spiritual, someone with some demolish of discussion. and want to see

with the for your phone, when you're beside sex, i me at the what the membership usually said almost by you. so what i'm going to look up in cities, it's just once initially you have the key moments which she's leeway and she shared folders driven by dreamers shaped banks. 10 percent of those with theirs sinks. we dare to ask

oh, i saw a message from an unknown account. it had a self who with my passport as its profile paid show up, i saw pictures of my documents. it was they also sent a credit contract. if i had just 3 days comply with a demand, if the, if i didn't send money i, they sent up an online hate campaign. i was supposed to be a very dangerous man. so what we've got to do is identify the threats that we have. it's crazy confrontation, let it be in arms. race is on offensive bearing dramatic development only personally and getting to resist. i'll see how that strategy will be successful, very critical time. time to sit down and talk

with a historic and 1st and coordination with allies. the united states is releasing strategic oil reserves to bring down petrol. prices about the failed attempts to convince opec the boost production. what i will never accept is medium to under the guys. we are dissatisfied, he's pure violence against people. the dutch prime minister lashes out to protest is off the knights of rioting against tough you coded restrictions. in this case is search and locked down to re imposed across europe. and the new york police survey shows that more than half of the cities offices, which they never joined the force. we hear about the growing pressures they say we have to work through officials who campaign or promises we're going to actively prosecute costs or what else could we possibly expect to happen? so they're going to take a step back.