has intrinsic value, all value is subjective and derived from human consciousness would say, call manga right? right. the fact that big coin has no intrinsic value or utility value is one of its greatest attributes. one of the greatest features, why is that? because any time like a commodity would have some intrinsic value, let's say with silver or some of the electronics applications used for gold. that means that part of the community brings in what they believe to be its value industrial value. and that would have an impact on the overall price discovery. and that would mean that it's not perfect money because some of those participating in that market have different expectations about its use case. then those who are looking at it for the purpose of storing wealth with bitcoin because it has no utility value and no intrinsic value. and it's perfect money. it's only uses as a monetary premium. there is 100 percent versus goal,

which is maybe 8085 percent solver, maybe 45 percent calories shells close to 0. us $1.00. they have to see us dollars know monetary premium whatsoever. it's literally worthless. so the jamie diamond is a guy who's a bureaucrat either. he's a button pusher, he's a beam counter. he's from the back office of the banking industry, has no creativity, never sold anything in his life. is a complete idiot. well of course the us dollar as paul crag pointed out, its back, my men with guns and violence does have some power in which is value. so certainly they do have a monopoly onforce around the world that they can apply almost anywhere on earth without any sort of consequence. so there is that, but in terms of what jamie diamond said here was an interesting response from gabber. go back to with van act that fund. he said the monetary value though,

looks over a trillion dollars exactly what you're saying. so it, okay, there's no intrinsic value, but there's monetary value, which is the trillion dollars market cat, right? the because is perfect money and then it has no utility value to order intrinsic value to interfere with price discovery. it's d monetizing gold, silver and the dollar. that's why gold is people are selling their gold to buy bitcoin because gold is a less perfect in terms of being a perfect store value them bitcoin. and so it's being ah, that a d monetized. and that's what we're seeing happening. and the numbers speak for themselves. so in terms of having no intrinsic value, let's look at the definition of spoof i. k. s spoof can be either a noun or a verb. i'll read both them in this context ogen a talked about. it's actually we're using as a verb, but i'll read you what google throws up in terms of define spoof noun, a humorous imitation of something, typically a film or

a particular genre film and which is characteristics. features are exaggerated for comic effect to a trick played on someone as a joke. so harry turned to the verb one, imitate something while exaggerating its characteristic features for comic effect to hoax or trick. so hoax, trick, imitate, it's a trick or an imitation hoax. so jamie diamond, he says he knows about no intrinsic value. well, let's look at this headline. j. p. morgan settles spoofing lawsuits with $16000000.00 payment. yes. spoofing, lawsuit. well, the firm was engaged since 2008 to 2016 and spoofing. precious metals markets. reuters have reported that j. p. morgan chase and company has agreed to pay $60000000.00 to settle class action litigation by investors who accused the large us bank of manipulating prices of precious metals, futures, and options you government investigations into

a form of illegal trading and precious metals and us treasury markets newness spoofing, but note they also meant sion us treasury markets, so they were spoofing us treasury markets. spoofing is where traders place orders, they intend to cancel, hoping to move prices to benefit their market positions. for example, a traitor could put a massive bid in to buy gold underneath a current price in the hope that other traders will see it and start buying. this could push the price higher when the original bid was never meant to be filled. all the while the traders could be holding the commodity, watching the price rise. we've been talking about this for those entire 8 years. we reported on it the gold anti trust action committee was reporting on it in the early 2, thousands. we've made films about it. we've talked to experts about it, jamie diamond and j. p. morgan having been engaged in massive market manipulation and fraud in the precious metals markets and in the treasury market for a long, long time, many, many years. and let's be clear that when you're spoofing a market,

you're committing a fraud and there's no 2 ways about it. now the great thing about jamie diamond and they perfected the art of paying it, keeping a $0.90 of every dollar he steals. so that $60000000.00 is a, a very small fraction of the money that they made by committing spoofing fraud. if, if jamie diamond was not committing fraud, his bank, j. j. p. morgan would have gone bankrupt many years ago due to his reckless bets and the losses that they took, and without the bail out from the taxpayers, he would have been bankrupt 3 times over, all ready. so, and he's not the only one warren buffett. the guy at wells fargo, the bank of america, goldman sachs, they're all in on doing the exact same thing. slight tweaking, slight variations. remember, i've always said remove fraud from american business, and you have absolutely nothing left over except

a few cheap bees and buffalo. but that's the only thing that's ever had any value in this continent. are the indigenous people, everything post plymouth rock is turned into complete garbage freight who actually the article points out that these are litigants received less than 10 percent of what they had claimed and law says, so you are right on that. it does mentioned that they've paid the tape more in the bank itself, has paid hundreds of millions over the past year in terms of fines to the department of justice for the spoofing. they, however, did not have to admit to any wrong doing. they just sent this money like benevolently know the government. the banks are self regulated, that means they write their own regulations and in the regulations that jamie right to says, if anyone catches a spoofing, we pay a small fine. i get to keep 90 percent of our more of the profits and i don't have to talk about it in public or anything like that. and my daughter who buys bitcoin,

she won't be embarrassed that her dad is a serials recidivism crook because i'm jamie diamond. and i love to eat tape worms because i'm a tape worm and i crawl into the the anal cavities of your society. and i still owe you money. then i'm a genius heath that guy, man. if there was any justice in this country, boy, he'd be with us. he believed world boy. so in a spoof the definition as i read to you before, it is a humorous imitation of something. so i think, you know, one could laugh or one could cry at the imitation of free markets, of, of capitalism, of democracy. and maybe they're laughing there while they are certainly lacking all the way to the bank. they're making a lot of money doing this. but in terms of this intrinsic value, there's no intrinsic value in anything we're gonna look at and then the real yield, oh for. and i many,

because there is no intrinsic value within standing of those bonds, they're right. like they're negative yielding bonds and negative real rates. so good morning from germany where the financial repression intensifies real yields tenure bonds. inflation plunged to negative 5.52 percent afresh. all time low after inflation jumped to 5.2 percent in november from 4.5 percent and october, real yields now negative for 67 consecutive months. another historical record. that's what it looks like in a chart. oh, plunging, plunging negative real yields that. take them 5.52 percent from year wealth your pile wealth. but that's right. so your savings are being subtracted by over 5 percent. to feed the bankers who use who steal that money as

a form of theft. it's a collector photography and they, and they buy a yacht and they hang out monica with your money. and the solution would be to purge the system of these guys by raising rates. and you knew like you would take um, something to induce vomiting because you need to get it out of your system if you need a vomit out. these bankers that are putting the negative. yeah. and yields down down to these levels. but nobody has the courage for that. well, so this is the e c, b buying. this is the fed buying, these are the central banks buying regardless and pushing down these rates in order to cause the so called repression. i think one day instead of calling a financial repression, they'll call it financial emancipation. in a way, i believe it is. you could look at it negative, or you can look at a positive. and i think in a way, like where bic, whiners, i don't care really about the system where you know, our job and our role out there to educate as many people worldwide, to tell you what's coming in, what's happening. we're looking at their own data. this is what their own data is

telling you. you can choose some people, some people pay good money to get whipped like that. and you know, if they wanna be report financially repressed, some people might like it. but i think a lot of people don't, and we, this is why we cover decline. this is why we cover hyperbolic quantization, which is an exit plan, an opt out to the system. so you could either inter this, you could either um, inter and like it, you can either in dirt and cry and whine and complain. or you could just like literally step away. that's all it takes. but you right now, i don't get me wrong. i'm, when i talk about the horror of this, i'm channeling the anger of the audience. this doesn't apply to me. i've been bind bitcoin for 10 years since it was a dollar. i'm profiting from their skull dory. thank you very much, but i know you out there who don't on bitcoin are in a lot of pain. so i'm channeling your anger and pain to let you know that it's ok

just by bitcoin in terms of this like that. the pig headedness, the wrong head in as jamie diamond big quinn has merchant value. then we're seeing a lot of of theat apologists and feel bugs who will say, ah, you know, it's immoral to have big wine. it's a moral to have money that does not decline in value. so, you know, i'm thinking like when you look at this, the built in obsolescence of art system is in their own minds, needs to get faster and faster like so the value of your bonds. they should disintegrate, faster and faster, because that's the only moral thing to do and their universe. that's like the argument undertakers make against the people dropping dead. it's, they, they, it's in their interest that people drop dead. that's in their interest for some financial pundents to see the value of the currency lose value because they could gain traction on social media saying it's somehow a good thing, but not everybody is an undertaker. every one is a,

a grave robber. see now some people are actually out there trying to be productive and productive lives. and of course, that philosophy of, oh, the currency has gone to 0 and less than 0. and that's a good thing is a, is the, is the, is a madman, lunacy. but that's what they get paid to do. all righty, we're going to take a break and when we come back, much more coming your way. ah ah. just you were told it was bad for your eyes and your posture that it would stop you from having real friends and finding a girlfriend. but what they fail to mention is that you can make thousands of

dollars every weekend by simply playing video games. a couple of them because i always wanted to question about a property as i was originally looking for, isn't it okay much what we do is no sooner course to make video games a high paying job. you have to be gifted and quick with it. hang on to open up with a little bit more to listening. bottom in this sounds of webpage but we up on the on the booth but even started yet. glove boy, well you most formula video it out or you mean that was it neil's feel? are you guy of the order, but i would that be careful with will still be stuck with these odd to do i also use ah, i have to say that the a stand the criteria are in germany for many years. his main compatibility was

public opinion. those politicians paused as competent we act in line with what people expect from them, but public opinion is produced or shaped by mass media associated by journalists. most german journalists are sympathizers of the social democrats and of the green. c, a for as long as it, cuz you read my social democratic policy projects you pass is a competent leader. ah, welcome back to the kaiser report, i max kaiser time now to turn back to our conversation with simon dixon of bank to the future. wrote the book bank to their future 1st mention of big coin in a published book, i once again. thank you, simon. always good to be here. thanks,

matt. let's discuss predictions for 2022 and beyond. as well as your assessment of the year that has just ended, let's start with that. what were the 2 or 3 biggest economic monetary or financial stories of 2021 in your mind will. of course, it's going to be the salvador making bitcoin legal tender. and of course it's going to be the announcement of the between volcano bonds because these lead to, as we've discussed in the previous episode. the reinvention of not just money, not just debt capital markets, but also equity, capital markets and securities in general, which are jar enormous markets. and to be able to see those, you know, be built upon digital hot sound. money is really the next phase of bitcoin adoption . and the reinvention of the financial markets will, can be more important than that. but i'll sorry, are making bitcoin legal tender. you know, before that one, what happened there was

a guessing game who might be the country to make that coin legal tender? nobody had el salvador on their bingo card as i, as i recall. ah, who do you think might be? now the next i, i'm hearing tonga could be the next. there are, of course, a $160.00 or so countries around the world. any one of them could be next. any thoughts on that? you know, the order of events is it could really be anyone, it could be an iceland. it could be anyone. in a situation where they want to transform their personal sovereign debt, those that may have a large dependency upon the dollar, but not the ability to create the dollar, which is many countries that are placed by that challenge. and so it's a, you know, it's a, it's a chain of events where at the very top of the chain you've got the ones that have the most to lease, which would be the federal reserve go down to the european central bank. i'm going back to japan and then at the very bottom you have countries that really have no sophisticated financial markets. no,

you sophisticated central banking. and so maybe a dependent upon the know the currency of the one that they crates all the country, some kind of 5 inflation reinvent the fact that these countries get another choice short. it means that there's many countries in that situation right now. so there are many countries that are experiencing the incredibly destructive effects of destroying the currency. and so they might say, well, we don't want to be at the mercy of the monetary policy of the fed, and we don't trust ourselves. so what's the logical next step where you can return to a gold standard but you know, or you can just use a bit coin standards and say, you know, to borrow a phrase from safety and amazed, you know, to be able to build it upon digital hob, our money is an opportunity for every country in the early of the country decides, you know, most people will be watching el salvador right now. those see how it works out for them. and then the deciding that the earlier we get on board to this,

the more the opportunity to have the bigger effects in terms of wiping out some sovereign depths. and moving to a monetary policy where there is no central bankers, nobody can interfere in the monetary policy days. volcano bonds designed primarily by sampson. now over there, block stream that all salvador is going to be floating. it's a 10 year bond. the big coin is half the bond, or half a 1000000000 with a 5 year lockup. as sampson tells it, you know, that's a half a 1000000000 big coin that's off the market for 5 years. i'll solve it or i could do a follow up shortly. bond and do several 1000000000 more other countries can follow suit. so the supply demand equation for bitcoin gets very compelling. simon, with these demand, i'm sorry. oh yeah. what these demand shocks, i've 10 countries suddenly follow suit. there's going to be very little bit coin around at these low prices, simon. yeah, you know, in this is just really a,

you know, the next phase or so many people don't get. it's a bit coin because they have these perceptions. all of these attacks and you know, some of them of the government ban. well, in 2021, the government bambi came here. we got the example of what happens when a country bands and when a country doesn't ban. so in the united states, they decided that they would, the fcc, which supports a big coin, features back exchange trade to fund. and now the most sophisticated finance pensions will have some big coin through the t f within the pension fund. now you will also, they had the infrastructure bill, of course they won't back up. so if you can't beat it, why not try and get some tax? and so you had that happening in the united states. and then in the same time in china, china said we're going to buy bitcoin mining and what happens bitcoin at a christian and went up to all time hoist. just like last time they said that

they're going to band bitcoin and then they have a consultation around. so have we been a little bit hasty? here is the coin, a tool that we're going to need. and the upcoming currency was, as we answer these, geo political currency was and debates and say, you know, and so a lot of the mining went to texas and america was the benefit, the beneficiary to that. so these government bams, you know, really punish those the make these bags. and there's always another country that says, well, we'll want up that if united states is getting a bit of the industry, will just crate, make quite legal tender. and we'll just crate bonds back by it, and then we'll take it to the next level and say really these, these currency was such him rickets as always talked about. you know, be coin has become a major player in that it was always thought that gold would be the the player in that game. but the, the returns have been achieved. 3 speculative source of ideal. i bitcoin opportunities for every country to have bigger impact. i'm not just have this,

you know, disa, this store of value that doesn't really increase the wealth, but also one the attempts to because of the economics increase. well, so have you seen a big coin? people get scared off by the volatility. people get scared off by the government bands, but this is the way big quinn is designed. it's a bit of an a stringent, you know, it pulls out the poison, it pulls out the bad actors and reveals them for who they really are. a rubini or a chef are overrated blowhard state we're really deserve not to have a reputation at all. money managers who have not invested are under performing dramatically. pundents like paul crew going to new york times expose as a war monger and a slime bag. and that's what big coin can do. it reveals the truth. and now talking about a sly bags and posers. in the past weeks, joe biden said that big coin makes it difficult for the west to impose sanctions and other countries. hillary clinton, i said that big coin undermines the u. s. dollar. so who's zooming?

who here simon is, is big coin revealing the slime bags for who they are or do they have a point while they're doing their job? some fussy, of course, every point and the job was to read, you know that that job by definition is to maintain a power and influence over the world. 3, the dollar. that is the job. and the minute the federal reserve sauce buying some big coin, which is why they will be the very last person to buy bitcoin. it undermines the goes. so also, you know, it's why when, when trump was in power and he was negative towards bitcoin. because his job is to defend the dollar, that's the president's job. and so you'd expect this as soon as he's no longer president, and he goes through a financial blockade and censorship. he truly understands the benefit of money. you can a money, you can spend and money that has a fixed supply. so it's just people looking out for their self interest and doing

their mandates and doing what that meant to be doing. so i don't think we should be surprised by these things. but the reality is that what we've seen is that the queen at the stage, so this is whenever you get these attacks, whenever you get these, you know what's the next one? so people might be fearful of the 1000000. so she coins hit in the market. well, there's now countries. and so for instance, organizations, the car that supply. and so what would happen is you get the jar, norma's correction in bit coin that we've seen before. and then you'd immediately get the buying power of people that knows that there's only $21000000.00 of them. so look another 1000000 to fit the market. this is money. you can spend money that you can own a money that has a fixed supply. and so therefore, you just go through the inevitable cycle that we've seen over the last decade, which is 1st you try and off it and then you think it, then you realize that is something to be taken seriously. then you try and eliminates and you realize how futile that is,

a bit coin corrects itself. the wells come along and accumulate more bitcoin and it rewards the people that were able to accumulate that and had a longer term horizon. remember, this is wealth. the fact, you know, this isn't fear, that based ponzi schemes, where your goal is to take more debt because you know, the value of your fear is going to be worth less than the future. this is create a wealth effect whereby it rewards the saver because of his fixed supply in economics. and then once you have a wealth effects you can redistribute, you can collateralized, you can borrow money that goes down like the dollar. and you can really reinvest that, well say this is oscar in economics that is happening side, the financial system. and every time someone into fits, it just crates, corrections it crates, manipulation, it creates volatility, and that the long term fundamentals prevail, that coin has come back from death. 3 times. i think jesus only did that once, give me an idea of the power bitcoin. now somebody made the statement that going forward, the world reserve asset will be bitcoin,

world reserve currency will be the us dollar. do you agree? well, i think that there's 2 use cases that are going to emerge. there is money that you want to spend and use for expenditure, and there is money that you want to save. and so the wise thing to do is put your money, put your savings in money that you want to save. and therefore, you look at the economics of that and for expenditure, you look at money that you don't want to save. the money that you want to spend does a simple gresham, little money that you want to spend will be central bank, digital currencies. as a d, leveraging facts when the systemic banks, risks and all the data, i think the government's going to the leverage and use central bank digital currency to replace the money that disappears. well, every time a bank goes boss to hit some systemic risk of them. so the people, they lose their money and then pick coin becomes the place where people want to safe, which is money. the attempts to go up in value because of this economics over the

long term. and so i think you end up in the end, you have a central bank, digital currency, the lead model, which is money that you want to use for your expenditure. however, they need to keep the user experience of that money. good. so one of the biggest risks with central bank digital currencies is that they use it as artificial intelligence, lead surveillance and control where they automate tax collection, where they put negative interest rates algorithmically, based upon the environment. and they connected with fiscal and monetary theory where, you know, politics is combined with money. a feature of central bank did so currencies, the very opposite is true, a big coin. and you have to 2 competing and a bitcoin becomes the reiki late of the regulator as well, which is the, regulates all fia currencies. because if you get too bad with the user experience, so if the central bank, digital currencies, then you're competing with bit coin and we get into this, you know,

really interesting communist versus free market debates on the currency war level that i think is going to be one of the most interesting and exciting times to watch and view in financial history, and we'll get to see it in real time. a documents is from the beginning on the cause of report, gray point, theat, money equals communism, couldn't agree more. simon dixon. thanks so much for being once again on kaiser report. thanks. i have a me. all right, that's what i do for this additional the kaiser report with may max kaiser and stacy herbert want to thank our guys, simon dixon, back to the future. and so next time i'll ah, to what we've got to do is identify the threats that we have. it's crazy confrontation, let it be an arms race is on offense. very dramatic development. only personally and getting to resist. i don't see how that strategy will be successful,

very difficult time time to sit down and talk with the wound drugs noted as a way to combat a gray problem. but for once, it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected this time and the fight against drugs took a trench. it told us that it was competent, short form this way. today chris ran to be doing clearly. they put him in harm's way, a rural college student does interest get shot in the head and found in the river like that something else had to be happening. the postal service delivery is a $155000000000.00 pieces of mail every year. approximately 40 percent of the

world's mail right now. the us postal service is in the flight of its life to say remain that is really bad financial shape. now facing default, the postal service is a cash cow and there was a way to pull money out of the postal service to put into the federal budget. there was a mandate that you bring in a $100000.00, new revenue every month. the nature of privatization in the us postal service is very much hidden from public view. it's privatization from the inside out a about big business in money. it's not about the public and given them the service that they deserve. it's not about quality of trade workers, it's about with

this always help headlines here. one r t and twitter fate is a biology of accusations that are doing the u. s. government bidding. it's off to the social media giant, worked with a washington think tank and suspending, more than 3000 accounts from 6 countries for alleged state back to propaganda. but you pay that royal college of midwives apologizes for new inclusive guidelines describing mothers as post natal people a former and a chest nurse tells us a vocal minority has hijacked this conversation. is he yet another example of school going in with diversity offices and telling people how to reset the thinking of that memphis and an alignment ruling,

a woman born with spinal defect wins her.