lying on behalf of the federal government, then we answered in to the transitory inflation phase that we're, we're exiting now, but this was very predictably coming after the lies about inflation, didn't work anymore. and the real inflation hit. now or at another juncture, where they're saying that it's really now entering a secular inflationary period, a semi permanent inflationary period. exactly. as we predicted. for a very simple reason. when you print 40 or 50 percent of the nation's money supply within the preceding 12 months, you get inflation. i mean it's like 2 plus 2 equals 4. jamielle and blaming consumers for buying stuff is the kind of a height of hypocrisy. and it's the height of cognitive dissonance and is the height of the american empire to be quite frank. i mean, this is the n folks. danielle is

a buffoon. joe biden is mentally incompetent. and j powell is a crock. well, i think the peak was actually back in 2008 when we 1st started kaiser 420082009. and we've been covering the slow decline. and now is the side in part. and you see everybody up to that likes to ray dalio, multi billionaire who's also talking about the rapid decline of the u. s. and how you know, you need to protect yourself from the dollar declining. and in terms of this, in a situation that the treasury secretary janet yellen describes on the ground like our observations just here in north carolina, is that everybody, it is like the roaring twenties people are out there, spending every single hour of the day is rush hour people are out there, spending consuming and it's it, it's wild because also like there are no workers. so it's total entropy decay chaos like every or you go any, any supermarket, any restaurant, any,

the post office like there are no workers there. and there is lines out the door for every single thing you do. the dry cleaning in our area used to be 24 hour turnaround for years. now it's $67.00 days. so because they don't have any workers . so there is a kind of chaos and entropy and just disintegration happening very rapidly. well, this is the faustine bargain that really began with reagan. you know, the famous reagan satcher era of financial liberalization. this is when america decided to send all of its high paying jobs in factories to china, and the message from reagan and his, his subsequent presidential people, is that you know, you in america, you can just sit home and consume either need to work because we have chinese, the cost of labor is so cheap, everything. all right, but wal mart and, and even with your minimum wage job, you're going to be able to have a flat screen tv. you can go up brand new winnebago cheap,

high fructose corn syrup in your 20 gallon jugs of poison, you know, don't, don't worry about it at all. okay, now it's 2021. and then we see the consequences of this. it's the end of an empire . well, we should all hope it's the end of the empire, of the super imperialism as our guests in the 2nd half dr. michael hudson is going to talk about, and of course, that's all based on the empire debt and the petro dollar. so there is something that it does remind me of because we talk about the can tell in a fact that those closest to the money printers benefit from the 0 percent interest rate. so that's wall street. that's washington d. c. that's san francisco. that's anywhere big corporations, triple a rated corporations, and then it trickles down by a time, it gets that deplorable masses. it's like that 15 to 20 percent interest rates. but you have that on a global scale too. so the interesting thing in the observation i'm making of what i've seen, where everybody has bite a box and stock prices and house prices are way all time highs in some

cities like it's twice as high. the property prices, as it was in the last peak of the last bubble just from 10 years ago. so it's kind of like this. you know, we have a saudi system whereby saudi arabia has 7000 princes and all the royal families. and the oil produced support those families, but not much else happening in the economy. whereas we have the same sort of situation here where we have like 300000000, well say 250000000 saudi princes, american princes and princesses. and you know 50000000 deplorable sis white males who are maga and should be, you know, unloading the goods for us. go do it, go to your job and deliver our goods for us. yeah, we have a kind of a system where the ability to print money means that folks have given up trying to

be productive or worked for a living. right. and they just, they to beg the government for more money. this has been tried a few times before and communist china and communist soviet union and other communists strongholds and stammer works. so i don't see, you know, as just people who have at least some modicum of intelligence trying to mimic failed system of socialism in the past. by recreating it here in america, does a theme and about bio. well yeah, and it's that printing system that i'm just saying like, when they leave, don't even work. they don't do anything. they're out all they consuming and hang out, having coffee and cocktails. you know, the point is like, if you call the people deplorable, if you throw brioche at them, if you, if you insult all day long, you're major creditor and the country like china that provides all of these goods that jenny allan says we're trying to consume is like at a certain point like they,

they reflect back to show you the mirror like, no, you're the one that's the bomb you sure. the one that's not paying for your good. and i talked about paying for your goods. here is a tweet from the president about salvador himself and he's basically quoting case report and asked botany all. i'll try to say it and find out because he tweets and spine, your el salvador, put that i saw the absolute month de toda. so due to extern, congress, bonus, bitcoin case, quoting, that you had said other recent interview on kaiser report that i'll fabulous going to pay off all these debts to this bad debtor nation of the united states with these big coin buttons. yeah, they've got external debt, approximately 20000000000. let's call it, which is now approaching approximately called 90 percent of g d p. when it took a big jump in the last couple of years. volcano, bonds bitcoin back. volcano bonds are

a path to our thing down all virtually all that debt. so i'm kind of making it my mission. when i get back in to el salvador and the next couple of months will be there. the goal will be to figure to work on this plan of eliminating el salvadoran debt within 10 years because he is a bit cleaner and bitcoin his honest money and we pay our debts and we are. this is honest money on like the dishonest money of the other system where debts are never paid and they're just rolled over for decades and decades. and i'll show you that in this next tweet and the headline because obviously el salvador is on a dollar standard. now a bit coin standard, so their debts are and dollar, they can't print it, but look what happens in europe taper. what isi be balance sheet keeps rising despite ramp and inflation. total assets have risen by another 14700000000 euros in

the past week. to hit fresh all time highs at 8.457 trillion. e c. b balance sheet now equals 81.2 percent of your own g p vs feds. 37.4 percent. bank of england, 42 percent. and the bank of japan's 134.6 percent. that's the the bomb lifestyle i'm telling you about. they're never going to pay their debts. they have no intentions of paying their debts. and they're forcing basically the deplorable 99 percent at the bottom to pay their debts through the inflation. right. and then they have one huge point of failure. and that is energy cost, because all that money printing is driving up the energy cost. and it's gonna force russia into the issue. and for that to happen, nato and america military has got to exit germany. when i call it here, 1st you say i'm crazy, but that's what i'm calling. well, so the energy costs,

food, cost, lumber, cost, commodity cost, living cost, housing costs, health cock. all of those costs are going up. and like i said at the top of the show, the elite will blame the bottom. they've already started to blame everybody else for every single cost going up. in the case of oil, it's russia is saudi arabia as their fault, even though just 2 years ago, we were bragging that were the number one oil producer in the world. and so suddenly what like everybody else is to blame. but us like, where's our oil? like they're always going to blame everybody out. and that's, that's just the end of super imperialism. well, energy is life. everything risk rests on top of a foundation of energy. and that's the primary commodity of life. and that will fundamentally change. i mean, look at the agricultural industry, it's all based on petrochemical fertilizers, that's all based on energy. so you can have food that patrick,

chemicals of that energy, can't have anything related to it. so it's, it's, that's what's gonna happen and write an interesting cyclical years of change. and all the players are gonna realign a new alliances. and the big winner will be of cars bitcoin. and within the winters of the winners will be el salvador is going to emerge as a leading the entire world, because they have the energy of the young population and they have the energy, the eternal, nonstop energy of the volcano, bonds emacs kaiser, heading that way. i'm excited, i'm going to definitely become a semi professional surfer. maybe not. anyway, i'll take a break when we come back much more coming your way. ah. well, the pandemic, no, certainly no borders. i'm just like to tease parish

as a merge. we don't have a charity, we don't have a vaccine. whole world needs to be ready. people are judgment, common crisis with we can do better, we should be doing better. everyone is contributing each in their own way. but we also know that this crisis will not go on forever. the challenge is great, the response has been massive. so many good people are helping us. it makes us feel very proud that we are in it together. what is the national mood? i suppose it depends on what kind of media you consume to say the nation is divided in highly partisan is an understatement. this is certainly what the national media wants us to think. what are we really so divided on what really matters

a better way video don't. michelle kraus of pretty much with the with can sure to coordinate a quite a bit of your skin. don't you have a just stick with the boise or like you to form a visa that the chemist out believe with the long term with

what happened? i make no, certainly no borders line to nationalities parish as a merge. we don't have a charity. we don't on the back seat worried, leads to take action and be ready. people are judgment. 2 common crisis with we can do better, we should be better. everyone is contributing each in their own way. but we also know that this crisis will not go on forever. the challenge is great, the response has been massive. so many good people are helping us. it makes us feel very proud that we are in it together with

the me. welcome back to the kaiser report. imax guys are time now to turn to dr. michael hudson, and he thought with an updated and expanded 3rd edition of his classic super imperialism. the economic strategy of the american empire. welcome back, dr. hudson. back next michael yearbook, super imperialism has become a big hit in the big coin community where you are aware of that. and why is that the community you're talking about looked at or just how to do it book they really didn't expect when america was told they thought this is how we control the world since 1940. but our gold means that we can tell other countries what to do. we can be the creditor and buying their property once the vietnam war and war and military spending, push the us into deficits beginning and maintain that they won the goes,

the cover of the dollar was ended and then washington they were all worried. how are we going to express our diplomacy when we don't have any dollars to do it? and much to their surprise, when you're going off, the goal confronted the foreign central banks for the problem. what were they going to do with all these dollars that the u. s. was throwing off by running a trade deficit by spending abroad by buying out or in companies they found they really couldn't do anything but recycle all these dollars to the united states by buying treasury bonds. because if they didn't recycle these dollars, their current would go up and their exports a big price out of the market. so my goal explains how are going off actually created a new form of international exploitation. and the urban con, a meeting of drug burnam said my god, you showed, this is the biggest ball in history. this is great. will you come and join me?

i'll be told me the ca and the state department, we're the biggest buyers, the super imperialism, and got a $85.00 grant for me to explain to the treasury department how the united states is getting a free ride, explaining the rest of the world and making other countries stay for the military spending that was surrounding the rest of the world, military bases and taking off. you are not for a gold standard, however, not for a gold standard, but the gold is the only thing, but the countries able to agree on for the last 2000 years except for silver. if you have countries, you know, what are you going to buy? well, countries don't i, we're going to keep your savings will countries don't want to save in the form of lending money to the us treasury and getting treasury bonds. the united states that,

that doesn't like the holders out there, holdings or fries more. and in any case, there is no way that the dollars of us are going to be repaid, though there's something that everybody's already used to dealing with. and so i do expect that china, russia, the shanghai cooperation organization and other countries are going to realize that if you're not going to hold dollars, if you're going to be dollar arise, then bowl is the path of least resistance because it's familiar. so the folks who are behind super imperialism, the u. s. dollar lead global hegemony. they don't like for people or for countries to have excess savings, right? only if they invest their savings in treasury bonds or do what other countries are they, they would send their oil an earnings by buying us backs us funds,

or when japan had a savings before the plaza or spend all of money on real estate. but when like rockefeller center, they lost the $1000000000.00 or across the stove or so. so the question that they don't want other countries, they have savings that are not under the us control. they don't on other countries to be independent. and part of that dollar had gemini and keeping the us dollar as world reserve currency and control over various global economies as the ability to inflate that dollar supply correct? you can just print it electronically. there's no limit to how many dollars. and the important thing is that you can print out isn't, it's for free. if you buy go, you actually have to produce something. they get the revenue to spend on the goals . but the united states can simply print the dollars either and paper or electronically. and essentially buy up foreign resources or buy imports or

spend on military operations. so a moment ago, when i mentioned that the big claim community has embraced your book super imperialism, year comment was that they see it as a how to book. what did you mean by that? that meant that they could see the problems of buying dollarization the problems of buying, keeping your savings and your dollars, other countries to look for an alternative. and the community hopes that one alternative will be what equity. and save point b dollarization is going to create a market for non dollar assets, either gold or going or whatever. i don't see other countries buying going because of the huge volume of savings or in central banks. so el salvador is made big, clean, legal, tender,

and they are also committed to adding it to their strategic reserves. and they're also going to be mining bitcoin, converting virtually free geothermal energy or volcanic energy. but we are seeing in the region, dr. hudson, a contagion, a few well other countries on the central america, and this is typically the backyard of american imperialism. for sure. they are looking to mimic el salvador and adopt a big point standard, make big coin legal. they have of course, as you point out, a huge reserve of assets. but the thing about the big coin price, like any free market, it can simply make that adjustment and the price would go higher. there's no limit to how many of the $100.00 trillion dollars, let's say, in the global bond market could be absorbed by bitcoin. right? yup. the question have you had a change of heart? because the last time we spoke about big coin, you seem to be ambivalent about it if slightly negative as there been a change in your thinking,

know anything even more negative than before. the reason the central american countries i'm thinking is going to save that money, not in dollars. what can we do in a way that does not offend the united states because we're talking about a client about like our basic way, our remaining in power only under u. s. support. so they can't really buy gold because that would be viewed as doing what china and russia and other countries that are not friendly to the united states are doing. so, united states is quite happy to see them and invest in time for one thing. as this builds up, the price is going, it enables, was pretty speculators to make a large amount of money. and at some point, if these countries ever spend, it'll push it way down and they'll end up losing their money. and the united states is not averse to other countries, losing their savings, it reduces or ability to be well on like any other asset and history

with bitcoin, it is in fact without any equivocation on confiscated. will the united states, if they sent in the marine corps and they sent in the pentagon, could not take el salvador is bitcoin away from them. and they don't need to sell big coin ever. they can simply loan it out and use it as a reserve to finance. for example, bitcoin city, which is a project that they have in mind. they are building hospitals using this as a strategic reserve. the i, a map is against them embracing bitcoin because they pushed the map out of business . and the very thing you talk about and super imperialism about us institutions using debt as a weapon. i don't see how this is going to be the same, favorable by the super imperialist, over at the i m f or the central bank around the world. there's a huge disconnect for me. can you explain more? what am i missing? well,

at least leaf unfavorable. what else there are countries going to do apart from buying go or buying security? what on earth and they're not able to buy us businesses because you know what they're going to layla on venezuela drive that they there's really not much choice for them to do. and buying but point is not a threat to us. money is something independent. it's a different game. those use a lot of energy, as you pointed out, huge. it does not be, it's not environmental lake conservation list. i think the u. s. things well, there could be worse things when, but all right, just to be clear. the geothermal energy that all solved are, will be using to mind big coin. what is a fact stranded energy or energy that being is its,

its eco logically inert, that it has no ecological footprint whatsoever. as a matter of fact, it pulls away from those industries that cause ecological problems. also an outside the door, the economy is set to grow and their carbon imprint footprint is said to decline again, that goes against those people that have been supporting the white elephant projects on climate change. we're finding out, for example, in great britain that the wind energy projects that they've built over the last 20 years are becoming useless because something like less than 10 percent utilization last year because we have a collapse of actually the wind flows around the world due to the ex, credible pollution that generates by 8000000000 people around the world. so again, help me understand, you know, here's hillary clinton. she says that big coin threatens the role of the dollar as reserve currency, the bite administration warning,

big coin made sanctions difficult to apply to nations like iran. ok, you can do transactions with iran and the u. s. can stop it. you can save your wealth and big point and the u. s. can't stop it. i really don't understand your point in terms of this is something that the us would encourage that if the funds, the dollar, it's de monetizing gold, gold is being sold and being channelled into bitcoin in the monetizing goal as the monetizing the dollar. how can that be good for the us dollar had gemini, doctor michael hudson. one thing the united states spears more than anything else is losing, as other countries going on, the goal of losing the power that the u. s. gold stocks still has. and joining basically going on gold would make part of the china russia around the the socialist

embry alternative and anything that is not gold is less of a structural threat the united states. is there any manner up thing, but that's categorically false. anything that's not gold, in this case with big coin by de monetizing goal is not only is it a threat, but it's an extinction event. this will put an extinction event on us dollar gemini because it's a 100 percent pure monetary signal. whereas gold at at most might be 80 or 90 percent monetary signal. this is 100 percent. mano this is, this is, this is kryptonite to america superman. this is our vulnerability, dr. michael, i mean, i think we're getting very close to we got to take a we gotta carry this over to part 2. that's what we're going to do. but for now, thanks for being a kaiser report. and the b. r. i not going to do for that as part of the kaiser paul with remax kaiser and stacy are a special guest. doctor michael hudson is i was the 3rd edition of the classics,

super imperialism, to hear it till next time by a back breaking, toil forced labor stress . industrial injury. corporal punishment. oh no. words with which we're all

familiar. are you certain that the world you live in abolish slavery long ago? ah ah ah ah ah, ah, a ah,

i have often said transparency for the powerful privacy for the bell. this cares about privacy or people care about is power, tuna sanchez, become a symbol of the battle. the privacy information is power. that's what's going on in the world. a huge struggle with governments and corporations to want to keep information secret and others who the democratic rights should be pushed forward. and people have a right to know what they're going to watch. how assange helped shift the conversation around transparency and come see what that battle has done to him. i feel like children's life might be coming to an end. we are in a conflict situation with the largest, most powerful employer in such a situation. it's remarkably civilized.

who the presidents of russia on the u. s. whole crisis talks triggered by tensions in ukraine. joe biden raises the thread of sanctions against moscow, while president boatman calls for diplomacy and slums attempts ikea to undermine peace. and also had a gunman is arrested in southern moscow after killing 2 people and injuring for others in a public services center. a process, slums, the indian for trying to enforce supposedly inclusive language. like ling, it's actions to the quote nazi dictatorship ah .