max kaiser, this is the kaiser report. we are in mexico city, heading south the el salvador. the savior are adopting big point standard. probably mexico will do the same thing a couple years. but let's check in with stacy, stacy macs. the last episode we talked about the inflation and inflation propaganda . inflation has stolen the news. i think this is going to be the big 2022, thim as our guest, john will be set at the end of the last episode and you continue on the beam and the 2nd half of this episode. but i also want to say that the population of america agrees with maxim, stacy, they also believe, in fact, 2 thirds of americans polled disapprove of how biden has handled inflation. that makes sense because he's throwing gasoline onto the fly. fire of inflation and people don't like that because they're already getting burned by inflation. why are

you doing that, jo? jose and an arsonist is like, oh, there is inflation burning down the economy. let me throw gasoline on to it. or is it actually, you know, drop it off? i don't know. i'm joe biden. i'm crazy. well, are you saying that he's like putting on the fire fest of 2022? remember that ramshackle fire festival that happened a few years ago before the pandemic long before the pandemic? so you know, you're vague memories might come popping up about it, but the fire festus will kind of like, you know, the promise is that all this money printing will be great at all of the fab. it'll look all like all of these instagram stars are all going to be rich. we're going to be living off or gains, and then in fact, when you show up at the fire fast, well, you're poor. exactly a slice of bologna and to me all the pieces of bread and like

a jam packed into a trailer with 30 other people, that's not fire fast. that is the sign of the call on to me in collapse. you know, the other thing about the economy and collapse is the story that we've been talking about here in kaiser report for quite a few years. is this the destruction of the price signals. and that this is part of the underlying mis allocation of capital, which has caused all those precarious situation. and how bit quite fixes that. but what used to fix that was gold, and we had gold bugs, and we have bond vigilantes, the bond vigilantes were taken out back and taken out, you know, by the fed and quantitative easing. so there are no bond vigilantes anymore. then you have the gold bugs, but the gold bugs also got taken out back and destroyed. they are not allowed to send any price signals to any participants in the economy. and so i'll look at

a story about gold that is remarkable in this age of a fire festival economy where everything is hollowed out for a real. it's not that instagram slick snazzy sort of lifestyle brand, but we're all great. remember that's the american dream. and the reality is the moldy sandwich with a few pieces, a handle between the same thing with gold. so gold used to be that the number one price signal, whenever the price of gold went up, it was telling us that was signaling to everybody in the economy that inflation was coming, or deflation. the fed was out of control. the government spending was at a control, it was telling you a lot of important things well today and our economy in this new economy investing in lego more lucrative then gold studies suggests market for a 2nd hand. lego also rises that a better rate annually. and stocks, bonds, stamps,

art and wine. this is according to a study by researches at the higher school of economics and russia, and they found that the market for 2nd hand, lego rises in value by 11 percent annually, which it says is a faster and better rate of return than gold stocks, bonds, stamps, and wine, right, 11 percent annually, it's almost matching the money supply growth, which is about 15 percent a year. so it's getting close to matching the inflation rate that's really being experienced by folks. and because it's free to trade and there's a big robust market for these 2nd leg product i assume on e bay and other sites, it's finding the price that will satisfy the market. and the market is looking for ways to hedge against the rising inflation or the debasement of the currency gold for some reason, all we know the exact reason is it hasn't moved more than one negative 3 percent

over 10 years. it hasn't moved at all because all the monetary premium is being sucked data. gold. people would rather trade leg goes than the own gold. gold is just simply not attracting any monetary premium whatsoever. plus there's no legitimate price discovery and gold, as you said, the gold vigilantes like the bond vigilantes or systemically methodically taken out of the picture by the central banks where they're derivatives and their money printing. but nobody's in the central bank if they could figure out a way and they probably will. a lego toy futures contract, that if this lego gets big enough and the price, they don't get strong enough to tell people that the monetary situation is out of control. expect wall street to come out with a leg features contract and for it to be naked short down in price so that they would kill the lego vigilantes as they were. but right now, because it's not quite a big enough market, there is no futures contract to kill the lego vigilantes who are out there buying light goes and showing that the monetary premium of everything in the system is

collapsing in the face of the super cycle in inflation well, i might add just for clarity on that sort of situation. leggers are mostly in the hands of children. and so i think the children would be able to prevent a sort of using the derivatives market to short the price signal sent from from like goes just like bitcoin, everybody thought, oh, these futures products are merging and this is going to crash. the price of bitcoin, just like it crash the price of gold and suppresses the price of. but what if lego comes out with a toy that the lego version of a futures exchange for? actually pretty be trading their own lego on their own. lego futures exchange to satisfy their own hedge against inflation because they noticed the price of baby food is going up faster than mom and dad can afford. so it could be very meta, nonsense, totally meta totally met averse. and again, i won't say that, you know, they've tried to do shenanigans with bitcoin,

but because the underlying collateral is held by the individuals who hold the big coin private keys. and so with goals, you have the central banks own the vast majority of it. that's why they're able to do what max is saying there, that they could suppress the price signals the same with bond. how they destroy the bond vigilante is back in the eighty's we used to have and ninety's where you stop on the land. and that was that they would force interest rates up if the government was spending recklessly. and that's because at that time it was considered something that was beyond the pale to do something like quantitative easing to monetize the debt. there was this notion that that never happened in the united states. well, it took to put this in the context that the follow up on your point there. so up until months ago that buying of bonds to control them from going up and price was called by the central banks and policymakers deflation. and they would say, look, there's deflation. and we need to keep rates low and give 0 percent loans to our

friends who buy assets like apartment buildings and stocks and bonds and get fabulously wealthy at the expense of all the money. and what a better attention account earning interest, right? they still $5000000.00 from pension money to guys on wall street. and so that's what they called the place was when they were purposefully buying back bonds to the degree where the interest rates are not allowed to result it be impacted by the true market forces that would have told us about interest rates being a lot higher, a lot sooner until about 6 months ago when that ability to suppress the inflation was got out of control and started to show up and people said was transitory. and then though it's actually permanent or on a singular multi year basis. paul crooked, but at the new york times that it will show me a callback. he said i had no idea what's going on. i'm actually, i'm giving back my nobel prize because i'm a colossal idiot. he actually said new york times, i have no idea what's going on. so that's what we are just so you see how unusual

the whole situation is in which the leg goes, are the only free market available to wide sector of the economy. it's sending a price signal is matching near matching the inflation and the underlying money supply. not counting last year of course, because last year we'll all collectibles like baseball cards and lego things like that are all skyrocketing and price. you know, tom brady's football, where he hits 600 completions. i guess was the football. it was worth a 1000000 instantly, and i got it back for half a 1000000 and all these types of things that shows you the true nature of what's happening. that's a price signal because there's no football futures contract available to manipulate the price in ways, but policymakers and paul crossman can claim it doesn't exist. yeah, and it's all like unique little individuals is one guy in the audience who captures the ball. there's that one ball so it's not like the fed can control the price of

it and like prevent it from sending a price signal. but you can see in the next chart how much they've controlled price signal that used to be the ultimate price signal. and that's the price of money the interest rate. after adjusting for inflation, the 10 year treasury yield has moved down to negative 5.4 percent is lowest level in history limit. well then did actually point out in a response for this that it's not the lowest in history. it's the lowest since $941.00. when we were in the midst of a global war, you might have heard about right there. failure to allow bond markets to reflect true, market forces as resulted in a bifurcation in the economy, where the most corrupt car rewarded for committing crimes. j. p. morgan being a prime example. and if you have morals or ethics you're penalized. if you're not out there still stealing and loading,

then you're going to be homeless. and that's america today. but is that because plunder became a way of life monitor, became aware of what plunder is seen, like when it's not just like you know that when they're interrupting those price signals, that's plunder. yes, that's a way to plunder your savings, your wealth, your time, your work that's it's plunder to, to suppress and to manipulate that price signal of the 10 year treasury yield of gold prices of the prices all around you. i think it's a, it's a way to steal the most valuable thing you have. and that is your time gland, of the crux home with a thieves, america. quickly and the last many here i guess we'll try to get to this. the 1st break when future ctf raised over $1000000000.00 in his 1st 2 days the fastest. and e t f has never had that mark. it's down 19 percent as launching versus a 9 percent decline for bitcoin. why the differential contain go where bitcoin

features price is greater than spot causing a negative role yield. ok, well they launched a product that we had jack mahler, parents on to discuss this. and i explained to mr. milers that this was a horrible product that it would all straighter the discount to big coin that it was not suitable for retail. it's not suitable for anybody. and it shows the wickedness and the corruption of the fcc. he pushed back on this of course, because he is the future strider in chicago and what, but i was right, mr. wallers. i was right. you were wrong. well, the thing is, it's, it's being marketed at retail. it's really something just for professionals who are genuinely hedging something. this is people think they're getting exposure to bit quite price, but they're not. and the fcc gary gansler refuses to approve an a spot e t f, which would have done that. corruption is the short answer, and we're going to take a little bit when we come back much more coming your way. ah,

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multiple engines or mac, i connect to. so that gives you how most of the shows a symbol. so this is a year back in a book and i said, who is a philosophy on how i need something to say do what i'm saying that a good my i what i can i maybe maybe i'm maybe even

a oh a the me welcome back to the guys report i, my guys are time now to return to our conversation with john robina dollar class dot com. john, welcome back. in the back next. now in the 1st part of our conversation, we outlined really what's happening in a way through some of the nomenclature and words being used by the popular finance

press to opt to skate. what's really going on? they use words like the flash on a really mean inflation, and they use words like debt when they really made money printing. we're in an m m t environment. they're going to print themselves to death and draw into a war. that's pretty evident at this point. but the question that we left on is how do you play it? how do you invest in it? so if we're going to construct what's called a benedict arnold portfolio, or a portfolio of stocks and bonds and investments that will do well in the face of america's policy makers selling out america and ignoring the constitution and violating every law under the sun. how do we make money doing it? the obvious choice would be gold, but gold? israeli looking horrible. what's wrong with golf or am i missing something? jon rafino, max you, you're missing something gold is doing exactly what it's supposed to do. it's supposed to protect purchasing power in the face of a depreciate in currency, and it's doing that. you know, gold was $200.00 and some dollars at the beginning of the century. it's $1700.00

and some dollars right now, which means as the dollar has gone down in value, gold has gone up in dollar terms doing. it's doing exactly what it shit. and the way the precious metal cycles usually work because you gets modest increases while people are trying to decide what kind of world they're living in. and when they finally figure out that the cycle is inflationary, and they extrapolate, you know, 4 or 5 or 6 percent inflation and to be enough in the future. then gold and silver have terrible explains. and so we're still waiting for that to happen. and precious metals and you know, it'll happen so, so precious metals are the thing to be in, but there are lots of other, it's to be now to, you know, the universe of real assets that governments can't make more of and therefore can't inflate away. it's a pretty big category and you know, farm land is there rental houses or they're criptos now,

or they're really for the 1st time in a meaningful way. so, you know, you can construct a portfolio. now in the crypto space that have, that has been coin, you know, at the, at the base. and then lots of companies that are springing up with various kinds of block chain related products that might be your growth stock. so you could do a crypto portfolio from beginning to end, that would probably do well in what's coming in. you know, i personally, i'm more precious metals and mining stocks. but you know, i'm kind of at this point looking to diversify a little bit further. but anybody who's just getting into this now has a lot of options. so that the real point being but yes, the world sucks right now and you know, we're heading for chaos in so many different levels and so many different places. um, but each of those terrible things are pointing to are also an opportunity. you know, the flip side of a crisis is an opportunity. and if you,

if you identify the opportunity you by definition have a chance to survive the crisis and maybe even profit dramatic with it. so miss, you know, it's not going to be a happy time for most people, but it's potentially a really profitable time for the people get this right. you know, watch the movie the big short. and you get a sense of what that's like. so people identified a gigantic. how's it bub housing bubble? when nobody else saw it, they play some bats, they were too early, they lost money. but in the end, what they thought was going to happen happened and they made like changing fortunes that's out there for people who get what's coming this time around. so not only is this a chance to make a lot of money by getting this right, but it's also a chance to psychologically get through this. because if you focus on the good things that can happen to your investment portfolio, you're not as obsessed with all the horrible things that are happening in the world . and that's, i think, a way to, to survive this in good shape mentally as well as financial. but there's something

wrong with golf now give it to data points. number one, the real race which is extremely negative at the moment is even more negative in real terms. and it was during the 19 seventy's when gold made that spectacular move, that it did up to the $800.00 levels up from under, under a 100. and the other data point would be that lego, the plastic toys that people, as kids play with that out performing gold as a collectible. you know, kids, plastic toys, something is wrong with goal john. i mean, i get your point that it's holding its own against, you know, purchasing power and all that, but something's very wrong with golden it. what's wrong with the whole job max, there's absolutely nothing wrong. you know, bubble, economy, all kinds of things out, perform safe haven assets. you know, that kind of cheese right now. there's a, an art gallery that just sold several $1000000.00 worth of an f t on art that

hasn't been created yet. my but that's all with an outright fraud and teaser outright fraud janet. all right, fraud. which i mean i would say that the pricing of gold isn't that right fraud. and so same thing with n f, g 's. you know, as far as the big chart goes, which was a great movie, and there were bankers on wall street that made a lot of money profiting from the collapse of the housing market. it's not like everybody didn't see it, or a lot of people did see it, but a lot of people chose not to participate because it's a moral. right. so are we saying that if you have any morality of ethics, you're going to not survive at all in this, in this economy? no, i'm saying the most ethical thing you can do is protect your family by betting against an unethical system. so that, i mean, i don't want to go on a tangent here and a, but isn't that kind of can making the problem worse if everyone thinks by way

you've got a society like boss, the talked about it and when fraud and, and loading become the norm everyone is engage in fraud and looting. when you say that the top it's in the entire society when i got it. and i see people rating the wal mart and, and target jobs and going over to a beta sol, the stolen goods and making money on their thievery and has become wholesale and industrial and scale all over a country because they're mimic and jamie diamond. they're mimic and goldman sachs are mimicking the n f t fraud. or is that a good thing? oh, and that's the thing you should be betting against. i mean, gold and silver, and possibly this time around, bitcoin are honest forms of money. so to the extent that you move your finances over to those platforms you, you are acting honestly in opposition to the dishonesty that now rules be economy. so i absolutely don't think shorting this market is in any way kind of and i think i'll say, but you know, we have time there,

there is something that we could explore on this on, on the snow because when you bet against something you do have kind of a, an ambivalence about that right? because you're better a on, on bad things happening to somebody. so via the way you rationalize that to be a short seller is if you cause a bad thing to happen and you profit from it, then you're unethical. but if something is going to happen, no matter what you can't stop it, there's nothing you can do about it, but you didn't cause it. you're in a way, morally obligated to bet against it, to protect yourself in your family. and that's what's happening now. we can't stop the crash that's coming and we didn't cause the crash. it's inevitably coming. but what we can do is bet against it and profit from that. well, why not push back a little bit on that? because one thing that everyone can do to erase these arbitrage opportunities, where are the top 110th of one percent seem to get richer by the minute? is to insist on higher interest rates, right?

because the cost of borrowing money to commit fraud and injustice is very, very low, almost 0 as we are saying. and part one of our discussion, you know, everybody progresses, right? wingers, whatever your political affiliation could come out and say we need to raise the cost of financial terrorism by raising interest rates to a normalized level of around 4 and a half to 5 percent. so that's everyone can lobby for that so that we don't have looting becoming the de facto business model of america. john. yeah, they're not going to give us that. i mean, we can, we can ask for that's, but we can't get it. but what we can do is buy bunch of silver coins or buy some bitcoin or, you know, look at some defy companies that are profiting from the rise of criptos. and by us, you know, those are things we can do, rather than things. we can just la before, so i would say let's do what's possible. and while you know that's not mutually exclusive, you can still ask for higher interest rates. but as you said earlier in a modern monetary theory,

world of interest rates are kind of irrelevant because death doesn't actually exist . you know, the fan could buy a bunch of 6 percent bonds off treasury and then rebate, the 6 percent interest to the treasury. and so we would have 6 percent interest rates, but we would still have effectively 0 interest rates for the government that don't never give us high interest rates because that blows up the financial system. so interest rates will stay low until the market forces interest rates out, which is not something we can control. so let's take a step back for a 2nd and you know, you and i have been in the game for a long time. so we can think back to the seventy's and eighty's when the ada, the different cycle was in play. but the millennials and the jans, they, they do not have that reference whatsoever. they've never seen a down bond market ever. they haven't had any difference. then. this 40 year bull market in bonds, for example. what would you tell those millennials and jen z? how to prepare themselves? because not only is it gonna, it's one thing to say, well,

academically we can say x, y, and z. therefore, we need to do this, but emotionally, it's going to be tough for them. i would think. what do you, what do you say, john? i would say you can't tell a 25 year old anything they had to have to learn the lesson. sometimes when a 6 year old says, be careful to a 25 year old, i may just say ok, boomer, and then they go on to do whatever they want to and you're right. they have never experienced a real bear market. all they know is the tech stocks go up forever and houses go up forever and you know, big coin was $0.45 and now it's $60000.00. so that's what they know. and the only way they can know anything else is to experience the other side of the cycle. and that's something we all have to go through. right. mean, i think every one of us was an idiot. 25 year old at some point. and yeah, it's going to be brutally painful for these guys in a way that it hasn't been for previous generations because they have robin hood right now. a lot of these kids are out there. trade

a including one of my kids and the training aggressively in things they don't understand and they're going to get burned big time at some point. well, you know, but that's the cycle of life. you make your mistakes in your twenties, you kind of think about your mistakes in your thirties and then you, you become here, going to become in your forest. so these guys have to go through god, there's nothing we can do to help them other than make as much money as me can. so we can support the millennials who are close to our scoring forward to help them get through what's coming. well, it seems like the politicians think that they can buy these votes by promising incident spigot a free money. but i think what i'm hearing from you is that the cycle is coming to a close even as soon as the 20 to 2022 elections. we, they won't have that option any more of the reality will offset and we've got about 20 seconds. i think some decisions have to be made in 2022 that are going to be very important going forward. some of them could cause a crisis right away. some of them could set the stage for crisis in the future. either way. here, coming up. all right,

the legend john robina dollar collapse dot com been writing for years about this stuff. been right on the money. and now that's a we gotta get some timely information. thanks for being on kaiser report. thanks banks. all right, that's going to do it for this edition of kaiser report with may max kaiser and stacy herbert bar thing. i guess john robina, until next time, by y'all ah, ah, ah ah, in a city don't get it in as you don't to stand together. looking to stand together against russia eve in germany with some of the errors that we dive this made. say, notice if he needs assume you don't care about their billing influence. other

nations, france, u. k. and even latin american and other countries just then maybe they went to high, wrong cycle alone with members of your household. please, please, please, please. we have to continue to fight with russia must not be allowed in germany. i don't want to call them, leave it to show us. so being out enough. ation 5 of the yes. and then add enough missiles guns until sunday. for right now, there are 2000000000 people who are overweight or obese. it's profitable to sell food that he's fatty and sugary and salty and addicted. it's not at the individual level, it's not individual willpower. and if we go on believing that never change is obesity

epidemic. that industry has been influencing very deeply. the medical and scientific establishment for what's driving the obesity epidemic. it's corporate in mm hm. in with, in central london against a raft of new anti coven measures as daily infections in the u. k. reportedly, region, all time high british supreme court rules, it was unlawful to drop an inquiry into the alleged torture of 14 suspected ira members by british soldiers. one of them told us what he had to endure with this