in 2013 my uncle, our family dog, my brother, who was 21 years old, myself and my father were all diane, rob, problem with black hole and the good player. right? yeah, yeah. maybe they'll actually learn that more help is more important in with

ah welcome to the kaiser report, christmas special i max kaiser. i'm here with stacy herbert device vicious, the intelligent, the all singing, stacy herbert, and our special guest today. the only the legendary mitch fire style author of planet pansy. mitch. nice to see you. happy holidays guys. i hope all is well happy. kwanzaa. happy. christmas. happy mary. new year. the whole lot of good. great to see you guys, mich. first of all, did you eat in china town for christmas day? that was a few days ago? no. actually i didn't get to chinatown, because chinatown and one bit. every time that i've never had experience. 24. all

right, well let's jump into this episode. we are in christmas week here between christmas and new year. we're pretty recording this a little bit because of course we're all living the life of riley. i know you've been in the caribbean, you've been in switzerland, you've been in italy, you've been traveling around the world during this pandemic having a great life. but one thing and perhaps during all your travels, you've noticed this because in 2021 looking back in the year, that was the h word got mentioned 1st by the likes of michael barry. but you know, that stayed in the whole financial sector. but then towards the end of the year in october, we saw a c, e o jack dorsey mention the 8 toward which is even worse than the c word, and that is hyper inflation. this triggered quite a few economists. it triggered the treasury secretary herself, jenny allen,

who said inflation was under control. so what do you feel about this word? hyperinflation now becoming mainstream? do you think from place is going to happen soon? it usually happens suddenly, right? so it's 2022, possibly a year that that can happen. it's like, you know, you're walking up a staircase slowly, slowly, slowly and then you get pushed down the elevator shaft. the result is catastrophic and it happens within minutes. so it's a similar type of situation and as far as jack dorsey, i've been suspended from twitter, but it's probably the only thing that i would ever agree with jack dorsey on, is that we have hyper inflation. and you know, if we have a chart of the nasdaq, if you pull it up, you can see the hyper and play inflation in the way that asset selective asset prices have absolutely exploded, which is made to currencies worth last, you're buying lesson currencies and everybody out there knows that there's hyperinflation across the spectrum. i mean, you know, look at oil prices,

for example, another chart. you can see that it's well in the triple digits it's, it's absolutely screaming. and the talking heads have been wrong. the central banks have been wrong for several decades. janet ellen said we'll never see a crisis in our lifetime. another one in 2017. she's also come out and said, i'm going to have escape velocity. we're going to raise interest rates. but you know, you can never taper upon the scheme and they never did all this infiniti temporary emergency madge measures that started 13 years ago. and they're continuing right on to today. we're the 5th is buying $120000000000.00 worth the paper every, you know, a continuously. so they're filling the, the back cockers with money. we're seeing that the outcome in the stock market. the stock markets are searching. and the reason why they're searching is not because of

productivity. we've got a chart, goldman sachs stock, which illustrates what's been going on in the stock market. it's a buyback fever because the banks can borrow money and all the corporations borrow money at near 0. there's a true over to going to be over a trillion dollars and buybacks this year, and probably more buybacks next year. but the debt is not a bad when it's used for productive reasons. but when banks go out and instead of bolstering their balance sheet, speculate by buying their shares back to pay to c o sweets we have a problem. stock buybacks are not a really good way to reward shareholders, or to build a value in the company. you need to take money and invest it in creating good paying jobs. not speculating on financial assets so this you can get rich cannibalized future earnings. so yes, there is definitely hyperinflation. we've seen it in the oil prices that have been going up for over a year and a half and nothing is going, you know,

it's nothing is transitory inflation is not transitory. it's a lie. people have to get used to understanding what there's no such thing. it's fake news, but we have it's an outright program of media dishonesty. it's totally dishonest. and, and basically what you need to do is be able to figure out on your own, what's going on, people, you know, the truth is upside down. we can't trust science. we can't trust medicine, we can't trust what the central banks are telling us are all our governments, their purpose. purposefully crafted is honest narratives, political activists, rather than telling people the way it is. and i think people are reaching an inflection point here. things could get really nice. this point, right, well miss, even as a 6 months ago, janet gallon echo the comments that fed chairman of may now for 15 years 20 years. that they have to keep interest rates low because they're fighting deflation. this

is the, the actual term they were using up until 6 months ago that they were fighting the flash and then therefore they had to keep interest rates. and of course, we've talked about this many times and we've been saying that there's actually stoking in place and it shows up on the asset prices. and it doesn't show up in the c p i because those numbers are fraud. as you point out, everything is upside down and including how they report the c p at the consumer price index. well, now we've got above trend inflation. we've got the actual reported inflation above 5 percent. so the answer to this, of course, is to raise interest rates, but this is not being discussed. i mean, this is what they were waiting for to raise interest rate. they were waiting for inflation. well, now they've got it. and it seems like the, the answer to inflation is the same as the fact deflation. the print, more money match it's, it's like if you ever watch the old peanuts cartoons by charles schultz where you have lucy, put the football down for charlie brown and say, kick

a ticket ticket. and then they pull it away. it's the same thing with you can never take for a ponzi scheme, just make little balls upon the sky when they say they're going to tape or they can't taper because you know, in magnets, hope scale and magnitude of the debt they would make in solvent. they wouldn't be able to service the interest on the debt. now, the bigger problem that we have is that you have earnings, crazy, bernie crazy. bernie sanders, the head of the senate finance committee. you know, just moral hazard means nothing to him and, and stephanie carlton is one of his advisors who created magic money training mat, modern monetary theory, just print print until it explodes. and that's exactly what they're doing. you know, you saw last year or this year in the middle, the year were early said that 6 and a half trillion additional stimulus is, is the minimum that we should put out there. if you think about what's happened,

i mean go back to jesus, come back to 998. we had the 1st, the 1st bell out. and 1st case of moral hazard was when long term capital management got billed, billed out, and that was $1000000000.00. and everybody thought that was the end of the world that was in $98.00 or $99.00. and then of course, after that we had, we had the dot com in 2000 to 2001. and if you see what, what happened with that? i mean, that went from 5132, all the way down to around 1200. and you know, it was up the staircase and down the elevator shaft and then then they build out that will be creating housing bubble. it took 15 years for the nasdaq to retake that $5132.00 level again. and then you know, going back to the hyperinflation. it went from 521-5000 higher than you know, higher and higher than 15000 in a matter of 2 years. so think about that, that's,

that's exponential. and this isn't because people are going out and spending or earnings, and they're making productive goods. just financial ization and this is inflation. this is us dollar to basement. so you know, the dollar is going to collapse. us dollar gemini is going to be finished within the next few years. i mean, a perfect example of this insanity is hurts the hertz corporation went bankrupt in 202021. and when they were bankrupt, the momos on robin hood push the stock of a bank or company, which means this equity is worth 0 up to over $60.00 a share. and then i said, oh, let's issue some more worth the shares. and the judge said, oh, you can't do that. so that was an example of how insane the pricing is. now, after a couple months in bankruptcy, hurts came out and said, ok,

well now we're going to buy $100000.00 tesla's. so they're going to spend $4000000000.00 on one 100000 test was maybe a little over $4000000000.00 and announcement came out. you must p r team had the price of a test for the market cap, went up several 100000000000. so how is that proportional? i mean, we just have stuff trading in the stratosphere. that's absolute lunacy. so this is definitely going to end badly. it's worse than 1929 to 1999. combined. valuations have never been stretched in the history of the planet. no, it's not different. this time. it's not different. next time it's never different. and this is going to end exceptionally badly for the people who are a lot of these trillion dollars on be companies. so speaking of the price signals, i mean before, even the see where it happened. and the pandemic and locked down followed, and the stimulus checks and the trillions of dollars printed. we already saw, we saw negative interest rates. that's not what's happened had never happened to

thousands of years of human history. then we had negative oil prices, trade for a brief period right before the pandemic head. then now during the pandemic, we've had trillions of dollars given to people who don't have to work. that has perhaps happened 1st, some aristocratic classes like pre revolutionary france, or maybe ancient greece, right before they collapsed, where people of the empire didn't have to work at all. but they've been consuming massive amounts. and we've seen that like extraordinary price action as well. with container ships, we saw use car prices go above new car prices for 2 years later your car is worth more than you bought for it. so these are just like extraordinary sort of numbers, but we're heading into a mid term election in 2022 in the last minute. in this 1st half here. what do you have to say about how are they going to be able to print more money? do you expect more stimulus? is that going to be possible to pass? will it pass?

of course, the more they don't have any, any other choice the box themselves in they might raise rates, but then they're going to realize it's a policy mistake and you know, it all break and it's gonna be, you know, the end, the end of their time has never been tight, but all the people who are trading smart trade, large portion are jar young and they've never seen what's called the baron market. and they believe that the central banks role responsibility is to bail out their bad position. and that's not the central banks job. the central banks now believe that that's their job. baylock's for billionaires and everybody else at the cost of middle class to the cost of everybody else. and this is why we have record wealthy, the quality that is getting worse and worse and worse until you have the fabric of society being torn apart. and this is tribalism that we're seeing right now that they're trying to make worse. we're trying to get people fighting each other while

the greatest economic plunder industry. wow, this is exciting. let's take a break. when we come back much more with much fireside author plot policy. don't go away with all those driven by trainers shaped by some person that those with there's things we dared to ask in a test bed for medical and then later recreational marijuana and it started with something so innocent. i was

wanting to socialize. everybody. does it? so why can't i and then it just keeps going and going and going. i'm just going to do it one minute. i'm just going to try this once. never do it again because they want my phone and i read on inside. ok. and you surround yourself with people who are encouraging you to do it not to stop or if boeing my life was over, jumped officers off the balcony and died. mm. he knew he just couldn't stop with the me. welcome back to the kaiser

report on that. graduate stacy special guests, mich firestone for this year end, blow out special. hey minutes, let's talk about 2022. it's coming up pretty quick here. what are your thoughts? what are we going to see? what are the major trends, you know, i think we're going to see more more buyouts, more stock buyouts that should be illegal. i wrote an article about american airlines in their equity buybacks in 2021. and you saw that what happened was, i've never seen this in my career, whereas the ceo of american airlines went out and he spent about $15000000000.00 on share buybacks. and he paid himself, he was paid entirely in equity. and i've never seen that happen. so the stock price went up, he got paid, he banked over a $100000000.00, and then he had to since the balance sheet was so weak, when the c word happened in march and they didn't build the balance, she said they were speculating on share buybacks they had to go hand to the

government and get what a $20000000000.00 bail out from the government and had to sac most of the employees . so he and he stole the senior. so there's no penalty for taking massive amounts of risk. this is a problem and now they're allowing the back banks to do buybacks. again, it started in, they had a bumper buyback year or 2021 because offense that you can buy a limited amount. yeah, well i don't know what limited means, but bank of america was in there buying at least $25000000000.00 worth of their own shares. so the prices of all of these financial companies are, are hitting record new hire because they're borrowing money near 0 or 0 from the fed. buying shares backs and taking massive bonuses because obviously when your share multiple goes down, you get to pay yourself. so why would that, why would that stop as long as the money keeps coming from the fed, and this insanity goes on, but i'm telling you, music will stop, it has to stop. and when it does, it's going to be mighty ugly. in the meantime,

the party is rocking. it's been rocking since 2008, 2009 and the financial crisis. 2021. we saw you've on mosque start the year worth about 80000000000. he ended the year worth. about 300000000000. we saw a lot of those billionaires, jeff bezos raked in tens and tens of billions on the asset price increase of stock . you know, stock ownership of amazon, for example. so, you know, since 2008 during and q we and the intervention on the markets. we saw since by the 1st trillion dollar company. that now we have many trillion dollar companies is 2020 to possibly the year that we see the 1st individual trillion error happen. like we might have as many as say, venezuela as bob weight by the end of the year. well, yeah, i think what will happen very quickly, i think that way you'll have is a currency collapse and currency crisis. so, i mean, even though that are a trillion, these companies are valued, you know,

several trillion like apple was approaching 3 trillion dollars. is any company worth that? no, it's not in any history we've seen happen or vendor quickly distraught. and you know, this is our markets work. i mean, this is just all on the basis of irrational money printing. and people need to realize the central banks are responsible and caused the problem. the problem is, is the tall tissues are the same, the republican party same as democratic party, and all they seek to do is cause tribalism. and so seeds of discord between different people. so they're fighting all the economic plunderers. yeah, a st. some experimentation going on, of course, buying back their own stock used to be illegal. then under reagan, it became legal and it's been totally abused. as you point out, we saw negative interest rates on the sovereign debt, which is almost nonexistent in financial history. now we've got a new experiment on the horizon. this is a new for me, and i'm a kind of store of all of these types of fen dang. you know,

financial was bank products. they're gonna try to tax unrealized gains meant, what do you make of this? that's insanity. i mean, you know, it's just another gimmick, so that it looks like they're doing something, but, you know, i'll tell you what it appears to be. you know, you seem like the, the weapon is ation of government agency. the weapon is ation of the weapons. ation of the i r s. where they threatened in 2021 to look at $600.00 per person, which is ridiculous. did i have to hire $5000000.00 people or more to look at the $600.00 cash transaction over the period of year in the bank account? you know, the drug administration is cdc. all of these agencies have been recognized and what they're being used for is to, to go after political enemies to disagree with the popular narrative of the established regime in power right now. and this is a really dangerous time in history. because if you disagree with the narrative,

you get sent certain shut off and cut off on twitter. and it's a bad time when stuff like this happens, bad things happen. and when you have extreme valuations, bad things happen. and that's why, you know, i think that the population in general was lost trust in the media that should because you know, it's outright dishonesty. it's not new. we've had dishonest price signals, they've squashed all of those. and now it makes sense that they would, after the price signals have been tamed and destroyed and silenced that they would start to silence the people. but there are still, you know, some price signals that they can't hide, like the value of your cash. right. and you see that in that increased was going up an asset prices obviously you see you 4 people love it. just like early days of weimar germany, people love their asset prices going up a year. you spent a lot of your time in the u. k. you think the british pound this year could break the buck? it started the 2008 financial crisis at over $2.00 to $1.00 pound. now it's down

closer to a dollar. it's heading down there. could it break the buck this year? i've been following sterling for my entire career, which has been multiple decades is as i'm sure you guys know. so look, if you look at the chart of sterling, you can see that sterling, the real collapse and sterling was when the bank of england an american king decided to print enormous amounts of money. and sterling dropped 34 percent on the left hand side of that chart as you can see. and then, you know, it dropped all the way down to to 138 i think was the low. and then it bounced around until they hired mark hardy. you know him climate change mark carnie now. mark karr, k x, goldman, x bank of canada. the housing bubble mark karney, housing bubble in canada. housing bubble in the u. k. he said we're going to have a state velocity in the u. k. and then sterling reacted that was

201314 you can see on that turn went up to 170 because he said it was going to raise rates. but of course, like any of the central bankers, it was a total lie because you can never taper a ponzi scheme. so then you saw when he didn't, he had to cut, they actually cut rates. and then sterling dropped back down to probably around 11 for the 4140 range and then you had breaks it and it was still around the 130 and change range, so breaks it really didn't impact sterling. i know that everybody likes to play and they like to play breaks it, but you've had sterling hovering around $138.00 area since the 2008 credit crisis. so there's always a crisis that they try to blame stuff. ha briggs, it credit, great. financial crisis. next will be the climate crisis. or next crisis will be a cyber attack russian cyber attack. but, but, but, but, but, but it's going to break the back. that's all we want to know. we don't need money.

yes. because what, what they're doing, what they're going to do is blame the collapse in sterling on another crisis. but it's not, it's because they're printing, like now they printed because of the c word in march of 2020 as driven everything much lower and the government's been printing more money. so when you print more money, it's currency basement. so sterling is way over value right now, and it's going to continue. i think it will go to parity with us dollar, and i think the us dollar will get slammed even further as well. i'm not very bullish on any currency at all. so this is the good part of this conversation that i think there are other asset classes that are grossly undervalued and remain gross, the undervalued, and i think people need to explore what those are and how to express those in good trades, where they can actually make money rather than lose money on buying something at the peak of a bubble when it's the biggest hysteria in our media. and when you invest in

a minute, you get till you get slaughtered. what goals make money, bears make money, and pigs get slaughter. and that's adage, you have to live by and you know, you look to find asset classes that are fairly priced under priced, otherwise you don't play right. and all this money printing, of course, has started a huge run in the commodity markets. as you mentioned, oil is moving up quite aggressively. we same lives in copper, we see moves and aluminum. we see moves and agriculture. we see moves and everything. big coin making new all time highs. everything is making a move match except the one inflation indicator that people have used for thousands of years. and that is gold. is the world just conspiring to make peter shift look bad? i don't know. i, you know, look i, i started buying gold back in june when it was 300 now, and i'm never going to sell that position out. but i think everybody needs to have

metals. i think they'll have their day. they're going to have their day when, when collapses, you know, will they tried to seize the metals like they did in 1900 thirty's, maybe. but you know, that's going to be a very hard ass, but i think we're in a very precarious bunch of levels and silver. i mean, you know, you were very bush and years ago i remember i'm, i've been bush and silver from 14 dollars. i think there are a lot of commodities out there that are under under price and under valued and as you get inflation, every single commodity is going to take off because it's not a matter of you know, when you, when you can buy any asset near production value, you have to buy it, you know, it doesn't matter if you think the price can, if they can manipulate the price, but you almost had exchange failures in certain products. you actually had delivery problems which it was several commodities. and i think you'll see that again, you'll have delivery problems with commodities in a couple of these. atf will blow up and people will understand that unless you have

physical assets to back something by it's meaningless and you know, the real game changer that i think we could see within the next couple years or not . we could, we will see it next. couple of years is maybe china or russia or a combination of these countries coming out with a currency that's backed by tangible assets like exchangeable for oil units of gold . copper, silver. i don't know maybe some crypto currency, but you'll actually be able to exchange it because current use back by nothing. i mean, what does the app i have promised to repay the debt of the sovereign that's issuing it. and when people realize sovereigns are more than over extended and can't repay their data or anything. well, i'm not going to buy that. where am i going to put my money? so i don't, it doesn't erode like in why my republic, your bubble and quickly for the last minute here before we head into the new year, we've mentioned michael berry, mike, sorry, was short bitcoin, he was shorting tesla. he obviously got whacked on those. he's also shorting us

treasury's. what do you see for 2022? is there any relief to this poor guy's positions? yeah, treasury trade. i mean, treasury whenever they go higher in terms of yield, i mean they're going to be a buy because it's the fed wife to come in and do you really infinity to bring the yields down because you'll reach a point where they can service their debt. and then they would either default or worse. so yes, treasuries are probably by sounds like he's gonna, he's hanging out that widow maker my ever like another carried out on a stretcher mom for that guy. yeah. one trick pony. that's it, then be went down the drain. all right, i was going to do for this. this guy's a report. max kaiser, stacy herbert mitch fireside, the ma squat. it's like sun by all ah, ah,

with the school is the child begins with a smile with water with cuz she made it with no, i mean, unless you put that amount with oh,

a good a 4 year old is caught in pepper spray. i believe breakup an unsafe vaccine march in germany, countries across europe facing on the rest ahead of new year. richard restriction. some parents in the u. k. q hospitals, all discriminating against children with down syndrome, a bit to pre op beds during the panoramic. we have from a mother who was off to find a do not with she did i well job is that's my son's life that you're asking what you should say or no i was down syndrome, but that's got nothing to do with whether shipping tight or not in the polling

shows that most us democrats now.