and talk with ah, i max kaiser, this is the kaiser report. it really is happening here in l. zante all salvatore. soon to be known globally as the home of bitcoin city and her witness sang the demise of gold as a monetary di, monetization takes place, stacy? yes. max we are in el dante, in the state of la liber todd, in el salvador. we are going to be here for the next few months as a super hot. we're going to get

a new look which is for the super hot weather. i speaking of super hi, i'm reading this book right here at kenny's kenneth naji, but book kelly and i'm reading it in the spanish language. so i am learning this learning spanish and you know, since we've been here, we've been in the news every day on the local national news and stuff like that. and i want to turn attention to a concept called the economic hit men. because lo and behold, the, the people who bitcoin were called charged with being economic hit man in the headlines here. and the headline reads julia. evelyn martinez opposes the economic development of the country and describes bitcoin errors, max kaiser and stacy herbert to seek to invest in the country as economic hitman. so max, you know, a few months ago they passed the lay bitcoin, the bitcoin law,

and this is attracted big pointers from around the world. who are, you know, this is like renaissance 2 point. oh, right. we're seeing the best and the brightest we're seeing were engineers were seeing builders were seeing artists were seeing all sorts of people interested in moving to l of are coming here. well, those from the old system, the legacy system from the fia system, are not happy with that. just the opposite of an economic id man. no economic man would load a country up one debt. warrensburg coin is equity, it's the opposite of debt. this is an equity for debt swap and those who are critical of the coin siding the economic good manners prescribed by john perkins in his famous book, confessions of an economic good man, r i would say being intellectually dishonest and or lazy. so you mentioned that you cannot,

mike hit man by john perkins. he has been on this program. he's a friend of the show. he's a friend of ours. so i did it once. we were called economic hitman. i was just totally shocked because of course it's not even possible with bitcoin, right? you can't load a nation up with bic, camine, and then, you know, take their assets as a swab. that doesn't happen as you mentioned as equity. so i want to read you a, a comment in made in 2015 from john perkins. what he describes economic hit men as max. he says basically, what economic hit men are trained to do is to build up the american empire to create situations where as many resources as possible flow into this country. meaning the united states to our corporations, meaning like united fruit company and our government. and in fact,

we've been very successful. so think of what you've seen out of el salvador for the past 100 years max. you've seen the resources of this country, coffee, cocoa, all sorts of stuff. agricultural products, leave this country, go to america, and the capital, leave this country. and importantly, human capital people, the individuals, the 3000000 salvadorans who left over the past 40 years from this nation to the united states. that's exactly what you would see. those are, those are the symptoms of being hit by an economic hit man. the opposite would be if you see people drawn to your country, people from around the world moving to your country. that was suggest the opposite is happening, that you're not the subject of an economic member. in fact you're, there's something different. yeah, it's the complete opposite using fia money, like the us dollar and using debt. us dollar based debt is extractive.

a big coin is a creative, again, it's the complete opposite of what is the definition of an economic hit man by the guy who coined that phrase and those who use this to disparage big coin earth and al salvatore. again, they are just grasping at straws. they are trying to grab headlines, they're not doing any kind of analysis or thinking about what they're saying. and though, as is the case in the united states, those who are public intellectuals have el salvador will go the way of not seem to lab or no real rubini are paul chronic men in the united states. they will be disgraced, they will be mocked. bitcoin will reveal them to be charlatans. it will happen in every country all over the world. yes, that's quite important to remember that this woman who called us economic hitman

is just part of a global class of whether it's co schwab or it's car stems from an existing karsten from the bank of international settlements or j pal, or janet yell in or wherever they are at christine legard, like there's a universal keynesian. there is a universal can tell in class county on class. so this is within the parameters of what has come before and she's part of that class . but in terms of like what we have seen here, where on the beach, you'll see this all sorts of beast action. you'll hear beach action, you'll hear some leg margarita, sort of mixes, blending happening in the background. and there are some waves. and you know, here are some people surfing shouting in the background. but over in that theat world, max, we've had a huge sort of rupture is happening and, and movements happening in the bond market,

the most important market in the world. and we saw one of the worst weeks in 506070 years happen. and on top of that, we saw in the news bill miller, one of the top, the 1000000000 our hedge fund managers in the world. so here's a quote, and this is from bitcoin magazine tweeted out this link to a interview that bill miller, who is considered an invest thing. legend bic where magazine tweeted about his appearance on cnbc. and what he said was a big coin has gone from 0 to 57000 dollars and 10 years. why would i own gold? so to those to say like peter ship, who says that gold will somehow, you know, survive while it was bitcoin, that with fail investing lead to bill miller told cnbc that and pointed out the obvious that in fact the gold has lost for the last 10 years that big win has won for the last 10 years and he expects them to win. that big win will continue to win

for the next 10 years. that's way half of his portfolio. he's a multi $1000000000.00 portfolio that that portfolio will continue to be at least 50 percent bitcoin, not gold. he owns no gold. right. well in terms of the bond market, the pack of the 10 year bond yielding less than one half of one percent. i think is uninterrupted, as we see, quantitative easing and money printing and everything associated with that will continue despite all the talk of taper. because of course, you can't taper upon the scheme. bill miller is a huge money managing talent. and so for decades of contemporary of warren buffett, he's got a 50 percent possession and bitcoin, and he's outperforming his peers by substantial margin. and he makes the case that brick coin is de monetizing goal. why would i on goal is done nothing for 10 years . big coin as paul did, or jones, as described as the fast,

the source and the race. and so that's the thing about money management you've got to perform at the end of the year of the end of the 10 years, you've got to show positive numbers. and you can allow yourself to be taken the way into fantasy land by what you want to be the story. you've got to respond to what is the story and the story is that big coin is de, monetize. in gold and professional money managers and sovereigns around the world and sovereign while funds and individuals are recognizing that and they're putting capital out of other vehicles and they're putting it into bed coin and the game theory behind that is of course, once we saw that on the individual level, now that the nation state that is el salvador has adopted bit queen as legal tender . what you've seen is now there's going to be a rece for a nation states to get in on a big coin. we saw micro sailor drive that in the corporate, a treasury level. now we're starting to see it on the nation state level. argentina

is now, you know, lightening strike dealt with jack mahler's. that was the 1st step here. and i'll, salvador, it was soon after jack mahler's and lightning came here and, and strike came here, that we saw the big coin law stopped in here. absolutely. the jack milers and the, the strike app built on the lightning network is, are the ground troops that arrived in the country? did they do better recognizance? they see that population with bitcoin and lightning. and then before, you know, at the sovereign wall, make pick wine legal tender, whether it's an argentine or some other country in this region, it doesn't really matter. as you point out, the game theory is in play, and we'll see several countries in this region adopted coin as legal tender. we're going to see it in africa, and we're going to stay around the world. or the, the interesting thing that i just realized as because we had spoken about gold and

that a bill miller mentioned that he's glad he didn't own gold over the last 10 years. that, in fact, it was a big quain that has outperformed it is up tens of thousands of percent in the past 10 years. but the interesting thing is, in terms of the game theory, is that so the u. s. dollar and many gold buds, what they argue is that the us treasury, the u. s. bad, they're the ones that manipulate the gold price downing and suppress it. interestingly, that it kind of led to the d, monetization of gold, upon which u. s. treasury's and the whole u. s. financial system is actually ultimately based. so they're the ones that actually ultimately destroyed the foundation upon which their own financial system was based by suppressing the price signal. right? had the central bank sponsor price, the price of gold for these past 10 to 20 years. and galls were allowed to trade freely at the $70000.00 brown level where a would be without the manipulation. bitcoin would have a tough time establishing itself as a world reserve currency,

but because gold is so easy to suppress, and as the plaything of the central banks, bitcoin gave the room for bitcoin to come and put the central banks completely out of business and submit demonetized gold actually i think it would have been both would have been de monetized, but it just accelerated hyper bitcoin ization and the parabolic move that was but it brought brought the hockey stick forward as it were. you know, rather than wait another 1020 years, who knows how long it would take and what if it was inevitable i was going to happen regardless. so i think though that this impression of the price of gold, if that's what happened and that does seem to be part of what happens, but nevertheless like that the ultimate underlying foundation of the past 5000 years is gold. that's why central bank seized it over the past few 100 years. that's why they still hold it is because that's what underlying that is the foundation upon which the theat system is built. so it makes sense that they kind

of destroyed their own pyramid scheme probably. well, what the gold bugs failed to understand is that big coin does everything gold does, and it does some things that gold can't do. and it spreads via the network. in fact, the exponential love that you would find in the technology product like a messaging app. and you put those 2 together and it's combusted and it's explosive and it's transforming countries like el salvador and transforming the globe. and that's gonna really pick up in 2022 more countries will adopt it. and i think the prices bottom down for the short term, and we're gonna see much higher prices. and more importantly, the hash rate is going to continue to explode. we're going to take a break. and when we come back, much more coming your way. ah ah

ah ah, we embraced we of course, the un, sorry, did the united states talking about human rights talking about press freedom. if you got a tool, the tool, you got to walk the other way and she's got to be consistent. you cast out on the one hand, we believe press freedom, but on the other hand, we're going to exclude julia. massage. now think of your property. united states is tracy. what really makes a lot of people really mad about the caching turning here in australia where they just don't understand them, right. what is the starting citizen which comes down with

a ah, welcome back to the kaiser report. i matched hazards home there to return your conversation with samson. now block stream, an infinite fleet, samson,

welcome back. thank you max chris. be here again. all righty now i want to pick up on some ideas that we were talking about. in our 1st segment. we're talking about big coin we're talking about al salvador, bitcoin beach and al zante and the circular economy. and you were talking about the circular economy in a way that was actually kind of ash to me because what i think about the circular economy, i say, oh, the professor teller is making big point. it's hard money. she in turn, start spending it at some other shop and then there's a multiplicity effect if you will, from classical economics. but what you're saying is actually quite different. so at the lightning network, because it's a 2 way channel. there's a lot going on there. and i think that this point needs some attention. so get, again, can't get into it a little bit what you're talking about there, where it's so late in it work is based on channels. you know, i open a channel to you, but you can also wrote payments to other people. so it's kind of this network of

channels that everyone is sending through and pushing through. so if i'm connected to you and you're connected to someone else like stacy, then i can route a payment to stacey through you. and is this kind of a network effect. it allows you to achieve this kind of new global payment system. now when i have a channel, i have the coin kind of in reserve. yes. right. so it's like to be quite crude about it. it's like napster or a bit torrent where you've got a hard drive full of stuff, and then you connect to the network and people are essentially drawing on your hard drive of stuff. so you've, i've got big coin. i'm now in the lighting network. i open a channel and people i'm, i'm putting my big coin elbows are available to the ecosystem of what's going on. and for that i can earn, submit some income, right? yes, if you're roading, then you can earn some fees, right? for a routing transaction. so you, people actually set up their own litany nodes and they're earning money from

routing payments, right? but i would say it's more like sticking you have some because you lock it up into a channel and then now you can transact. and at the end of day when you're done, you can settle back out to the main chain of decline, right? so the, at the end of the day, it's essentially a subtle like, like on wall street training all day long. and then at the end of day they have to settle all these trains, a settlement layer. and so that happens then on the main chain current, all the other subtle, all the other transactions are lighting. they're not happening on the main chain. so you avoid the fees and you avoid the need for the various confirmations, etc. as or is that how big is lighting now? 3000 and something be coin in the network. brandon in liquid we're, we're, we're similar. i think we're a little bit bigger than lightning. but you can see that there's a lot of utility to be gained through the 2nd layer between protocols. because lading allows for micro payments and for liquid is for traders that want to move large months, bitcoin between different exchanges as well as other assets to. so we're building

a lot of interesting things on bitcoin that will make it replace the legacy financial system break, i guess. or we're gonna have to talk about infinite slate because it is a fascinating project. it's one of your projects and it's kind of like next jan, if you will, next generation tokens, if you, well, i'll get a little thumbnail sketch on, on the infinite fleet because i think this is a very exciting project. all right, so infinite fleet is a sy fy m m o game. and m m o is m o is a more t massively multiplayer online strategy game. right? so you got a lot of people on the, on playing this game simultaneously. yes. right. so the interesting thing about the fleet is the game currency is a token on the liquid network. so if you much rural the worker, you have warlord cross gold, you can keep it on your account, you can really move it around. but with infinite fleece, currency, it's game currency. it's freely transact a ball outside of the game. so it adds a new dimension to it. and the species in infinite fleet are also in f t's so you

can do what we call atomic swaps. so you can trade the game currency for a game item atomically, which means that happens either all at once or not at all. so you don't have the possibility of someone scamming. you just spelt all and back one. yeah, it's built on liquid which is a bit coincide chain, so it's all be coin technology down. right. and so this has been up for a while. i am full disclosure. i've made a, a small investment in this company. what is the, what's been going on? so far you and alpha are you in beta r u v one, where are we? we're in alpha now. people already buying ships and playing their game. we're going to beta in to, to this year. so very soon in june that's our target. the team is crunching, going full steam ahead, aiming to hit our goals, but beta will open up to a bigger player base. but the cool thing is, we're really seeing people buying our ships. i think in the last quarter we've done 200, something 1000 in sales and the ships are not yet in f t. so as the,

the company we can issue then at ease. so we see that people are buying the ships just to play the game. they're not speculating on an f t craze as with a lot of other projects out there. yeah, it's an interesting period that you've got the big coin as the foundation layer. you've got liquid, which is a federated side chain, essentially as you describe it. and now you've got this economy, the science fiction economy kind of coming out of all of this. and anyway, and i encourage people to take a look at it because it is quite fast and getting back to the big coin world. let's talk about some flood. you know, people like to throw mud and fired at big coin, where are we on the big coin uses too much energy 5 or what's happening on that? what, what's our kind of point to this? i feel is staying down, but then it flows up again. every so often like someone will say something like the coin uses too much energy. but as we know, it's just patently false. but coin uses maybe point 5 percent of the global energy

consumption, which is miniscule. and the comparison that they make is very lazy, is that they can use it as much energy as a small country, but you take anything washing machine, close dryer, christmas lights, those all use as much energy as a small country. so it's a very lazy argument. i mean, i, i like that some work on the sand is actually something like, i'm maybe going to mess up my numbers. but a huge preponderance of energy usage is just wasted energy. right? so energy that you transmit energy, a lot of it's lost, right? it's not something that travels well and with big coin, because you can actually go to the source of the energy and do bitcoin mining. yes, you're, you're finding what's called stranded energy. perfect case being el salvador. you've got these volcanoes, you've got geothermal energy. they're going to simply tap into that to my big coin . and that was energy that was just going to go to waste. yeah. i think the root of

it is people don't value bitcoin. so they like to critique the energy consumption of bitcoin. but i think for a $11020.00 term what hours a year you pick any other thing like gold mining, that's more than a 130 feet money system. you know h t m is banks, lights, data centers, that's more as well. i think maybe 140 hours a year and always on devices which what you're referring to like, you know, amazon, alexis and things like that. they're just waiting for your commands. those things are like 200 here. what hours of power a year. so the coin is nothing, and as you're saying, we can tap into great sources and energy. we can tap into volcanoes, we can get geothermal, energy and mine bitcoin. go to where the energy is. we don't need to transmit. and that's the difference that the coin has. we can go to that strain energy, tap into it, convert it to be coin, and in the case of our solar, bring prosperity to the nation. or a, and my understanding is that in el salvador,

their energy usage is going to go up as the economy grows and their carbon footprint is going to go down. right. so why wouldn't the green lobby like that? i have no answer to that question. i think a lot of these lobbies have their own agenda. perhaps they want wind farms or they want solar farms. but you know, technically if you want korean energy, you should be looking to get nuclear energy. nuclear energy is like energy from god literally. right? you're splitting the atom to get energy, and it is renewable. so, if you're lobbying for green energy, you should be lobbying for nuclear power. i'm hearing rumors, they're one of the big mining efforts. publicly traded mining efforts is going to buy a atomic nuclear energy facility. i think the mining industry and the energy industry are going to merge effectively because miners like bloodstream is, are becoming minor. i think in a few years time, maybe 5 years, 10 years,

we will have our own energy production plants. we'll have our nuclear plants, hydro dams, everything that is going to become one single industry. well that can have a theory. you know, i said for a while now that's actually a big claim. is a 51 percent attack on global energy. we think about that. definitely is possible, like it makes sense for energy production companies or utilities to main bitcoin because it helps you even out the grid. you can mind bit coin when you have access and if it's your own operation, you can shut it off. if there is an emergency like in texas, right, they are not didn't have the power and the people are freezing. so you can shut it off at that point and disable heat taping on the stair at a all. but that i am introducing her. and is it therefore can one say that one of the problems with the ab money or gold, or the is plethora of all fines is simply that big coin is going to poach their

energy and that people are not going to want to spend any energy on fear money or gold or all kinds, because big coin is such an obvious, superior use of the energy as the value keeps going higher, that they'll just be starved of energy ultimately. dear thought, i think so. i think it is, makes sense to mind the coin you want to mind, the best asset and you want to keep the best facet. sometimes you can make a profit mining all coins, but i would say if you're setting up a mining operation, it's a singular focus would be the most efficient operation. and that's why perhaps many of those all coins are china go to proof of stick because they know they're going to be starting the energy later on down the road. bright at that, that they just think that could be, i mean i c k, the biggest all coin out there would be the syrian project and they're moving to proof of stake. yeah. and, and that, and you're thinking is that because they simply understand that at some point, no one's going to spend the energy on that because there's no point to it. there's

no utility value at all. and it's kind of a failed project in many ways. what, what do you say to somebody who say, what's the problem with the theory him? because i reason i'm asking you this is ask you this question 2 years ago and he and very quickly bashed it down. what, give me the 34 bullet points. why a theory m is no good. i'll stick with one is theorem is centralized, so it is pointless to minus 3. hm. it is run on amazon servers through inferior and is controlled by a small group of people which are trying to make it into prove state because then their stick will allow them to governed the network. so it's centrally controlled. that's why there's no point. people are angry of identities, wasting money, not all that because love empty entities are on a theorem. and it does not expense. just put it into a database and let's tele control it. yeah, exactly. the energy, hey, precisely. well, sampson, thanks so much. bring on cars report. thank you max, and that's going to have for this edition of the kaiser, a part with may max kaiser and stacy herbert want to thank our guests and some our

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a breaking news this our, on our tea, a gun men now has taken people, hostage of synagogue in the u. s. state of tex's team is currently responding to the situation also ahead moscow plus washington for alleging that brush is preparing a false flag operation to justify it. suppose it ukraine invasion blood or get dies up, but chances of an electrical complex need. so coming was always going to, we have here, you credit the plans, complete missiles, 5 minutes from moscow. and a big question is, how do you, how you deal with the massive chemical fire in north new jersey sends large plumes help, potentially dangerous smoke into the year which could be headed in the direction of .