i mean most usage, li, blanca from his teacher who was also risen whose police reveal congregated. 6 ah, the german navy, admiral steps down after he thought the diplomatic ra by publicly stay in the crimea, is now part of russia. also in the headlines, we recently notified congress of our intent to lever and 17 helicopters. but to the latest round of di escalation, thought the u. s. joins or the nato members stately ramping of weapons supplies the keels with south russia to pull back its own troops from its border with ukraine. rallies against coven restrictions of breaking out across europe. we don't go in front of a vaccine mandate and across the channel in britain there are protest against the boundary jobs for health care workers. those he had lives with our feel free to

head over to r c dot com for more of those stories. my name is peter scott, and i'll be back with another lot in just under 60 minutes. ah mash kaiser, this is the kaiser report. we're in elsa. el salvador. lapping up the luxury of the why. who, oh valve, the door, whether it's mountains and waves and bitcoin adoption, things are happening here. there's mountains, by the way, our volcanoes go to st. helen who want to be careful when should also be careful of the hot lava of inflation flowing everywhere. the interesting thing to observe from our per chair in paradise at the best surfing beach in the world l, zante big beach, is that inflation is rupturing everywhere. and when it is impossible to contain,

remember back in 2008 to 11 period max. when ben bernanke he claimed they could stop inflation from happening within a few days. well, a few months later, as inflation continues to grow bigger and bigger of a problem, especially as we head into the mid terms. well, the blame game is starting saudi crown prince. mohammed's been solomon is enacting revenge, and democrats for the parties increasingly stand offish attitude towards the kingdom by driving up energy prices and fuel and global inflation rates. ryan grim and can clip and stein in the intercept. now going back to 6 months, 9 months or so, when the inflation started to break out. i said on the show, and i've said many, many times as inflation increases, the stories, the rhetoric, the explanations, the justifications will get more and more bizarre. because there's nothing in the,

in the playbook for of mainstream media to explain inflation because they've been told for 20 years now that there's no applied. and that there's only deflation. and the need to keep printing money to stop the profit of the possibility of, of a deflationary spiral. and so now we, here we have a story that's the level of ludicrous fantastical nonsense. is it, do that shaving escape velocity from any sort of expectation of a reasonable report or at all you're worse from here? it all become more bizarre from here. this happened during the great depression and the hyperinflation neary periods during like weimar germany. what was blamed in weimar germany, where the, the farmers that the farmers were greedy and they were charging so much for all this food. and you had the same situation recently with elizabeth warren also blaming. suddenly after decades of the ceo of these companies became uniquely,

somehow super greedy and they're charging too much and they want to investigate, meet producers, and they want to investigate all the same thing. happens every time that of course that happened in venezuela. it's happened did argentina every time this a hyperinflation area period. they start to blame the producers, the people who are actually like, you know, processing the meat for you suddenly they get blamed because somehow they're the cause, not the money printing. and we're heading into a midterm election, a very important election. the poll numbers for bite in are collapsing faster, then prices are rising, are probably equal. there's probably some correlation between the 2. so here is a interesting take and some indications coming out of the white house about this. this is from steve forbes. so he is a little bit of a, a hyperbolic guy, and i'm on his own. but if you read some of the stuff coming out of the white house, it suggest this could be an accurate opinion about what we're going to see. there

is growing talk that if inflation doesn't ease soon, the white house may impose, quote, the temporary price controls on voters instead of products such as beef, chicken, gasoline, heating, oil, and various prescription drugs. this has never worked in history, and if the price controls no matter where you apply them, you'll see the inflation pop up somewhere else. and there's no way, once the inflation janie's out of the bottle and policy makers refused to accept the fact that it's too much money printing that's causing the inflation. no, this is just going to be a continuing story that is never gonna stop until we have some kind of bomb capitulation. and, you know, i mean, this is all very predictable. you know, when you print trillions and trillions of dollars to it all started 2008 when they bailed out wall street. but from 2008 to 2022. it's been

a rolling bail out. they've printed, you know, all alike. almost all the money that's ever been printed in the history of america happened in the last 2 years. you know, it's like, it's the most incredible display of money printing ever. so it's not going to end. well it's, it's, it's, it's a catastrophe, right? and it's important of course, that, that a lot of these numbers like lag, right? so we have the global can tell an effect. so all the money printing is going billions, hundreds of billions, trillions of dollars printed at the center for americans who are now all at home. and they all are still pricing everything in old dollars pre pandemic dollars. so they all feel rich. they all think they don't need to work anymore. they're all staying home on their stock portfolio gains are property market portfolio again. and that is driving further inflation because of course there's

a supply chain crisis happening and is getting worse and worse. there are now more and more photos that even the mainstream corporate media is starting to cover the empty shelves across america at the supermarkets. which of one saw those sort of images during that period of the imminent collapse of the soviet system. and that command and control prices then say we're in a here bite in this talking about command and control prices, price fixing for those basic ingredient site beef and chicken. and you're already seeing like the indicators like you're seeing the reaction of the slow realization that perhaps they're not as wealthy as they think they are. because they got these thousands of dollars of, of free money that they poured into. i mean, stocks that went out of 5 acts in a year and, you know, perhaps there's a crisis situation building. right. the of the basement of the currency is underway in a huge ways. so in your right, the soviet,

to zation of the american economy has been going on really since the collapse of the soviet union, america picked up the, the, the flag of communism and has relied on the pull up bureau at the federal open market committee to fixed prices for money and to print a lots and lots of cash to bail out the oligarchs in america. and now we're having a collapse. and though it's underway, the we're talking about a hyper inflationary collapse of the dollar. it's already collapsed against brick coin as have all 3 monies around the world. and that's what the coins telling us is that fear money is all free up money. it will go to historically what it always goes to not is 0. and i don't think what us policy makers looked at and observed from the field communism and soviet experiment, it was what they picked up on was not communism because as like read distribution

and sharing of like, equally between everybody, all the free money. this, they just chose the, the price fixing the notion of price fixing and that they feel eat somehow know better what the price should be. not those who are actually manufacturing, you're producing him and processing your meat or building your car, doing these 3rd thing. so that, that, that notion that they can control the numbers and therefore control your perception about how they are ruling. i think that they are thing to watch, right? they don't trust the market, right? the market says prices, but you know, they don't, they, they feel like they need to set prices and they don't believe in free market capitalism. that has been true in america for many, many decades because you can have a central bank that establishes the price of money, the owners lying fundamental foundation of the economy and then expect to have price discovery and free markets anywhere else in the economy. so you have

a price fixing has been going on for quite some time and it all always leads to collapse. right. i mean, you saw that since, since $9071.00, since we won a global offi out standard. you see the wild gyrations they cut the blues and bots are way, way sharper, that the theoretical boom is weighed bigger than it ever existed back under the gold standard. but the crashes are also more severe in terms of the mis allocation of capital. busy and the destruction of actual economic value creation road, nomi, a, naomi klein, wrote a great book called the disaster capitalism. and this isolated disaster capitalism is again, going back to the fed. they create these, these enormous busts on purpose because it's a way for the oligarchs to grab more assets on the jeep. and so the above income gap just keeps getting wider and wider and wider. and then you have just an

ultimate, you know, collapse. and speaking of ultimate collapse, others, our civilization population collapse. you know, you know, i'm ask, has been warning about population collapse. but here's an interesting take on inflation from bio for a financial news network. and they say pets aren't cheap, but their last expense of the nourishing or growing human being. that's the same thing with how the destruction of underlying economic value in the global economy under fiance's them. it's like, well, it's really expensive to create a manufacture. well, proof of work is very difficult, right? but sending everybody free money m m t free stimulus checks. everybody sitting at home. that's easy, right? it's easier to just sit home and i trade means stocks. let's all do that. but at the end of the day, then you show up at the supermarket to go buy your, your beat for your chicken. there's nothing there, there shelves are empty and you're like, hey, like, that's the same sort of mentality. right? raising cats and dogs is cheaper than raising kids, but you know,

it's even cheaper than raising cats and dogs, and i recommend this sea monkeys seeing monkeys in monkeys. i think it may be for $5.00, and you just pour this kind of a chronically preserved brine into some water. it comes to life like little shrimps, which they call sea monkeys. and i so you can, if you don't want to have kids, you can have c monkeys for 11000000 of the cost, right? and then, so, you know, we're here in el salvador. we'll be here for a while and we'll probably end up be here all the time. right. but there is another old fiance world, a story that it was in the news, and the president of el salvador now jeep and kelly responded to it by we can't read his tweets here because of course, the global regulators do not allow that sort of speech on here about d, g, a f, in terms of this tweet about moody's downgrades el salvador sovereign debt due to

bitcoin trades. of course, the president here made it known that we don't care, you know, you're the old be out world. we don't care about your fiance frauds and i'm no, as we've been laying out your inflation, your best plunder. we don't care about your economic model, right. moody's as a credit rating agency. and they've got a long, long history of fraud and, and their most, and she is owned by warren buffett. they gave of course, collateralized more debt mortgage obligations right before the crash on the wall street, 2008, aaa rating. thanks to the big sack of money that goldman sachs gave them, you know? so it's a joke. i agree, but i'm not laughing at their joke. all right, that's going to do it for this. have stay turned until the 2nd half. don't go away with

a with with oh, when i was sure seemed wrong, i just don't a sheep out disdain because of the african and engagement equals the trail. when so many find themselves will

depart, we choose to look for common ground. the me welcome back to the kaiser report, i max kaiser time now to turn to jimmy song. jimmy, welcome back. all. thanks for having me again. it's great to see you in this part of the world. yeah, i wanted thinking how to introduce you, and i think one of the things we got to cover here is that you have written many books at this point, but just list the books you have written or co written ok, programming their coin that's programming book, we have the little bit coin book, which is a book to get people to understand according if you don't really know anything. thank god for the moral argument for bitcoin essentially, from a christian perspective. and of course the coin and the american dream, which is the newest book, which is a big point book for policymakers. ok of

a prolific author. let's talk about all salmon are. that's where we are. we're here and we are meeting all these new bitcoin enters and people are coming here a year now made the pilgrimage to el salvador home of bitcoin city eventually. and of course the president has made the coin legal 10 or what are your impressions so far? why it's 1st of all, it's just, i am blown away by the natural beauty of everything. but more than that, there's like, like an energy here, like almost like a spiritual revival most right. like where people are very excited to be doing and to be here. so a lot of big corners coming in, a lot of foreigner, you know, just sort of like checking things out. and you could tell that there's pride in being in el salvador in here that maybe wasn't here before. and you, you see a lot of optimism, a lot of energy, lot of like the spirit of independence perhaps from the i m f or something. right.

they, this is a country, of course, and central america has been very much under the thumb of the m, f. and other international organizations for decades and big coin gives el salvador and possibly other countries in the region away out in a pass for and to achieve an individual sovereignty, i in a way that they haven't had before. and you mentioned this energy that is palpable, that you can feel it in the air. i'm getting calls every day now from big pointers who want to move here. what would you tell them? first off, how would you describe the situation? yeah, it's bay tree bear cleaners especially well here, which we're not necessarily use, right. there's a, you know, you could come in at the airport and you tell them, hey, like, i'm here for good point stuff and they're like, oh yeah, please enjoy the country. is this a good place? there's a lot of other big corners that are already here. so i think i've ran into at least 5 different people. i had no idea where here. and they found here, they're like,

hey, i'm here to and you know, meet up, hang out on that stuff. but like on the ground floor, they'll have dorians, you can, you can see a different sort of like, i don't know, like, it's almost like when you get orange pilled, right? you start changing your behavior a little bit and you're seeing that as sort of almost a nation level. and that, that to me is absolutely fascinating because their identities are changing the way they think of themselves are changing. instead of like as 2nd world class or 2nd class world citizens or something like that, they're like, no, i'm el salvador way and it's something i'm proud of. and it's something that i want to sort of invest in and make this place better. and that's that to me is how civilization gets built and that's very excited. now you mentioned with thank god forbid point one of your books, there's a moral case to be made for a bit coin talk a little bit about that. yeah, the moral case for the client is that the system is, you know, system of that corruption of cronyism. and what bitcoin does is it brings

everything back on the level, right? like, instead of only benefiting the rich, which the money does, you have sort of $11.00 playing field. you have have this ability to say, you know, it's not all based on that. things like that. so it gives a more solid basis for society, for civilization. and what we're seeing here on the ground is that that base layer is starting to be changed because it is based on the, it was a, it's a dollar i country, right? they don't have their own sovereign currency or anything. so they've been using the dollar. and they're transitioning over to bitcoin and you can see that transition sort of affecting the people as sort of a visual level. and that's actually fascinating. i didn't expect that to happen so quickly. but it's, it's kind of amazing that this, this moral turnover, this, this inability to, or this dean freed from the shackles,

are actually affecting people to the degree that you mentioned. money and image is circulating online in venezuela of their currency. the ball of are literally the filling trash bags and littering the street with the paper money. i also was looking at an image this week of a freight train or a cargo train in the united states carrying packages, online delivery packages that been broken into and scattered for miles on the train tracks. similar to the venezuelan images of the out money, this is a b r product. the american culture by contrast to what's happening in el salvador, seems like almost the money and again. yeah, absolutely. it feels like there is a sort of like a deterioration happening in the united states. and you can see that that picture speak so much because there is this money that's funding all of this consumerism

and you know, a lot of it, the money it's actually being taken from, you know, it's taking well from these countries that made those products. and it's, it's funded through the money and it's benefiting really few people at the expense of many and so on. here were instead of that deterioration, you're seeing some, a lot of building, right? like a lot of people starting to create goods and services and stuff like, you know, if you walked out on say, you can, you can see buildings being built and people starting businesses and creating goods and services. and that to me is what, you know, on a longer term trajectory, where, where you want to be as a city, as a nation. so in a way, you know, outside the door is on the right path. whereas the united states may not be on the right path, although, you know, hopefully we can change that. right. i learned something the last week that el salvador is kind of a hug for all of the maintenance for the aircraft industry from all the airlines in

this region. and they have thousands of engineers, high level engineers doing this work. it seems like that would be a pool of talent for you could draw on that and to do you do get into some core development get into some programming skills and that would be something really interesting in this country. because the challenge there in this with big coin, you've got a path toward a different type of professional accreditation in education use is that you see that happening. i think so because what, what we've had here in this country and a lot of central american countries, lot of 3rd world countries really is, is basically a brain drain, right? like everyone leaves the people the best and the brightest and tend to leave or somewhere else. and do you know, go where there's more opportunity. but pick one is bringing opportunity here. and that means that they'll be able to create goods and services and products and build

on here. and that in term means that they'll have more things to export more things that they contribute to the global community of trade and so on. and that, that, in turn will build this place up. and that's what's really exciting is that you have people that left el salvador 1520 years ago that are, you know, trying to come back, right. they're seeing, there's interesting things happening. people are building things i want to be here for that and you know, they're no longer on there that some of the i'm at if i get like a wealth and save and do all these things on that that i think is like a remarkable, remarkable thing to be seen happen on the ground here, and that's that both very well for the future. yes. speaking of engineering, we talked recently to geothermal, volcano location near the city will be built and sure enough there the geothermal energy being drilled in the ground and connected to

a container. and in that container, hundreds of the queen miners. and when i open the door and i saw those big coin minors humming away, i was one of those moments that was very you know, i ha, you know, like, oh my god, this is really happening. have you looked into the geothermal mining in the big coin mining? how powerful is that going to be? yeah, i don't know the exact number of like megawatt hours that they're able to generate or you know, how, how, how big substation that they're going to have to convert that energy. right. and, and put it in. but, you know, we know that it's clean, right? it's, it's completely green, it's very steady and they have a lot of volcanoes in the area and they're taking their natural resources and the point them in a logical way. and of course you're, you're, you're, the person took bank for like figuring out how you can fund the bond this way. and

that, this is absolutely changing, you know, the way that l salvador is sort of financing. and so because previously they were taking loans from the map and so on and about always like call is this sort of like, you know, conflict between, you know, surveying the i m f, masters, they always have recommendations for you, right? like, do you need to do this percentage and education, this percentage or whatever and like, and you have to pay down your dad and do all this other stuff there. and like there are basically centralized controllers telling a towing small country what to do. and i think this administration has figured out ok, instead of doing that, like let's do our own thing. we don't have to listen to the math and we can be much more responsive to the needs of our people. and that's, that's, that in itself has just changed everything. right. it's colonialism. yeah. any other name and that is to say the model of the math. and of course they're not

going to go away without a fight. i don't, i think moody has downgraded the sovereign debt here in el salvador. and i think that's part of a coordinated attack. of course food is famously in goldman sachs days during the 2008 crisis gave their trash re package some prime debt that hadn't 0 resale value. they gave a triple a right studio, a political corruption. and so they're obviously in enormously corrupt institutions . so we can't really take what they do seriously, but nevertheless that kind of geothermal energy we know from iceland is worth billions and billions, hundreds of billions of dollars. and so this 10 percent growth this year could be 20 percent next year. are you thinking uh we got about a minute left. are you thinking about maybe relocating here? well, i'm certainly open to like at least coming here much more often it's. it's

a beautiful place, but you know like that. like all, all of the investment that's going on all of the bonds and all that and like kind of being not under the i m f, but being its own sovereign con, being sort of like that traditional see state that's experimenting in doing so. you know that that's very attractive and, and you can feel that energy and this is the energy that's available to everybody. it's just that people just sort of like soc get out on. i sucks it out from the other. okay, now the way to the ball, the big coin isn't, and it's a creative, it's energy exponentially and it's going to overpower the energy draining the i am at the, i think you put it well the m f is essentially in energy. so thank you kind of takes this and saps the population as any colonial master would do. so what, what's, what's on the agenda on this trip? we've got about 20 seconds left. jimmy, what, what meetings you have lined up? well,

i met with some government officials of church leaders. i really wanna help them to understand the moral case for rickland cuz it is a christian country. so yeah, if that's on my agenda, you know, next time i'm here, i think it will be more education focused. yeah, well praise it, does she do me? thanks much for being a cast report. well, thanks for having me and asking to do for this edition of cause report with me max kaiser and stacy herbert, thank our guests, jimmy song until next time. i'll join me every 1st on the alex salmon. sure. i'll be speaking to guess of the world politics sport business. i'm sure business. i'll see you then. mm. ah

ah ah mm mm. mm mm. mm. hello, and welcome to wells far as the world works its way so different amex,

so das compet 19 in changing the world work the arrangements and broad dishes that seem possible only a few years ago and now commonplace. while some of the things we used to take for granted, i know norm holl gimme a call when the labor of pains, covet, 19th, is inducing vote to discuss it. i'm now joined by a writer. director general of the international labor organization is a writer. it's great to see. thank you very much for finding the time. thank you for your invitation. your immunization has just published a report on the impact of the damage on people's working lines. and from reading it, i had the sounds that you faced a real linguistic challenge in finding a strong enough to express how damaging it has been on a scale of one to 10. how bad is it? well, it's been very bad. this is the 8th.