in theory, these big organizations that are now amazing and pulling all their data together, they're not looking at you as an individual, necessarily, people's data being collected so much data that there's a real possibility of privacy violation and that something most of us wouldn't want to stop the world transparent improve we must live with permanent surveillance. ah, i'm nice guys, are this is the kaiser report. imagine 10 years ago and big corners, a dollar. and we told you that it would become a world reserve currency and trade in the hundreds of thousands of dollars. and you did nothing. ha, ha, stacy. right, well you know what, max, we are here in el salvador at the airport, in fact,

waiting for simon dixon to arrive. but in the meantime, we have this tweet that el salvador model is spreading. people like it when i discussed my own tweets. and this is referring to a story out of arizona breaking a bill was introduced in arizona to make bitcoin legal tender and the state. so the model is spreading. so in the united states, they have state's rights and this is different than what you find in europe, and it's different than what you'd find almost any other country in the world. so if the federal lawmakers are not open to making big coin legal tender than the states are free to do. so we're seeing so in arizona, looks like florida looks like texas people in taxes are actually talking about the seating from the united states. if the fed just want to keep their head in the sand and don't want to compete on the world stage, this is the state of arizona and they did in 2017 passed a similar law of making gold and silver a legal tender. so states do have some sort of rights regarding this,

but also this past week, what we saw, which was quite remarkable, was that joe biden, his administration said they're looking at creating some executive orders essentially like, you know, presidential orders to deal with. what he says is the national security element of bitcoin. so as we predicted right here on kaiser for it, we were the only people to do so way back in 2011 max kaiser was predicting this would become a nation state level issue. and it now is that the most powerful country in the world, the empire as at war, is concerned on a national security level about big point. right? when i 1st thought i mediately assumed that these executive waters were going to immediately get the united states mining big coins as a national security issue, because they, they want to remain competitive in the 21st century, especially with now russia announcing that they are kind of leaning toward

a very heavily toward big point, it would be in america's national interest to start mining bitcoin and accumulating big point. but on closer examination, it looks like the complete opposite. it looks like another incredible foe, palm by america. lawmakers who as napoleon, one said, when your enemy decides to destroy themselves, step aside. and i think this is the way a lot of countries are looking at the us that they want to take themselves out of the game and be a minor player. the 21st century, it's not up to other countries to help them to see the error of their ways. the fact is, the president of the united states of america is having to respond to big points. i believe that not as you book kelly is the one that started this. this is how the game theory works that worked like this in the individual level when we were talking about that going back in 2011, 201220132014. that's when the individual human beings around the earth in various countries around the earth, from like in argentina or in venezuela,

where they were having very high inflation or hyperinflation. whether they were the 1st natural people to gravitate towards big coin and then that drove other people around the world like online porn or gambling or things like that that were technically kind of not quite legal and certain jurisdictions. so you have the same sort of game theory happening. so one person, as soon as the 1st person moved, and that was nice, you kelly on behalf of el salvador. it was going to forrest all their legislative bodies or entities, nation states. or in the case of the united states states, you could see similar in other federal sort of systems like that, whether it's india or mexico or brazil, like various regions might start breaking away and declaring bitcoin legal standards. every country in the world will eventually make big coin legal, tender. the only difference will be at what price. we have el salvador making the

move in the $30000.00 to $40000.00 range in the united states. there may wait for it until 251015 1000000 coin before they finally wake up it. in any case, it's all good for bitcoin. hot dollars. when these countries of finally wake up, you know, it's up to them, it doesn't even matter if it becomes legal, tender. the fact is, the inevitability of it being the world. reserve currency is inevitable. it will be the global trade settlement layer. it no matter what it is, layer one money. there have only been 2 other layer. one money's before that's us treasury's and gold. so here we have bitcoin and it is the inevitability of big coin. that is certain. absolutely. but it is an acute problem game to see which country does make the move as you point out. it ultimately meaningless because the coin energy use alone will de fond fia money. de fawn gold. d. fond the nation's

day. and de fond central banks. that's already baked into the cake. so we have that to look forward to. but it's a fun game to see which politicians, but he now try to save their careers in this way. we mentioned inevitability. and we mentioned cake. so they, inevitability of all empires falling like a layer cake is upon us. soon after, of course, an empire enters afghanis, animal loses and afghans, and usually their empire is falling apart. well, it seems like the united states is also doing that. we've been chronicling this, of course, over the past 10 years. it could last another 10 or 20 years. who knows what right now. we see these sort of remarkable headlines, right? breaking a bridge collapse and pittsburgh hours before president biden was scheduled to visit the city to talk about the infrastructure. bill police reported the span came down around 6 am. authority said there were no initial reports of injuries,

and this is a remarkable bit human chain form to help after pittsburgh bridge collapses. so we've gone back to like pre pre civilization mode. right, well, it goes back to 2008. remember when wall street was timothy guy there and hank paulson, they put a gun effectively to congress his head and said, give us many trillions of dollars to bail out our friends. or we're going to collapse the stock market. and so congress acquiesced, of course, because they have no will of their own. and that money could have gone in the infrastructure. so here we are 1012 years later, and major bridges are collapsing infrastructures collapsing because america is being held hostage by financial terrorists. it's been this way for 20 years. there's no change that i can see bitcoin as a way out. but i think america's got a case of stockholm syndrome. they fall in love with their captors. so of course, trillions upon trillions of dollars were printed not just even in credit,

like via the fed and quantitative easing and expanding their balance sheet, but also from the actual us treasury by a congress when they, they had also the fiscal stimulus. trillions of dollars was sent out. so we do have, you know, the inflation of that we've discussed, but apparently none of it reached anywhere right. it all just either went off shore to try enough to buy goods and surfaces from them. so we have the dilapidated bridges, we have the dilapidated infrastructure system of the flights, like try to get anywhere in america. all these flights are being canceled. maxon i ourselves out of the airport for like 15 hours because our plane lost some parts and then the, you know, there were no shifts like crew to man. the flies are like move the luggage and things like that. so there is a kind of entropy in dilapidation happening on the ground across the us,

despite the trillions printed like you would have thought that something would have been done, even maybe one mask, you know, manufacturer would have been built like something, but nothing apparently got done all right, and it's easy to prove this point. just look at the money velocity which just tells you of all the money that was printed than any of it answer the real economy and cause really can make. the answer is no money, velocity kept going down to 0 because all the printed money just wanted to the pockets of a few bankers who bought some overpriced art work and some overpriced apartments on park avenue and parked a lot of that money off shore. and was engaged in massive political fraud. now this final headline here, i'm just going to read the comments on the actual headline because again, this is sort of the platforming headline. and, you know, you don't want the director of national intelligence to say that like you talking about this headline might have like for on elections or anything like that. so i

just want to talk about this as an analogy and a metaphor for like what's going on in the rest of the world like that. if you watch the cable news, if you listen to the feds open market committee meeting notes and stuff like that. if you listen to them speak as the podium of you know, the press secretary or something that like none of it matches the real world in either direction. so on one hand, you have like bite and saying that this is the strongest economy ever. and my 4050 years and then on the other side you see the data, ac, depth of despair, all over the place. we've talked about that. but here this is on the opposite side, like the constant fear mongering on all sorts of stories that will get you the platform if you try to contradict it. so i won't mention those, but the fact is like, when you actually leave your house, leave lockdown, leave to the rest of our company, salvador, which is supposedly like, you know, run with games all over the place and homicide to murder and it's paradise, right?

so here's the headline, which is just so amusing with this guy from the new york times. tweeted this and without seeing like the humour and what he was saying with the us warning of imminent attack and nato forces on the alert, it is jarring to be sitting here in care of where ukraine's leaders are acting like there is no new threat from russia i tried to unpack this contradiction here, as is the contradiction with from them, not you like listening to your own cable news and getting the wrong story over and over and over and over again. this is again part of the non stop end of empire. the inevitability of empire because they always get to that point where they, they can't see themselves. they yeah. the, the new york times reporter was and, and sitting at a cafe and he noticed that, in fact, there was no crisis which seemed to go against all the images on cnn.

remember, colon power has little vial of baking soda very waived around and said saddam, we've got weapons of mass destruction. let's spend trillions of dollars for no reason. that's before we blew all that money at the dentist. and remember this is dom hoax. so it's interesting that a new york times reporter is not up on all the hopes, if they should, they should start, we should start something called hoax updates or something because this guy was truly lost. i mean, he's the, meet the media. it's supposed to be that that pillar between the population and power and explaining the reality around geez. so if they themselves can't see reality, if they're the ones that can't understand reality and he's the one saying, well the reality i'm seeing in front of me, of people not being scared, they, they're there, they're wrong. they should be scared. that's like, that's a problem. this is a problem with the media right now. it's like i think scooby doo, where they go around china on masks the ghost and they pull the hood off and the

ghost is us. now, it's like, we are the intimate. it's us, like they don't understand that yet that they, they say that they're still believing their own propaganda and that's kind of worrying. anyway, we're going to take a break and when we come back much more coming year way. ah ah

a job with my name is kelly victoria. i called and i renewed my tissue sounds in dublin didn't get to learn that research. she gave me to the i just had them a family, you know that he asked him yes here that i thought

ah, well, i'll go back to the kaiser report. i max kaiser time now to turn to simon dixon of bank of the future. simon, welcome back. thanks sammy, what an incredible adventure. you wrote the book in 2010 bank, the future of 1st published book dimensions, big coin. and we met up with the 2011 prague, which was considered to be the 1st big coin event ever. and of course, back then the price was a dollar or less than a dollar. maybe 50 or 60 people in the world knew about big coin. and here we are in 2022. we have just arrived in san salvador el salvador. and the country has made big coin legal, tender. what's your 1st impression? well, i'm really looking forward to seeing what's happening here, but there's

a lot of excitement. this is my 3rd attempt at china support and be involved in the country that can actually do something with bitcoin. that benefit from the 69000000 percent returns that have been generated over the last 13 years. individuals have benefited from it. companies have benefited it. now countries of benefit from it and outside with oh, looks like they're finally doing it when there was a little in the u. k. back in u k. where we 1st attempted this, there was talk in house parliament's day about the importance of supporting fintech encrypted currency. and it re while me both over a decade ago when i was trying to say the same thing. and then the bank of england decided to put the evil 10th cause in and stop the u. k. from benefit from it. so it looks like el salvador is going to be the country that's doing it. the 1st government i've ever seen that says they're going to do something and, and implement that foster, which is a really good sign. and so i think this is the country. everyone's going to become

and say, yeah, as you mentioned, this is the 3rd country that you're aware of that has tried to are talked about making big coin legal tender and, but now they really have executed on it. they've done exactly what they said they're going to do in record time. they've got the government behind them. they're passing all kinds of new securities laws. now, to support the creation and distribution of volcano bonds, big coin bonds. now a sense of now over a black stream has said that he believes that the volcano bonds are the most important development in big coin sense bitcoin, your thoughts. this is the country's opportunity to really say the country can do something without the central bank having to deflate that currency, manipulate interest rates, and show you that you can actually rely upon a central bank where you have absolutely no control over. and it's just regulated by mass in cage, and that is going to be able to benefit from not being able to change its supply

and not being able to manipulate its value through interest rates, not being able to change it through market operations. and shenanigans means that you actually you get to just benefit from digital hard money and say now that the government is issuing bonds to the back by bit coin. they get to show you the world that you can significantly outperform anything that any government or central bank has ever crazed is independent of needing any intervention at all. so i really look forward to seeing where this going and if the law, if the next 13 years mckenneth and like the last 13 years, then this is going to be the smartest move. and this is going to be one of the highest growing countries that the g d p is already roughly 10 percent this year. it looks like it's going to double again next year. and the small quino bonds are

really getting a lot of attention around the world. the i m f of course is nervous because they've had a monopoly or oh, god plea. what the central bank for a long time and dictating economic policies around the world, even at the detriment of all these countries, including el salvador. they put out a statement this week, simon, basically begging el salvador. please stop all this bitcoin shenanigans that are going when you read something like that. what do you think was just natural behavior? the m f one, a monopoly, and the world bank these, these big, large organizations into a country organizations. they want monopoly and you know, there's many, many documents in history about the negative impacts. the world bank and i, m. s, lames have had throughout latin america. and different developing countries, and of course, you know, that is, that is the, the strategy is to lend of many dollars as you can control the supply of dollars

and then have on affordable lives. so that you can then have those dollars go back to the country is covered in confessions of an economic hit man. and. and then once you've got that, you can then have, you can use over energy in that country. as you point out the book, confessions, oven economic kit man. really detailed the whole process of making these agree just loans to countries or they can pay and back. that's a wealth extraction scheme. the opposition here in this country is actually lauding the scheme and saying, we don't want to kick out the economic hit man. we think john perkins in that book is role model that we're trying to follow. that's how confused the opposition is. here for fortunately, there are a minuscule and have no weight whatsoever, but let's talk about these bonds. what we know so far to 6 and a half percent coupon 10 year bond for 50 percent goes into bit going we had

a 5 year lock up half is year mark for infrastructure. and the dividend is actually backed by tax. as i understand that, is that what we're looking for, any other color you can add and we literally flew here, landed here because we want to see we want to be 1st to see the securities laws and the perspectives say there's been a lot of design work and on the thing, samson has been really supporting in that process designing it. we're block strange, right? this is, there is laws are very important, right? because the country is actually really architecting their security loss from the ground up to be big coin centric. so i think that's why when people say this is the biggest thing in big coin sense, big coin, i think that's part of what they refer to because this is the security is ation of big coin and the possible global securitization that cost has been going in for countries like el salvador, they could potentially retire all their i, m f that they could retire all of their external debt. but that gets back to writing laws that are bit coined centric. and i know you're anxious to actually see

what's under the hood and what's going on. and i know the folks that are making the draft of these laws are anxious to get you involved as quickly as possible. i think starting in the next 6 hours, you're going to be called in to begin perusing. what, what do you expect to see? what's your dissipation, mama, the security is low as a really the difference between whether you have a wealth effect in your population or not, and say many western security as well as particularly in the u. s. u. k. really been lifetime work for the last decade of really trying to get those so that they're more inclusive because they're the security source in u. k. and in us they really to make the rich richer in the bull bora. so if you get this right, you can really generate an incredible effect. you know, we bang to the future when we 1st started trying to invest in bitcoin companies. and we wanted to allow people to invest them bitcoin companies, the, regulates,

have protected all of our investors from the highest performing after class in history. and prevented many people from investing in the, off the 3 of trying to change everything. we had to leave the country, we went to multiple countries in order to try make this happen. so now we feel a decade of experience having, we could have all of the company, you know, we've done investments made through banks of the future. companies like $100000000000.00 companies like coin base kracken, bit fi, max bits, fam, all of those companies, companies were looking for a home, but one stage. and whoever bought this right could have had the whole industry in terms of all the jobs. everything that came from that and hundreds of $1000000000.00 of market capitalization as this industry grew. now it looks like i was, i was finally creighton that hey i'm and by getting the securities laws right, you can allow people, the population to benefit from all of the financial innovation that we've built over the years. and allow people to have retirement plans built around bitcoin and

just really, you know, have a wealth effects across all the people at the, at every type of level rather than just driving that wealth inequality that we see through truck indian securities laws and other countries. there's regulators like the se, se in the united states, and they have yet to approve and big coin cash e t f. yet, which is remarkable example of protection of protecting their sponsors. and those are the big wall street banks. there are captured regulator. it's quite obvious. same thing in the africa, there are capture regulator. they don't work on behalf of the public at all. they're lining their own pockets, obviously. but here in el salvador, there's a chance to create securities laws with the benefit of the population of the average person. right? yeah, and that's what it's all about. you know, i'm, we have this asset class that has been the highest performing assa, close in history, regulates as protected that population from having 69000000 percent returns. idea

how salvador is, can come along now. they can build custom built security saws that allow countries in their country initially to benefit from big coin through the volcano, bonds. and then they can have individual level products. they can have company level products and they have country level products and to build the securities laws based upon what we know about the technology today is a huge advantage as we've seen and other areas like africa, just leak program banking, going straight to more advanced technology with their finance, with their financial affairs. and i call wait to see, you know, this is what this is what this is all about. and the security source is a vital part of it. they got the legal tender, get the securities, right. and you've got your, your double punch. there is talk of all, salvador becoming affectively the singapore of latin america, central america,

your thoughts on that. i think it's bigger than singapore. i think singapore is, you know, i have and across across asia. this is the reinvention of security, small kids, ball markets, currency markets. this is setting the example for the world. and, you know, this is more like a bretton woods to moment where money is being renegotiated and the u. s. put itself at the front of that and then reneged on the gold standard. they negotiated in 71. this is bretton woods to be in green renegotiated, but based upon digital hard found money that nobody controls. so there's no vested interest. there's no central bank or company or country that's going to benefit from that because anyone can participate. so if el salvador gets this right, i think this case viral across latin america. i think this case and then goes up the chain, the very last country that will adjust to this will be the ones that have the

vested interest. the european central banks, the federal reserve, the u. s. the europe, so the well, the bread and the pound, that will be the last to adjust. so this to me is david beats goliath moment. they can have games see a radical where the early you adopt and follow what else, how the door does. the more lightly you ought to benefit until the very last person all the very last country, the dots to this, i think it's much, much bigger than just creating a single point. we already know that a lot of things happening in argentina. now brazil is a step start talking about big coin. other countries in central america are now rumored to be possibly in line to make a big coin legal, tender, and the very, very near future. well anyway, saw, and it's great to see you. and i think the all the a team is in place for this volcano bond to really take the world by storm. thanks for being on the kaiser report. yeah, thanks for sharing this whole journey

a call. wait. see where we go next. all righty. well, that's going to do this addition of kaiser report with may max kaiser and stacy herbert want to thank our gas, simon dixon, went back to the future until next time, bio ah ah ah. with you the very latest every hour the day this is all. no fun, everyone here with

algorithms and neural networks have been following us everywhere. we look online because our relationships are what matters most us and that's how we find meeting and how we make sense of our place in the silicon valley. see don't mention in slick presentations. however, the ghost workers who train the software humans are involved in every step of the process. when you're using anything online. what we're sold, as is, miracle of automation behind your screen. it's a long rouble workforce. that feeds algorithm is for next to nothing. on a very good day, i can do $5.00 now. a really bad day. i could do 10, he's workers are invisible by design. it's about labor costs, but it's also about creating layers of lessening responsibility between those who solicit this kind of work and need it. and those who do it

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