elements to make him in a course over the hours. we never know what needs is round. the corner will be the 1st to tell you about it either which way for me the tape. very good. anything. ah huh. oh, it is too much. so to see must i know whom am i it's a daughter, a wall with huh. oh, in that there was a,

it was over to one of them. id my calendar. i'm all chill articles. oh. 1 and with the fire match, guys are this is they guys are report and we have got a lot to cover today. they said hey, back in the 2nd half, we speak to the vice president of el salvador. and soon after we wrapped our interview with him, the news broke from the committee on foreign relations in the us senate. this is

remarkable. here is the headline british menendez cassidy, introduce legislation to mitigate risks of el salvador, adoption of bitcoin, us senators, jim rich of idaho bob menendez, of new jersey, ranking member and chairman of the senate, foreign relations committee and bill cafferty of louisiana. today introduce the accountability for crypto currency in el salvador, the aces act legislation, requiring a state department report on our salvatore's adoption of bitcoin, a crypto currency as legal tender, and a plan to mitigate potential risks to the u. s. financial system. i'm going to read the next quote from one of the senators, just so you see the scale of the threat that big queen poses to the united states dollar because here el salvador is like a 2530 $1000000000.00 economy. and they're saying this about bit queen is legal tender here. el salvador,

adoption of bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a mobile us trading partner in central america said rish, this new policy has the potential to weaken us sanctions, policy and powering malign actors like china and organized criminal organizations, our bipartisan legislation, 6th grader clarity on el salvatore's policy and requires the administration to mitigate potential risk to the u. s. financial system. and they go on to actually say it undermines the role of the us dollar as reserve currency. right. i was pretty shocked by this. really. i mean i knew the dollar was vulnerable and i knew the dollar was in trouble. but i didn't know the us dollar was in this much trouble . that country like salvatore. as you point out, it's a $3540000000000.00 economy by them making bitcoin legal tender. what the senators are suggesting is that a threatens the entire u. s. world reserve currency,

the dollar, the us dollar had gemini, and that can only be true if the united states dollar and a satellite client states around the world are engaged in the massive pansies game like burning off. so i, i can't understand why anyone reading that. i wouldn't want to just go all in on big coin because as the dollars now they've shown their hand, it will with that question now collapse. and big coin is paul tutor, jones is said, is the fastest source in the race. i can't imagine anyone holding dollars at this point, it's absolutely untenable. you must be insane. the whole dollars, you know, in terms of the us dollar research. here's the quote about that. and then i'm going to say a few thoughts about this el salvador. recognizing between his official currency opens the door for money laundering cartels. they always say that an undermines us interest, said doctor cassey, if the united states wishes to combat money laundering and preserve the role of the

dollar as a reserve currency of the world, we must tackle this issue head on. so they are being very blunt about what they see in terms of understanding geo politics, geo economic, monetary policy. so when you look at the u. s. as a d industrialized dilapidated nation that's important, that has to happen if it were the opposite that would undermine the role of the us dollar, for example, as a reserve currency. because if there were manufacturing in the u. s. if there were a flourishing middle class, if the industrial heartland still existed, the u. s. dollar could not maintain as reserve currency status. because remember, the chief and dilemma you need to send all those dollars abroad. you need to have a huge number, you know, massive imports versus exports. so you need to send all your dollars overseas. that's the only way to do it. also, the petro dollar, we've covered that over the entire middle east. when you look at what's happening

in libya, when you look at what happens in iraq or yemen, you know the need to maintain that patch or a dollar in order to back the dollar. because the piece in the middle east is a total ally. like if there were peaks in the middle east, we would have a problem maintaining the reserve currency status. so they're saying it out loud. this is actually their policy not mean all excellent points and, and also keep in mind when they talk about big coin pin used in criminal activity. the use of bitcoin incremental activity picked several years ago at 1.5 percent of global criminal activity. and it's crashed. it's now point 15 percent of criminal activity that was probably go to 0 because no criminal in the right mind would use big coin in a criminal activity because it's totally transparent on the open ledger, the block chain. so that's just the st categorically. patently false. what they've said they are, that's their lead statement. and then everything else that they imply is equally

fallacious. indeed. and of course we at cover this in a previous episode here from el salvador. and that is that we were sitting with the, you know, the co founder of bits and acts right when the news broke, that the u. s. department of justice and the f. b i had arrested and returned and seized 3 and a half 1000000000 dollars with a big coin that had been stolen in a hack from bit for next bit queen exchange back in 2016. so was traceable. they found that they got the bitcoin back. now in terms of with the sovereign nation, the leader of the sovereign nation of el salvador, how he responded to the us senators, threatening salvador. ok, boomers, you have 0 jurisdiction on a sovereign and independent nation. we are not your colony, your backyard, or your front yard. stay out of our internal affairs. don't try to control

something you cannot control because of course you can't control big wine. that's the thing. it's censorship resistance. you know, they can take you off with all they want, have your dollar game over for fear. we've got big point, right? so it's censorship, resistance. it provides individual sovereignty to the individual human being. but apparently, as you see, to the independent sovereign individual nation. right. as we have said now for many, many years, you cannot enforce a band a bit going countries have banded. they found that they couldn't enforce the ban, and they flip, they became supporters. they are now hoarding, they're not buying their ma, mining big coin. this is true now in ukraine, they just made a move to legalize bitcoin is true in russia. they're now moving toward big line is true in india. it's true in germany, the policy makers are saying you can't stop it, we can't stop it. they realize now the game theory is on and they need to start

mining and hoarding, big coin or be left behind. the u. s. could be in a very, very dangerous position right now in terms of human rights for the population because it's a stuff effectively not defending itself against the encroachment of big coin superpowers. right. so let's move on to the next headline. that is an interesting one happening here about between on the balance sheets of these nations and the achieving some sovereignty from a decaying empire that's collapsing and it's going to start to shout. but, you know, the other thing that the president of harvard are noisy book kelly has done is how the i am asked to go pound sand essentially. and i want to show you a headline that's kind of been missed over the past 2 weeks. i certainly had missed it because there's so much happening here. but this is a proposal in lebanon to jail because lebanon right now. they think they need a bailout from the i m app. but in order to get a bailout from the map, they have to deal with the situation in their bank with billions of dollars,

tens of billions of dollars of bad debt. now remember back in 2019, they fees. they froze all funds, any, any dollars us dollars that you had in a bank account in lebanon has been frozen this whole time. so here's a proposal about how to disperse this over a $100000000000.00 and us dollar cash that they've seized. lebanon plan sees 93 percent currency slide turns bulk of fx deposits to pounds. a government plan for tackling lebanon financial crisis projects and 93 percent evaluation of lebanese pound, and converse, the bulk of hard currency deposits in the banking system to local currency, according to a blueprint seen by reuters of a $104000000000.00 of hard currency deposits the plan for sees returning just $25000000000.00 to savers in us dollars with most of what is left converted to pounds at several exchange rates,

including one that would wipe out 75 percent of some deposits. so this plan has been like they keep going back and forth over the past 3 years. and basically the debate has been, who eats the cost, who has to pay for this? is it the government? and the central bank is that the bankers and all their by debt, or is it the deposit or is, and this new plan sees the depositors the ordinary jo bag of donuts in elsa in lebanon. right, well, when we the bay roof lebanon 7 or 8 years ago, big coin was $5600.00. we met a young man named safe dana most told him about big coin within a couple of years. he started buying big coin and he wrote the book, of course, a big coin standard, and he's not suffering this massive evaluation or the many, many people in lebanon. we tell to buy big point at that time. they're not suffering this evaluation. same thing goes for canada right now. can canadian banks look like there's a lot of trouble going on there? countries talking about confiscation and freezing accounts. those folks that are

big coin in canada will make it, they'll get to the other side. if you don't, you'll probably get destroyed. but same is true now in the united states and countries all over the world. if you don't know big client, you're going to be destroyed. i might add that in fact we did meet dr. safe. dina moved in 2011 and we told him about the coin. and if you look at the price chart of big coin, you'll see that it was actually $1.00. he then did contact us when it was 600 dollars, i think in 2013 or 14, and we helped him figure out how to buy some big coin. and now he is like one of the leading thinkers in the bitcoin space. in terms of the $69000000000.00 and losses that have to be eaten by somebody, here's what the article. reuters points out dividing the losses. this time the losses are divided out as follows. 38000000000 by the depositors. 13000000000 reduction and the capital banks shareholders and 10000000000 and government perpetual bond and 8000000000 by the central bank. so as you see its ordinary

depositors that are having to bail this situation out, just as ordinary depositors had to bail out cyprus, the well bail in cyprus, this is the bail in model, and it's coming for other nations around the world as this game over for fee at accelerate, and like our friend was $16.00 a most in lebanon at that time. like he got big wine, he got wise and he got it at the price he deserve. and, you know, look at the game theory going on here, and i either get it or you don't. yeah. like we've been saying for 11 years, only keep money in the bank. only keep the money that you're willing to lose. if you anything you want to save, he need to put it in big coin and everything else will be taken a bale and as they call it, well, look at what canada is doing. they've rewritten all their emergency laws to seize. not only your bank accounts, but your security counts any portfolio stock portfolio. you have

a housing and like everything, they could seize all of your wealth if you are protesting their policies. wow. and i just thought was lot of maple sugar. all right, we're going to take a break and when we come back, much more coming your way. ah, ah ah, ah ah

with ah welcome back to the kaiser report, i max kaiser time out of turn to very special gas, the vice president of el salvador dr. feel if you are welcome. thank you max. now what's happening right now is that there's a shift in their global economy and the center of power in the u. s. with the u. s. dollar is being challenged. it's being challenged by something called big coin. and it's all happening at al salvador, you're the vice president. first of all, how did you, what, how did you become vice president? what's your relationship with president kelley?

oh, well, it is a long story. i met him see his. he was a mayor. well, very small town, and then he went, he expressed his interest in getting elected as a president of mayor of the capital city. i joined his team, so we warning his campaign. we won a he became a mayor of san salvador in 2015. then who this i to ran for president, he called me to be part of his team also. and we were working on it. and finally, when he got all the opposition for the whole system, economic power, se institutions, political party, their traditional media, everybody was trying to impede him to run for office. so we fault it, we find out on ways to get him a is, are you still as a candidate? but the last movement of the tradition of c stem was to cancel the political

body who allow him to we borrow it. then with this i was, this is only one chance and they watch us was 2 hours away of the day or line to with or use that. and he found this body gunner, he called me, i saw that i was call a saw lawyer because i was a legal advisor. when my surprise was the one you said ok, you sign here. i say, what for? he said, because you will be put on my ticket. so yeah, the ticket that i was surprised that i couldn't even check with my did all my relatives, my wife, except that because we were one hour away from the deadline. so i immediately signed it because he was that sort of commitment from there because of the last week. what once he said, don't leave me alone. he claimed that and i was a sort of to a full, you know, antenna that to be ready will sterling. we won't lead you alone in that we have them. um and we asked me to be part of the tool. he's ticket. i couldn't say okay,

let me check. not immediately i react, i sent in and then we started the campaign with elected. here i am now. right, and this is the new ideas party. absolutely, absolutely. i do of yes, body was his broy. the police are going to prior. who that, i mean that party was not allow to run in their presidential elections at the moment because i said the whole system, the whole legal system was trying to impute him for running for office. right. let me just ask you a question generally about politics in el salvador and also in central america. and you can say in latin america, there's always been those tension between left and right. and it's been going on for decades or, or you have a left wing parties are a populist and they talk about wealth redistribution and land to read distribution . and then that doesn't work out very well. and then a right wing comes in and the aggregate power and the aggregate land and power,

et cetera. and this dance has been going on for decades. here in el salvador, president kelley, it seems to have shattered this paradigm and introduced a brand new paradigm. and he's introduced bitcoin when, when he 1st told you about big coin, i'm assuming he told you about it. ah, what did, what were your thoughts at that time? when i for, i don't know if you are familiar with some sort of is say political is say from francis fukuyama, it was returned in the last and yes, in $99.00, he wrote it on the end of today and he started. so that idea was that it wasn't the end of the he stood, he was the in over ideologies. and he claimed that day liberalism will be, you know, the future for mankind, isabella. i think that that prediction from fukuyama that it was the end over the ology is coming like a true you said the reality. because as i rapidly said that she had to book

a la is not the men of ideology. he's our men of ideas. and the idea of the great idea as you know, adopting our legal currency, a crypto currency. it's it's, it's like a disruptive, vis, young, not only on politics, but also on economic in for isabella. thus, men that said, saddle has been put now in the leadership worldwide in the is the situation that you may show the challenge of their fear to currency at the dollar us, right. let me, let me jump in here for a 2nd. so you mentioned francis fukuyama, he had a very famous essay in 1990 the end of history. and it really referred to the end of the berlin wall and the collapse of the soviet union. and i know people in the united states interpreted that as we one they lost. but here we are in the year 2022. and it doesn't seem as though the united states and great britain and europe

understood the lesson of the end of history as well. as el salvador, as you're describing it, it seems as though as you aren't giving are your view of that essay. very famous essay is that the end history means the is the beginning of politics driven more by ideas than ideology? is that a fair thing to say? that is correct, and as you said, the western didn't understood the less all the history they further because the soviet union fell apart. i mean, that was the one. this battle between the ease of the west, many of the social is on capitalism. and that is not neither the current, the current situation in order. what was the result of the fell down of the soviet union? okay, this is incredible because in the united states, people are still debating, socialism versus capitalism. and there is

a big move in the united states. now back to socialism, when you hear something like the universal basic income. when you hear about politicians talking about issues that are fall under the heading of social justice . and this type of thing, this is patently socialistic, whereas el salvador is said, you know, beyond that were moved beyond that and with bic, coin, giving the possibility to break the paradigm. what is it about big coin that allows a country like el salvador to make such a bold kind of move into the future? what, what is it about the claim? you know, be going mean freedom, the freedom of financial decision making process. because so far, the currency has been the tool for a way of sort of dictated receive of the big, big superpowers. you could say the us dollars, you could say that you can say the,

the pound of the british certainly pound. so whatever, if he had a currency is dealed by the central banks or filed by the firm. the fed, him, they raise is mean that you have the control and you control economy, you can, can, you can control politics even culture. i mean, you control everything. so when this new way that the sort of new revolution in the financial field for the worldwide show ups, i mean, immediately the people why use is like briefing a new era of, of freedom. and we have seen the reaction of the, of the, you know, the collateral institution realizing these tuition for these like the, our bond and we have all these, i mean, but so far, i think that they understood that this is

a told that they never will win because do you think they might get the impression they know that they've lost this battle? i think they're still probably in the problem statement. they will still challenge that and they will still warming the nation. the government don't run the risk you are losing. and like you said, all these companies, they're moody is, or there's a standard and poors doesn't say no. it's not about he's losing the grade to because they bid money, they're going. i mean, i think those are sort of threat just to discourage as the prophy and they said no, because we have oil, we have gold would diameter. we're not sure our sources because we could be a bad example for ours. i mean that's hello star. been, you know, focus on, on the, on the war economy. i think tanks and many people are more than kudos they are

interested in coming to us. how many people have called me for euro from social medical last call i received for was from mexico. the people that interested to come over here and try to do some sort of research, to socialize with the sales of the existing financial system, isabella, to see how co, how we are managing this bro, you and basically how come we built the legal framework to allow this new or economic financial system, the chorus healed, the bitcoin as a legal tendering, isabella in this, a sort of legal infrastructure. and we are dealing with, does that mean that ill, salvador hasn't how this harmony between the executive branch and the legislative branch. okay. now it's interesting, so let's, let's focus on that. so 1st of all, you began my talking about freedom and freedom seem to be the exact opposite of

what the i map is interested in what the world bank is interested in. what all the central banks are interested in, they're interested in control. they're not interested in freedom. so if you have a country that is now openly free and a population is free and you have an unconscious gable, well, that's a challenge, enter and a threat to their model of control is what i'm hearing. you also said something very interesting. so with big coin, the harmonization between the executive, legislative and the, the executive legislative and the judicial branch of government, there is harmony. a talk about that a little bit. that's fascinating. how yeah, because you know, of the beginning we were, i mean, the image of the person but clearly was present as a new dictator to a new way of detailed sheaves. he was called the millennial dictator. and these kind of general blog ledgent. i mean, something that isn't us obviously not true. now people are realizing that he has on

his strong leadership, it being on a strongly that, that he has up that he wide, poor, poor, are back support for the population. now is that the time of the institution to, to present, to him this back support, and that is the time of the new lay. sure. the new national assembly that was selected in february 2020, 2021. okay. by means kind of a one year ago, it took offers on may the 1st and from the 1st day, many los were submitted to the lease leaseholder from the executive. that's due to the 2 dealers that we weren't in office because we were electing. and i t in 2019, so we have to wait 2 years until a new assembly alicia alicia was elected. and now with these higher money, we have proof that the city branches of the government did you, the city, the lila 2 and the executive are working in harmony and in the same way. all right,

so we're going to come up there when it comes back into a 2nd segment. good for now. we say go by dr. felix. thank you. okay, pleasure to stay right there. don't go away. i will move nice chairs. that's going to do it for this additional, the kaiser report with me max kaiser and stacy herbert again thanks to our very special guest doctor. feel if you are the vice president of el salvador till next time i yeah. ah ah ah ah, what he's got to do is identify the threats that we have. it's crazy confrontation, let it be an arms race, his on offense, very dramatic development only personally and getting to resist. i don't see how that strategy will be successfully, very difficult time. time to sit down and talk with

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