russia's response, which far as i knew some has still isn't running the fed all the bank of england joins me now from new york city. i presume it, you're not the head of the feds yet because you're speaking to me from new york. you spoke to me in london last time. um so that a check that uh cuz people. yeah, absolutely. i'm in new york still not headed the fed. i think that they've got a guy sitting there that is about to explode the global finance, as we know it today, because janet yellen was promoted after receiving $7000000.00 from the big banks to be inserted into the position of secretary. ready of treasury secretary, well i don't want to pay the either way. you're going to tell me interest rates next month. anyway, let's get straight to the chaise. here i saw a tweet from the right to caitlin johnston. has many photos onto the saying the us the right, this is right. the thing uh, the us health care and infrastructure system, you must be watching it in new york. the let's be phenomenal given how much americans can afford to spend blowing things up. i didn't know whether she meant the north stream. take us back to planet ponzi and,

and how broke is the usa girl. it's incredible. actually the, uh, the system here in new york is breaking down because they have bus loads of people coming. you know, the open borders and in the south are busing people in here and there are just tens of thousands of people showing up here every week and every month. so the population is being over run. so it's a bad situation. the debt situation in planet ponds, the bulk of the planet ponzi. the book is, is about the credit crisis. i wrote it back in 2012. it's more relevant today than it was back then. it's a historical document. i know that we're trying to destroy traditional norms, values, history, religion, and cast it aside because history begins today. but the fact that the people that i was advising didn't jail bankers because fraud was committed. and in accordance with what alan greenspan said after the crisis was a former fed german shuttle reserved german that caused all these problems by

creating the easy money and negative interest rates. so this document will survive everything and what they did is they play prey and delay a deny and lie and take the can down the road with the systemic banking problems that we see. and they're manifesting themselves today with silicon valley bank and credit suisse. because there are, there are still a lot of rock out there, but what's happened is we've actually gone the wrong in the wrong direction for businesses we've, we've gone work and we've placed a high value on identity politics. and using your gender identity as a means to obtain employment. now rather than america, meritocracy based system where what you achieve in what you can produce is a good thing. and that's why i would say that the economy is identity versus class . because clearly, more of the graphs and statistics you have the wealth transfer from the poor to the rich as a good, but i just want you to if, if some people haven't read your book,

just very briefly explained. and remind us who ponzi was and what is up on the scheme and why all those major banks has analysts. we can watch on all nature, nature and mainstream for go mainstream media, giving us advice and telling us about that ceilings and whatnot. how they're all part of that system. right? well, that's part, you know, there's groups, think echo, chamber stuff. now my book, you know, is, as i said, it's just as relevant today if not more relevant today than it was when i wrote it because, you know, basically a ponzi scheme, this, the original ponzi charles ponzi was trading in postal stands for postal receipts. but he was taking and lots of money and he was guaranteeing returns, but a traditional ponzi scheme or permit scheme. what it does is you pay some of the investors back with new money coming in and you spend away all the money. so there are no real returns. i mean, bernie made off was probably committed the 2nd largest ponzi scheme in the world.

besides sam bank meant fraud or sand bank and fried, i'm sorry. who is the crypto currency person that actually stole $10000000000.00 in customer funds? and, and now he's relaxing at his parents house in california and didn't really pay any bell. but i think because he contributed, or he was the 2nd largest contributor to the democratic parties. 2022 election cycle. that's probably why he's not being prosecuted yet for conducting the largest ponzi scheme in the history of ponzi schemes. so a ponzi scheme is when you, when you just take the money and spend it recklessly. now what i refer to is planet ponzi is a massive amount of government debt around the world. so they've printed hundreds of trillions of dollars and guarantees and 100 ink and, and that the debt can never be, are paid. so the debt situation is what you asked me. i would estimate the debt is close to $300.00 trillion dollars in america in the usa right now. um,

i think that the number that you get, the headline number that everybody talks about is the 31 trillion dollar number. but that 31 trillion dollar number doesn't include medicare, medicaid, social security. it doesn't include all of the legally binding obligations. the government has to pay and no social security is not a benefit it's, it's what kind of like a pension fund. so i, i paid into that system for my entire working career. so i'm entitled to be paid that money. that's my money. but the governments have spent that money, that money's gone. so they were expecting a lot of new entrance into the market to pay out people, the older old, older people leaving the market like myself. so that's what their, their expectation was. so that's a typical ponzi scheme. but if you read, they have to publish a report every year in the social security, and i reference that in the book. there, they're in solving pretty much. and i think within the next 5 years, they're going to be in solving. i don't know where they're going to get the money,

they'll probably print and that's why we have a record inflation around the world right now. and i, i would say that the less the, the less the smaller countries are going to hurt worse from the inflationary numbers. because the bigger economies, the g 7 economies are exporting their relation to other countries. but you know, we can get into the talk about us dollar had germany. and what's going to happen with that has, as, as countries have say enough is enough at, i'll give leave. but of course there are dangers of like getting into a grocery shop as business that you did. joe biden immediately liked in the us debts even just something from family finances because confidence to be able to run ponzi schemes, or if you don't agree with the your thesis and say, this is just the one does a global capitalism. this is about confidence. you know, it's not the balance sheets, would you say are all important. how important and critical is the media in being able to play that confidence, which is with the minute confidence is lost,

according to a oh book and the i knew your ideas and do any one's these game is that it's right they, they all falls down like as gods. right, well you know, the best example of that is the, the bank of japan. i mean, you know, and i mentioned the bank of japan, the book and i talked about the banker trad corrode. the son strode a son who just retired and no new academic has come in and who's he said, i've got even more experimental monetary policy corroded during his reign. i think back in 2015 on the front page of the financial times you can find it. and like i say in my book, don't take my word for any of this. you know, i do an in depth analysis cuz i was sitting at ground 0 in london, one of the biggest funds in europe when i went in the collapse happened. so i detail every aspect of what happened more so than anybody else from an insider's perspective. so getting back to corrode a son, he said at a meeting, he said that he used peter pan as an influence for his monetary policy.

and there is a picture of peter pan and somebody said, could you elaborate on that? and he said, yes, well, everything is okay when everybody believes that you can fly until they stop believing what he, why are you? he actually said that and the meaning of the picture, peter bad. so the problem with the japanese economy and, and why i've been warning that the west is turning japanese, i really think so. is that which was happening is that, you know, vapors per right have per purchased all of the bonds in the bond market because basically they don't sell their bonds externally. the debt is held by pension funds, which they jam into the department, the postal system that holds most of the pensions in japan and, and make the banks by the, the, the debt there. so the debt is contained there and then they came up with this crazy idea of yield curve control. then they started buying all equity, so equities can go a lot higher. here's, here's the quandary i have in japan. and i think that you really have to watch very

carefully what happens with the deterioration of their currency. they can either save their bond market or they, this is my view. they can either save their bond market where they can save their current. they can't say both and the people who know how to trade those 2 markets will be very well rewarded because i think that's going to be a signal as to what happens in the west. well, i think, you know, pick you do the 2nd things i might have found the fact that the russian by a former atomic bombs like was the g seven's location with japan still as the most of us treasury. that $1.00 trillion dollars. you know how carefully china is that to tread with the domestic itself of the us treasury bills and debt. i mean what, what, what should japan do? ecologist dump one trillion dollars worth of death on the market. but china has that trend has over a trillion worth as well. so i mean, because of things are 876000000. but it's, it depends. it depends how much,

how much you owe somebody makes them either the credit or, or your partner. and when it gets to numbers like that, they're your partner until you can sell it and then you can do whatever you want. that's why, you know, you don't have to worry, they're still leverage. they have a lot of leverage in that. so what happens with that, i mean, it's interesting that you bring up the hiroshima and you know, i was a bit confused about the seattle x in hiroshima because i didn't, i didn't realize that participating. all those meetings. you had 2 heads of the you didn't realize that they were g 7 members of the g 7 meeting. i didn't realize that the was admitted to the g 7. i just thought that it was the heads of 7 countries. so you know, the photo opportunities, the propaganda, i mean, it becomes a little bit nauseating for, for most news consumers because it's curated in accordance with the narrative that they want to put out. so the 1st thing that, you know, i can give you a quick thing. i was at a wedding over the weekend that i went through and there was a person there that absolutely had no idea what they were talking about geo

politics or economics it. somebody's wife and they said look, you need to go home here. i'm going to go to tell you, go, go home, go around your house and unplug all the tvs. and then take a pair of scissors and cut off the blogs. because obviously you're watching something really bad. and it's giving you woke mind disease because it says that in america, i think people are just addicted to television and they just watch and believe anything that they said. because i asked them for a reasonable explanation of where they got the, the data and facts behind what they were telling me. they couldn't tell me. i said, well, you know, if you, if we do a, this is what is going to happen. be is going to happen and this is a bad outcome. so we've got to look at where we are right now and how we can move forward. and unfortunately, the media is absolutely dishonest and what they are political activists. and they, they are practicing journalistic activism rather than reporting both sides of the story and letting people on us decide what they want to do. they're telling people what to think, and that's the same thing with this crazy bbc verify and off common the whole

shooting, match our ministries of truth, which is a danger. it's the biggest, extra central threat to democracy in our lifetime. what's going on right now, mich, i'll stop you that more from the 2019, you can't break supply the candidate nose or a planet bones the other will go into this mess. what happens next had to save yourself after this break. the, the russian states never is as tight as i'm one of the most sense community best

most i'll send send up the, in the system to progress be the one else calls question about this, even though we will then in the european union, the kremlin mission, the state on the russians cruising and split the r t. suppose next, even our video agency, roughly all the band on youtube tv services. for what question did you say a request, which is the welcome back to going out of the garden? i'm still with me twice and for the hedge fund manager. what was the reply that punch in 2019 u. k. breck supply the candidate, bbc verify, which is

a new initiative. apparently, by alleged a british intelligence as a link to a circle join list of a to verify the truth. we on like you recommend people watching television outside the or be in union because this is globally broad costs. but as you say, the nature of propaganda is useful in uh, in all of this. um, what about uh, how, uh, able you populations, british populations the united states populations are able to cope with the levels of degradation of infrastructure at home. and the high, coupled with high inflation, we're not seeing the kind of civil unrest we saw during the voucher reagan years with inflation was up the past 25 percent. so i mean, why, why is that, or is that related to the prop? again, the model of your outline for you that we've got a couple,

a couple issues there that i can address the highest part of the highest inflation rate ever in the history of america, i think was 23 percent in the 19 twenty's. um, well i think we're probably close to 20 percent on the real inflation rate rate, but the way that they calculate it today, obviously they retrospectively create those numbers. why are we not seeing civil unrest yet? i think we will see civil interest. i think it's a gigantic problem that nobody has dealt with. the separate issue is what we have is a stakeholder, capitalism versus shareholder capitalism. i don't know if you know what i mean by both of those, but i'm happy to explain that if you give me a minute go ahead tuesday. okay, well what we have is, it's like a harvard business school case study. it's, it's of the ideological war that's going on right now between the 2 of them and, and the, the, the thing is if we use bud light as an example. and alyssa, how should hyphen shelled, who did a video other than that are available and given them? i'm in the middle east. no, no alcoholic when it's too late. but she said, i'm

a business woman. and she was dripping. and arrogance. and entitlement and how that, you know, big rainbow and the unicorn behind her. and she said, you know, i'm a warton graduate in a harvard graduate. and this is a woman that put doing laney, the trends the influence are on to say, well, we want to be an inclusive brand and we're going to shift the tone because this is a bunch of out of touch frat boy, humor. and now this cost and highs are bush $10000000000.00 and market cap. she destroyed $10000000000.00 and market capitalization with her work. s. right. and then she saying, well, no, it was not really the leading brand, it was the leading brand. and the reason why the brand declined was because of that as the advent of different entrance into the market. you have a record number of microbreweries and different types of b or the, entered the marketing united states. so there's competition, but, but the light was always the biggest brand. and the reason why it lost some of it headspace is because other participants in the capital a system came in to compete with them. so it was more of

a capitalism thing then. oh it's, it's all bunch of advertise trapped boys now who is really out of touch. you have somebody that graduated from harvard. it's never been wrong and graduated from wharton. it's never been wrong that actually blew it up. she's still employed there and she will be and i don't think they should fire her. but i think that what we need to learn is boycotts actually work and how powerful that consumers are. you see, i know ralph today, they said this. i'm more successful in some ways as regards can see where blake lunch, but i mean, you know, i coca cola or uh, we know it was uh, alleged to be operating all sorts of and if areas practices in the developing well it, it to, it doesn't work because it, well, i think, i think it has the denies anything wrong by the way. well, no, i, i look, i think that a lot of these companies are doing the wrong things and a lot of countries. and i think the big farm is doing a lot of things wrong in these countries, but i think the combination of people being lied to and,

and having politics jammed down there throughout. but they have power and you outline in your book around the of the fact that the politicians in washington and the politicians in european union countries are largely have. they would all deny that basically board might as well be board just we have to move on just say a bit quicker, right, joe, to war and how you, how you see the war in europe and whether lobbying by a multinational companies, a game is to the for their, against the interest of the peoples of your and the united states. i mean, in terms of what's going on in ukraine and the conflict? well i look, i think that's a misguided conflict that i think that you know, once again the media is a 100 percent to blame for 90 percent of this. i think i think this 4 should have never happened. and i've done a lot of interview since the beginning and forest johnson discovered the peace talks in turkey in march 2022 and had no security. been assured,

none of that. we wouldn't be where we are today, and there wouldn't be $400000.00 dead ukrainian soldiers pay them and make the money out of this war. well that's, that's the point. the point is that the military industrial complex sells trillions of dollars in weapons of war throughout europe to restock the stuff that blows up. and it doesn't matter who dies and your joy, david eisenhower on when he left office warned about the military industrial complex standing too much power. and you know, you've got a guy in the form of lloyd austin, is a secretary of defense who needed a dispensation to get into that job. who's a raytheon lobbyist. so he was making a nice chunk of change from raytheon. now how much do you think he's gonna get paid when he leaves? what, what's it in his interest financially with lingering on that? so every pay treatments are bad to me that we see being blown up. lloyd austin, the boss of the pentagon, is money for right or not? i don't know if he does, but when he gets out, i'm sure that he'll get favorable treatment of the job. right?

because it's the same thing with the $5000000.00 the $5000000.00 in fees. and boris johnson got. so i still don't know how he got paid in months since leaving office a number 10. he got paid $5000000.00 is public record. you can look it up that he got idle you haven't, rich rand, actually to do with the digging companies and he denies a little wrong doing obviously, hopefully it's wrong. we will, we were mentioning confidence. the sanctions obviously haven't worked but how much money has been stolen from russia, venezuela, by the bank of england. and what confidence does that mean across the lobos as about being able to deposit funds in the european union, britain know the united states, which presumably is a cool element. i mean, in a sense we're talking about confidence all through this interview at what, what does it done to damage confidence? a sang please, you've got a legit theft. but you've gotta, you've gotta, you've got a whole host of issues there that you've got to unpack one by one. now, you know,

you have the issues with the russian central bank for the money receives no central banking was always sacrosanct and, and they were immune from any kind of sanctions, prosecution, persecution, or seizures of funds. so that obviously, you know, out of some dictate that somebody made, they decide to freeze those funds and take them. so what does that mean? that's the same thing that happened with the certain banks where they have sanctioned deposit confiscation. so how does that play out? i mean, it doesn't play out well for the property markets for foreign investors in any of the countries that were willing to undertake those. um, draconian methods to seize assets from people that were not directly attached to this for, i mean, just because they had a russian last name, a lot of money was seized and you know, the best not right in any, any part of the world or, and it's not going to instill investors or give them confidence and in math, investing in those countries that said, you know, if we go back to 2019 uh, end of the year i did several interviews in and people are asking me what i thought

the next decade would hold and what my biggest prediction would be. i think the next decade we will see the end of us dollar gemini, so as the reserve currency usually runs and cycles with a 100 years the us became the reserved currency in america. 1913 when the federal reserve incidentally opened up and i said, you know, if you look at the decline in the value of that currency, it's probably 98 percent since since it's onset and it's eroded away to almost nothing. so i think that there's structural problems that we have been seeing this for more than just during the ukraine rush war, which is in, in, in effect the proxy war between the united states and russia. and nato is insignificant. knew it was really a segment of people's imagination. they don't have any real troops. so, you know, this is a war between america and, and russia. and i think that it's, it should be settled. i think that, you know, nobody benefits from war except the military industrial complex and the politicians,

or getting, you know, showing their pockets. we had an obama, especially, we had an obama special advisor of california relations. man, professor got charles group. jenny said 2016 before this d dollarization dream. if the global south is going to occur, how carefully does china and japan as was have to st. and britain that $655.00 really have to start removing belgium. lux, unplug island came, and these are the top would start removing their us treasury bills. so they don't destroy themselves. and how, what time scale, do you have a 2060 before people start putting things in countries other than netflix? like i don't think 2060, i think i think it's, it's before the end of this decade. 25. that but but no, no, again, i mean we, we saw credit suisse as you mentioned at the beginning. i mean, i, it is quite amazing how the circle, mainstream corporate media. i've tried to make that population ignore some of the largest bank failures since 20 wait and in history this. yeah. how many more banks

are going to go bus this year then then alone? the, the dollar eyes ation, which will create your own nation for banking in the global south. yeah. is that what they're doing? they're putting, they're putting lipstick on a pig in telling you it's a super model. so, i mean, has that ever worked in history? no, it hasn't. how many banks? i have a list with 225 likely candidates to go boss. and i think that i think that a few 100 is a, is a good number. now, what does that mean? does it mean you should run to the bank today? probably not, but, you know, i, i know that they're not the f d. i c's pretty much bust so they're gonna have to pay more money anyway, you look at this, this is going to be highly inflationary and going to have ramifications on the us dollar. so this is a huge problem that nobody, there are no adults in the room anymore. that's the problem. and you can't trust any information source you're getting, you know, the new you have to be able to do your own analytics on this as i've been doing for my 40 plus year career. and i'm, i'm pretty negative on the banks because you know,

the, if you go back and look at what happened with silicon valley bank, the real reason behind that is a lack of leadership and a lack. and i said this on an interview in the u. k. in london, the day that silicon valley bank went down, i said that the problem, the cause was failure, is a lack of leadership and a lack of enforcement of existing regulations. and i think the examiner said, oh, the reason was on leadership issue. and the lack of enforcement of existing regulations. so you know, i can see what's going on. we do business with that bank. i pulled everything out of that bank in 2017, after meeting with their top people several times. and i said these are the most they have the absolutely clueless. so the federal reserve is the big problem. and this is what i got at the top, except that those in the, in the, sorry to enjoy but running out of time, those in those are leads, will have read your book. not as a warning, maybe as a manual, just finally about commodity price manipulation. surely those and what's to stop

them from increase. i'm not talking about traffic where i would sure deny any kind of judges according to the o. j. i'm doing much more generally about commodities, which is so crucial to everyone's daily. bread and milk can been busted. uh huh. how, how do you expect them to use your book? the most likely way to realize the necessity as regards inflation, as regard civil unrest in terms of manipulating the price of commodities? well, i look at, i think, i think what they need to do is obviously if somethings broken, it needs to be fixed. and this has been broken for quite a while. and what they're doing is repeating the same cycles. they're going to the same people who broke it for a solution. the people who are in those jobs are, are not getting paid enough. and it makes them susceptible to taking back handers. and it makes them have very bad ideas. and i'm what we're doing now with what i've seen in society and said the mass censorship and the oligarchs of silicon valley. determine what you see when you see it or what you don't see and hiding what they

don't like. like i'm censored, i disappeared from linkedin, i'm on some stacks. so if you want to read my stuff, go there. but i mean it's, it's a difficult place when things are massively censored to try to get a word out to people. they need to get better experts in and they need to, we need change, we need to have our freedoms restored, and we need to have stop, have having our will and a free speech and thought suppressed. because the only way a society can move forward in advance is if we can have a civil society that has reasonable discourse and debates, open debates with alternative view points, but that's not allowed anymore. if you have an alternative view points, if somebody doesn't like to hurt my feelings, i'm going to get you cancelled. so you know, you can't have what's gonna happen to society. it's, it's more of a do tutorial a tyranny. i mean, is this toby and how that we're headed towards at a rapid pace, and i think that we need drastic change to do this to,

to get out of where we are today on that happy note. i guess commodity prices there when i go down, i don't know, we'll have to come back again and tell us thank you so much for going back on the show. thanks for having me. and that's it for the show. remember, we're bringing you new episodes every saturday and monday, but until then you can give it to us by or less, which will meet you if it's not sensitive in your country and had to have channel going on. the tv on mobile dot com to watch new and old episodes of going underground. so use the the finally the, let's see the, with the temperature is 3 degree higher already from the neighboring down woods. you know, right? because the other down ships haven't dropped of the trees, but in tucker in the name of development. and he's our 1st to become

a capital like a single we are all going to are the nice the issue then just covering all the greens with the phone. so when you distract nature, it takes the, which i thought there were some openings to students, the sluggish north carolina lecture when they 1st came this, the post is all the at the is that i, that's a get a minute come. other sponsor i need which is easy to saw on the screen. so of course to ensure material, which is the model i'm willing to identify to lock the door is only once again is busy or by little screw. well, in the you little something in the we did present it to not get the

results. okay. would you 20 in the to bundle? would you do me a solution for children? i'm comfortable too much. we want you to deals like the headlights stories this hour. the russian military rep pals, kids countries expensive attacks on the front lines of the box as the premium president tours. nate to member states with a fresh appeal for arms and munitions. claims of hypocrisy are leveled up the us treasury secretary following her criticism of china is barriers to foreign firms. janet jo ann's visits of aging comes amid in flames. economic attentions between the united nations and more emergency of the.