this is the kaiser ri port lots to get to stacey yes well you know we've been talking about the cantillon our class over the past few years since the money printer started going postal the central bank started printing credit for the bailout the global financial system and now soc gen society in general has actually quantify how much just how much of trillions of dollars has been transferred to the top one percent who own the vast majority of stocks and bonds so how much of the stock market's rise over the last 11 years is due to q e here is an estimate the s. and p. $500.00 will be trading closer to $1800.00 without fed bond buying says society in general right now is at $3500.00 it should be at $800.00 if it weren't for the fed buying up all the basically the bad assets off the banks' balance sheets yeah this has a lot of implications ok so without the money printing the markets would be 5060 percent lower ok that's point number one point number 2 is that asic until in fact that means myself i own stocks bonds and gold and because that means that the markets exist as a transfer mechanis

so he is the word cantillon, heir, you know, people are just here away. possessions are very, are in a big question, is, can bring about a lot of philosophical conversation. you know, you do alternate subjectivity when it comes to value. so how does that bridge that doesn't move to be able to cooperate subjectively is to have the sense and move because is that also moved like, you know, this was sort of think about, this is a real whatever. but we sort of converge on the subjective truth of, you know, measurement isn't it so it's so it can sort of by being this objective, truth interests, objective expression from everybody's account. some people call it hyper quantization. already saying in countries like nigeria, where 30 percent of the population has already moved over to a big point. standard less money management business for sure. going short the bank of england. he's now anti us dollar. is getting into golf a. he's also getting into bed coin toxic potter jalen has made the same comment. do you think he's right? that the dutch in this new 21st centu

this is the kaiser re port lots to get to stacey yes well you know we've been talking about the cantillon our class over the past few years since the money printer started going postal the central bank started printing credit for the bailout the global financial system and now soc gen society general has actually quantified how much just how much of trillions of dollars has been transferred to the top one percent who own the vast majority of stocks and bonds so how much of the stock market's rise over the last 11 years is due to q e here is an estimate the s. and p. $500.00 will be trading closer to $1800.00 without fed bond buying says society in general right now is that $3500.00 it should be at $1800.00 if it weren't for the fed buying up all the basically the bad assets off the banks' balance sheets yeah this has a lot of implications ok so without the money printing the markets would be 5060 percent lower ok that's point number one point number 2 is that asic until i'm a fact that means that myself i own stocks bonds and gold and because that means that the markets exist as a transfe

so is the word cantillon, air, you know, people are just yet their way positions of security are very now because one is it can bring about a lot of philosophical conversation. you know, you do a lot of this worry in your writings and in your part cast. here's a philosophical question for you. talk about objective truth. but in, because we also talk about how it allows people to express their ultimate subjectivity when it comes to value. so how do you square that to? i mean, the only way for us to be able to cooperate. subjective league is to have, this is like some sort of fabric that doesn't move because it's that also moved like, you know, this was sort of think about this is like if you and i want to come together and build a house, you know, we might have different tastes and, you know, we might, some different functions, like i might be, the captains, you might be the tile or whatever, but we sort of converge on the subjective truth of, you know, measurement is, you know, we measure things in inches. but if you know we were doing, if you chose inches, i choose the meat is them,

and again, you have a cantillon, a fact, and you know, you see that playing out in our us a lecture. it's those that where the federal reserve banks are chicago, new york, boston, dallas, san francisco. those are close to the money spigot, though, and those people think they're better than everybody else who are all deplorable who don't get the money 1st. and they think it's, they've, throughout history, humans tend to do that. they think it's some sort of divine right. they've received that they're superior to everybody else, and he points out about obama. and again, he's talking about the 200-2009 financial crisis and the missed opportunity that if obama were a guy who actually cared about markets and cared about people, he would have done stuff differently. so he's saying the political problem we face today in appalachian elsewhere boils down not to a debate over socialism versus capitalism. but to something simpler, obama was a really important president at a pivotal moment in history when a financial crisis gave him wide latitude to restructure our social obligations. and he scr

and the fed and how money circulates another term often heard this year and last few years is the cantillon effect ok this is speaks to wealth concentration and how this money does or does not circulate. is is is that part of the banking plumbing the that i can tell in effect is that an underlying cause of a lot of. the wealth concentration but now we're seeing a lot of social unrest that's coming with that wealth concentration on that and the divide and disparity in society can can can we point to the console effect and say look this is a primary cause of this when i think that's a big. part of it yeah and if you look at you know over the long term we've had basically rising wealth inequality since you know about 40 years 45 years or so ever since around the mid seventy's it start to go up and you know there's a variety of factors for that there's fiscal policy there's monetary policy there's all sorts of reasons you know there's technology that basically takes something we've had a you know geopolitics this this big kind of offshoring movement we've had it really excel or it in the ninety