welcome to the kaiser report imax keyser the bond apocalypse is upon us a new world order of ever rising interest rates will make leverage speculation and decadence thing of the past is your retirement plan to flip your house to some greater fool forget about it want to lock up your neighbor for the rest of his natural life because he dare do something in private to which you object forget about it have the sudden urge to send the troops to invade some oil rich nation you've never heard about until yesterday. forget a budget in fact just about the past thirty years of dumb luck and declining interest rates in which even a monkey could make a thing killing boeing speculating its all over you can just forget about it station or max yes well it just got a little bit more expensive to be stupid unprecedented eighty billion dollars pulled from bond funds a record amount of money poured out of exchange traded in mutual bond funds in june according to a fresh report by trim tabs nearly double the amount pulled out of bond funds at the height of the financial crisis in october two thousand and e

have for the president is been a pretty good read after that i will move onto act of congress by bob keyser who looks at how congress does for initial regulatory reform to explain why the things is so broken. he covered in the 1970's the big difference between then and now it is obvious that the real dysfunction and it is supposed to be of good reid i'm not doing this for "the washington post" on purpose but this book that the look at the 2012 campaign so he is looking at that obama knee -- obama versus mitt romney race. the other is called the perilous fight mrs. from a gentleman who took it to your book leaf during the war of 1812 when washington was really under siege and how it changed it is supposed to be a good read. so i can read to were three of those i will be proud of myself the other one is "the great gatsby" because they never read in high school saw the movie and i hope to finish that up as well. >> [applause] take you very much for being here today. but there are far too many people i did not catch

welcome to the kaiser report imax keyser the bond apocalypse is upon us a new world order of ever rising interest rates will make leverage speculation and decadence thing of the past is your retirement plan to flip your house to some greater fool forget about it want to lock up your neighbor for the rest of his natural life because he dare do something in private to which you object forget about it have the sudden urge to send the troops to invade some oil rich nation you've never heard about until yesterday forget about it in fact just about the past thirty years of don't look and declining interest rates in which even a monkey could make a thing killing by borrowing speculating it's all over or you can just forget about it stay here max yes well it's just got a little bit more expensive to be stupid unprecedented eighty billion dollars pulled from bond funds a record amount of money poured out of exchange traded in mutual bond funds in june according to a fresh report by trim tabs nearly double the amount pulled out of bond funds at the height of the financial crisis in october two tho

welcome back to the kaiser report i'm max keyser time now to go to investing legend and fashion plate jim rogers jim welcome back to the kaiser report i'm delighted to be here about all right jim rogers gold has had its worst quarter in thirty years is the bull market over. well max said that's a very good question and if it isn't how you define it you may remember nine hundred eighty seven stock down forty to eighty percent and many people said the market was ok was it over in retrospect no it was not at all all right and my point is that i my view the market in gold is not over it may go down another twenty or thirty percent who knows but by the end of this decade it will be much higher. the fundamentals that are supporting the gold market are still in place that you did call for a pullback a company last year you said you were looking for a pullback to satisfy i guess healthy bull market has a sharp pullbacks every now and then have we had that pullback now in this bull market are you satisfied are you buying or are you looking for maybe a little bit more of a pullback i bought a t

welcome back to the kaiser report imax keyser time now to turn to our summer cloud of gold money dot com our welcome back to the guys report it's my pleasure max right after you have late breaking news an exclusive report really powerful explosive information pertaining to the gold market but i don't want to get there quite yet i want to kind of review some of these other things that are going on give some background then we'll get into this explosive revelation that you have now in the news this past week we've heard a couple of terms backwardation and gulf oil in the gold markets and the gold leasing markets etc backwardation we've talked about of this show before and it was very rare in markets to have the short term trading at a premium to the three years for six months price it's in backwardation they are building a case of shortage of physical metal for spot delivery ok now go fo we've heard this a few times the last we dig into that what is go for or go for it is the go forward rate and you compare go fo with libel normally what happens is that it is less than libel because wh

welcome to the kaiser report imax keyser the bond apocalypse is upon us a new world order of ever rising interest rates will make leverage speculation and decadence thing of the past is your retirement plan to flip your house to some greater fool forget about it want to lock up your neighbor for the rest of his natural life because he dare do something in private to which you object forget about it how the sudden urge to send the troops to invade some oil rich nation you've never heard about until yesterday. get above to infer just about the past thirty years don't look and declining interest rates in which even a monkey could make a thing killing by boeing speculating it's all over you can just forget about it. max yes well it's just got a little bit more expensive to be stupid unprecedented eighty billion dollars pulled from bond funds a record amount of money poured out of exchange traded in mutual bond funds in june according to a fresh report by trim tabs nearly double the amount pulled out of bond funds at the height of the financial crisis in october two thousand and eight yeah bo

welcome back to the kaiser report imax keyser time now to go to karl denninger of market hyphen ticker dot org karl denninger welcome back to the kaiser report. thank you for having me on max all right the bond market what is going on carl down there well it's really rather simple we've had a thirty year generally downward trend in interest rates if you look at the constant maturity ten year note yield you'll see that the chart goes from the upper left to the lower right it's been doing that since about one thousand nine hundred and this is now out changing to one of two scenarios because you can't go below zero so you're either going to have a flat bond market much like what japan has had for the last couple of decades or it's going to reverse and start trending back upwards and this is very important because in a declining yield environment you can print money by increasing your leverage every time you turn the crank you not only make more money for yourself but you put more liquidity into the system for everybody else and so everyone else makes money and so your options if you hold

welcome back to the kaiser report imax keyser time now to head over to athens and speak with economist yanis yaro factis yanis welcome back to the kaiser report. thank you max it's a pleasure all right yet as greece has just met with the troika seeking the next tranche of ballot funds what is the latest unfortunately we're going to get them like we've been getting them out for fear that have you. there is that there is a charade being formed here as you know max every month or every second month. comes here pretending to be harsh on the greek government or the greek government tended to be bargaining with the troika but in reality this is. just they're just playing out a script the goods of which is to ensure. that public debt takes on but i think debts and do all of the crisis is abusive to go to the shows taxpayers. and then they may decide what to do about this but whatever they do it's not going to end well. let me ask you a question because what you're describing there is. an engineering wealth confiscation scheme and we've got two other examples of something going on similar in c

welcome back to the kaiser report i'm max keyser time now to head over to new york city with reggie milton a boom box blog dot com reggie welcome back to the kaiser report thank you very much and as usual it's a pleasure to be back and enjoy the show. first regimentals and i know you've gone crazy for a google glass why and tell us about your encounter with the police while wearing it. well. i and to supporting grass to be the next paradigm shift in mobile computing to go through people's paradigm shift you've had the invention of the landline phone you've had the cellular phone the old days you had the p.t.a. this one phone which is a sofa be a combination which was a significant jump and the next jump would be about computing. which would be the most utilitarian example that i know of to date is the. fact that not necessary grass itself but the computer style grasses which grasping the most i think capable implementation does for. number one it allows you to. telecommute plus perform computation without using your hands and it gives you a. first person view this can actually come in hand

welcome back to the kaiser report i am max keyser time now to turn to mitch fyrst on author of planet ponzi there it is is the book here it is get it right first i welcome to the kaiser's war again chuffed to be here matt so you're just saying that because jan squirrels use that word and everyone loves her and you're just trying to be a local like jeff skiles i think it's going to work all right so here's today's financial times the bank of england capital taliban choking fragile recovery warns vince cable so this kid will is calling outgoing mervyn king a financial terrorist he's comparing him to the taliban because she's insisting that banks hold on to a minimum capital requirement reserve on their balance sheets now you're the author of planet ponzi right what's going on here is it isn't this idea that they need a certain capital requirement or the wise you just end up with a justice huge ponzi scheme right but we've entered a world of fantasy so basically what we have is debt credit and leverage that that actually runs the markets now so the q.e. global q.e. is basically a giant r

welcome back to the kaiser report imax keyser time out of charge of paul somervell the c.e.o. of somerville advisory market welcome to the kaiser report i'm max all right paul somervell let's talk about hashtags anglo tapes which have been sweeping twitter now first we've got a major reveal coming because you've done some investigative work on this but first let's remind the audience of the story thus far sure it's supposed to start off with the the story but i know irish bank it's not a story by one rogue bank it's basically the story of cronyism in art and so what we need to say is that i know as bank lost a lot of money through the property crash we all know that so did many of the other banks one thing that before we start would be that the irish economy was very fragile no matter about these losses in the banks so they lost about thirty billion so far other banks lost another thirty four billion so the total around sixty four billion for the irish banks you know the r.'s economy is a very small economy so that it's a huge numbers forty five percent of g.d.p. right when yo

george osborne we've got to go read time ok this is the book planet ponzi all right thanks brianna keyser thanks for having me here again max all right that's all the time we have for this edition of the guys report with me nice guys and stacy herbert i'd like to thank our guest mitt feinstein of plan a ponzi dot com if you'd like to get in touch tweet us at kaiser report him so next time ask us and by our. i've seen the perception of the cross many times it doesn't matter if there's snow heat wave ok. hailstones people keep on going i don't expect anything i just want i told myself i keep on going as long as my heart told me to that's all i want to get the moment. i have said so mind she see i'm carrying these sayings on my shoulder. do you want me to put a bandage shared you know that's fine a lot of people were so exhausted they could barely walk their feet hurt and some of them fainted with already back to it three two wanted to keep going i don't know what tomorrow will bring. down like the official publication to choose your language stream quality and enjoy your favorite. if you're

and removing keyser from a benefits plan may not be realistic because they are popular with workers like this woman, who has been enrolled for 50 years. >> i love them, the pharmacy, everything. everyone knows me. >> in sacramento, abc7 news. >>> happening today, ucsf will offer free dental screenings for kids during the city's sunday streets event in the mission. university dentistry residents street residents will perform the screenings and provide education for children and their parents. no appointment necessary for the screenings that will take place from 11:30 to 3:30 this afternoon on 24th and harrison streets. as we mentioned, the fifth sunday street event of the season returns today in san francisco's mission district. its from valencia between 24th and debose there will be free bike rentals, yoga, live music and a whole lot more. it runs until 4:00. >> emirates team new zealand is scheduled to race in the america's cup this morning after racing unopposed yesterday. clinching their eighth point. they will race against the italian team luna rossa challenge this week. and emirates

there's budget instability in washington, and faa doesn't know where it's going to get the funding, she keyser cut -- sequester cuts threatened to interrupt air traffic control. so privatization of p3s have swept around the world but not so much in the united states, so why not? well, there's been a bunch of sort of built-in hurdles that are preventing more privatization of p3s in the united states. a key one is that the municipal bond tax exemption favors public facilities over private facilities. that's a big barrier. canada, for example, does not have that bare kerr. muni bonds are not be tax exempt income and property taxation. if you want, private entrepreneurs wanted to set up an airport, they would be taxed on their earnings, government facilities don't pay income or property taxes. and here's a key thing that people often overlook. federal aid or federal subsidies are often viewed as a positive, but there is a negative crowd-out effect. here's what i mean. before the 1960s the vast majority of urban transit bus and rail in the united states was private. bus systems and rail systems in

of the things i'm watching, and we have this little political environment guide, is watching the keyser family foundation tracking -- it's almost monthly, where they ask questions on the affordable care act and favorable and unfavorable attitudes. and most recently, these are off the top of my head, but something like 37%, 38% favorable and roughly 45% unfavorable, with about 23% undecided, something like that. watch those numbers and see if they start changing. the favorability numbers, do they go up or down? just sort of watch for any major changes there, and that can give you a hint about where things may be going. the next thing is the favorable or unfavorable ratings of the two parties. i confess, i look at a lot of polling data and have for many, many years, this is not something i've particularly paid a lot of attention to in the past, but i'm really starting to. because for republicans to take advantage of democratic problems, they really need to get their numbers -- get their favorable party numbers up, and the numbers are down, and that simply hasn't happened. there's the bran

of the things i'm watching, and we have this little political environment guide, is watching the keyser family foundation tracking -- it's almost monthly, where they ask questions on the affordable care act and favorable and unfavorable attitudes. and most recently, these are off the top of my head, but something like 37%, 38% favorable and roughly 45% unfavorable, with about 23% undecided, something like that. watch those numbers and see if they start changing. the favorability numbers, do they go up or down? just sort of watch for any major changes there, and that can give you a hint about where things may be going. the next thing is the favorable or unfavorable ratings of the two parties. i confess, i look at a lot of polling data and have for many, many years, this is not something i've particularly paid a lot of attention to in the past, but i'm really starting to. because for republicans to take advantage of democratic problems, they really need to get their numbers -- get their favorable party numbers up, and the numbers are down, and that simply hasn't happened. there's the bran

this from the keyser family foundation. the characteristics of the medicare population. 50% have an income below $22,000. 50% have savings below $77,000. 40% with three chronic conditions. host: speaking of affordable care act, tom scully. a tweet from radical, how much did obama take out of medicare to pay i.r.s. for enforcement of obamacare? guest: there are different pots of money. the i.r.s. is funded from an appropriations account. part of the way the president funded the a.c.a., try to call it obamacare, some of my democratic friends get offended by that, there was -- part of the money that came from it was reducing the growth rate of medicare. about half of the funding to pay for president obama's plan came from higher taxes. the h.i. tax went up. the medicare tax, payroll tax went up a little. a mixture of half taxes, half medicare cuts. the medicare cuts were truckses in the rate of growth and hit a lot of providers. it was a mix of tax and spending. mon went drktly to the i.r.s., it's one big federal treshry. ers

of the things i'm watching, and we have this little political environment guide, is watching the keyseron tracking -- it's almost monthly, where they ask questions on the affordable care act and favorable and unfavorable attitudes. and most recently, these are off the top of my head, but something like 37%, 38% favorable and roughly 45% unfavorable, with about 23% undecided, something like that. watch those numbers and see if they start changing. the favorability numbers, do they go up or down? just sort of watch for any major changes there, and that can give you a hint about where things may be going. the next thing is the favorable or unfavorable ratings two two parties. i confess, i look at a lot of polling data and have for many, many years, this is not something i've particularly paid a lot of attention to in the past, but i'm really starting to. because for republicans to take advantage of democratic problems, they really need to get their numbers -- get their favorable party numbers up, and the numbers are down, and that simply hasn't happened. there's the brand damage that you'v