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tv   Keiser Report  RT  May 10, 2019 11:30pm-12:01am EDT

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those who took. it invested over $5000000000.00 to assist ukraine in these and other calls it will ensure a secure and prosperous and democratic. hisor this is that is a report. it's a fake money i want to make. so you see this is beyond crazy and it's beyond kaiser apparently we're now the highs that report you know there's a new company on the nasdaq trading is one of these want to be unicorns it's called
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beyond meat and. it's packaged and sold in part of this new economy beyond any value beyond any protein beyond any content beyond any real ingredients esol artificial ingredients sold as something to save the world and 2018 beyond me lost 20 $9900000.00 on revenue of $87900000.00 and yet it was trading at $69.00 a share $4000000000.00 market cap what it's losing a lot of money on its fake fake me and it's. crazy but investors you know it did pop what was that 176 percent on its own printing and ellen's i.p.o. and this is beyond crazy. me that they're they have a vast herds of unicorn that they raise on the wild plains of north dakota and then
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they harvest those unicorns and they packaged them into patties and they're sold as beyond meat you know and of course it's worth $4000000000.00 because in an era fake news and fake money why not have fake make so fake has become the new real and real it's become too expensive no $1.00 can afford me going forward i mean the idea of getting a porterhouse steak will cost $500000.00 and only warren buffett will be there smith and wollensky every year having lunch with a billionaire eating a real meat that was taken from a cow that will be $500000.00 meanwhile and also being bugged incrusted bug dogs are bug meat and you know harvested from the locusts that are invading our daily lives in a biblical nightmares and then frying the. it up as an upside of having uniform basic locust meet baddies out there be bernie sanders and nancy pelosi get
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everyone's going to get and andrew yang universal basic jack may not even yak me as the acme you are to me no no according me to you know more than i but i'll tell people will believe it within 5 years people will believe that unicorns are real and will be in the period of time where oldsters that we remember a time before unicorns existed and you know another myth going around is that the fed is unwinding q.e. the economy is amazing there's real growth everything is perfect and all those newly minted billionaires on wall street member jamie diamond lloyd blankfein they became personally billionaires since the financial crisis and that seems unusual right because how do they become billionaires and their economy that is decimated and all we have left are unicorns running around in north dakota well the fed will give banks a $36000000000.00 taxpayer funded subsidy this year so this actually comes ultimately from the treasury is paying they pay banks 36000000000 dollars this year
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and this is a something that a lot of people don't point out to what has been happening in the united states in particular it's not happening in europe because they have negative rates on deposit but before 2009 the fed did not pay interest on banks excess reserves held at the fed this practice was introduced as a tax payer funded subsidy to the banks during the crisis taxpayer funded because the fed turns over any profit at the end of the year to the treasury so the fed is paying what should have been going to the treasury and instead we're now we decided through some legerdemain to pay the bankers and said so this 36 $1000000000.00 that is going to the bankers would have gone to the taxpayer and to put that into context how much we're gifting them this year. it's less position as welfare some people don't have that much money and they need food stamps well this is about 50 percent of the food stamp budget so this is how much we're giving these this is
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food food stamps for wall street essentially it's a 2 tier economy there's 2 different worlds that exist in america so if i go into a big bank a bank of america citibank wells fargo bank and i say i want to borrow a $100000.00 and i want you to charge me as your percent interest rate on the and then i want to deposit that $100000.00 i your bank and i want you to pay me 5 percent on that and i want to therefore collect all that income and get a tax free ok can i do that now but a bank can do that yet at the same banks can go to the federal reserve bank as a like to borrow a $1000000000.00 charge me nothing and then i want to posit it with you and i want to collect interest on the tax free the article points out that there is no provision for this to ever be paid back so it's genuinely food stamps for a wall street. food stamp recipients themselves are nonstop maligned on fox on c. and b. c. on c.n.n.
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on the cable news their mind and paraded and made to feel like. nobody ever talks about these bankers being defeated 36000000000 a year and i think it was even higher last year if the banks had been required to take excess reserves back onto their books it would have required financial disclosure of their quality which is probably toxic for many however with the financial accounting standards board recently promulgating financial accounting statements 56 and previously 157 which was the extent of pretend statement it would seem they feel less and less need for financial disclosure of any kind because fast $56.00 financial accounting statements $56.00 states that the government does not have to disclose what it spends taxpayers' money on because of. national security concerns oh my gripe is running the fed so in other words they banks were caught.
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committing accounting fraud that they had billions hundreds of billions of dollars worth of assets on their books that they claimed are worthless a $0.10 on the dollar that are actually worth 0 so the government the federal government institution that we support with our our taxes said gave them a deal they said look either either you're going to have to fess up to the fact that you're insolvent or you're going to have to let us engage in this massive fraud were you borrow money from us for 0 percent and then deposit it back with us so that you can generate enough money to paper over your fraud that that's your choice we started off with beyond me and there used to be a thing called meat and that was taken from cattle from cows from goats from you know various pigs and creatures running rabbits yes bunny rabbits hosts and people would eat this thing called meat then we everybody in their minds was trained to think of me as something that you need protein
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a builds you know power and wealth and internal you know your body wealth and then we swapped it out with a thing that we still called me just like corn corn maze used to have proteins in it and now it has nothing but starch and blah and you know so we created something that just makes you fat doesn't doesn't help you with any nutrients doesn't build body strength doesn't build anything here is the same thing as we used to have banks that lent to the economy lent to for mortgages lent for businesses and tried to create wealth for the economy now the fed looked at their books and said oh my god this is worth nothing however we could have a unicorn economy instead we'll swap all that out if we keep on doing well you used to perform magic tricks and time. where how do you you know distract people you keep on moving. a little cups so nobody knows where where the little ball is what
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we learned in the crisis that it's not insolvency issue it's an illiquid issue you know we just got to keep moving the cup involved faster and faster somebody can look at it so nobody could do an audit of it that i don't do an audit on swapping it between the banks of the fed over no right when i landed in repo one o 5 scandal during the scandal is that every time the auditors came to look at lehman's books they moved their debts to an offshore or a special purpose vehicle then the auditors would go to the next bank and then they would move those back to their bank and then that bank would be looked by lehman so it's this constant shell game that we learnt now you know there is a huge garbage patch in the middle of the ocean that's like 3 times the size of france as plastic garbage that the federal reserve around the world such a banks you have to understand that there exist there are exuding you know garbage if that money is garbage and went away and we find a way all with hundreds of pounds of plastic and it's got in and died from garbage consumption and we look at the average american is dying from the garbage consumption of high fructose corn syrup and there it is i mean the price of of food
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is gone down you know and if you don't you know we believe us it's true i do believe you because i see a massive obesity problem in this country and that's the price of having fake food that even you could charge even a penny for as i eating plastic it is plastic image times it's just plastic i mean there are a lot of fast food restaurants that actually supplement their booth a i liken it to face with actual bags of plastic if you talk to anyone in the fast food industry they'll say yeah you know that that fish dish is actually 20 percent actual plastic that we add to as filler so again the financial accounting standards board is introducing this new. accounting standard of fast 2056 you don't have to tell us what's on your books under national 6. you're ready reasons because obviously the national security issue is that if people stop believing in the value of the dollar
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then or whatever your fee is then of course it all falls apart so i'm going to look at another national security issue for the counter parties to this toxic debt central banks are ditching the dollar for gold so that's what that's a headline from bloomberg i think those go hand in hand if you're the creditor to a nation where they're introducing new accounting standards increasingly basically hiding more and more information about what is actually in nothing burger well 1st quarter gold purchases by central banks led by russia and china with the highest in 6 years as countries diversify their assets away from the u.s. dollar global gold reserves rose by $145.00 tons in the 1st quarter which is a 68 percent increase from a year earlier and it wasn't just russia and china kazakhstan and turkey which also are you know usual gold buyers but new to this this year for the 1st time since 2014 was ecuador cutter and colombia are also starting to stockpile some gold now
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every country where this show is broadcast is buying gold because as we've been educating countries for 10 years now if you know if you don't own gold did forget it you're done you're toast. meat this is beyond what people are seeing that you know if you look at the world and you see that a lot of people are engaged in this they forgot that underlying our global economy even to this day with all that all those derivatives the fact is it's still backed by gold at the end of the day so you want to own the gold you want to own the meat and yet inflows into exchange traded funds backed by gold during january have been wiped out over the rest of the year and e.t.f. levels are now at their lowest in 4 months. so people were taking out even their bike it was a paper claim on some gold they would never get the physical gold nevertheless it was a least
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a little bit closer to the real thing they're the real value the real meat but they've been taking their money out and putting it in to be on meat so you know there at the end of the day once this whole thing falls apart and there and the unicorn is exposed is just a horse with a cone on its head. we're going to be shot right we've never left the gold standard well ok we're going to take a break beyond this segment and say the next over the vast chasm of this break of important information that you simply cannot live without states and for much more coming your way. this is a period of sort of. supposed to just push them out if. you might be able
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to the minute you did it was you know i go to the. loser because it's a feeling. of the good of it all you want to go to the banana. enough well it was pretty good way to listen. to what you say which has. been done. here do you believe you're going to be you know did you. know my look from your during the clue that your competitors are going to. have a situation that is. very new and that's why. it's like a relay before there were 2 when people were dying but in the morning and there was
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no and go to school or do you know the 2 so do the boy it was 3 to right afterward and so i built a game of the as a medic and the widespread simplest routines code of people to date the in many diseases because of these would you call a liberal cup that is. welcome back to the kaiser report i'm ask eyes are time answered turning to the man who often schools the c. and b. c. analysts on what is really going on the economy has made a brilliant videos on you tube over the years check those out they've got millions of is you know welcome back to the kaiser report thanks for having me back although i don't school too many people on c.b.c. anymore because they stop having me on here are 2 good them and the truth hurts you
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know the average amount allan said ok so peter schiff a venture capitalist this week suggested there will be a never again a recession a central banks will not allow it he did not say that was a good thing in the. us forever being in a mic as in japan you know he recently on the central bank the fed changed their policy that they now up when they decide that permanent quantitative easing is the way to go and it's going to work better no although i guess he didn't rule out a depression so maybe he'll be right instead of the recession will end up with a depression but it won't be the pression that people read about from the $1930.00 s. because they're not the pressure that consumers were relieved because prices went down this time prices are going way up and what we might end up having is hyper inflation and that's the worst possible economic scenario look the only reason that the dollar didn't collapse as a result of q.e. one q.e. 2 was because everybody believed that it was temporary that the fed could actually
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reverse the policy and remove the liquidity they had an exit strategy and people to this day still believe that the spike the fact that it's clear that the fed has no ability to do that because they already had a call off hikes based on the 1st decline in the market as soon as we hit a bear market but i do think when this next recession starts and it is going to start i mean we're on the cusp of it now despite that 3 point one percent g.d.p. print in q one if you look beneath that headline there were a lot of problems in that. g.d.p. number and it doesn't look good for q 2 or any of the quarters probably they're after but when the fed goes back to 0 when they launch q e 4 which will be bigger than the 1st 3 combined in fact if you look at the size of the federal budget deficit now the government is borrowing almost a trillion and a half per year and the recession hasn't even started yet which means when we go into recession you can expect 3 trillion dollars per year budget deficit so i mean that's going to require the mother of all q we used to monetize and when the fed
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has to do that nobody is going to believe it's temporary nobody is going to believe they'll ever be able to shrink that balance sheet nobody is going to believe they'll ever be able to normalize interest rates and as inflation really starts to pick up which is exactly what it's going to do during the next recession as the dollar weakens you're going to see stagflation and that's going to result busy in a dollar crisis now one of your former neighbors up there in connecticut ray ballio . he expects what he would and like policies that would be monetary modern monetary theory like policies to emerge soon ok i guess this isn't part and parcel with talking to democrats about introducing all kinds of socialism accent or what are your thoughts on this peter i agree that i think they're going to try it it's just not going to last very long because it's going to blow up very quickly you know we're going to have
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a dollar crisis and then it doesn't matter how much money you print if you can't buy anything with it then it doesn't do any good i mean if you've got all these liberals that think they can finance socialism by printing money well if nobody wants the money that it doesn't matter how much you print because the prices keep going up and you can't buy anything but i do think that we're going to try that i mean we've tried everything else and i think that when this next recession starts and it's going to be blamed on capitalism is going to be blamed on trump and it may well mean that we have a socialist. as a dent in 2021 and a socialist congress and obviously they're going to raise taxes on the rich but that's not going to generate anywhere near the amount of money that they would need to finance this laundry list of socialist programs that they've been promising the voters so the only way to attempt to finance it is through printing money but of course the soka work they'll try it but that the money will collapse in value and then we're going to have a real crisis fanciful let's return to think ah and i know you've got
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a debate coming up with some of our investment has some there are some ideas there so recently somebody moved over $200000000.00 in but going on on chain it costs less than $4.00 to make this transaction and so again when you when you compare that money or even gold how do you compete with that it took germany 7 years to move some of their gold from new york to frankfurt what would you say only $4.00 i mean i don't know where the price was and how much the market had to move to accommodate that large a true larger trade but i'm assuming that there was some type of biscay out in order to get it moves and so there's no way that it was done for $4.00 maybe that maybe the fee was $4.00 but the market would have to adjust the price in order to find a buyer for that large a trade you know you're referring to some slippage going on and in this case there was none the actual cost of moving that amount of money on chain is in fact $4.00 i mean that's the beauty of one of the beauties of this technology and that's why the
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market is seeming to favor in a big way check that out am i want to move on because you can check that data your stop but i want to move on we have some viewer questions i want to ask is there a price at which peter schiff would agree to come back on the kaiser report and look at the camera and say i was wrong about bitcoin well wrong in it what perspective i don't have a upward price target look i mean is it possible that the price a bit quiet king. go higher of course is it possible that it can go all the way back up to 20000 look anything is possible i would say that it's probable that it won't that it's more that i think it's more likely than not that 20000 was the peak of this bubble but could the bulb could the peak be higher of course right nothing is right i think that of the question is not a great question because it's not actually peter schiff that or anyone else it's really the market itself is going to determine what the outcome of this all is so
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it's not really price as a thing much to do with it but let me ask another question from a viewer says. peter ignore technology bitcoin tesla solar wind robotics 3 d. printing ok is this true peter are you are you a luddite i don't ignore technology i embrace technology it just you know why do the people who like bitcoin ignore you know monetary history why they ignore economics why do they ignore logic and reality you know just because there's a technology around big quine doesn't mean big point has any value as money or that it will ever be a store of value i mean i you know i think a lot of people want to accuse me of just not knowing enough about big cohen the problem is i know too much about bitcoin that's why mob buying it you know it's the people who are buying it that don't know anything about it but i think they're too blinded by the fact that it's gonna up and the fact that they hope it keeps going up you have a lot of people out there who actually believe that they are going to be very very
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wealthy and all they have to do is hold onto their big point they don't have to actually work they don't they make any real money they just have to hold on and hope that just hotly is because and they'll be multi-millionaires well it's a nice fantasy but it isn't going to happen but a lot of people refuse to admit that because it basically rains on their parade and so there's they're too mentally wedded to to this to actually see reality have you by chance read safe dana misses book the bitcoin standard. no i mean i've even heard of it ok it's an excellent book will send you a copy courtesy of the kaiser report to get your thoughts on it you know one of the nice attributes of big cars versus gold is that with gold you still do need a 3rd party verification on transactions where with bitcoin you do not this is another way away yet it point you need all these miners to valor a fire all these transactions you need
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a whole computer network and by the way to the extent that actually bitcoin could succeed in scaling up where people are around the world or actually using it on a regular basis as money i think the cost of verify all these transactions as far as energy consumed would be so pretty evident really high it probably would be the most expensive endeavor out of what i've heard estimates maybe $1.00 3rd of all the world's energy would have to be devoted to verifying big going transactions which is an extremely expensive cost to have for money compared to a golden everything comes with the gold and certainly you know it's the plus the owner the cheaper backless more of the shine a light bulb any percent having a 70 percent of the energy. network a big going to israel noble and that number can go to 100 percent so it actually favors renewable energy so let's talk about warren buffett for a 2nd he is of course also ants i've been coined i know you probably don't like being in the same camp as warren what are your thoughts on his enthusiasm for
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a stock buyback so i repeat or is the best use of capital in your view why not return the money to shareholders via dividends instead of throwing it into the stock purchases you know the the top line message is that we want to reward shareholders peter why not just give me a dividend peter they should give me a dividend i mean now that the tax rate between corporate dividends and capital gains are the same yeah i mean why not return the cash to shareholders and they can decide if they think the stock is. undervalued and they can buy more so they are just on why just pumping up the value of the stock options fanner that's all they're doing and it's not right you're not going to get an argument from me but i don't think the government should do anything about it but i think the reality is the government is what's fueling it with cheap money if it wasn't for the federal reserve keeping interest rates artificially low we would be having all the stock buybacks we have a lot of it is financed by debt and the debt is is cheap because of the fed so if
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you're upset about this get mad at the central banks for keeping the game going when charlie munger says up on stage when what was fargo stole money from a 1000000 customers but he said it was quote an honest mistake do you somebody and they investment business are you ashamed when someone like charlie munger be smirched as your industry in such a way. for a 1000000 with all the facts regarding what wells fargo may have done with respect to customers but you know i do agree with monger and with more and buffett about some things i certainly agree with them when it comes to big point you know they have the same problem with it that i do and you know what warren buffett's a good stock picker i mean he knows how to analyze a business i mean i could take that away from him but i do think a lot of the stuff he's been saying about macroeconomics has been wrong and in fact once upon a time i mean he you know he was a buyer of gold he was worried about inflation and big budget deficits he said that
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himself he said that you know he used to be concerned about the budget deficit but now that it's gotten so big now that the national debt has gotten so large and we haven't seen a problem you know now we no longer worries about it well you know i think just because just because a problem gets bigger doesn't mean it's gone away and just because you haven't experienced the adverse consequences doesn't mean you won't and by the way we have experienced a lot of adverse coffee consequences is just not evident in the stock market but it is evident in the standard of living of the average american i mean that's the main reason that so many peace. voted for trump because we had 8 years of a phony recovery under barack obama and many voters knew that many voters realized that there was no real recovery that their circumstances had actually gone down that they were in worse shape after 8 years of obama than they were when he began that i will be better than strong and it was simply you know expanded those policies were at a time thanks for coming on the show ok well that's going to do it for this edition
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of the kaiser report with me max kaiser stays there i would like to thank our extra special special guests going to be debating barry silver in vegas on this famous versus gold paint thinner so if you want to catch us on twitter it's kaiser report until next time. a recent report from the u.k.'s foreign office highlights in detail the persecution of christians around the world in the middle east the cradle of christianity christians facially. why is that deve politically incorrect in the west foundational religion. this is a stick. found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles
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of soda every day the idea was that let's tell consumers there are the bad was there the litter bugs are throwing this away industry should be blamed for all this waste the company has promised to reuse the plastic. on. the mountains of moist only grow.
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it former u.s. government security analyst is facing up to 50 years in prison after being charged with leaking classified documents on u.s. war tactics to the press. u.s. president orders to be raised on the all remaining chinese imports worth about $300000000000.00 that is after he characterized of the trade talks as constructive china is promising to retaliate. human rights activists attempts to block france's arms shipment to saudi arabia as concerns grow that the weapons are being used against yemeni civilians. will continue and you moved.

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