tv Keiser Report RT October 21, 2020 12:00am-12:31am EDT
in the united states not just. the american dream. the dream for. france val's to take on islamic radicalism after the horrific killing of a history teacher muslims fear they will bear the brunt of the government's response when you know i will have to leave the. fall for what they had my freedom of speech as a human rights of activists. and integration issues elsewhere in europe as well a lebanese man is denied german citizenship over his refusal to shake hands with a woman discrimination or justify the quest binion's differ but. he is still here to a totally different value system of. the one which is germany's cultural and.
somebody just a shake and it's not the end of the world. and new countries including germany roll out drastic measures to counter a 2nd wave of covert 19. surge beyond the peaks seen back in spring. those are your headlines my colleague will be here in about an hour's time with another full look at your news this is art. max keiser this is the kaiser report i remember back in the days when we used to hear reports about soviet union and you know they were making too many tanks but they had keep making the tanks because without making all those tanks so they've got a business let's see how this plays into the big picture stacie well we have
a similar situation in america where we have you know so much debt that we have to keep on creating more debt in order to keep the debt market alive and that's all we have is that so we see the treasury market is now so large that the u.s. central bank may have to continue to be involved to keep it functioning properly of course this is what happens with a commanding control situation and we've warned about it and it's here right so the market for treasury bonds the thing that keeps the america afloat is been cut dramatically because nobody wants american treasury bonds and then the u.s. federal reserve bank on the business of buying its own u.s. treasury bonds and monetizing that debt and hoping that someday they would be able to as ben bernanke he said start to diminish their balance sheet and they're going to take 15 minutes that was years ago and it's gone up by trillions and trillions cents then now they're at the point where they have no option but to keep selling
worthless u.s. government treasury bonds and then of course having to print more and more fee out money worthless paper money to buy back their own worthless treasury bonds in this vicious cycle of just of self destruction and i read an interesting quote about empires empires never really die from without they always die from suicide and i think that's pretty much the u.s. trade. market in the us well the founding fathers indeed indeed did say that it believed was thomas jefferson who said that america would never ever be destroyed from abroad but from internally one thing that was established in the constitution speaking of the founding fathers before their totally memory hold we're not really are going to be allowed to remember them but at the moment we're see we still remember what happened with the founding of the nation and that we had the freedom of speech freedom of association freedom of assembly freedom of religion one thing
you're starting to see and it's really heating up lately is that they there's definitely a faction within america that doesn't not want people to be able to assemble online and communicate online to speak freely to each other online they want to monitor what you're saying to each other and make sure you're not having ideas that might make their life more difficult in terms of having to persuade you to join their party or vote for them or whatever so that's why you know it's so important and i believe for all sides the stories i myself like am pretty confident in my opinions and how i see the world that to hear somebody else's opinions or see their view doesn't shatter my fragile sense of identity as you see going on so i want to show you that you know m s n b c is one of the leading advocates of shutting down shows like arc the kaiser report and the kaiser report by the way has been so far ahead of all the other
competition of covering j.p. morgan's crimes remember we were covering out their precious metals manipulation years ago here in kaiser report back in 20102011 i think it's the 1st time we covered that and sure enough the department of justice when they were about to charge him criminally for rico racketeering rigging precious metals markets what they pointed out was that basically a starter almost like a few weeks later kaiser report started covering and pointing out what was happening so i want to show you how m.s.m. be. c. has covered the morgan m s n b c stephanie ruhle films promotional spots for j.p. morgan chase one of the banks she covers as a journalist so she's apparently done some online ads not on amazon b.c. but online promotional clips for a thing called chase chats and apparently it's like all telling you how to save how to save right and as we started like interest rates are 0 percent heading toward negative because of all the crimes that j.p.
morgan and other banks have committed over here so we're still paying those and now they're telling us she's having these commercials telling you hey why don't you it's not aussie it's you that is destabilizing the economy you don't save and you need to say it is 3 reasons why americans should be upset about this number one you've got a recidivist crime breaking j.p. morgan that has a business model of keeping 75 cents of every dollar they steal as they themselves will tell you number 2 they will go out and they will co-opt mainstream media to cover their tracks and they get people that should be covering their crimes to be doing online commercials for them promoting moral causes as a way to be see wash mainstream media wash their crimes number 3 by not seeing what we've been doing a report sense 2010 going back 22002011 you did not hear our coverage because of the dollar and now we go to
a 100 different countries and we created hundreds of thousands of big point millionaires all over the world not so many in america because of the rossa phobia of the mainstream media and the censorship that went on here so the joke is on you my friends but i do want to stress that more than being like a big queen millionaire or anything like that the important thing is that you are not helpless you're not just sitting there a passive victim of the sort of. you know j.p. morgan crimes that they've had to pay a fine and get to walk away so you know it's it doesn't matter how much dollar wealth you have that freedom is more important and that's a good again what the founding fathers of america what i said that that you shouldn't trade anything for your liberty nothing is worth your liberty what i get that but i've already and now 20 years into it realize that liberty is dead in america i already accept that there except that jamie diamonds are correct and i am accepting the decline as
a way out well i want to get on to this the important bit about stephanie rule on this not only is she the senior business correspondent for n.b.c. news and right here we cover business through some financial news fight finance markets and scandal so with this is part this is all of it into one it's a scandal finance and markets so she's doing this online as promoting j.p. morgan chase but in rules case the questions are more than theoretical about whether there is a potential conflict of interest of when she is doing this work for jamie diamond on the side and then she goes back to n.b.c. news as a senior business correspondent well over at n.b.c. in august the m s n b c host conducted a lengthy interview on the network with chase's chief executive jamie dimon about j.p. morgan chase as an issue of higher minority workers we have invited jamie dimon several times onto this program he has an attendant perhaps because he was under investigation by the department of justice i don't want to have to say anything you don't want to hardball interview he wanted a softball interview that would talk about his record on hiring minority workers
but you know in terms of you mentioned ben bernanke you the former fed chairman alan greenspan did say he was willing to tolerate fraud in the markets in order to have efficient markets and liquid markets and he said this in a calm in a debate with brooksley born who was against the commodity futures modernization act which did see an explosion of fraud and the markets and she warned about that but alan greenspan larry summers and bill clinton won that argument they said that fraud was necessary. here we are what we're seeing is mainstream media elites are saying well we're willing to offer so overlook fraud if you will hire some minority workers whoever the victim of that fraud is on the other side we don't know j.p. morgan settled with the department of justice and paid a $120000000.00 fine so we don't know who the victims were of the of the precious metals fraud who is on the other side of those trades that lost you know money to the trading desk at j.p. morgan but whatever those victims the victimization of those people apparently is
worth it if there's some minority hiring at j.p. morgan well i'm one of the victims right because i'm a big buyer of precious metals name and i didn't pick that price discovery and you know i'm a victim and i should have as much say as a victim as anyone else in the society who's paying themselves as a victim who gets a nice film made about j.p. morgan why can't jamie diamond make a film about maximizers victimhood why can i come out there and say all precious metal buyers matter because it's just as important as any other aspect of our society is price. transparency and price discovery that's probably the single greatest most important aspect of any functioning society is price discovery accurate crisis coverage more so than any moral or aesthetic or ethical. kind of set of rules because without sound money without some prices coverage you don't
have a society full stop so jamie dimon where's the foam about max kaiser it's long overdue you never come on the show you have made a film about me and you're recidivists nonsensical fine paying nincompoop you know i don't like all that so here's even reuters saying basically agreeing with what the kaiser report said and yet but we offer you the solution and the solution is to exit the system by a bit quaint and you don't need you join orangeville podcast group you don't need to be in. in this world that jamie dimon controls like it's his it's his financial system and if you want to be in and participate and complain about his stuff then you should do that but you can exit and just say right jamie dimon you know you know what you could do but here's reuters despite j.p. morgan's record spoofing fine deterrence questions remain they don't think jamie dimon and chief morgan are going to stop that a fine is going to stop them from committing crimes and they go to better markets
an industry watchdog recently published its own analysis on j.p. morgan's wrongdoing which covers a 20 year period until 2019 quote j.p. morgan chase has a 20 year long rap sheet that includes at least 80 major legal actions that have resulted in over $39000000000.00 in fines and settlements any other business in america with that recidivist record would have almost certainly been shut down by prosecutors long ago it said however the large banks are effectively shielded against executive prosecution and jail time and that's an injustice and that injustice is felt ripples through the economy and how white people are by their social unrest it starts at the top if there is if there is an untouchable class it only struggles down eventually it might take 20 years in this case but it's working right now what is doubting that jamie diamond steals a right that's not in question that what we're saying here is that the government and the lawmakers have decided when jamie diamond steals is good for society if some a looter out of san francisco steals somehow that's bad for society but of course
they're equally bad i would posit and let the looter keep 75 percent of every dollar they steal or make more tax all right we're going to take a break when we come back lots more coming your way. you know when i'm going to be at their seat i don't think about it at all many grown men not new dorp or. i kind of where i want to. go step back and i think now i think it's higher than are. members of the african mafias conway's them safe and quick passage to europe but once they.
leave they are in sleeves and they count speech util. will not some of them leave your mom and i couldn't you know if this unit can get it out in. the soil the. lead gets all caught of the import of it because the persona that a kid even you scabby the norm. join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you there.
in the. welcome back to the report time now to go to parker lewis unchained capital he's written an excellent declined series called gradually and then suddenly the famous quote from the sun also rises by ernest hemingway parker lewis walk into the kaiser report max thanks for having me on a i'm glad to be here and look forward to chestnut for a bit you write and i paraphrase that the wealth inequality and social unrest we see around us is largely due to the currency that currency is the input the economy is the output elaborate on this one of the ways that i frame and specifically want to talk about decoding is that the activity that happens all around us is a function of money and money as a medium is what coordinates all their economic activity and then. oftentimes people think about a condom is converging on
a single form of money i more think of it as economies grow out of or berge off of the common use of might and everything about economic activity and that's the way that we think about economics today in markets really emerge from the use of one for money versus the other way around and that what we see today in terms of incredible amount or i'd say extreme levels of inequality and growing levels of imbalance and ultimately instability in the economic system is a function of the money that if we're seeing that in the world and i think more and more people are recognizing that that is a symptom is a problem now very few people i think are see what the solution would be to that. it is actually a breakdown in the monetary beat in south that imbalance only exists and that imbalance only grows and sustained because the monetary medium itself continues to be manipulated so worked we are told for the most part that the centralization of of economics and money. for example keynesianism. that form of economics
is something we currently live on in america and around the world and other various schools whether it's the modern monetary theory that there needs to be a centralized control of this money and the economics and what it sounds like you're saying there is that. the attempt to create as you say a policy in a school of thought around money is backwards that we need to 1st focus on money and then from that you'll get your economics is there currently any model or school all that is close to what you're talking about i would say that the school of thought that would be closest to it is the austrian school happens to be a school that that isn't taught you know kind of at least you know i have an economics major i was an economics major from the united states of becoming university and then when you're not taught the awesome school so basically only one
school of thought the keynesian and i really think of it as the keynesian the monitor is the bonnet not modern monetary theorists they are all similar thought which is centralized control of an economy can help result in positive outcomes and i would say i would categorically reject those you know that's the way that i was in a very big stream school of economics and more realistically this size principle that i would would 0 in on is the function of a crisis them within an economy and a racist merges the common use of one currency in that the mere act of what the central banks do in manipulating the currency they cause the pricing system to break down to create rigidity in that price system and they allow ballots to be sustained to be sustained be a monetary manipulation now we've got something happening in the world over the past 10 years and that is the ability to put in to practice what you're talking about there in terms of austrian school of economics because this was. more of
a theoretical concept than a practical one or one that we could try out however with bitcoin we now actually have the ability to put this into practice and i'm curious you know what your thoughts are here but it seems that what we're discovering is all those who believe that let's fix the money 1st and then it cannot much follow us are now watching as bitcoin begins to go mainstream around that very principle is that is that what are your thoughts there next i think you hit the nail on the head there i love this idea which is there's there's there's multiple schools of economic thought there's keynesian. monetarism i don't really consider modern modern monetary thought really a theory i think it's like children's play is just it's just you know kind of johnny come lately explanation for unfettered deficits and really reckless
monetary or fiscal policy within the united states that's enabled by the fed but i can sit here and i can spouse austrian economics and i can send you to the cows come home about why it makes more sense but what we have a decline in is a market and that's the beauty of it that individuals and businesses all over the world they could care less about austrian school of economics for skins in school economics they're looking at 2 different forms of money and they're making a decision as to what's $1.00 which one works better for them and what we see in terms of the price of the rate going up and more and more people adopting is that when it's put to a market test which is between 2 competing economic systems which i really think about the coin is more than just a current c it's an economic system it is competing the legacy system with each person incrementally chooses to adopt it and her 1st to hold it as a monetary medium rather than wait a secret now i should note that you're our ability to articulate these ideas and.
the the writing that you've done got noticed by people like michael saylor who then put $425000000.00 of his treasury over their micro strategy into bitcoin as part of his overall learning curve into this space so this is now. at a time in history when that migrations of the hot alerts and the early adopters now to the corporate treasury has taken place and now other corporate treasuries are following suit. is this an act to add another element to our the discussion here is this an example of game fairy and if so were is that going i do think it's an example game theory because you know again if i come back to the economic principle i think about money as solving an inner subjective problem and that when when each incremental person is evaluating this decision it's effectively becoming easier because more people have come before them that they're looking at the equation when
they're trying to solve an inner subjective problem which it which i guess the solution is money is that everyone's looking around and saying how my going to store value how we get your mediator series of transactions and they're looking at the properties in an objective way of one monetary medium versus another versus another and because it's an inner subjective problem of trade they're projecting out to say what what it works best for me and what works best for me is likely was going to work best for many many more people and as they do that as time passes then it becomes easier because if there's 100000000 people that have already come before you and your decision is easier than like you in 2011 you know making that decision before the next 99000000 came with a 99.9 change and so i think when people like michael saylor make that decision and if they're meeting my writing also recognizing that you know i learned from someone like you and and something that really accelerated by my understanding was safe it
was formative for me and that i'm not necessarily influencing michael saylor all these more resources and you add one on to the next they may be accelerate the process but someone like that it's going to come to. you probably faster than i would have come to it just by the mere fact of a big point becoming more and more dot by more people that that decision with each incremental adopters easier test seems to validate this idea that hard money it tends to change the way people think because you're not inflating away or ideas. not wasting time etc let's talk about an idea that you would hear coming from the other side of the debate and they will wrap that kind of curtis says i'm or perspective and something called wealth inequality because this is something that comes up often and people vote for politicians who say we're going to we're going to get rid of this inequality we're going to spread the wealth we're going to do
this we're going to do that again through a centralized means through a central bank 0 keynesian economic policies so to address wealth inequality if there's doing a speech in front of a folks on this how does bitcoin address wealth inequality parker 1st i would distinguish between wealth inequality and economic inequity and and another piece of that conversation has to come to the difference between economic balance economic imbalance and inequality and 1st from a very kind of course starting point as an economic principle that a quality of al comes is not the gold in any economic system in that inigo all comes are inherently natural and consistent with economic bouts and what we're witnessing today with the current economic breakdown brought breakdown in monetary
mediums all over the world in the monetary mediums is that what we're seeing is economic imbalance eat sustain and when you have a role which economic imbalances sustain the the descriptive or the output piece of that equation is growing in an unnatural and extreme levels in a wall and net that really zeroing in on the economic principle is if you're living in a world of imbalance if the central banks function allows that imbalance to be be sustained and then broke that. it is extreme levels of inequality ground so kind of bringing it back this level of if you can sustain imbalance as a function of the monetary medium you would naturally have more balance and the consequence of greater balance within the condom is less extreme inequality so it's not trying to solve for bitcoin must solve inequality it's that because bitcoin as a monetary medium cannot be manipulated it will naturally allow imbalance to be
eliminated rather than sustained in and i think that that is the economic principle to consider if someone's thinking about the consequence of our money and how it actually results in a more a greater level of balance and all the is that you know as an output not as a let's look at some hard numbers are so bad in davenport over a bit go he tweeted that 84000 bitcoin or mine in the 3rd quarter just cashed up square and micro strategy account for 169 percent of that grayscale accounts for another 70 percent. now. are we going to run out a bit going i mean this is i guess just a question sir because the price seems to be going sideways and i have my thoughts on that but because the available supplies being gobbled up by 150 percent or higher 200 percent river that the demand on the demand side of the curve is exploding prices going flat what do you think what's going on there's a very natural progression of price discovery and recognizing you know question i
often times get audience i view and i think that's probably influenced michael sailors' view when when the fed printed $3.00 trillion dollars between march and june of this year and rip the band-aid off and people say well why didn't you know that that more than double the supply dollars in the system i didn't explain immediately double and i think there's a reality of people are waking up to this idea that it will have to go through their process from ill your eyes and sells will with realistically if it's someone like michael saylor 9 months of military or 8 months that when the connection is made versus the decision to plug into the rails of equating executer 2 very different and equations and timelines and that one is causing the other but the precise moment of causing someone to buy and enter into that the integration is a very dynamic scenario situation so i think what the short answer is we're not going to run out of it. that the that the inelastic supply of the coin is actually
what creates demand and also comes back to this is the question have balance and in balance in all the for supply all the that if you live in a row or more between be created then the only thing that the new entrants can do to get more current and i think about it as not just new entries but people incrementally adopting equate themselves and shifting a greater percentage percentage of their casual things over to that if they want to get more pick when they have to deliver value increasingly with a diminished apply to somebody that already has that went with the network at a. all value that induces that person to start with there because you that causes the the price rises and so i think i just consider this decide ways we have right now is a natural function of price discovery of allowing to be an execution. alright parker lois thanks for being on kaiser report next thanks for having me on the board if we do it in the future again sure enough well that's going to do it for this episode of the cars report with me max kaiser and stacey erects like to thank our guest
parker lois you want to catch us on line do it until next time. is your media a reflection of reality. in a world transformed. what will make you feel safe. high salacious community. are you going the right way or are you being led. by. what is true what is faith. in the world corrupted you need to descend. to join us
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