This thought is that the i think that krishna bit going going all are back to two thousand and eight white paper which describes the introduction to it which mentions bank bank fraud problems in the Banking System and problems in the Central Bank System its always been a race against the failure of the Current System the failure of the Banking System in the failure of the money system the fractional reserve system the what youre talking about would require more organization thats possible in an environment of more failing banks in twenty eighteen i think were going to see a big bank like do it your Bank Collapse or some big bank in the u. K. Collapse because as you know and as i know you know they are technically insolvent italy italy will collapse i mean italy is on the verge of collapse that will change that Chain Reaction that sets off and the chaos that and says it will that its not going to be ability to manage that any anyone reasonable way and i think thats why this push to bitcoin and i think bitcoin price the reason is so high is that its discounting ok. Banking armageddon its telegraphing as markets are discounting mechanism theyre telling us that in very near future youre going to have another two thousand and eight banking catastrophe i agree with everything you just said heres my all my issue and im sure you have thoughts on this the government really doesnt suffer. The Money Laundering flouting very readily and the know your customer rules they dont like people flouting those either and they really dont want to with alacrity give up control over the entire field of currency regime so why are they giving all this rope to cryptocurrency well because and the reason is the reason is maxwells because they want to get the the citizenry used to using a Digital Currency and they want to completely get rid of all of paper currencies and like i said this is going to this is coming out of it so i you know i think it is coming into gaza on the accomplishes of that and then they ban all private crypt of currencies for one public block chain that they completely control by the way when they do that they can track every single transaction so the underground economy goes away tax evaders go away and theyll do it under the guise of worrying about you know a m l n k y c and terrorists funding and they have all these subliminal reasons why this is going to be successful and well that well while the public is worrying about what the broad size of kim carr dashin theyre going to be have to have no control left over their money theyll be no protection from inflation the purchasing power of their money can be destroyed at the will of the governments i think youre giving too much credit to governments and if they wanted to coop because they could have during the early years using whats called a fifty one percent attack they could have an awful eyes mining with the resources of one or two governments combined they didnt because they was not on their radar they have no idea what this is. And its completely outside of the they do know though dont think but now its beyond their reach the computational. Robustness of the protocol is such that no country or group of countries or even a global effort could could coopt or usurp the big protocol to point is beyond them which is one another reason why i keep going higher prices because it cant be attacked in that way second reason is that we have. An example here in zero of game theory game theory and if you follow game theory in the National Liberal human this idea where all of the interests of a given scenario are equally balanced the point were participants are motivated not to snitch on each other theres its in won a nobel prize i believe for justice on the movie ok so weve already seen that play out in bitcoin with the Mining Industry you know their chinese are very dominant mining now the japanese are mining was in Eastern Europe or in mining because theres this huge game theory experiment going on where no one ends up having too much control because its gets distributed and the power is distributed this game theory is going to jump to the nation states in other words it will become a Strategic Reserve for Central Banks and russia or china could be getting or japan mining bitcoin as a Strategic Reserve as they would buy gold in the face of a collapsing fee at currency that were seeing all over the world we both agree that feels vulnerable we both know that Central Banks are buying gold we both know that because it is incredibly robust to becoming a multimillion dollar asset one central bank start to play the game through with each other in bitcoin a big mining then thats another reason why youre not going to have any one state come in and decide outlaw it and do this and do that because of the entire business which is going to float to the territory that welcomes this new business so its competition of the fittest survival of the fittest and no one country has a monopoly on this thing its global and its playing out globally you might be right but i think the i. M. F. Together with the global Central Banks to shut it down to memphis bankrupt we know that they were completely bankrupt before they tried to before they interfere with the greece with the troika the e. C. B. And the you and the e. C. And before then they were about to close up shop and go away because they were there bankrupt they then got a bunch of banks to reacquire them Christine Legarde going against your own currency the s. D. R. The special drawing rights yeah special drawing rights hes bankrupt the exact same the feds bankrupt they are a solvent another of your most Leverage Bank in the history of banks backed by nothing but who should i be errors it takes im going to say thats the roll up all the global that into a global special drawing right to bail out all the banks again yes but its another fee out currency thats going to drive more capital into gold and more capital into because i mean that there were as big as a response to the f. D. R. The f. D. R. Just another fiasco r. C. S. Cant bail out a fee our currency with another fee our currency and you know what you know what max you know who really gets hurt is the middle class was flushed down while theres millions and millions of millionaire i now know more cannot believe it was a big coin but because of the inflationary policies are going to be. Inflicted on the American Public and the European Public and japan japanese public and you know the p. B. O. C. Is out there right now trying to keep the ponzi scheme as David Stockman calls it the red ponzi scheme afloat right lets Say Something all these things are going to collapse probably in two thousand and eighteen because we have an inverted yield curve probably by october of two thousand and eighteen billion briefly but theyre still in the short end of the yield curve Interest Rates are higher than the long and deal to right now we have fifty three basis points between the two year and the ten year note thats going to invert now we have the cause credit to seize up. A bank and have paid the positive more than a loan why am i going make any more loans i dont want our deposit alive or went up a lot you know in the credit crisis of two thousand so were adding to our credit crisis how are they good absolutely no i didnt know it was no ammo other things i mentioned before helicopter money universe of ways you can come and negative Interest Rate policies made possible by. These universal because of a fed coin or an i. M. F. Coin in them are they going to ok now theres three billion people on earth with an Internet Connection and now its easy it is easy to go to an app on your smartphone and youve got whatever of the hundred fifty currencies that are out there in the world actively traded and you can put five bucks into a crypt a coin thats going up in value and that your buying power just went up in a world where theyre printing hundreds of trillions of dollars to bail out the worst financial scum a terrorist that ever walked the face of the earth the bernanke is the janet yellen is the Lloyd Blankfein to jamie diamond the guys who make some a big lawn look like mother theresa people react to that and they react physically and this severus lee and they want to escape the matrix of the fia world how you can poor you this how much crap do you own. How many you want to give me for christmas that is how much im going to and how do you allow yourself to be exposed to the ravages of feel and its not i still believe one of the best things about probably currency offer is the ability to move money around the world digitally yeah well guess what there are Companies Like gold money which i own that has a private blog chain that allows me to own gold and monetize it instantly and thats where im putting my hope and they also now offer but my point they offered that well they all are going to know you go cold storage though thats right theyll engrave your and why are they doing that silly i dont know why because the market for gold is dead nobody is buying gold anymore you cant give it away except for sheikhs who want twenty four karat gold toilet bowls that say nobody wants a fricken gold barnum or when you want it well that is thats it and that is it is very said what about this michael plant oh yes or do you describe to the theory that the features gold price is in part responsible for the difficulty gold is having in the physical market to achieve paper gold prices you know a paper gold artificial paper gold yeah i do believe that yes i do people people getting rid of. You know millions and millions of dollars of gold within five seconds putting in a market order right you know when when theres new when theres no market around ok you know that does that in the jet it is accorded basis they do that to hit the price of gold now of course they do you have more legitimate maybe like the price you want to sell a large chunk of gold yeah millions of ounces would you sell it when there was no liquidity in the middle of the night all at once with a market order clear indication of manipulation this but but but let me say this minute delay she goes both ways yes but but but we havent seen him go but tell me ask you this if big point in distant to mediate all the banks and all of the wall street machinery is it then clearing a path for the price of gold to go higher. So im saying ok so i finally agree with him on. Yes absolutely ok there you go michael finds out lowes pick going i have got that. They think they take the words out of. Well we got to go sadly just and things are heating up to come to new jersey next time on what is it please. All right thats it for this edition of the kaiser report with me max kaiser and Stacy Herbert like to thank our guest michael pentode penta of court actually you should go there and look at his work he puts out a research thats extremely interesting even though it doesnt cover pay quite as low dollar does that what it does it to us and not favorably. Twitter yeah were on twitter kaiser report you can follow was there until next time. All to see we have a great scheme we need to strengthen before the free world cold and your bets have been a legend to keep it so its at the back. In one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and im hoping to bring some of that waiting spirit to the r. C. T. Recently ive had a lot of practice so i can guarantee you that Peter Schmeichel will be on the best fall since my last will call him that starts or three. Thousand the joke was only. Brushed. Strife. Left left left more or less ok stuff thats really good. Politicians to do something. To put themselves on the line they did accept the reject. So when you want to be president im sure. Some people want. To go on to be pros thats what im up for three in the morning cant be good. Im interested always in the waters in the. First. I. Know. This is boom bust broadcasting around the world from washington d. C. Im part children and im not just filling in this time im actually in over the years ive been a guest on myriad Television Program then Radio Program i was a guest with ed schultz on his show radio and t. V. And when the news with ed schultz began here at r. T. America i was pleased to join him on occasion and last year i had the good fortune to meet Lindsey Frantz the former host of this show boom bust and enjoyed being her guests so thanks to lindsey france and especially thanks to ed schultz and to the experience an expert management here in america really pleased to host the program and now i get to question more and i cant think of a more important time in my life to be doing so theres more social economic and political turbulence and tumble even a little trouble than ive ever seen in my life my pledges to keep boom bust fun entertaining and lively but to ensure that we do what ive tried to do throughout my career and to let folks in on whats going on not just in washington and other capitals around the world but on wall street and in Global Financial centers the intersection between the washingtons and wall street to the world have never impacted main street an average folks so heavily ive always had strong opinions on many matters but we want we will demand all sides here we wont be overly partisan or oppositional that happens all too often in our society we wont merely drink the tea have our own biases weve become too divided too polarized to the point we dont even listen to each other. And part of that is because many times people are innocently being fed mis misinformation lies lies even political propaganda some of the false hoods are fabricated from