A way that would mitigate the risk of having too much inflation this would usually bring about some equilibrium for a brief period of time before you had the opposite taking effect the prices would get too low and then to stimulate the fed would lower Interest Rates and this is the quid pro this is the give and take between the fed and the economy the real economy then starting really in the 1980 s. Under reagan and thatcher and deregulation you had the fed takeover and their sole purpose at that point was to try to squeeze workers completely out of the Global Economy so wages never went up real terms since then but stock markets keep going up and the reason to justify this is that the fed will say we need to try to take care of deflation even though that they are causing deflation in an environment where their money printing is increasing the debt the. Debt load we have an incredible inflation of debt the debt explosion but we have no rise in wages if wages reflected the actual money printing thats gone on sense 985. 00 wages would be 45 to 50. 00 an hour right now if they kept track with the money printing but they have allowed china to come into the Global Economy theyve outsourced all their jobs to china and theyve gotten rid of organized labor and they have pretty much davis aerated the middle class in america and they let the fed print money for their friends but it never enters the real economy in fact the numbers 33. 00 that the minimum wage would be apparently if it kept track with inflation but also like where it was on course from 1. 00 to 71. 00 when we went off the Gold Standard so this is that you know people no one longer understand the you know its a secret sort of. Holding the public well its a private ledger that the central bank keeps we dont really know how much money theyre printing but you can tell by the fact that you would be earning 33. 00 an hour at the minimum wage today rather than 10 which is what it is you also mentioned that like the capacity of debt the earth carrying capacity is reaching a limit and i want to turn to this interesting story and this is. The race to get the world the u. S. Food and Agriculture Organization to head that. And it could already be decide its been decided this month but the interesting thing is the race for it its basically between a guy from china to run the world food organs the uns food and Agriculture Organization and this frenchwoman and this french woman what shes doing to win the spot shes trying to get the u. S. To back her the u. S. Backs a candidate from georgia really but what shes what she had to do to get the u. S. To back her candidate to run global food body will not defend e. U. Stance on g. M. Which is genetically modified organisms catherine just lain tells the u. S. She would be more open to its interests in her u. N. Role if she got it europes candidate to run the uns food and Agriculture Organization which guides policymakers around the world has promised the u. S. She will not defend the e. U. Position in resisting the global spread of genetically modified organisms and a bid for u. S. Support catherine just plain lenell told senior u. S. Officials that a meeting in washington on the 15th of may that under her leadership the f a o would be more open to american interests and accepting of g. M. Owes and gene editing according to a u. S. Official at the meeting well lets go back to the history of what was called at the time you unix see. And this was a product from monsanto which is some spend a lot but it gives you an idea of the intention of the g. M. O. Industry these seeds are terminator seeds as they were also known is that they create a plants that were incapable of reproducing so every crop was did not produce seeds right the would not have the corn would not have it save your seed implanted again which is what farmers have been doing for about 5010000 years right so you needed to buy new seeds every year and then the price was controlled by. Monopoly who hold the intellectual property and this gave rise to a lot of suicides in india as my friend thousands of farmers when this was still going on with committed suicide so this gives you an idea of what the g. M. O. Industry is all about theyre all about turning food into intellectual property having it governed by intellectual Property Rights which create monopolies and monopoly pricing and its an extinction event for humans in a lot of ways and if youre not able to pay 500000. 00 for a meal lets say under a scenario like this then you will not eat that is important to look at it goes with that 1st story of you know the only way the only protected industries anymore in america are finance which is new york city maybe boston and hartford like the Insurance Industry as well. Then you have the military Industrial Complex we have the basically the monopoly position on gun violence around the world on force and thats in washington d. C. Intellectual property is by and large in los angeles to hollywood films and Silicon Valley through you know Online Software and stuff and you know aquarists in seattle so those are also where you see the huge property bubbles the barrier to entry is a feudal system but here with this. Genetically modified seeds yes its an intellectual property issue but its ha so like a serious you know you could put this into the context of say the 737 max you know whereby we had boeing selfregulating they were determined whether or not their plane was safe and in order to save money on redesigning the actual wings. In the frame you know they they just said yeah its ok well well have a software fix so in this conversation that this woman had in trying to get this position at the f a o she met with a u. S. Official who goes by the name of ted mckinney he said donald trump appointee and he said we are concerned about european pushes to ban. And cut herbicide so thats round up which is now off patent so there are other makers of it besides monsanto which is now owned by you know a european bear bear but this is another headline from bloomberg about life. Round ups risks could go well beyond cancer evidence of the cheap herbicides danger to biological functions and the environment continues to mount why are u. S. Regulators not listening so at the World Health Organization they concluded that the life i say is likely carcinogenic but both the u. S. Environmental Protection Agency and the European FoodSafety Authority have declined to do the same but the e. P. A. And the f. S. A. Relied on information provided by researchers linked to the industry and considered studies provided by the industry that were not Peer Reviewed or made public so again you have this. You know you have this profit at any cost no matter what the socialized risk remember that the risks have been socialized to the general population the top one percent these corporations is multinationals and wall street never take any risk theyre given free money theyre given free intellectual Property Rights no matter what the cost is to the. Population so here theyre bloomberg is asking why arent the regulators doing anything you know we have of course the cigarette of history knew the cancerous the Energy Industry knew of the ecological damage they were doing and g. M. O. Seed industry knows the life of say risk and its ties to carson carcinogenic poisoning cancer etc and its an economy thats built on for the without the regulators doing their regulating without them without them in the pocket of the corporations and it was the regulators were not bought and paid for by the corporations and corporations are allowed to go without unfettered with any checks or balances at all which is mostly what we have now it you you end up with jim jones like death cult as your economy in america well also we no longer because it used to be that we concern ourselves only with Quarterly Results and now its day trading results like everything is about day trading and how much the markets went up that day and has to go up 12 percent every single day day after day after day right so that we dont like to look at the complex long term situation so like 10 years ago the markets were crashing so the fed just created all these unconventional which are now conventional a techniques of pouring money and giving free money putting all these bad debts onto their Balance Sheet and 10 years later we see we see breaks that we see trump what we see that consequences of that. Here is the same thing is glyphosate manufacturers they say which now include Many Companies around the world monsanto us patent expired in 2000 have long argued that glyphosate is completely safe for humans animals indeed all non plant life because it works by inhibiting a biochemical pathway that plants need to grow and animals dont share that pathway which is superficially reassuring but it only means that glyphosate shouldnt starve animals to death as it does plants chemicals however can exert effects on organisms and marriott ways because what the new studies are showing in this bloomberg article highlights some theres several of them but what is showing is that it is actually causing. Basically deformities in animals 2 or 3 generations later not necessarily the 1st generation or even those exposed the glass glyphosate but is causing birth defects in these animal life monetization of psychosis or psychotic and there are serial killers but theres a tough time for complexity anymore everything just simple you tune into cable news and its like. Oh there goes. You know and thats thats the extent of our our our understanding of Politics Around us the same with our economy as print more money here its like just throw garbage into the environment as long as your food is cheap or just drinking the koolaid all right well much more coming your way after the break dont drink all the koolaid loosen for the kids. Right. We had one man 3540 years old. In the water. Some 30 fisherman later and its not. Understood. That hes going to want to take another one of them a fee and help them out. I believe that this is one of the therapy is. Tama. Absurd its really harsh things that happen in life. So what is it calling the coin is magic internet money the new type of Digital Currency essential lies digital scarcity chancellor on the brink of 2nd bailout for a bank thats called the Genesis Block for reason a civil disobedience a source of optimism because i can control my own financial destiny its just a new way of coming to consensus its a game changer in the Human History this is columbus discovering a new world this Paradigm Shifting Technology that transforms economics and finance in a heartbeat the apollo 11 landing on to the moon with max and stacey. What do you do before you came here where did you work before you came here when you lived. Death row in many us States Capital punishment is still practiced convicted prisoners can spend years waiting for execution but most of the time the victims families they are very much in favor the Death Penalty there are some people because of what they did they have given up the right to live among us. Somebody even proven innocent after years on death row and how many more exonerations is it going to take before we as a society realize that this is not working and we actually do something about it. Welcome back to the kaiser report im ask either time out or return to our conversation with michael pumped up at the park dot com michael welcome back thanks for having me back next hour im michael pants i was talking about golf you know a stamp druckenmiller hes a billionaire investor ari thanks Interest Rates are going to go to 0 how come gold is not reacting more. That maybe theyre all you know hoarding is a bit coin you know id say you know i have a little bit of a step back and declare i was so convinced that it was going to go to 0 but i have to tell you if you need to get your money out a communist where hyperinflation economy there is room for bitcoin to exist on this planet so i dont think its going to 0 only is going to 100000. 00 per unit like totally or some other people might think or busy once at once of thought but perhaps not 000 why isnt gold going up any gold is outperformed the stock market since the year 2000 gold is starts on a sweeter all time record highs in my opinion if there is going back to 0 they dont think its a quantitative easing theres going to be a universal basic game come theres going to be an empty theres going to be helicoptered money because the economy if theres a recession next month there isnt enough in the nation to lower Interest Rates they only have 225 basis points before they hit the a set to lower bound and your own powell that drawn how even admitted there would have to be effective lower bound japanese are going to be at the same Interest Rate as the e. C. B. Same Interest Rate as the. Bank of japan was i mean no reason why people are going to want to own dollars over euros were against very short so gold is going to have a massive move in my opinion real Interest Rates will be for. And the dollar will lose its worlds reserve currency status is a process thats in motion you know the miners are in another thing up in 83. 00 janeiro depression which is where i think. Miners are stocks 1st and foremost so they dont do very well in managed vironment but go visit google does much better right well yes to your point clearly let me jump in there some gold has said new all time highs and australia and brazil close to hitting new highs and russia and canada so on various currencies around the world is either at or has made new all time highs and you know it has opera from the market for many errors but lets just talk about gold and big point for a 2nd because it is becoming a bigger factor in the marketplace and you do you know pick oil in the past years now because it has done so well youve traded some mobiles as a very wealthy players in the space like Barry Silbert over there greyscale investments who spent a lot of money on an ad campaign called drop gold and its not an impact on the market the Gold Community has reacted they theyre all in a in a tizzy about this and you know why do you think that what why cant gold you know strictly from a marketing point of view why cant gold market itself better you know why is it have to constantly be on the defensive hair if its so great why why do they say it like panic their product thing. Because the grain revealer and the banks were told just do well no is either it depression or labor inflation which is really big it really made environment where banks and for governments so little of this interest in suppressing its value goes the same you know quite the same for coin yet its just a its much much smaller market its gold so everybody has their attentions read it many. Ready point is that you know jamie diamond is never going to be a huge fan of go. Governments are never going to be a huge fan of go because gold does well but just the truth is real and honest money and when really does better than just being contrary which is what central bankers do then a dish both of them for what they truly are. Indeed you dont like it thats why you need spokespeople but really i think people understand this really if they want to prove in store of value then as true it is else theres thousands of years they need to physical gold because it turns serves their purchasing power these are the their currency that theyre living in these of the nation they are living in so like you said gold is sitting record highs all over the world and it will soon i predict said record highs even against the floor of the our currency known as the us ok fair enough now our Christine Legarde over there at the i. M. F. She recently suggested that the i. M. F. May look at issuing a crypt out special drawing right or s. T. R. So your thoughts on the s. T. Are our friend jim rickards as always argue that the s t r will be deployed rather than gold in the next crisis in other words he posits that there would be a 100. 00 trillion dollar Debt Facility or Lending Facility based and special drawing rights and roll up all the Central Banks bad debts into one big massive roll up into an s. T. R. Back debt arrangement sunny why Christine Lagarde is talking about a an s. T. R. Crypt out what when you hear that what do you think michael so 1st of all theres a giant shoni i mean is 3 card monte i mean the i here is the r. s were learning theyre composed of its a basket of slowly see our currency so if i dont have any more feet if the dollar is the worlds reserve currency and i really think the euro is is going away extinct and i think the yen is the worst form of counterfeit insanity then why in the world if i put them all together in a basket with a. Anymore value because the i. M. F. And kristie lu gordon says that they do is that. Inherent dirties if youre bad youre going to have a crippling currency world war i didnt wobble in nature wanted to have it backed by ghouls lose mine supply is limited by gum and nature and not. Digital optimists is what i like to call them you know theres thousands of cryptic currencies around the world all reforming the same function ok if she says your lies. Are time his leisure anonymous and its not his ledger characters theyre about theyre out history there have been thousands there have been thousands of physical assets that have been regarded as a star value whether its shelves busy or fine art or copper or of silver or busy busy gold has emerged as the preeminent one over a 1000 years similarly there are various Digital Currencies and Digital Assets bitcoin is emerging like gold to be the preeminent one in its class and as a guest on a 1000. 00 as i said before most of these other ones will go the way they carry shell because they havent been proven but you know the thing about the s. T. R. And fia currencies is that they have one thing on their side and that is coercion you know the government at the point of a gun as paul krugman of the New York Times a said is the is what backs the dollar its violence now as far as gold goes yeah ok its a store of value its hella tesa time but millennial isnt general generation this is a you know they they dont they dont think of gold they think a big coin they see it as equivalent a big point i mean guys like you will say its not but again the question is why why cant you market it better why cant you put this case forward that it is something that should be smoked out instead of decline really are a huge body of of information to suggest that the 2 are equivalent in many ways. Wider war he told i want i want i dont want to stay down here do you work orders because i can buy more of it at a great price i dont want to work i mean gold work itself is absolutely beautiful is extremely rare it is virtually indestructible dont you think i say if you can find new elements that are being created on a daily basis that to fill those same requirements then i would tell you the price of gold would be plummeting so when you look at a big cool plane or any of these ready complex currencies where they are what you actually hold them is a private key which just is comprised of 64 electronic numbers and letters you know it just doesnt excite me it might excite my son someday and hes only 15 years all right now he doesnt care about but i mean the letting his or to when it was a concern are you never put your trust in Something Like gold changeable physical then does it need more getting were Something Like big point which is really just electronic alchemy i mean youre not youre never going to convince me i said yeah i know i know theyre going to inventions they have to understand you have got 2 generations now that are native to the answer net and theyre completely comfortable days at all. Assets and Virtual Reality and the Digital World i mean thats the world that people are migrating into i mean the fact that theyre not comfortable with it and not you know i have similarly you know had a cat to work my way through it is because when i was born in mid previous century right im old. Baby i just dont get it you know you know i think id be honestly my son does like to watch and participate in electronic sporting events so you know you just were thumbs that your fingers on the keyboard and you know and this is jimmy insane why anybody would go to watch somebody else play on the computers or maybe im just that such maybe being 35. Years old almost 6 im just an old man at a time for a lot of fit what if you know your son will soon be buying an interest in a share interest in those digital teams and betting on those interesting tale all the way to do that as a Crypto Assets so you know youre making a case crypto is an address well its very clumsy and expensive to move around well id say one thing i mean is that it should i mean i or whatever maybe its this or you miss fomented by governments because why is it the one competing with each other you know big green and gold wont exist i mean if you want to you know use the. Media scenario if you want to write what were guard you might want to put some go get over were im here yes your laptop were going to order and say you know in these little time there is a you know theres a try to get you know its an hour drive somewhere youre going to be really good for you something i mean you know they both do exist together if you want to get your money out of china which is its youre in a pot of debt dung the government and the people in china the government of china as your insurance hearing throughout the day which is about to collapse and all it can do is to to. Rip it up so and see if youre more debt like in today showing there its the be a little government so they can go build Infrastructure Projects more older digging projects so you want to get your money and you will be cooling is a pretty good way to do that under the radar return of the government doesnt mean a goal doesnt have. You got a car off there great point all out be on back thanks man the cars are poor michael thank you max thats going to do it for this episode of the kaiser part with me max kaiser and stacey armor like to thank our guest michael. Port out com if you like to get in touch with us on twitter its kaiser report until next time by a. What politicians do. They put themselves on the line they get accepted or rejected. So when you want to be president. Or somehow want to. Have to go on to be prochoice which is what before 3 in the morning cant be good. Im interested always in the waters in the house. Or should. I why a paradise with some around turned into a round the experimentation field but agricultural chemicals we know that these chemicals have consequences they are major irritants theres no question otherwise why would that the Chemical Company workers themselves be geared up and suited up locals attempt to combat the on regulated experiments but often in day you have many of these people one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of Environmental Research going on in hawaii whether these Companies Feel they can get away with lives because the people have less political power. So what weve got to do is identify the threats that we have its crazy people in foundation let it be an arms race and it is on all sides very Dramatic Development only personally im going to resist i dont see how that strategy will be successful very critical time time to sit down and talk. Growing tensions with. The new social media. And the. Public people in the public. Good morning live