I know their guys are this is a kaiser report. Why you bargain. Well here are the bullet points for those of you at home keeping score. Cities are on fire. 40000000 unemployed in america g. D. P. Of the climb by 50 percent in the 2nd quarter. The velocity of money is dead. Small businesses are dead. And j. P. L. Said chairman says this is fine this is fine this is fun thats fine. Thank you both again. Well this is fine you know the only solution they seem to have over and over is more money printing and the fed is at that again nonstop since 2008 really as paul says fed policies will absolutely not lead to more income inequality this is what he claimed last week while cities across america were on fire and notice that he said income inequality you know money printing does it causes asset prices to increase and tech Capital Gains to increase he didnt mention that he didnt mention the wealth gap so i did want to turn to a chart from pew and it shows the share of us aggregate wealth since 1983 to 2016 this is what the fed has been doing this is the upper income went from having 60 percent of all wealth in america back in 1903 to 179 percent and its probably much higher even now middle income has been the huge collapse as you see down from 32 percent to 17 percent so theyre nearly cut in half well this is the latest chapter in the global insert action against banker occupation you know we saw it with occupy wall street there was a concerted effort to talk about wall street and the Federal Reserve bank are creating wealth and income disparities and distorting the economy and bankrupting the nation that we had an uprising in cairo we have an uprising in athens that we covered in the 5 uprisings all over the world as part of the global insurrection against banker occupation and now its in the United States and the u. S. Dollar i guess is. Going to have to be sacrificed if theres going to bandy hope here the thing is they are printing for everybody for the entire world and there are only at the moment fiats currencies so if you disregard gold and you disregard big queen the like most people in the world dont notice that of course the dollar is the strongest of them all of all the fiasco urgencies because everybody it is the reserve currency so heres jay powell. You know printing money for everything heres his story right here fed bought 3000000000. 00 in e. T. F. And may junk Bond Holdings here include hertz j. C. Penney Neiman Marcus and Whiting Petroleum because of course they do l o l nothing matters. So you know they basically bought the bags off huge private equity and hedge funds that otherwise would have perhaps closed the gap in the wealth gap between those wealthiest of americans and the poorest but theyre both the bags off the likes of you know carl icahn and Warren Buffett these sort of people the billionaires right i mean the standout on that list would be hertz so hertz was heading into bankruptcy for a year now and just before they did declare bankruptcy the Central Bank Buys a bunch of hertz stock and you know to give some back up to carl icahn the private investor a private equity guys this reminds me of the e. C. B. Funding for the louis of a tall entrepreneur made a huge purchase recently and that was all funded by the European Central bank a private company so the private banks theyre buying junk corporations and theyre actually buying an e. T. F. With the Ticker Symbol j and k. Which stands for junk. That means that weve kind of crossed over to it and to know you know theres no turning back now because the said Balance Sheet of approximately 7 trillion dollars and its adding maybe a trillion dollars every 7 to 10 days the resale value of everything on the books there is 0 i mean you can obviously resell hurt stock because it just went bankrupt a few days ago so thats clearly worth 0 everything on the junk e. T. F. 0 black rock that sells the e. T. F. Is charged with buying an e. T. F. For the fed so the fed and the government is tall black rock by e. T. F. Those things that you sell for us with the government with the printed money that were printing ok thats obviously corruption at the highest level and its horrible economics. That bonk they might convert to equity which apparently the feds not supposed to own so you know the but they did not buy the actual shares and hurts but they have these junk bonds which theres confusion out there whether or not it converts the equity and now they own equity which they say are not supposed but the people are always so smart right lets look at that with the people on the other and of all of this free money printing you know what they really think. Of all this money printing people are mistaking stimulus payments for junk or scam now no theyre not mistaken yet it is junk it is scam it is junk this is this is a scam. Let that be a lesson to you money printing eventually comes to an end and the only thing that you hear is the jammed money printer and then youre wondering wheres my food wheres my government where where am i and you know im sorry but i have to ask what was that last point you made that the people of the United States of america are receiving these debit card oh yeah right so i got it i got it i got it i was so taken by by this flotilla of cast. Yeah the people the government is standing United States citizens debit cards with loaded with cash and they just assume a chunk of the throwing of the garbage and what is john you know is this should be sort of the garbage just no difference between a plastic e. T. F. Card or you know an a. T. M. Card loaded loaded with money from the government and those trash bags full of venezuelan bowl of ours you see on you tube now people are just carting away trash bags full of venezuela a bowl of ours all free up money for 300 years has gone has lost 90 percent or more of its value its gault garbage. Those are all they are going to get and that are. Really. This is all fine so lets look at the headlines about this alleged no wealth and income gap being created by a cantillon sort of effect that is happening in the United States this nonstop since 2000 really when we off shored all of our Creative Capital all our Industrial Capital to china since we allowed Derivatives Trading to happen in the explosion on that and we ended glass steagall lets look at some of the data here that shows otherwise to what jay powell asserted this is what happens when predominately workers with low salaries lose their jobs average salaries go up so heres a year on your change of the average Hourly Earnings of employers so going back years and years and years hourly wages have just soared why well because this is hourly wages so this is not the transfers from the government yet in this data what this show is is that all the low income workers got laid off now you have just all of the white collar workers all the people in new york city in San Francisco in los angeles from places like that still have their job theyre able to work remotely from home. Oh yeah this is remarkable that the hourly wages suddenly skyrocketed because of the money giveaways from the feds and it shows that up until that moment the average worker hourly wages were below subsistence right people are working below subsistence wage levels they have to theyre living in their car and theyre working under minimum wage and they work 2 or 3 jobs and so a task injection from the government suddenly spikes that hourly wage it proves that theyre living in america on a subsistence wage which is just one notch above slave wages right the slave wages then theyre subsistence wages and thats where americas 200000000 americans are subsistence wages and were going to get to that data right now because incomes for all americans beyond the hour of those who are still working and now and getting paid by their jobs their incomes have gone up as i showed in the last chart theyve gone up by about 5 percent because they got rid of they fired all the other workers but all those people who fired are now represented in this chart these are the people that are at home theyre not working theyre collecting Unemployment Benefits but are now called enhanced Unemployment Benefits so theyre making 600. 00 extra dollars a week that shows up and this data us incomes for all americans rose by 10. 5 percent in april on the heels of enhanced Unemployment Benefits the expectation was for a 5. 9 percent decline so how do we ever get out of this situation where jay powell is printing his money hes giving it away the government is borrowing money and 3 trillion this quarter alone thats caused wages to go up this is end of empire kind of stuff this is bread and circuses and its really really hard to end bread and circuses once you start right while the primary component and money in the u. S. Dollar is cotton. So america is going to get back to cotton pickin right. Thats it cotton picking is going to be number one employee to save that money printer in washington money printer go burger theres jay powell hes in the big house looking out over the Cotton Pickers pick me some more cotton so i can print some morphia americans like ok well do. Well the fed it is if you are looking for a job and your unemployment your enhanced Unemployment Benefits are not good enough for you here the fed is still hiring apparently so these are the sectors in the economy in the United States still hiring only a few of the hundreds of track categories added jobs last month so this is for april warehouse clubs and Super Centers so if youre working at amazon or walmart there are plenty of Jobs AvailableCentral Banks number 2 adding jobs so it takes a lot of effort to have parent lee print that i guess i could be employed i could start working part time. Or more top more talk about their bottom go. Do it and finally americans are doing something surprising with their money right now Gretchen Howard c. E. O. Of robin to describe the spike in deposits of 1200. 24 reflecting the amount in stimulus many individuals and couples received during the week of april 13th so people are again bread and circuses they love joining the speculative bubble and they also along with fed the fed buying all these junk bonds they were buying warren buffets bags they were buying stand late druckenmiller as bags they were buying car icons bags he dont hertz guess who was buying it was robin hood aps people with the free free money from the fed the fed knew youre going to give it to carl icahn and Warren Buffett and miller to exit right well turns out the fed is the dumb money. Its our money who are so dumb all right well take a break they will make a much more coming your way. Its seemed wrong. But ill. Just. Let you get to see. Just the answer. And it gets tricky because the trail. Went something to find themselves well its a part we just of the common ground. 54 jets and more than 1300 military personnel are headed to heal some air force base in alaska where is that to say come on ill show you whats the reason for any type of enhanced u. S. Military presence in this area russia. What is it suddenly about the South China Sea that makes it so that it 11000000000 barrels of oil. Take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have Nuclear Weapons capabilities there is reason for concern so thats why were going to drill down on this story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly its time to do news again. Welcome back to the kaiser report im nice keyser time now to go to tyler lindo he is the representative for wyoming House District 01 for those outside of america wyoming is not only the most bitcoins friendly state in america its also the 10th largest state in the union and the least populated its born for social distancing our right tire welcome to the kaiser report yeah thanks for having me really appreciate the opportunity not many people here wyoming and think not only Yellowstone National park ranch saying farming with a cover 19 pandemic we saw livestock destroyed while supermarket shelves were empty what caused this and what legislation did wyoming introduce to address this tiler i think the 1st thing that we should make very clear though is the coronavirus did not cause the collapse itself of the meat supply chain meat supply chain was always pretty horrible it was a centralized mass. Kind of propping up or big monopolies and thats where everybody gets their meat whether its from the back of a beef track or from a Grocery Store or whatever its all going through these or out and so the coronavirus was essentially just the straw that broke the camels back wyoming didnt we inadvertently it was just really good timing on our part so ive been working on this issue or oh right around 6 years and what i did is i drafted a piece of legislation that took advantage of the federal means section of the federal means section access that all meat sold in the United States retail has to go through a u. S. D. A. Packing facility and so in the state of wyoming ways we what we did is we rationalized cattle we said that you can you can sell shares on a on an animal or you can sell shares on an entire herd of animals and that way that share grants you access. Those animals without going through all of the red tape and regulations and ins action processes all of those that add quite a bit of cost and also what more money on the actors are so i am ing is really taking out some great initiatives and put some great legislation in place and particularly in the big clean space you have been a huge proponent of because i have helped pave the way for wyoming to become the krypto friendly state in america why. Well its all about that centralized nation i mean nobody likes centralized ation right centralized government centralized money centralized made supply chain and so i became a big fan of big quiet black and technology back and you know i cursed learned about it back in 2000 welcome ron paul or arms and i really studied down on it and so when we when i got going in the legislature i realized there were some issues in the state of wyoming as far as our laws were constructed we were actually one of the worst in the nation for bitcoin our money trends that are transmitters license was blocking any exchange for betting on wyoming customers were able to fix that and then we just picked it up a gear and now weve asked around 20 disallowed just placed on the handle everything from security laws to banking law to a lot of those different aspects that have stood in the way for a century this currency going industrialise and being able to really be utilized by individuals even even not yet not not so much mainstream individuals but more of you are you know average folks that may not necessarily even know what bitcoin is this is an opportunity for them because its much more mainstream now in the state of wyoming right iow making you know that a message of individual sovereignty seems to fit in with the 8000 of wyoming and that wyoming state motto is equal rights now it was the 1st state to give women the right to vote out of the cessna t. Wyoming needed the votes to gain statehood and you know this is part of the interesting dynamic in the United States between the states and the cetera. Government so these 2 are competing with each other on some level and could the same thing happen for bitcoin in other words you look at the american states and you said you know theres a state out there called delaware and it gets a lot of business by being the number one state that companies incorporate and why dont we do that be the delaware for big oil why cant wyoming be the destination for bitcoin and now this is exactly what youve done my question is could the same thing happen for bitcoin where other states see your success in this hyper and deflationary necessity as the federal government paper money collapses the states and by the way in the constitution i believe it says this only the states can create money the states take it upon themselves to preserve America Tyler what do you think yeah absolutely thats not going to home run and thats exactly what were chasing down its all about Economic Development its our its all about making sure theres a safe spot a land for these companies and also an area that they can flourish and so as states realize that their currency is being devalued in the purchasing power is going in the toilet i think theres going to be a lot of a lot of state governments and a lot of it maybe even smaller governments that start turning towards different types of assets to protect their well and just like individuals have done and so wyoming is definitely leading the way and theyre in that cause but its important to remember that we are nowhere close to even being. Were still all steam ahead were looking at some really interesting stuff right now in regards to the banking secrecy that are now your customer and i Money Laundering laws and so i think were going to have some for next year that really shit. On that note the wyoming legislature has just formed a select committee on block chain and Financial Technology are you a member or what are the plans for wyoming in terms of fin tac and bitcoin yeah i definite. I am a member as you know we have the task force before and we were a little different then like other states have asked or says we were different in regards we actually do thing and actually accomplish things so we were very successful we moved on to being a like a committee so we could sponsor on legislation and we could do even more added on it and it i myself im a member were chaired the chairman a back to many our chairman shared olson out of cheyenne wyoming and chairman chris rock us out of one army wyoming both great individuals and of course weve got a long on that on that cable along certainly has been. Firestarter and this area of getting decline to the masses the using the and existing infrastructure because he has that incredible background on wall street and the Banking Sector and hes a very high level executive and she kind of defected over to the pick when space and i know wyoming is the right to become the destination for bitcoin based startups are you seeing that already are becoming base startups moving to wyoming when we 1st started this whole journey and started a little task force we had people showing up to our meetings without shoes on and just kind of some wild ass now that the folks that we got showing up are very much student die and kind of oh jeez on the space weve got car i always k. Is now a now wyoming business we take a lot of testimony like consensus and crack and those types of folks and so yeah theyre common theyre here already i always cage just drop half a 1000000. 00 on the university of wyoming to help with their walking labs so its its happening and if youre not in wyoming yet youre going to miss the boat sticking with the long gone head start of the bank can you give us the details on that whats the status where is that hows that going to be honest with the i kind of once once a legislate. And in place i kind of take a step back and let them work out their business and how things are going to move forward last night i thought today when most she said things were moving well and that they were they were getting close you know theres probably theres probably a total of 8 and it is right now theyre looking at starting up their their own banks and the state of wyoming in regards in regards to its real assets and all of those guys are moving almost in my hand ive got you know i i think i think a couple are probably going to distort the but its fun to watch because we didnt spend as a state any money on attracting these businesses we took a very unconventional route out others its Economic Diversification we just set Legal Precedents we were smart we sat down and we studied the laws and we figured out how we can actually move the laws in such a manner that still provides Consumer Protection but at the same time is inviting to business and so far so good its been successful now i want to return to kind of the. State versus federal government tension or the existence of this because its a checks and balances built into the american system of governance to have a many many checks and balances the various the. You know houses of government and also between the state governors of states and the president United States and so when youre talking big going to people in wyoming right theyre not from Silicon Valley theyre not financiers wyoming as we said at the top a show is mostly about agriculture and ranching and you know correct me if im wrong here i might be stereotyping whats going on there but thats my perception but isnt isnt the urgency in the pitch isnt about self sovereign say and it isnt about hard money and the fact that the federal government you know needs to be captain and check tyler thats right its all about the 10th amendment its all about state sovereignty its all about. You know keeping our see our citizens in our state in a safe place regardless of what congress does because lets be very real about this congress is incompetent what theyre what theyre currently doing right now it is a hot hot mass it any kind of reaction that theyre doing it whether its in regards to krone virus or the meat packing the elk all of its a hot mess they can fix the meat acting with legislation that just the regulates and let states that set their own course and it costs nothing for them to do that but instead theyre going to do this whole pump and dump scheme into ranchers across the west turn every rancher on it and the west and go see it and to see our armors and its just an absolute wreck so were talking about state versus federal. We really stretched our legs in regards to cryptocurrency but we also stretch our legs in regards to gold and silver also and this is why i made gold and silver is considered legal tender are the cosponsor of the legislation and and so you constantly see why im a doing the thing and its because we want to separate ourselves from some of the horrible mistakes that are being made by the federal government we dont really want to be associated with one event wait wait wait one minute their gold is legal tender in wyoming holy mackerel i was on the fence now im headed to wyoming how hard is it to master riding a horse. You know i did it to be honest with you its one of those things that when were when were talking about the self sovereignty type type of concepts the state of wyoming we do those things for breakfast right i mean its its normal day of course for us but in other states are such wild concepts and its its going to i dont know if its wild for me to hear about the regulatory scheme but other states but implies somehow control there or there are set a sense and the state of wyoming we just want to leave it all alone so if youre not here like i said max if youre not here going to mess. Oh did i notice how you very graciously avoided the question of how long it would take me to learn how to ride a horse i guess because it doesnt seem like its even possible thanks so much tyler im filled with confidence now all right no only joking thanks for being on the show it sounds fascinating well check in with you again send thanks for being on kaiser report if you alright well thats going to do it for this edition of the kaiser report with me max kaiser and Stacy Herbert want to thank our guests tyler limp home hes over in the wyoming house of representatives join again touch with us on twitter its guys report and so next time is by you all. You can be both with the yeah you like. The one else seems wrong. But. Just dont call. Me. Yet to see how it just did become active. And engaged in a close to trail. When so many find themselves worlds apart we choose to look for common ground. We go to work. Straight home. Roy its against Police Brutality in the United States stretch into a 7th consecutive night President Trump says that if the situation worsens hell do whatever it takes to end the protests. Give a city or state refuses to take the actions that are necessary to defend the life and property of their residents then i will deploy the United States military and quickly solve the problem for them while trump talks tough and hope other countries call him out for double standards when it comes to white house criticism of how violent protests 100 liberal