Principles of the and white men happened in france and in scotland but i thought this image of lady liberty of the statue of liberty in this headline that i want to turn to from the daily mail trumps has new york has been lost to thaw and low life scum after looters ransacked 5th avenue and curfew is brought forward from 11 pm to 8 pm until end of week but cuomo into glasgow still refused to call in the National Guard and as you can see there some looters on the front page and weve talked about the looters at the top from the very beginning the trillions and trillions of dollars being printed in the cant tell you in effect but heres lady liberty right there on the ground trinket probably made in china sold in times square and just as quite a fitting image for the rest of the stories we have to cover max oh absolutely the poem resonates with a double entendre with deep meaning or with echoes of the past and people coming to america coming to new york coming to ellis island with dreams to breathe through it only to be stomped on and have their life choked out of them. Did. Happening here in america of course yearning to breathe free is very important that this isnt a part of the problem right now and america is obviously we have the racism and the state power exercised through the police force which is and literally has the knee on the you know your boot on the neck of the populace obviously black americans are at the bottom of this but you know it is layers of this absence of being able to breathe 3 we see this or that injustice built into the system where theres a certain select group of people who do have privilege of course we are supposed to be you know a nation founded by these truths that are self evident that all men are created equal that may be true but if some are given privilege that negates all they quality that we have at birth Michael Hudson feds 10 trillion dollars defense assets of the rich so the fed has revived the stock market downturn hes referring to the stock market booming it comes up and what it said is folks you can bail out the stock market give us your junk bonds thats sort of like the statue of liberty for wealthy people give us your stocks sell us your bonds will buy them all up in Federal Reserve expense and will purchase them and well also do our own forward buying to manipulate the stock market by promising to buy our stock so the higher price in the forward market so thats going to create a speculative demand for stocks so the speculative demand for stocks by Federal Reserve manipulation and the actual flow of funding money into the stock market from the government has been pushing it back up giving the illusion of prosperity at least for the 10 percent thats right the statue of libertys on the floor of the New York Stock Exchange im a buyer a wire mobile i will play a little point of all right Michael Hudson has pointed out the Federal Reserve bank is buying everything i would equate the stock market say with exit scam right so the temper sat on stocks in america are edge of in america and theyre taking all the valuable assets with them and its a fun. That purchase the fed is giving them trillions of dollars of free money best the way we see it thats the way its working and that explains the disconnect between valuations on most of the stocks in the s. And p. 500 and the fact that unemployment is skyrocketing theres riots on the street and all kinds of other things are cutting away at the viability of the United States economy doesnt matter because theyve got the green light to see the richer seceding its its its its not right and yet thats whats happening well actually i want to say that this has happened throughout history and i think for me the United States most mimics but it mimics often like a lot of different empires that have fallen before it i think thats been 12 so far and this is part of that the citys trap of a great power not wanting another to rise compared to rome rome had the same situation the people and heritage in amazing republic and flourishing powerful nation that had our 2nd amazing architecture and building and thought and stuff like that and then it turned into a tawdry empire where the elite like just plundered the nation so the next bit from michael had since quote is a k. Now we have a trickle down to the population where there ransacking you know the shops on 5th avenue but where did the ransacking start right and lets go back one step for the past 12 years this is something reporters talked about there is only one reason for a stock or a bond price to go up Michael Hudson said and thats because of the flow of funds into the stock market what had been supporting the stock market for the last 12 years was very largely stock buybacks by Companies Using their revenue to sort of clues down their business disk invest and buy their own stocks to at least keep the prices up well whats flowing into the markets right now this is something youve talked about a lot at this stuff buybacks is hollowing out that its plundering the Balance Sheet of these companies of these pup. Police listed their public stocks the wealth of the nation as being plundered the last dregs of it some exits down credit so theyre getting showings of from the Central Bank Im not reinvesting it in the cap ex theyre not reinvesting it in wiring people theyre not building plants theyre buying back their own stock boost up the value their Stock Options and they are systematically going to just bolt that well hear from them anymore because theyre leaving a carcass what we see on the streets of new york city is pretty much going to be the new normal the streets of new york ok lets continue with this sort of analogy looking at the symbolism of lady liberty and you know that lady liberty has that tort of course that torch used to be able to climb up to it but you havent been able to go into that torch since july 1918 because of the black tom explosion black Thomas Little Artificial Island just off of ellis island where the statue of liberty is and it was blown up by the germans in 1916 during world war one and because there was a munitions there and in fact one of the the boats ready to ship off with missions to the allies and in europe was filled with munitions for russia that the United States of shipping but the explosion was so huge it was the equivalent of a 5. 0 Richter Scale earthquake in new york and was felt as far as way as philadelphia but remember that whole world war one that was the end of the last them prior that was the end of the British Empire they were fighting off the german rising power and the world was chaos for decades during that whole period but where did this looting start how did the looting start from the very very top because weve gone from the people looting the shops to the merchants essentially looting there they looted the wealth of the nation through stock buybacks but how did it all begin. And you know with this transfer of power and wealth between nations that weve always seen in the past of the previous 12 passing of the torch between empires and great powers the United States uniquely gave their power away themselves because of their own nobility because of the privileged class and theres a fantastic articles very long but im going to pick out some of the segments and you should go read it yourself look this up its on unheard dot com you and h e r d cove it has exposed america as a failed state its hard to view the us at this point as anything other than a cautionary tale you know they go over the fact that the u. S. Has blown 5 trillion dollars on pointless wars in the middle east and mostly driven by you know the liberal intelligentsia like clintons like blair is like Rachel Maddow like those sort of people who are saying like were going to spread our democracy and instead is blown the wealth of the nation and the ability of a nation but now it wants the world to join in the fight against china you know you see where were now and almost hostile war with china were banning even flights passenger flights from china not because of covert 1000 because we dont want Chinese People here but they point out that the truth is that globalization the central political dream of clinton and blair obama and cameron was never real it was a process by which advanced western economies unilaterally surrendered their manufacturing capacity to a rival growing power china which instead of receptor creating according to the panglossian calculations of the neo liberal theorist practice a traditional and ruthless mercantile ism and pursuit of its own interests that are mixed globalism with mercantile as a. End up with markopolos im right so america as you point out they have this ideal the 3rd way the globalization the neo liberalism the washington consensus that other countries would be happy to send as an equal amount of goods and services. Is that were sending them because they like us because they enjoy tom cruise movies because hollywood but these countries said you know what i think youre going to give us all of your manufacturing well keep that and well take Everything Else too so now here we are 2030 years later and folks are beginning to realize that to restart of any fracturing economy here in america is going to require more money than was required during world war 2 but wait for it the country is already 25 trillion in debt oh oh oh oh oh oh but when you look at the news when you look at what is being presented as the resistance as the response to this ongoing term while but the collapse of the american system you know the mass opioid overdoses the mass death the mass anguish theres obviously death the despair theres something going on that nobody wants to look at certainly in the elite but the looting that is nonstop in this economy was intentional as they point from this a quote from michael lind in the tablet he said politicians pushing globalization like clinton may have told the public that the purpose of nafta and of chinas admission to the World Trade Organization was to open the closed markets of mexico and china to American Products made on american soil everything from corn to chemicals to computers but you asked multinationals and their lobbyist 20 years ago knew that this was not true their goal from the beginning was to transfer the production of many products from american soil to mexican soil or chinese soil or to take advantage of foreign low wage non union labor and in some cases Foreign Government subsidies and other favors some people have gone this protest across america right now bolshevik rest revolution. To kind of make a reference to the workers uprising that we saw in the old the imperial russia and youve got a new imperium here in america of elites are canceling errors and the work or something realize that wait a minute we dont want to live under a dictatorship we dont want to live under a monarchy lets have a good Old Fashioned bolshevik revolution which is what seemingly happening from coast to coast you know the population saying just vote didnt buy you didnt buy even was part of this 20 years ago he was in power he helped china ascend to the they knew they are intention was to undermine the American Population by aggregating wealth for themselves by sending these jobs overseas so you know that is not the answer the looting has to stop and looting at the top has to stop 1st. If you vote for by you way smarter they are going to take a break and when we come back much more coming your way. To what weve got to do is identify the threats that we have its crazy for him to let it be an arms race in his own spearing Dramatic Development the only move really im going to resist i dont see how that strategy will be successful very critical time to sit down and talk. And virtually every great founded on the right in the murder. Nothing changed so we said no response so these situations that we deal with. People get there we go. The day she is this sad people kill each other blood for killing children. So it was just no way that people are going to just sit back and allow children to be shot down law enforcement. This country doesnt work for us it doesnt function for us. This is cant be happening in america we call from the streets we got to deal with why this is a reason i have to ride like this is the reason. Malcolm x. Has some many protesters on the streets of america speaking about the media he once said that if youre not careful it could have you anything to people being oppressed and loving the people doing the oppressing but what does that distinction mean in todays us city. Welcome back to the kaiser report imax keyser time now to turn to caitlin long of of antti bank located in the booth and to state a wyoming kaitlin welcome back days max its great to be back technically were not back and yet were technically entrepreneurship we are applying for many places not a. Big heavy lift as im learning exactly so lets talk a little bit about it youre applying for a license for a bank in wyoming tell us about what youre trying to do over there is it a big point Friendly Bank what is needed the bank what problems doesnt tell us more well yeah its interesting to have someone from this community or me a bank but im doing it in part because this is something we need we need a Regulatory Compliance bridge to go back and forth between the Digital Asset industry and the traditional Banking Industry and there are a handful of banks in the United States that Service Industry theyre pretty well known and some are gate signature much foss and in fact actually just last week j. P. Morgan it came out is its now sir big enough to 2 of them i think its going bass and. Jam and i got through the j. P. Morgan trust us so you may be wondering why on earth do we need more well for one thing the f. T. C. In the u. S. Does not allow banks to broadcast the services for Digital Assets and so what that means is that all the banks that are providing cimon services that small number of banks that are providing peanuts services cant also custody Digital Assets and you may be wondering why does that matter at the end of the day it matters a lot because you want to be able to set to settle the payment and Digital Assets legs of trades subtlety. This is one of the big reasons why didnt quite have taken off it really kind of in some way speech of the killer app of this technology ironically race. And were starting to see now this it occurring daily volume is on sunday some days its pretty close to the big client. Trade and thats because east least able quines actually chance that a home simultaneously against crime and other Digital Assets and u. S. Dollars cannot and while youre forced to segregate the banking relationships into a different legal entity and where it is all assets are held it means that you actually have to settle go through those legs sequentially because you dont look too different entities suddenly to traits so its counterparty risk theres a lot less trading bossidy lot less liquidity coming into the equation not additional assets as a result of this problem and thats what were trying to fix well theres actually 2 parts to the story and one part is oh yeah theres a need for a big coin Friendly Bank and youve just kind of articulated the case for that very well the other side of the story is that wyoming itself the state of wyoming looked out across the america and saw a little state called delaware and how much they were successful in becoming the go to place in america to incorporate for just about every company in america is incorporated either in delaware or nevada and wyoming could become the go to destination for this new way of this new technology thats new you know a lot of people compare big quine to the where the internet was in the mid 1990 s. Right before it became a multitrillion dollar industry if wyoming got a piece of that business wyoming would do phenomenally well how and so and you say youre in the process of getting this bank through. Oh did the legislature and the politicians in wyoming understand that this is probably a once in a century opportunity for them yes they do they absolutely do and you know thats thats thats why weve done what weve done weve now had 3 legislative sessions in wyoming and there now been 20 different laws enacted all of which are enabling the only one thats prescriptive is the bank charter and what i mean by that enabling legislation is is what even i think most libertarians the hard core or you know an artist types probably say we dont need legislation at all natural law can can control but most i think most folks would would agree that its me have enabling positive legislation that says we have a right to do this thats ok as opposed to the restrictive legislation that says you cant do this and heres why we do obviously have that in the bank charter because in order to be able to plug into their Payment System you have to comply with the standard set but its not a reset or every bank has to do that thats just a given it is what it is but ill be happy legislation when it passes is enabling and it is deciding to track this industry here and why folks are coming ironically i think given everything thats happening in the world more folks are considering actually moving here as opposed to what most folks do with delaware which is use its was but dont actually live or do business there i think were actually starting to see both want to move to i dont its interesting theres a tremendous the population in the cities now people looking for a wider space and certainly i think you got a lot of empty space for sure now you mentioned j. P. Morgan there for a 2nd i want to focus on that so Everybody Knows whos been following big corner j. P. Morgan the last 10 years they started off as bitter no coiner. So as we say theyre very much against this idea because and then gradually over 10 years jamie diamond finally you know it took him awhile to understand the learning curve you know its not easy to understand because it took jamie dimon maybe a little longer than a lot of other people but he finally i think gets it now so now he is trying to make some money in this business but isnt that i mean so your efforts in wyoming seem to a forced the mainstream banks in new york to kind of figure out that hey we dont want to lose this business now youve got an 800. 00 pound gorilla in the room and jamie dimon potentially stealing some business right so isnt the urgency doesnt this make the urgency of what youre doing in wyoming that much more urgent kaitlin yes it does and ill Say Something with your step heres a little secret everyone looks down at the new yorkers especially look down on why when they read it you know what can what can weigh only one can that small rural agricultural state do it challenge new york well guess what weve got so much faster than new york we have legal clarity on Digital Asset transactions theyre legally enforceable in the state of wyoming in fact s. As we talked about and i was asked on your show what he has given the same person who bought treatment for digital for Virtual Currencies a very big point as money under commercial law does that mean it doesnt mean the big question is legal tender we didnt try to do you gotta realize the Us Constitution we could feel bad call this legal tender in miami. Because gold mentioned in article article one section 10 of the constitution that we get it but needless to say we did it when we basically said if you cant be legal tender then its the same kind of whats called super negotiate melody that means that if you actually get a big plane you take it free of any adverse trade so somebody else has a plane to that point if a lender put in the map when for example you didnt know. About you took a free and clear of that me and right now you may be wondering well what it means im big why would i why would i care well out there are people now finally starting to put liens on between because equator being i doubt and thats what wonders do they lead normal lives. But historys mayor lacks a point out were not necessarily some big attack vectors of today were looking skating to where the puck is going to be thinking about ready to actors are going to come from and one of them could be that big crane is a 1000000. 00 yes what now suddenly you know plaintiffs attorneys start coming after everybody and saying hey youve got a great point that somebody had to read against and now its mine and then trying to take it away from you those are the kind of its actors that legally are there and were trying to shut them down back to j. P. Morgan if you get that we tax here maggie have to try to i only have to move gently words are wyoming and so we have a huge advantage and in fact actually thats the only reason to be honest why these new Bank Charters would be under consideration or getting access to the feds instead and thats because we have legal clarity to digitalize the transactions and why only there are no other states that have done it and until they do it their banks cant access our skin and because they dont have that really fundamental pressure which is are these assets legally enforceable and what happens in the event one of the banks goes down is the bankruptcy and god awful mess or is it really clear because we dont exactly have to treat these assets in a bankruptcy that stuff is critical its its sort of the base protocol layer of the legal system and it doesnt exist in any state on the way i mean and thats why we can get our banks you have a reasonable shot at getting getting access to them and its tough i see jamie diamond riding a horse on park avenue ill know what thats all about so listen i want to ask you. Questioner you mention gold and you know let me set this up here i know that re hypothecation is a big concern of yours and something weve talked about before on the show it was in the news recently when it looks like the e. T. F. That goes by the symbol g l d is now reporting some bank of england gold as their own so you know really hypothecation meaning that the same massive loaned out many times without any oversight and apparently this is whats going on with bank of england and the e. T. F. G. L. D. Do you see this becoming a problem with bitcoin well if. The market do more adverse financialization that happens. Thats why i have actually been pretty critical of some of the lenders the big question Lending Companies that are out there saying you know we already have talk a bit theyre doing the same thing to make why it is it has been done to gold its funny when i you and i were talking about that that week from a couple weeks ago we engage in some private messages that you know this is people been suspecting that this is true and that in the go a market but you get little snippets of proof along the way and that was a pretty big red cross that proved that in fact actually there are multiple owners of the same collateral and you dont know how financial law is your or your gold if you own it in paper form you dont really know if if if theres real collateral backing out and the same thing absolutely can happen. And thats again why the wyoming laws are structured the way they are i believe in clear Property Rights in rehab hockey said just just obfuscates Property Rights it you can have 2 or 3 or 4 or maybe 8 or 10 different parties reporting in their brokerage statements or on their Financial Statements all of the very same asset when if you collapse it all down. Well theres really only one of those assets and thats that thats a problem and so we believe in good fences make Good Neighbors anyway i mean we saw what was effectively a civil war in wyoming the Johnson County cattle war over can you fence off your property and defend it against adverse against adversaries and the answer is yes you know you have the west happened and that was literally a battle over whether you can enforce your Property Rights and we only believe pretty strongly and what your Property Rights are i came along thanks for being on the kaiser report. Well thats going to do it for this edition of the kaiser report with me max kaiser like to thank our guest caitlin long over there in wyoming on the day of bounty bank project coming soon hey try to catch us on twitter its kaiser report until next time. Is youll be via reflection of reality. In a world transformed. What will make you feel safe. Tyson nation for community. Are you going the right way or are you being led somewhere. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Aura maybe in the shallowness. Join me every thursday on the alex simon show and ill be speaking to guest of the world of politics sports business im show business ill see you then. The world is driven by shaped by one percent of those but. No dares thinks. We dare to ask
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