Transcripts For RT Keiser Report 20240712

Com but right now stay with us for more amazing programming right here on r. T. International. Time max keiser this is the kind of report thats right we ventured global depression style longer recession forget the recession. Or. The pression this will last a few years ago so you know whats going to stay well endings are always always always new beginnings so its an opportunity to come up with new Companies New monetary systems new economic ideas and new populations and ways of interacting with each other so one of the headlines i want to turn to here is from africa and this guy runs a big Clean Company in africa and he says 80 percent of my big question customers do not hold any crypto they buy bitcoin to make payments that is the state of crypto and africa not speculative so obviously theyve jumped ahead from big question as a store of value and theyre using it as a global trade unit of account in particular he pointed out that almost all cars at least where he lives in africa come from overseas like japan and theres a huge used car market where they ship the cars used cars from japan to africa and these people are paying for its with bitcoin right you know this is an example of an area of the world that was considered lagging but could leapfrog to the head of the class a member part of the reason china became such a huge economy is that they entered into the Global Economy during the age of mobile phones and there wasnt really you needed to build the infrastructure of the old copper wire base telephony same thing in india in africa because they are already mobile phone. Marianna oriented are dominated now with mobile payments and with bitcoin encrypt of payments they are in a position to leapfrog the world and become the 1st hyper big quite as ation example and that would be an enormous if they could lead the world yeah of course for domestic payments and domestic transfers of value they already have. Things like m. Paisa and many of their countries have their own unique mobile Payment Systems here is for a Global International trade this is one of the things that the book on our shelves standard argues is that one day well have bitcoin as a global unit of account for these larger purchases of a cost 10000. 00 for a car you know trying to transfer from a bank in africa is almost impossible theyre cut off of the Global Financial grid not because of sanctions or anything just because the you know its that supermodel thing with our banks its like they cant just be they kept me bothered with people who dont have enough money even and domestically in america you know j. P. Morgan doesnt even deal with people who have like less than 200000 its like not worth their time yeah exactly right the banks become spoiled in the us and they get a lot of free money and they dont really need to work as that concept is understood in the economy but in africa they are very hardworking in the decline in mobile payments and fractional payments using soto shes is really going to help them take over in terms of being the leading economy in the world i believe and back to america i want to read you a little poem about america this is a poem about america and this woman did a Google Search do i and the top search results that came up. Do i have coronavirus do i get a stimulus check do i qualify for a stimulus check do i qualify for unemployment do i have 88 do i have anxiety do i have coded do i qualify for unemployment new york do i want to know lyrics do i have depression so its an insight into the subconscious of america yes so this is the results of a Google Search on the algorithms well put up automatic results based on frequency that these are our searched on their platform and so we get an insight into the psyche of america and clearly what we see is a country undergoing extreme stress yes yeah and i would go on to say that politically speaking you have an interesting free verse going on there like an economics or on the sink of is a cummings or Commons Cummings yes indeed you know you know my capital letters old e e everything wasnt small case you know its like. Dissipated case sensitivity this is true about that poem and i do want to say that i you know as a good journalist went to check to make sure that this was true and i entered it myself and many of those are there but the 1st result the 1st autofill i got from google was do i have what it takes to be a comedian yes thats a good question a lot of people should ask that question but. You know but its also interesting exercise and self actualization freud in her union says the world you know theres of the anxiety an existential crisis that is provoked and that through maturity and great philosophers in france explore this i start and others and so here you have like the pocket sarky you dont need to read the tempest none of the past thats in or other classics so must start you can simply get your existential fix and be somewhat french by doing a search bow tie on google and get enough of an anxiety hit without going to paris so thats a hack you know if youre on lockdown and you miss france you missed paris you know get some anxiety provoking self searching existentialism by doing a search on yourself on google well in terms of no self you can also always go to times square in new york and find out who you really are sure the world really is who our nation is by times square we have a time square president in the white house of course with donald trump he speaks like if anybody were alive in 1970 s. And walk through times square you know you of course think of like taxi driver right and you think of donald trump he sounds like somebody who you would have heard trying to you know sell you something some scam item in times square but lets look at new york because new york is the center of the Global Financial universe upon which the u. S. Dollar is based the u. S. Economy and much of wall trade everything goes to the new york fed that is the heart of everything so lets look at the scam nation there in new york city 25 percent of new york City Apartments have not paid rent since march a new state law prohibits evictions while social distancing rules are in effect this could last until theres a vaccine the city is bracing for. Hundreds of millions of dollars d and delinquent property taxes Travis Bickle is coming back to Travis Bickle star of taxi driver rome time square and you know became a hero antihero of the seventys revenue seventys as economic stress and it was a Great Recession at that time Oil Prices Spiked higher and it was the birth and culture American Culture of the n. T. Here to to kind of reflect the negativity of the times so you have taxi driver and you had alan pakula made of great films like the parallax view for all the president s men and so it introduced not only of men actors but shame now doesnt happen theyre not traditionally a leading men type looking characters they became anti heroic characters then that all changed under reagan and we had top gun and tom cruise and we went back to like the 1940 s. And 1950 s. Of america kind of granite chand right just captain america look and now i think were going to go back to this kind of possibly of heroic actors than icons and role models and itll be back to son of soundmen Travis Bickle you know in terms of that whole scene from the seventys and stuff its kind of weird that we cover that up as our National Character when we entered the eightys and ninetys and the 2 thousands of all these huge action films where you know her roic buff american saves the world oh hes from alien invasion from evil bad guys but back in the seventys you know before we turned into action heroes you know even spielberg and even scar says he turned everybody into an action hero but right then that was the true heart that was what we were this is the dark side theres always a dark side the government was out to get you as was widely as you pointed out with parallax view and all the president s men and stuff like that the conversation and things like that then you had. Travis bickle that like nice kind and i 2nd smiling guy the guy you know whos helping you just taking you from point a to point b. In new york city but he actually wants to kill people like this is the you know this is the dark part of it so you know its interesting that thats coming back like that were returning to that where it where were no longer living under the delusion mostly that young people because perhaps they dont go to hollywood movies they dont go to movie theaters they will watch ticktock films and who knows what they watch online on you know various form boards so theyre indoctrinated or their culture or their understanding of the world is completely radically different and youre left with all these people like even Robert De Niro who just doesnt understand the american psyche even though he played one of the archetypes like that chavis bickel is donald trump like how can he be a method actor and play that character and not understand in any way what is before him because like all those journalists in america who they are supposed to be talking truth to power but they get subsumed by the powerful in the elites and they hang out in the hamptons and they become enablers of the powerful delete and the corrupt same thing with factors who become like Robert De Niro transformed into National Icons and be friended by the hamptons elite so he loses all of his moorings and terms of where he came from as an artist yeah well you know just my point is that you know we have a population who is indoctrinated into thinking were all superheroes and if you are not a superhero then you are must be destroyed and the platforms and memory hold because when we grow up watching these films thinking this is how life is now in terms of new york city you know we also read a story this week that. The rats and Everybody Knows new york city rats we have pizza rat we have i think there was. Some chinese food that we have all those rats but the rats are not being fed because theres no garbage being put out because restaurants are open so theyre fair on hungry and well theyre starting to terrorize the people who are eating at restaurants because some restaurants are open but you can only set outdoors so theyre outdoors and max and i dont walk down the street in summer and so new york and there are rats everywhere are totally unafraid of humans just walking by you like out of my way buddy move over move over that was before the this crisis apparently yes theyve really gotten like seventys level rat infestation you know and i think ive mentioned before that they are post headline about woman disappears on fault and street presumed by rats who actually live not bought in st i was living downtown at that time it was quite disturbing but yeah it was quite seem. Seem to be returning to that 25 percent. Vacancy rate and that means all those land are going to go bust which means all the banks are going to go bust and then all everythings going to go bust its not a 25 percent vacancy rate people are still getting to leave for free theyre collecting their unemployment checks or expanded enhance unemployment checks theyre staying in their rent their apartment rent free now for 4 months will be 5 months at least perhaps until december that they can to live rent free so they just save they build up their savings and then move on once the whole thing falls apart but in terms of new york city whether theyll survive the property tax is new york citys largest source of revenue it is projected to generate 24000000000. 00 in fiscal year 2017 or 44 percent of all city tax revenues and about twice as much as the 2nd largest source which is the local personal income tax in new york city is going to go bust once again just like what i say we said new york city times square donald trump donald trump created himself when new york city went bust he came to the rescue he was one of these people that got all these loans they created all these bonds and they built up he became an real estate magnate during that time and once again hes created the. Very conditions partly through his ineptitude with coburn 1000 but also his property tax that he cut the deductions that you could do so hes turned new york city hes ready for his postpresident ial career right ashes to ashes dust to dust. Im going to brick worried about a sparkling. The world is driven by dreamers shaped by phone person with those words. No dares thinks. We dare to ask. Anyone else chose seemed wrong all right old quotes just dont call. Me the old belief yet to shape our disdain you cant get out of jail and in the game training equals betrayal. Once all many find themselves worlds apart when you choose to look for common ground. Welcome back to say the kaiser report imax kaiser time to go to 0 g. B. T. C. Marshall long this guys been in the game a long time hes been mining big point since 2012 my guy marshall welcome back to the kaiser report a good always be back with the homeys and yeah man great to see you and listen big hash rate its a set a new all time high and over 100 24. 00 x. A half per 2nd so for those in the audience who dont understand what this means what does it mean what does it represent what does a suggest what it what tell us about it marcel all time high it has sri maxs you know hash rate generally precedes price its a bit forward looking however what that means is a few things theres a bit of a consolidation happening a lot of people who got in early in 2017 theyre getting pushed out because they overbuilt their mining data centers theres been a lot of him and a activity recently and theres other people that are stealing up there are their operations so collectively its a bit of a consolidation and exponential growth in the Mining Sector let me ask you something people look at the price of pick line and they read just about everything they think they know about it into the price but big queen ask people like Paul Tudor Jones and others like you have been saying like ive been saying now from 10 years or more its a new asset class it has new parameters upon what which we value it and in the case of hash trade which is the proof of work mining out a rhythm at the heart of pick coin running at 12830. 00 quintillion calculations per 2nd this shows convincingly that despite the price being somewhat flat over the past few months the amount of my. Any pouring into the space keeps going up at a very high rate and i think that is a metric that people need to focus on more than price what do you think yeah a lot of people ask me why im still a big fan approval work versus some of these other consensus mechanisms and heres the deal you have affectively sun capital that has a singular use and so the more the hash rate goes up thats more for most of the people like myself and yourself that thats more proof that theres more confidence than ever because as you see the price the hash rate go up what youre actually seeing is more and more capital being burned into a one way street that is big points are seeing a huge flight from an all these other fragile systems to what is good hard money in this case because yeah i mean thats a great way to put it and let me ask you this a lot of people are concerned about a concentration of miners and china in asia in general and my understanding is that a lot of that mining activity is not coming to america particularly the end texas so is that game theory or work is that true is texas a great center now for mining marceau whats going on yes or right now is a really interesting time is starting to feel more like 20132014 days when the activity in china wasnt so great a lot of my buddies that are chinese they are not growing their mines in china as much anymore theres a lot of stuff going on in canada and states a lot of activity in texas im not going to comment on what im personally doing but lets just say its very hot where i am right now right ok fair enough now every 4 years the amount of mining output is generated every 10 minutes per the algorithm gets cut in half and you know this isnt staying d part of the protocol and it has. Fooled a lot of people i can think of Bitcoin Core Developers over the years like my current and others and interests and others who were so bamboozled by this they actually quit the project because they warned of big corn death spiral but wait it never happened. Is that right to say that and can you explain a little bit more. The big thing for the having it in my opinion one reason why i think it makes big points such good hard money is the fact that the its a somewhat deflationary currency in effect that the amount thats put out goes down over time you know that thats the provable scarcity part of big going thats a cornerstone of hard money. Its also why i like gold and some other assets but im big corn in particular this death spiral is actually a feature not a bug in my and other educated peoples opinion right well stated ok so now lets talk about nation states now. Mining big would i want to look at a country like venezuela for example you know they they are in a hyperinflationary when it collapsed its a very stressful situation they went down the path of oh lets create our own crypto currency the petro and that had obvious limitations for one it centralized and thats not going to compete and not really going to be worth ones time really then what i understand is that theyre actually getting into bitcoin itself doing some mining i hear the same thing about iran i hear they things about other countries so you are on the front line of big mining you are the guy i go to for the insight tell me whats really going on it is well its actually under the radar been in mining for a while i have several friends whove been working im not going to say what the government but been a swale of the power prices been cheap forever so now theyre starting to look at us as a petrol is a big flop for a number of reasons but you know iran is really interesting to more so than what we saw previous to is russia you know theyre really doing good power deals with miners in russia and siberia but iran in particular is getting into the game i would say right now its not that interesting as the advertised amounts that they. Have been able to or are planning to bring online arent. What i would call large scale however its interesting that the geopolitics is starting to play out in a way where. You know previously youre seeing countries trying to ban big corn and now theres a lot of embracing going on all the way down to the infrastructure level for mining so. Been a swilly iran russia. And even india now at this point are are starting to become more interesting as far as mining hubs go this is of course so fast they have a game theory which is built into a stack you know the protocol the Technology Stack theres a layer theres a whole layer game theory and we hear from people who say all the time my god what if governments banned this thing but whats really happened is that as you point out the game theory has kicked in and governments are going to be hashing mining coins for themselves as a Strategic Reserve could we see a sputnik like past race going around and around the world where people say that governments decide you know what he who has the most because it actually is going to win the geopolitical game and we get into a bit of a hash war is that a possibility im not sure on that i know that a lot of Government Entities as far as you know cities and states they have mined big going to prepare for what we used to have an eventual Ransomware Attack consultant a few projects like that as far as. I dont think youll see big shifts like that until you have Something Like i. M. F. At pick corn as a reserve currency or you have whats kind of playing out right now with r. And b. And the u. S. D. Kind of battling each other i will say things will get a lot more interesting when the u. S. Goes negative on their fed rate so. I dont think well see that anytime soon but it could be an eventuality if things go. As south as they seem to be so this negative Interest Rates in the u. S. Following suit with other countries it looks like a distinct possibility the trend for rates is still down and the bell outs are increasing and president champus said he believes that negative Interest Rates are the way to go to remain competitive with these other countries that are trashing their currency with negative Interest Rates so. Mining is let me you could ask you this whats the cost of mining these days i know its variable because the energy cost is a huge component and the hardware costs etc what is the range now between producing a coin what is the cost range last i remember it was around 4003. 00 coin and that thats very out of date information now whats the current information right now if youre extremely extremely competitive youre somewhere around the 3500. 00 to 4000. 00 range and if youre kind of what i would say a large scale Industry Standard youre probably around 8000. 00 somewhere or somewhere in that range what do you hear from because youre in the states or in texas when you hear about this whole movement in wyoming now to become to coin friendly as a destination for new companies to move there is this going to be a big thing do you think. So wyomings been interesting is actually where ive had my Company Since 2013 and theyve always been a great place to do business and of course our mutual friend kaylin shes been doing a lot of great work up there. I will say that the one problem i have mining wise when it comes to wyoming is the power rates cannot be as competitive because. They shoes they have with Rocky Mountains and black hills and all these kind of theres theres big 3 big power struggles for real power going on in that area so the pricing is decent however the biggest thing by far is the banking that killens been doing a lot of work with and crypto friendly banking along with the economic incentives and no regulation but as far as mining goes i dont see wyoming as being a very big hub for mining for a few years now until they can get their power price down or are right so on the follow up of this issue of power and power pricing etc so big best perception about Bitcoin Mining is that its environmentally not good thats actually from what i understand the opposite of the true case can you elaborate yeah actually i suppose she round table this year we held. A big kind of group around a bunch of the top miners got around and the reality is right now i think theres 85 percent of the power used to mine because when it might be more now. Either renewable or it would go to waste friend since northern sweden theres still a lot of mining going on and they have an inner connect only with norway nobody lives in northern sweden or northern norway the internet is great and theres just that power would just go to waste additionally thats mostly hydro its so serious dealing with either renewables or power that would otherwise be wasted and just not be used at all that accounts. 85 to 90 percent of the power now and theres a very small amount thats also fuels in this kind of answer quitted stuff so. It used to be the cases just get power wherever you can 20122013 now its more about the price and theres a lot of renewables i have great pricing you know even in the states theres a lot of hydro being used so i was a miner i feel like im not burning down the rain forests anymore which is great. All right well marshall on thanks so much being on the kaiser report hey thanks max always a pleasure and thats going to do it for this edition of the kaiser report with me max kaiser in states here would like to thank our guest marshall long big calling miner if youd like to get us touch on twitter as kaiser report until next time by. During the vietnam war u. S. Forces also bombs neighboring laos it was a secret war and for years the American People did not know. How much anticipation can rebound country per capita paula consume in history millions of unexploded bombs still in danger lives in this Small Agricultural country. We have been going to continue tapping even today kids in los full victim to bombs dropped decades ago is the u. S. Making amends for the tragedy in laos wont help to the people need in the too little and. Join me every thursday on the alex simon show and ill be speaking to guests of the world of politics Small Business im show business ill see you then. 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 belong