Transcripts For RT Keiser Report 20240712

Now in the meantime stay tuned coming up next its because im a full. Time kaiser this is the kaiser report fear money. Try over and over again throughout history going back to john laws hundreds of years ago and. As voltaire said the value of money always returns to its Intrinsic Value 0. I think we may be at once again an Inflection Point stacey where the fia let me experiment in paper tears its paper tears from here on out of course kaiser report has told you this for the past 10 years we have warned you about this you know j. P. Morgan himself one time at one point when he was alive back oh about 100 years ago he said gold is money all else is credit well Deutsche Banks head of credit. So he should know agrees with them Deutsche Bank top credit strategist makes stunning admission i am a gold bug for money is a passing fad in the history of money so he said gold is definitely a fee out money hedge hes buying gold and that money will be a passing fad in the long term history of money well yeah this that always has been a passing fad and theres always a return to gold the thing is that when you have money printers in charge the act of printing all that paper money to hang around guys themselves really fills their head with dreams of its supremacy thats the ultimate form of supremacy is i print therefore i am and if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now its all going to come crashing down silver prices on one day in the past week it went up 13 percent so silver is back its pass through its long term resistance for the past 6 years 20 dollars and about 0. 50 has been a resistance it could not punch above that but it punched through that heading past 23. 00 it was like soaring and therefore the bull market is finally back on the confirming the gold bull market as well which never really you know hung out at the 1200. 00 level up and down 100. 00 from there for a few years as well but the gold bull market started about a year ago and now silver is confirming that so here you know you have this guy whos at the top credit strategist and so looking at the bond markets looking at on top of the bond markets bigger than the bond markets as the Derivatives Market and of course Deutsche Bank had i dont know how much of it has blown up with they certainly had the largest derivatives book in the world now passed by j. P. Morgan so. Just want to show you this interesting chart its a visual capitalists chart all of the worlds money and markets and 1. 00 visualisation each square is worth 100000000000. 00 the bottom of the square is silver tiny tiny markets 44000000000. 00 crypto currency is about well at the time of this printing about 245000000000. 00 so its like 5 times as large as the silver market so when you see the volatility and of course tinier markets are easier to move wild swings so youre going to see some bitcoin like moves you saw the up 13 percent youre going to see some down 20 percent days just to put it into comparison the next the 3rd step in this global money size and markets is military spending globally so again silver is just a tiny part of that then you have feds Balance Sheet billionaires in the world and gold so gold is a huge market compared to sell variance figure its the next step up is the s. And p. 500. 00 so you know its up there with a huge you know mark in terms of trying to push it around its harder right well so over well meet the robber to traders right so gold as a conscious 30000. 00 it heads to 3000. 00 the robin hood traders and now there are millions of them and not only robert a but other apps that allow you to trade without any commissions at all banks allow you to trade pretty much about any commissions are there now day traders at home because of the covert 1000. 00 theyre at home in the sports hasnt been interesting and youve got dave portnoy who was a sports guy and now hes a day trader guy so theyre all going to come and look back to so over its got that unit price cheap unit price compared to gold right its like 202324 dollars 25 dollars versus the. Near 2000. 00 for gold so mentally these day traders and robin hood traders will say all this is a lot cheaper so theyll pile into it as they did in 2012011 when you know we saw it go to 50. 00 an ounce based on the crash j. P. Morgan buy so over a campaign now if you want to basically crash all banks tours around the world buy sell for get it up to 100. 00 yeah i mean at the time that we did that it must be noted that j. P. Morgan and inherited bear stearns huge naked short position on silver so they were totally vulnerable to. The price the physical price of silver rising they are now one of the largest holders a physical silver on the world so you cannot crash j. P. Morgan by driving the price of silver up in fact they will benefit because they do own a huge position in silver they know never to do that again but in terms of this you know comparing it to bitcoin and the movements of bitcoin of course peter schiff who hates fick coins and hes a big gold bug and also a silver about Precious Metals bug i do want to point out that on the day that silver rose by 13 percent he brought in that comparison to bitcoin but not in a positive way but what im saying is they are very similar and and how small they are relative to other markets and so one flows of capital go in there they do jump and drop wildly silver is up more than 13 percent so far today while big coin is barely up 2 percent silver is the new bitcoin except with direct utility so while big kind bugs are dreaming about bitcoin going to the moon theyre missing their real life moonshot in silver right well you know peter schiff is right to put big coins so far in gold in the same category theyre all store of value a big coin is closer to gold and that 90 percent of all gold is used as a store of value it hardly any of its used as for utility value at all if thats what peter schiff is referring to in terms of so for its use as you till the value killed. Value actually is a drawback for sober just Like Companies who make money and make earnings are not richly valued by the stock market the stock market likes to put wild valuations on companies with no warning no profits and weve seen that many many times so what you have an actual number there so some are having some quote utilities actually a drawdown but in terms of the performance Going Forward i would go with of course Paul Tudor Jones who is you know lets face it i mean peter schiff is an ok guy and he has done has been somewhat successful but Paul Tudor Jones is is 100 times bigger magnitude scale of success and he has said hes buying bitcoin over gold because its the fastest horse in the race where every dollar of that gold will go up were going to see 25. 00 to 30. 00 in bitcoin appreciate and silver yes sobers always going to be along for the ride but still the fastest horse in the race and peter schiff will have to get schooled on this again and again like hes been for the last 10 years but next 1020 years hell be wrong of course its bitcoin i want to point out you know Paul Tudor Jones also has a huge gold holds or he does own a lot of gold and for the same reason that this credit strategist at Deutsche Bank says Paul Tudor Jones has articulated and i think actually in the last week as well that the fight system is toast because it has to be it is inevitably going to crash because of all the money printing and because of all the money printing that begets more money printing because now the population who has been sitting home receiving 75 percent of the population receives more income now than they did before the crisis so they know that this is possible that you could just print money and give them money so theyre going to demand it theyre going to vote for that theyre going to demand their politicians and their elected officials give them free money thats just like banks have been doing for the last since alan greenspan. Provided the greenspan put theyve been demanding ever since he did that in 1907 then weve always had worse and worse and worse and its grown and grown and grown and thats part of why the derivatives bubble has gone but now that the people know this is the moment where it has to end because its inevitable. Yes it is its inevitable its like a cycle of the planets or the seasons or the tide or the presence of gravity this is all was without without doubt and forever more recurring for mom and mom were paper money collapses and we go back to some kind of gold slash bitcoin standard so i want to show you the 10 year silver chart because of course report has covered silver for 10 years and you know here we were covering it back here and then it went up to 50. 00 and a lot of that had to do with the crash if you want to buy Silver Campaign they were accumulating silver all the way down and then even more during this 6 year base there that is remarkable because i couldnt find a 20 year chart but if you see the 20 year chart its down here so this is still thats that that was the 2nd leg here is going to be the 3rd leg and the 3rd leg in a decades long bull market is pretty wild so we could see we could see you know in this time it might be different but it we could see pretty huge price gains over the next few years and silver right i agree with you that its no longer the case we can crash j. P. Morgan by so far because out there are huge so over holders we understand that but this is a chance to crash the fear money system because when you pull money out of fear and i put it into bitcoin gold and silver you are d. Capitalizing if you have money system even more it was Just Announced that the banks for example in the u. S. Are starting to cost to be big coin right theyre doing that because theyre panicking their fear reserves are becoming increasingly worthless and they need something of real value on the Balance Sheet or the definitely after the clarence often see this time and the silver price went up 13 percent in that day and that who knows what was the actual cause of it some say was eric sprott up in canada hes a multibillionaire and he was putting 1500000000 into physical silver for his Investment Fund also a concert. At the chinese consulate in houston that day was filmed i guess burning a whole bunch of documents after trump had ordered them out of houston so that is part of that deal globalization and the dollar ization whatever the burning of the documents are you know we saw the same thing in cairo when the revolution happened there and they werent down the building in which the police tortured people for the cia and then you know the cia entered the scene and burned all these documents so thats what happens but its a obvious symbol of an end of this era its over de globalization dollar ization and so you know that is the trigger for this move and whether or not it can ever go back down because were at the end of the system the system and this dollar is ation and globalization and to trying to fit cation yeah i thought that was just some sun burning some tromp. You know they like to do that every now the cover up to their set all to coin in case of those of you who are out there who dont know that we had lots of the warren buffet you know you just right so used to own a lot of silver Warren Buffett told to afford all of. That guys record outs of bank booboos anyway were going to take a break and when we come back much more coming your way dont go away. Danny and by north speak it so many people because they copied him hes so bored that even such a bad puppy is sending. Im not killed anybody until god didnt kill to find the next guy. Who looked up live on canyoning being done the infidel to feed the dog she even dumped the attempt. To deflect some or the c. E. O. Thing is the deflection board is tougher to say. That is going to be that then i got up for many observers. That he and others are going to going to see a lot about. That that you can bank on that nothing like a. Long long while and then he goes along the bottom the Shopping List which i live in control cannot all. Handle a new person and lead to any move 100 gandhi a new normal gandhi. On the seas. Keep you know to you then dont mock you then damon join you. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation whole community. Are you going the right way or are you being led somewhere. What is true what is faith. In a world corrupted you need to descend. To join us in the depths. Of the shallowness. Room. Welcome back to the kaiser report im max keiser time now to go to j. P. Barrick Capital Ventures j. P. Welcome thanks for having me on again guys sense of youre all right call now sir you have a background and Bitcoin Mining is mining still an option for the Retail Investor whether with a home Mining Operation or a cloud mining contract a pay for the retail vest investor mining is definitely still an option i wouldnt touch my contracts all right ok ive done that sounds exciting now lets move on to china china is currently estimated to have 50 percent of the big coin mining power while the u. S. Has about 14 percent do you expect the u. S. Share to grow and if so how why where within the various states so yes we do expect the us market share to grow we expected to grow in texas and in upstate new york were seeing that do you valuation of the Energy Market in texas is providing a huge opportunity for our miners simply the recent federal government has put out a lot of incentives to build solar informs and so thats incentivizing its huge amounts of capacity about 20 gigawatts of Renewable Energy to come online in texas which helps miners because it lowers the power price in that area were seeing power prices in the low 0. 02 and even sometimes one cent for negative pricing during times when theres too much power on the grid so miners are definitely forced to grow and expand very rapidly in texas and in upstate new york you know j. P. And this current environment where the fracking industry its coming under a lot of criticism rightly so because its never really been profitable from day one its ecologically devastating and its going out of business the. Having story going on in texas for bitcoin would seem like it would deserve mainstream Financial Media headlines because it is an American Energy Success Story your thoughts i definitely agree with you i think that our miners are going to play a tremendous role over the next and its 20 years in great optimization in providing more Grid Stability providing 100 percent to pasadena providing more capacity on the grid but big farm owners have the ability to turn off for that one percent of the time where we all need energy so when this peaker plants of this natural gas instead of running during the hot days that only run from each and 20 hours a year those plants are no longer to be needed so i see it for money in 6 huge Success Story for the Energy Industry in for the industry as a whole the problem is as you guys know pick our money has had this bad picture of oh were using too much energy its bad for the environment and the media doesnt really like to talk about it and the banks dont like to finance it so theres really not much of an incentive to bring the interest industry the forefront what we expect over the next 10 years that that story will change and were excited to be on the forefront of changing that story so following up on that point other countries same to be waking up to the fact that switching over from gas and oil to pick cotton mining seems like a shrewd move in terms of developing a hard assets to possibly put into their reserves and be a say other country is really picking up the ball and running with it in a more strategic way if so can you name a couple of countries they think theyre really waking up to the possibilities hair and is the United States possibly putting in soft behind the strategic 8 ball by not waking up to this opportunity j. P. Suhr so on the on the question of what countries who seek coming into the space and if its going to leave the United States behind were seeing that iran has recently published some new big mining make elations and are providing very very cheap our countries. Like ukraine are starting to look at this and are looking at mining had Nuclear Plants and larger so at least countries such as brazil are looking at. Working with their state own companies to mine cryptocurrency used there are tons of Energy Generation assets out there and because of coded the Energy Usage Patterns of consumers and businesses has changed across the world which is requiring a lot of these Energy Companies to rethink their strategy in the United States were still havent got there to the point where we have a support from either the banks or the big Energy Companies but people are started dabble in what crypto currency mining could mean for the Bigger Picture expression as it begins to stay all and more capital is invested in the space play just film and Capital Ventures what are you all doing over to our own capital banters briefly. Sure so our Capital Venture is now working on building out large mining facilities in conjunction with some of these. Privately owned Energy Companies and some of these Larger Energy facilities so with big time mining it really fundamentally challenges the want to some sunni how about electricity and that is that needs to be transported to the end consumer with big for mining were actually able to bring the consumption directly to the production and this fundamentally changes how we look at energy as a whole so were working with natural gas plants some of these larger Nuclear Plants and some of the solar farms wind farms to consume the energy when its not needed by the grid directly on site so thats how or in Company Ventures a scaling up were also looking at projects between 50 to 250 megawatt range and so weve moved from previously working on smaller one to 2 make wa projects me talk 4 years ago just dealing with the industry and really building out large deployments large consumption projects on some of these stranded Energy Generation assets so you mentioned direct production directly to consumers to consumption and south that is a new model right. Yes it changes how we how we view at it she simply you know before you had to go transmission lines to define a consumer to know if that consumers they buy 247 or join the day or night with big time ayers we run 247 were able to turn off immediately and not affect our profits because we get paid on a per 2nd basis so we only lose you know that hour or 2 hours of downtime were not showing any processes that are like running server farms or running websites where we are a consumer application and so become as one of the only applications that can consume a large amount of power in sicily but then actually we leave that power and send it back to the grid and let the power plant sell the power back to the grid when its worth more during those hot summer months whole winter days you know our friend marshall law has become a miner in texas made the comment recently that he considers himself to be in the Energy Arbitrage business do you think thats what its all about can you comment on that. Yes that is what its all about and marshall is an o. T. In the space spending there for very long he understands that energy for mining isnt to privet if of energy allows you to buy a jewel of energy or actual lot of energy locally and actually sell it to a google marketplace and as banks and as finances twosomes and as Energy Companies understand this we expect the industry continued growing rapidly this ability to sell energy to the network at any time of the day and always know how much are going to get for it is really revolutionary and its one of the reasons why big point it or mining has grown rapidly in the expected keep on growing over the years right here is kind of a broader picture question here so the t. C. P. Ip protocol that is the protocol for the internet bitcoin many argue is a protocol and the dominant protocol for money and it was the 1st time in history that the Software Revolution that transformed all industries starting in the seventies and eighties hit money and so the Network Effect metcalfs law they proliferation of contacts have a day all the things that have transformed industry around the world using software and Networks Finally hit the industry of money it self so the question is that you know entire industries were wiped out by the t. C. P. Ip namely the Music Industry had to be completely transformed and reinvent it so you do you take the same thing to happen with the big point protocol to totally transform the Global Economy as we know it may be central banking as we know it in banking as we know it in which industries do you see being wiped out other than the bank of International Settlements and various other Central Banks j p. As you know ive been a big advocate for big car and for the past 8 years now so i do believe that it has the potential to be centralize how we still trust or how we transact value over the internet some big things that i see block change and big or more specifically disrupting are as the 1st you know most prominent one would be the Energy Industry its a very regulated industry and its becoming more unregulated and theres processes a procedure is being built to allow us to sell power back to the grid and work with the new host so thats the 1st industry that i see really kind of going to have to adapt and work on this new model be able to consume and consume power right where its generated one of the other industries i see is on when it comes to time influencers whenever we spend time and watching it influence service aims their music video watching their tech talk so that you tube videos i see a huge opportunity for tokens to enable these influencers to work directly with their fans and actually capture a lot of that value thats created that brand loyalty and brand value at the token level currently most of that values capture the platform level where the media is being distributed so on you tube on say talk on spotify and hopefully will see over the next 10 years wasso tokens or lots of watch games to come in and help replace that value transmission level and that that brand building level of communities coming together and really. Pushing for an idea with the proper token economics of the proper structure for a token you can incentivize a community to promote that artist so that influencer so those are 2 big us areas where ive been spending on time and where im actively working on improving the overall experience for consumers and for all the partners who are right kind of follow up on the site have token talk to make an omelet so you have they have become proud of it clearly as i laugh. Asked jack that had roughly 85 percent of all the hash right of all the block chains and all the crypto projects and that number would seem to going to increase as you have more institutional players in to pick wine as they quote mining becomes more institutionalized and so when i think about some of these other projects and the past like the hard forks because i said tell us evasion or because in cash for example it seems that the question is not really if they have any utility but the question is more will they attract enough ashtray to survive. Because they quien has is the protocol of money it has established itself like t. C. P. Ip establish itself so the problem with these other projects based on the sell is that theyre useless but that theyre just not going to attract enough energy to keep going your thoughts. I agree with you completely that the hatchery is a key indicator on how much capital or how much energy is putting is getting is being put into the watch a security we see that watching is the most important thing is to make sure its here and as you mentioned some of the other other ports of big point dont have anywhere near that security most people on when they come to the industry to learn about big point here is no big point e. T. C and then they can learn about the other changes but its important that when theyre making that decision that theyre theyre basically joining ecosystem and when they join the ecosystem is a lot of Things Considered security being one of them but also the onboarding ramps so being able to work with companies that have spent years building myspace is super important obviously those other tokens will always be around but people have to question do i really want to secure my Financial Freedom or my financial well being into this law change that isnt a number one and as you know in most industries the top top corner the top competitor grabs 80 to 90 percent of market share i think you see that with a pointed at a gray thanks for bang on the kaiser part. Thanks again guys for having me pleasure heidi well thats going to do it for this edition of the kaiser report with me max kaiser and stacey here but i want to thank our guest j. P. Barack want to catch us on twitter its kaiser report and so next time. This is the bus the one business show you cant afford to miss. In washington coming out of Senate Republican unveiled the much awaited counterproposal on another trying to fire a stimulus package that doesnt come without democratic critics that. Its frustrating because they did there for 3 months for now would steer very is very serious cliffs that hurt lots of people. In the us and australia officials are holding their annual