Is everywhere and everybody does it Small BusinessEmergency Loan Program in the u. K. Threatens to descend into chaos a gold mine for enterprise and criminals even legitimate borrowers face sky high default rates taxpayers to eat the losses and this is called the u. K. s bounce back loan program well the point is that you know you have looting at the top 11 looting throughout the economy and governments are trying to rush in these programs but the governments that are rushing in these programs themselves have been perpetrating a massive for fraud i mean thats what it is in terms of the last 20 or 30 years every penalty weve seen applied to all these big banks whether its the u. K. Or the u. S. They got caught red handed committing all kinds of accounting fraud and sun now theyre trying their packaged their programs as they understand the. Because i never got put in jail for it so theyre thinking about what we were doing this is the right way to do it and so they repackage the same kind of progress but for small to Medium Enterprises and these guys in the small to Medium Sized Enterprises in the u. K. And in the u. S. They dont have the sophistication of a city top banker you know theyre basically thugs so then they it becomes quite ugly doesnt it its like fagan in the you know in the not the wizard of oz but the oliver twist oliver twist fagan and oliver twist it all look so so insanely so ok well lets go over this whole program what happened in the United Kingdom they passed a program called a bounce back loan program and they had to introduce this because a reasonably back in march and april they said ok the government i. E. The taxpayer will cover 80 percent of the loan cost and you the banks issuing because the private banks are the conduit the middleman you the private banks will have to eat the 20 percent you have to take the risk of the 20 percent of us no bank was willing to loan to the small and Medium Sized Enterprises that was too risky for them they saw ahead they have data on statistics and look at the at that at the case of what happens with a pandemic and they were the honest ones and said no thats a risk of total wipe out for us were not going to do it so the taxpayer had to bail out they had to offer a 100 percent guarantee for these lines and so at the same time some part of the unit of the government organizing this did say well this is a recipe for fraud and what happened is a whole bunch of elsies were created a whole bunch of limited Liability Companies are created out of thin air everybody applied for a loan and they all got it so all of the 58000000000 theyre there. And theyve lent out to these small and Medium Sized Enterprises mostly to Small Sized Enterprises well all of that theyre expecting that itll be as much as 23. 00. A 1000000000 pounds at a minimum that wont be paid back so the taxpayer will eat that 23000000000. 00 pound car so this is a failed government scheme and it goes back to George Osbornes by the lets game remember on the. Help to buy scheme by George Osborne we covered it we said mother loved it he she thought it was a Great Program his mother loved it and at the time we thought you know this is just going to boost the price of homes because youre injecting all this ersatz money and thatll just actually make the situation wont more make it any easier for people to get homes because the prices go up by the exactly the same amount of the cash or injecting and sure enough thats exactly what happened and it ended up with price bubble and it ended up with a lot of money in the u. K. Economy that would have gone into different types of industries and a difference of 5 economy in a robust economy it all goes into housing so now covert hits of the bubble bursts and he suddenly dont have a diversified economy or contingent upon the success of only one industry housing and the banks that made all those loans are terrible shape but that was the antecedent to this and now covert hits and theyre saying ok now what were going to do is were going to boost the economy with all these more free money from the government oh by the way thats unfair for a 1000000 Different Reasons so there is going to make it available to everybody oh thats not going to work because if you give everybody free money then theres no actual fraction of the economy that would be legitimate g. D. P. Growth its all fake so therefore the taxpayers going to have to pay and are going to raise taxes and by the way the government is broken have to increase our money printing as well so its the its the flipside of in 2012 was the peak britain of this century of the olympics where theyre the queen jumped into the olympics from an from a from a from a helicopter in the same spot james bond you know that was the peak of new britannia pertaining its been just slip n slide down since then again i dont want to just pick on the u. K. And George Osbornes mother did love that i do want to be fair and balanced that there was and the people who got the free money from the taxpayers did love the program as. Also they you know anybody who gets free money loves the program but the problem with this plunder and the problem with the trickle down to remember the pope just said that trickle down doesnt work the trickle down doesnt work because if its a system of plunder based on it youve got to get everybody to do it so the fact that all this money sat there and only the plunderers only the fraudsters came forward to take these loans youve got to get ordinary citizens to also participate in the plunder because if theyre going to plunder you you know everybody has to enjoy the plunder because although thats the system is based on plunder so if youre not plundering then there is no economy and so this is the situation in the u. K. In europe in america all over the place that the ordinary citizen has not participated enough in the plunder like ordinary citizens are sitting in lockdown at home and collecting some unemployment but they should be out participating in these plunder programs because thats the way the system is set up and designed and that is why. Almost 50 years later if it makes us to 50 years this system has been plunder all the way through why should vestment bankers be able to list blank check i. P. O. s on the Stock Exchange for billions which give them a lot of tude for almost infinite plunder yet why cant the average mom and pop or in the u. K. And in america list themselves on the exchange as a blank check i know they should be doing 1000000 dollar they should be doing that and thats the problem with our economy right now is theyre not participating there too theyre trained in all these sort of ideas of morality and you have to be a good you have to pay back your debts and all that sort of stuff look at the way people responded to all of the debts on Donald Trumps tax returns there. Is are and again like i have to say this is theyre causing the problem because this is a system based on plunder it is a system of plunder and yet they refuse to participate and thats making the whole thing to sent a great faster because its causing the wealth and income gap is causing you know. High on steroids. Down the road in an s. U. V. And you know where in this crazy situation because of that but its just they have started the plunder of time that has happened over the past 50 years of this all fiats currency system and its the day of reckoning the bills coming due for somebody remember if youre not actively plundering you are participating in someone elses on their as a tax lost i made that point clear in the last episode with n. B. C. And comcast ok were going to check your break when we come back much more coming your way. A dark industry comes to life in los angeles every night. Dozens of women sells their bodies on the streets many of them underage. Los Angeles Police reveal a taste of their daily challenge if youre going to exploit for a child here in los angeles they were going to come out you would see officers going undercover as 6 workers and customers to fight the 6 trade. Is youll be a reflection of reality. In a world transformed. What will make you feel safe. Salacious community. Are you going the right way or are you being that. Way. What is true what is. In the world corrupted you need to descend. To join us in the. Forum made in the shallows. Of the u. S. Economy was booming growing numbers of people were made homeless. You can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of the were not financial ecology and the lack of Affordable Housing for a living minimum wage gave many people new choice. Thats been a problem with the city knows turn to make sure and told me stay away i dont know miss. The food if there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible comes. That lets just say i just know that the feeling is that all the. People want to make our way why it was a good out of the. Clear we hope to be but this year our awesome friend so that the us are skills up at the so youre hoping to do something to see. The child for sure. They value the lack of physical allen lack of alcohol and i was a boy but im one of that kid i will look at. My. Nuclear powerplants have become a battleground in the us it is our moment. People are demanding the shutdown of a local plant from my yankee is right now my focus because its a very dangerous oh no care power plant the owner is attempting to run the reactor beyond its operational limit this case just sort of puts a magnifying glass on wheres the power in this country wheres it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy as are power lie with the people this case demonstrates that struggle in very real ways a struggle. Welcome back to the kaiser report im back faster time now to return to our conversation with this young man as you throw up welcome back thank you max so the 1st part of our discussion in the previous episode we were talking about this Virtual Reality meets the reality of today i thought very interesting i wanted to get into some other aspects of this i should mention that youve got a 5 part series out called when the world market itself is fake economic value loses any real meaning i want to talk about some of the economics involved here that weve been subjected to and ben victimized by that would be the private equity model is being deployed against all economies using the feds free money the sanctuary to do a leveraged buyout of the entire economy where do you see this going what happens when there are no more assets and only liabilities left zits well again i mean i almost wonder where that value is going we know that literally tens of trillions of that are being siphoned into offshore havens taking it out of circulation and being put into these private secret Bank Accounts now i understand the motivation of that discrete and i understand the motivation and that is knowing that you are stealing and you only you have to hide stuff that you steal because if people find out about it then you know all is said you might actually have to give it back but again we talked about nihilism what happens when you withdraw currency value assigned value and you basically store it away outside of the economy you impoverish everything and they do that on the micro scale with companies they just borrow money you look at the term itself they used to be called corporate raiders and they did make over to live fish fight then another p. R. Make over to private equity yes. Rader thats what were talking about here you go in you saddle them with debt or you borrow money on debt and then you lay it back on the company you just bought you hollow out all of its productive assets oftentimes real estate and so forth and it has happened in every company practically every company theyve tied steely insert they did it even with your executive cleaners and it basically bankrupt the company own once productive Value Companies for creating doubt quality d products they used the reputation they used the information of the momentum of that and then just savage it where is that going to go i dont see it going anywhere except creating essentially a worldwide production bankruptcy and a complete hollowing out of any kind of quality in products except those made on a more local level the film wall street in the 1980 s. The roger stone film i believe was the director oliver stone oliver stone and i said roger staats hes getting in the ad business now. And so this was the gordon gekko the corporate raider and doing the leveraged buyouts and his speech about how the shareholders rule and you know we can never do the Pension Funds and get rid of labor now this this this film was used as a textbook for 2 generations of corporate raiders and the size of these private equity as you point out its a reprint of corporate raiding as not into the chileans of dollars and they private equity firms are you know a trillion dollars in size black rock is worth over a trillion dollars warren buffets firm is worth 5600000000000. 00 its a good its essentially a friendly corporator firm and as you point out trillions of that value gets Spirited Away into these offshore black holes and never seen again and you know its really amazing to me this is if you got the central bankers like Jerome Powell will testify before congress that he has no reason that idea why when he prints trillions of dollars the money philosophy that is the chart that shows how. How fast money is circulating through the economy he has no idea why the money of loss is crashing he just keeps printing and as you point out and others point out and others youve looked at the big 4 Accounting Firms who enable this to happen its quite obvious you can find 25. 00 to 30. 00 trillion dollars thats now offshore thats been stolen by private equity and such your own pastoral powell is he just a useful idiot and that he doesnt really understand much or is he a complicit but i think i think its a combination of both hes a useful in it in so far as he i think if you ask me said well what else can i do its probably what his answer would be and i think hes complicit in the sense that he understands where his bread is buttered right he understand who pays and the understands are his prissys comes from the understands that if he goes contrary to their precious hes going to be out on his ear so hes a little bit of both and you know to the original question what else can i do i would say how about actually giving money to productive citizens who are hurting right now instead of buying up the irresponsible ridiculous decisions of corporations who are hollowing out getting way too much in dividends saving no money for a rainy day you expect us to do that what you expect them to do that and you have no answer to that because he knows what the game as the game is predatory i take your pay and a story well as previous predecessor bernanke of course went to work at citadel and made a quick 1000000000. 00 or as were getting that way quickly so i think we can say i believe i can say with one percent conference that hes complicit in this major crime and so lets move on you were living in the philippines last we spoke how are developing economies such as the philippines fairing through this global plunder is this its not well i mean i can tell you talk to my friends and theyre i mean they have you know nonprofits and so forth. You know that the philippines is massively days equate subsidized by their call center i mean it may be their major industry if theres a huge contraction in the u. S. Consumer market theres going to be just contraction and those call centers and its going to be not very good for them almost at about 20 percent of population is in the metro manila area the only upside is they can now see that their neighborhoods and cities just within a half a mile or 2 miles even up to 5 miles because 80 percent of the pollution is created by transportation this big shutdown down a major source of their pollution and finally you can actually see the air they are qualities improved but in terms of this is a sustainable long term thing for them i dont see how its going to work so much of their canniest type just servicing consumerism and that consumerism if it against a contract and our began to be automated through you know phone answering machines that have Artificial Intelligence i dont see where theyre going to make up for those jobs i see the same thing United States but definitely in the philippines there just isnt any there there when it comes to a replacement in response to this kobe epidemic so you have the happening all over the world emerging economies are crashing and there is a rush as a result of the u. S. Dollar which you know makes it worse for these countries because it gives the emperor more power sadly but lets talk about something on the hopeful side in your piece wake up and smell the 3 see is Community Cast and coing so tell us about it its the way in which real value gets really experienced and lived is around real things ultimately. You know i talk a little bit about because i never got my 3 things are im calling is basically gold and silver cashes is the u. S. Dollar still the worlds reserve currency and community i think maybe the most important to us and it has to do with things like sharing. You know timesharing in terms of exchanging work exchanging knowledge that has to do with involve being involved in local economies it may have to do with communal living as people have to move in together and i see that theres been a lot of benefit to that a lot of the benefit will be on the nominate your level very very high boost in terms of quality of living i made the case in my book listen if you have people you can get along with and you move in together if you go out to see a movie or whatever for a walk as it turns out now. Then you dont have to hire babysitters right you actually have other people there and you in your children can play together and if you want to make a meal you know you can just expand the size of the meal you dont have a different as a as a 1950 start as well as everybody having their own lawn and their own riding mower and their own business you know environmentally intensive. Environmentally expensive as well theyre individualized and fragmented so as you begin to bring things together we realize we actually share certain needs and we have Different Things we can get we have a set suma mandarin orchard. Grow here and we give those boxes away and other people have given us the stuff that they have grown so thats just the beginning i mean its a very small example you know its not scalable in many ways but it goes back to what you know charles and i and charles just met and i have said and many like yourself are saying theres going to have to be massive localization and decentralization of the economy because its not serving our needs we need to actually have an economy that enhances our colleague life rather than draining it away the nucular families coming back this all that all that handwringing and pearl clutching about the loss of the family and bowling alone and all that stuff were all going to be living together bake and cookies theres that now i have to ask you this because you said. That people are of course wise to hope accumulate wealth and preserve wealth with gold and silver immense in the dollar he said while still the most liquid currency out there but it is not the dollar is the devils currency it does fuel the empire and it does cause all the problems around the world and so why not opt out of the dollar as people in nigeria are doing iran zimbabwe and in the philippines people are saying you know what the big coin is my path out of hell is my path out of the u. S. Dollar should this be a promote you and charles you spread i mean hes end up because sis were you are you seem to be lagging exists whats happening. I am liking a little bit and i had said that it coined because it its democratic because of its security aspects and its Democratic Base says im in support of coins the only thing im lacking in is how it can be used to actually trade goods and services on the local level for that i think i am in support of decline in the sense that it can be used the only problem right now because we have these decoding can be purchased with actual dollars and these dollars can be basically borrowed infinitely im already worried that Major Companies are eyeing massive amounts of u. S. Dollars and buying a bit quite so that they can control the market theres nothing to stop them from doing that and and if thats the case even though they could be a pretty good hedge it wont be the best on the low level thats why i really really emphasize especially in the near term local currency like cornell has a local currency some people have gotten it together which is a voluntary Monetary Base that allows for goods and services to be exchanged oftentimes without a lot of tax if its just trader bar or its under the 15000. 00 tax rate gifting and i think we should be a really look into the creativity around there in the meantime i think diversifying into decline into. All in silver helps to have this again head into into reality the decline is really powerful because it is the most standard currency in the 1st. Community and it has actual law change so it has a Security System that has a way that its developed which is not heir to simple manipulation by governments very very in support of it for that for local use and every day used its that has yet to be developed i wouldnt be opposed to helping to work with you max in helping to create in the data systems that allow d get going to be split up and then also cycle then and even tied in with local currency so that we can go ahead and get out of the cia currencies are being controlled by very few people or comments about control of the coin by corporations are misguided and but we dont have time to get into that today since ill have to take you on a private session but 1st thank you for being on the kaiser report all right thank you max thank you for educating me. Oh we will educate you and that it did for this edition of the kaiser a par with me max kaiser and Stacy Herbert want to thank our guests he oma yana s. Well 1st name zeus and these got a great essay when the World Markets office fake economic value loses all real meaning until next time buy off. Us as american citizen but he didnt want to talk. And i think. I would vote for a republican i would vote for anyone who does not and has half a brain. Trying. To feel. Like a wife. She can handle or. Divorce because our trouble is elected president and i floated for her and she stand. For election. In our history. Lesson and months to go before the next president ial election. History in the us now. One of the highest Priority Programs how will they vote which they do next. Just some of the questions we put to the america. Theres a threshold at which. Big tobacco realised what they were doing and that they continued to do it they continued to put more and more things into cigarettes that made them more addictive and made me want to smoke more of them and the point im trying to make is that social media in particular these artificially intelligent algorithms are doing the same thing. As the u. S. Economy was booming gaining numbers of people will need hundreds. You can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of those who were not financially equality and the lack of Affordable Housing for a living minimum wage gave many people new choice. Theres been a problem with the city knows turn to make sure and told me stay away i dont know miss. The food if there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become the invisible clubs. Lets just say i just love that the feeling is that all the. People want to make out what why its why i put out the. Clearly hopeful vision but this year our awesome friend so that the us are still stuck at the sole job hoping to do something this year. To charge for. A valuable 5000 i think thats a full alibi ball if i was ever well within one of that kind of a budget that. I. Headlines this thursday the full on fighting between 2 long time foes armenia and azerbaijan enters its 12th day many of had to flee their homes because of the carnage. So as beat the rebirth of the police theres a petition youre with them for love we must raise you know. By cebu. It has been almost 30 years i still see the image of my land in front of my eyes. Germany reintroduces antivirus curbs in berlin daily corona cases in the country hit their highest level since spring. Plus the us Vice President ial candidate is coming Harrison Mike pence face in office