An extra blade but fatalistically and we see this time and time again so the us. At any moment they could get off this path in the camp of walking into the buzz saw that make conceivably but fate is drawing them to the blade you know we had Aristotle Plato socrates they understood the man right they understood what tribes us and we always tried to the buzz saw thats the way powerful people are powerful nations do it they just go straight into the buzzsaw theres no other option they can just like kindly walk off the stage you know its just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to fatalistic and unnecessarily and thats what makes a tragic speaking of tragic just look at that chart this is our deficit numbers plunging here it is the deficit serves the us record it is widest budget deficit in fiscal 2020. Since the 2nd world war that was a child she was what she was a massive global tragedy at the end of the last empire of the British Empire and you know the rise in power at that time was germany and the and the us but they decided to fight germany right in the u. S. Went into massive debt to win world war 2 it was a kind of a gamble and its like amazon went into massive debt for many years to become the worlds biggest retailer and it paid off and jeff bezos is the worlds richest man but this time america went almost into similar debt and before its all over probably equal if not more debt but without any payoff theres no way that there will reap any reward to this because they are hauling themselves out after world war 2 the us was intact the rest of the world was in shatters here the us is in shatters and the rest of the world is on a relative basis in different layers and levels of being shattered and it becomes kind of a battle of the most shattered and in that battle the us has done necessarily got the best poker hand its mazing that to me that the timing of this new Bretton Woods talk comes at the exact same time debt levels in the u. S. Work where they were during and just after world war 2 so when you get into those huge debt levels and you need a reset you realize your paper funny money is no longer valuable you need to appeal to the globe now we were essentially americas tapping out or tapping out or saying we need to reset the shining city on the hills about to go bankrupt please help us please help us so theyre going to go out of the global Bretton Woods to play this massive geo political financial poker game and as weve said on the scam show before the u. S. Is holding not a great hand everybody was and after world war 2 but mostly to say so everybody owed the United States money at this time when we enter this 2nd Bretton Woods what we see is their videos china money however i think china understands are not actually going to get paid back like the Marshall Plan loans were paid back you know the last them only just paid back. In the last 2 or 3 years but the china knows im not going to get paid back thats why i think they built up a huge amount of infrastructure during the past decade especially so the original article mo hussein says that u. S. Budget deficit tripled to a record 3 point one trillion a fiscal 2020 spending soared 47 percent in the year ended september 30th in this case we have what the you know the equivalent of world war 2 is this pandemic and its cause a hit to global economies to now not as many deaths obviously but it has hit production and manufacturing capacity and with that you know we also at the same time have the u. S. Election and Goldman Sachs saying this sell us 1. 05 silver investor should look into selling the u. S. Dollar they say and buying silver into the election according to 2 reports from Goldman Sachs there is a growing risk that the u. S. Dollar will plunge to its 2018 lows as democratic candidate joe biden continues to extend his lead in the polls prior to november 3rd so they see that a fight and win would be bad for the dollar i guess they assume a resumption of the china relationship joe biden was quite instrumental in the whole w t o bringing them into the. Opening trade relations with there and you know allegedly his son also has big dealings with china so they just see a more favorable relationship with china and therefore a continuing decline in u. S. Manufacturing and expansion of the deficit and perhaps m. M. T. In more money printing sort of situation for a role dont blame the pin for the bubble right so there was a bubble building in the u. S. Economy the Global Economy for years now and the virus current virus is potentially the pin anything could have been the pin beginning of this year we outlined 6 or 7 things i could be the pen to pop the bubble i think im not sure bambam a cause on that list but the world doesnt really matter what the pin is the bubble could have been. Eased in and deflated long ago but it never was and so now its popping and Goldman Sachs is saying well you know this joe biden when outcome could cause a crash on the dollar maybe maybe not in terms of relating to the biden whether hes in or not doesnt matter actually whos in the white house the the fact is that the dollar is toast and were garble so whos in the white house they all see silver rising becomes of solar power they believe thats going to expand massively in the next 10 or 20 years but on top of that you know if you really look at this the slow start of greek tragedy unfolding you dont have to look at any sort of partisan news or whatever any spend just look at the charts yourself and see what happened in 2009199320 extension 01 not only do we have the dot com collapse but we also had the commodity futures modernization act and the repeal glass steagall which was those 2 i believe were crucial to allowing the china into the most favored nation status in 2001 just after 911 so all of these things happened at the same time we got to export our manufacturing it domestic elites no longer needed the workers they didnt need productive wealth in this country because of the commodities futures modernization act and the huge explosion and derivatives that followed that so i think all of those go together and the tragedy has been unfolding for 20 years weve seen this coming right and what so in the tragic greek drama of the character flaw of the protagonist is that they might be greedy or full of hubris and so they are inextricably tied to this tragic ending and weve been saying for years ok based on the greed of america its an Economic Policy its trying to cure wealth and income gap to stop trying to be egalitarian its just greed greed greed greed dressed up as Something Else which would have a tragic ending and now the buzz saw of tragedy is fast approaching and the us cannot do anything extricate from this path of destiny of the fatal destiny that it that it is then our. In extra could be tied to therefore we must understand that the only way to find solace on an individual basis is to think of ourselves as having individual sovereignty instead of being tied to a sinking ship of a nation state but you never know our truth is going to come from you now and thats why im against all these things that are revisionist in nature because you never know actually when matter what the surface there is some underlying truth that can be useful the truth is that the electorate me the bad decision after bad decision partly because were only ever presented with 2 protagonists to choose from to rule this decline into the end we only ever had 2 options and of a nation of 340000000 and sure enough we you know as i think was h. L. Mencken said that one day the people who merican this great democracy will choose the moron they they deserve to rule the country and you know thats what we kind of have these 2 choices of a decline right various abilities and so thats it you know and thats what we have a new Bretton Woods yeah i think everybody outside the United States is like thats why they might be time for a new Bretton Woods and Goldman Sachs is saying dump the dollar theyre actually suggesting short the dollar short to the dollar so theyre saying bet against america and that all of that Warren Buffett stone tragically we knew this when we come i must take a break and come back after the break. Fantastically for you state. Was a pandemic no certainly no borders and just plotting to nationalities. Has emerged we told them with the we dont look like the whole world needs to be. Judged. Commentary classes. We can do better we should be. Everyone is contributing way but we also know that this crisis will not go on forever the challenges create the response has been so many good people are helping us. It makes us feel very proud that were in it together. You know what i mean maybe up there see i dont think about a last picture on many of us that roman not new dorp or. I kind of wear on the. Course of the now i think its higher than our. Members of the africa mafias conways them safe and quick passage to europe but once they. Leave they are enslaved the country tribunal. Will not last some of the libya mama not under you know if this unit can get out in a minute. From the cinquera. They sold the. Lead. On court of the important because the persona. You scabby the normal any. One else chose seems wrong but old rules just dont call. Me new world yet to shape our disdain comes to educate and in games from an equals betrayal. When so many find themselves worlds apart we choose to look for common ground. Secret prisons are not usually what comes to mind when thinking about europe however even the most prosperous can be deceived within the zeros on their work to view houses were our prison was located and the only people had access to the story for investigators sure hell they uncovered the darkest dealings of the secret services but i mean. You graded nor in. Hockey seem a bit sore knee for. Crying for justice on r. T. Welcome back to the kaiser report im max keiser time now to go to simon dixon of bank to the future dot com simon welcome back to kaiser report exactly max right simon dixon theyre not bad going for a new brand new words youve been gone viral with your video breakdown of this year going through the whole thing what does it mean as opposed dollar world is it a bank or are we not Gold Standard of digital s. T. R. Central baghdad still currencies what do we look for you know what i think is going to be a Central Bank Digital currency i think were going to see as we talked about in one of the previous episodes on guys are both the absolute tax on the banks and i think this is a central bank led wolves now and Central Banks are sucking up all the assets all around the world if it taking on too many of those toxic assets i think the i. M. F. Is getting ready to roll up all of the Central Banks into one i. M. F. Central Bank Digital Currency its. The trends is this is what theyve been looking for for a long time so the i. M. F. Came out of the last rites and was meeting in 1984 when they removed the Gold Standard and moved it to a gold dollar debt back standards and then in 71. 00 the u. S. Decided to take remove the Gold Standard and move it to a full shia death based ponzi scheme and so i amassed started losing some of their significance on the plan. We now list is the latest moves of making sure that they get 1st to market with the Central Bank Digital currency chinas being the test bed at the moment but they dont want china to start getting traction around that and so you i. M. F. World bank bank of International Settlements theyre getting ready to put together their one global lud Digital Currency and theyre calling for Bretton Woods 2 so that they can start implementing them. Ruling out another way to look at this is to characterize this as caught a great race that the big reset of course Bretton Woods was the big reset post world war 2 but what exactly is precipitating the need for this big reset im assuming that the global increase in debt has something to do with it simon yes so everyones maxed out on their credit cards to Central Banks to starting to max out on their credit cards were reaching the new you know the new school of thought is all about modern monetary theory whereby Central Banks and governments can just spend money into the economy hands we can have on limited printing were getting ready in england the bank of england already reached out to all of the clearing banks and said are you ready for negative Interest Rates is that going to cause any problems with your technology because were getting ready for the negative Interest Rates and so you know all of these these different trends are coming together and everybodys you know they already facebook trying to get there as out now weve told the Central Banks getting ready should as they want to automate negative Interest Rates automate tax collection or its may surveillance connect the Central Bank Digital currency to you know compulsory vaccines whatever agendas or whatever goals they might have this is really the control that is needed that theyve been pushing for ever since 911 when you know previously laws have been gradually moved and when transfer Money Laundering laws and this really is the Central Bank Digital currency deciding that they can actually if all these banks or even leverage titian if they didnt take enough of that old sick asses and sell enough of them to your pension then they getting ready for banks being able to collapse consumers not using their money but making them download or not download their Central Bank Digital currency and put all these different Central BanksDigital Currencies caring for one global Digital Currency. Issued by the i am asked a Bank International system and some will banks and they want to make sure that dave barry there are a dissenter of that they say with their special during rights im now they want to go for policy right and of course you know ive been talking about this really since 2008 you know theres a lot of videos online maximizer simon decks on various news organizations talking about the Global Financial crisis of 2008 when the banks were not allowed to fail they took all of those debts on their Balance Sheets and they were bailed out by the Central Banks and they were prevented from having to declare insolvency here we are 12 years later and the Central Banks have sucked up all that bank debt as much as they possibly can so the Central Banks native bell out so how do you balad a central bank were talking about and what others have talked about is a 100. 00 trillion dollar or more Credit Facility or Lending Facility and to roll up all that Central Bank Debt into a global Loan Facility and so what youve done is youve dig into it a little bit and youre saying that the s. T. R. The special drawing rights or the even a digital s. T. R. Is not going to work will look like its going to be a global Central Bank Digital current say and well as you point out deposit r. s are not going to be in encumbered or at risk the banks will effectively protect deposits but they will allow the banks this time to throw them under the bus is that correct in that you see that and could you go into that a little bit yes so the banks have been leveraging up like crazy when they reach they try to siphon off as much of that old sick prostitutes to your pension by sticking no aaa rating on it so that they can sell the investment grade. And some of those have been downgraded so they can no longer be sold to your pension so theyre looking at what the next options are while the traditional playbook during the last financial crisis was hold tight spot. Is to ransom by being too big to fail. Gates and a baby ingests take peoples deposits to recapitalise or buying and then issue them some saw its Monetary Policy is no longer working and will close of this and any. Governments around wont have been employed in saying the most aggressive fiscal stimulus is that they can muster funded by a quantitative easing and then the next thing needs a soft thinking about well what if people you know funding the wolds well what happens when the stall actually funding the loans and covering their mortgages im sure all of these packages eventually youre going to get really a safety fluence people can no longer afford their mortgages and we need to saw thinking about new occasions and back. And the easiest way to perhaps need to do that now or see just replace the money that was created by the Private Banking sector as thats that the banks theyve bought new congress and central deposit insurance in s. D. I see no need in the last savings and loan crisis you know that was the savings and loan s l d r e c which needed 150000000000 dollars bailout and what role dawkins f. D. I. C because actually i see is the only insuring less than one percent hold deposits they can any allow one too big to fail to go boss and so they have to pick those winners and they want more than one too big to fail bank there isnt for a whole. S. T. I. C. Doesnt have that and so robs and allowing consumers to news all that suppose its just simply awesome download not stick in the terms and conditions everything that you want to do and they can get that free money they can get their helicopter money. And get that deposit saxony cupboards by this new debt well actually this is a non debt its money. Were replacing its a deed. Averaging mechanism for replacing all the leverage it was great seeing bands are replacing it with these currencies we need these laws youre going to say shit and so you know the next election in the United States is such an important election because your iris can trump all bodies and to renegotiate the future money im. Going to want to in debt that way and now i make children that more significant replacing adult astounded when global Central Bank Digital currencies throughout history its been necessary occasionally for governments and banks to declare jubilee are at that table a are a set and so thats not new i mean thats rather an Inflection Point where a reset and a day leveraging as require a different pair however is that they banks have a way to go about this is saying a crypto currency which is not debt but equity based to protect the positive are assented to leverage the economy so the big question is jail politically the i. M. F. Theyre calling for this new friend in the woods who gets a seat at the table who loses and will gold be a factor simon i dont think goes going to be a shot in the design off the new Financial System i think that if you have enough gold to g. D. P. Reserves in your central bank will your country. Unite since then he says Russia Germany represents in europe trying to certain has been achieved in a small well this is where you get a seat at the table at Bretton Woods soon why have you not go to g. D. P. Reserves to actually be significant now all of the other Central Banks able to stop thinking about well what do we need to become significant and thats where i think were going to saw seeing some of the smaller Central Banks because currencies have been destroyed start to actually think about what their reserve posset saw to be more significant in this upcoming monetary renegotiation and if i were a small central bank id be looking at the only a some match very bad that you can. Make it. Which is actually Holding Bitcoin on your bond and she. We can see Something Like you could see the you dont you know for example you know 1. 00 trillion dollars on the treasury whole why and why its right we could ask nisi influence when these currency was near us to sites around he just believes that his treasury means they could do you make good just. Needs a centralized database that the Federal Reserve or the governments going to have to just switch. And so now what china has long will this treasuries despairing on their gold reserves to get a significance in nice monitor negotiations so i think hes had written so many times that it would seriously going to see these currency wars snoring i did predict zimmerman guys with balls are known far yes jeff record has spent writing about this and talking about this for a number of years there with great accuracy say and of course he was a big believer in the s. T. R. I think your case about this digital cryptocurrency makes a lot of sense obviously a country like the United Kingdom baseball have their gold bullion on a number of years ago and they will be woefully inadequate way represented at the table you know gordon brown most of the gold reserves how the bank of england sold them off so its 300. 00. You know the u. S. Made the right means they come to skate said the gold from all the people that so its a 5. 00 an hour gold supply at 2000. 00 and beyond so its all coming back historically to the to this conversation has been going on for hundreds of years of the 1000 heirs now the 2 principal antagonists in astronomy would definitely u. S. And china u. S. As all the debt china all the debt owed to it year in year thanking the in the one of the ways that the u. S. Can fight in this global currency war is to simply delete that. Debt and it goes away from that Balance Sheet it sounds. Quite you know rather it sounds radical but in that in these days of digital warfare maybe not so much simon you know this is this is currency wars you know you can imagine a few sonorities you know the us its the next election hes been saying this is the trying to buy roots he could actually say how much hes actually wrote you know all these that sends our economic blogs as trying to cool the United States they might want to take it to say that they owe us more trillion dollars pipes or you know in compensation im decile were just going to delete these 1. 00 so you can rationally you know these are the types of snorri sydney can see as we need sydneys currency was right you mentioned democrats terry also said that the us could separately keep the gold that they store for other countries anyway rad time simon dixon thanks so much for being on the kaiser report yes thanks for having me all right and thats going to do it for this edition of the kaiser at par with me max kaiser and stacey however i want to thank our guest simon dixon you know his book 10 years ago banks of the future was the 1st published book ever to mention back line thats right until next time. But underneath no certainly no borders that is the law to celebrities. As it were with the leaders of the world to be. Judging her commentary because this is what. We can do better we should be better. Everyone is contributing to their own way but we also know. This crisis will not go on forever the challenges created the response has been so many good people are helping us. It makes us feel very proud that were in it together. Its sort of amazing country with so many friends in russia and im very excited to be here. I love that idea i think i can do that. Every night i make a lot of money with the millions and hundreds of me. Here is not. A great wall and nobody feels a lot better than me believe me and ill build a very inexpensive like a great great wall. d and just in case youre worried about whos going to pay for it mexico will pay for. It well see what happens who knows jose who knows what well see on the field will be successful. You know what im going to be out there see i dont think about lot of picked on many of us and roman not me and our 4. I kind of were on the. Course if back and i think now i think its higher than our. Members of the africa mafias conways them safe and quick passage to europe but once they. Leave they are in sleeves and they count speech util. Well not some of the libya mama not i couldnt you know if this unit can get it out if. Somebody. From the cinquera mainly out of the they sold the. Leave it all on court of the united. Because the persona that a kid even though its going to be the norm in. The final u. S. President ial debate is only the fathers day this time the candidates might be muted on Foreign Policy and said you know good topic. More trouble for the astra zeneca co but 9000 jobs a Young Volunteer has died and not boxing trial he fought reported cases of wild white. And for weeks on that no sign of forced by the dispute between azerbaijan and armenia openable want to care about the main hall our correspondents go to on the ground. They couldnt take us to the front line and in fact they didnt go either not only because its too dangerous but because the Commanding Officer of that particular platoon didnt want us filming the