To keep running on the streets for four consecutive weeks. In germany campaigning to name and shame for joining writes. John fund raise on more on our website on the dot com ill be back with the headlines again in just about an hours time in the meantime here on all the International Report and if youre watching us in the u. K. Or audience this boom bust. Hey americas treasure this is the kaiser report wow topsyturvy them in Interest Rates and Pamela Anderson those more about economics than a well known economics editor stacy yes i do want to say theres been a momentous thing thats happened this week and they yield curve has inverted were not going to go into it in this episode but its important to note that that often signals are recession is about to come because it came before the last two big recessions and collapses and we also did see the g twenty were going to get to that in the next episode its all about he said i trump she said obviously the head of china so were going to however look at it a theme that weve been talking about and this is the cantillon effect all the money printing and the inequality rising around the world and the neo liberal economics causing unrest global insurrection against banker occupation this week Pamela Anderson stunned the world with a series of tweets about what she was observing from the ground in france and she said i despise violence but what is the violence of all of these people and burned luxury is cars compared to the structural violence of the french and global elite structural violence of the global elites she must be referring to me a liberal money printing practices that dont create immediate violent impact but its more of a deferred violence you know all these Bank Executives get deferred prosecution as well as deferred bonuses and now we have deferred violence the violence is deferred so they create as the protesters in france are saying. The purchasing power has diminished because all this money printing thats going on and you mention the cantillon effect that money printing in rich as the people on avenue for in paris and shows little is a in paris and those people who are working doing blue collar jobs their person power is eroded and so they have according to Pamela Anderson figured out that this is a structurally violent system that they need to address with quid pro quo violence for violence yes the violence of the cantillon effect is that all that free money weve printed and weve printed trillions from the e. C. B. The bank of japan the United States Federal Reserve bank the bank of england theyve printed loads and loads and loads of money given it to bankers who then get free money with an income bird by the toxic you know inflation so they get it free their Living Standard increases at the expense of those further down the chain of the money supply getting down to them laden with all sorts of debts and inflation and Interest Rates so thats where the violence comes i actually did see that there is somebody tweeted some of the graffiti that was. Painted untagged on the arc de triomphe it had something along the lines of we have beheaded our leaders for less than this for you know less than just inflation but you got all of france you know they whether the men it was really embodied and they had a very robust reaction to monarchy in france and beheaded some kings and then engage in the reign of terror then vented the good team as a way to race through thousands of toffs or aristocrats beheadings right there in plastic concord and they have that memory fresh and when leaders need to speak get spoken to in a serious way they know what to do. She asked another important question and we were providing some of the answer so far in these first few minutes here but she asked instead of being hypnotized by the burning images we have to pose the question where did it come from so of course most people are hypnotized by the images by the basically the images of the consequences of the symptoms of something larger donald trump is one of the symptoms of something larger people are mesmerized and hipness by him a mess n. B. C. Cant stop talking about him these sort of things these images hypnotizes so we that we never ask the questions of why why are people rising up like this what is it about neo liberal economics why did why do why are the voters whether its in england or france or brazil or mexico or the United States why are they why do they keep rejecting new leader after leader why they why is it getting more and more the velocity of rejection of the established Political Parties would is going on and one thing that has happened over the last thirty years is the introduction of neo liberalism since reagan since that sure and were were seeing that the react the violent reaction that youre seeing is delayed from the cause which is the long you know decades long. Economic injustice it is economic injustice a lot of free money and a lot of free assets state assets state Services Like the n. H. S. Like prison systems like the military Industrial Complex theyre all being handed to you know the elites the friends of the neo liberal elites of the friends of political power theyre getting those contracts to run these services for a population and running away with all the you know the great right Pamela Anderson addressing the structural economic violence of this deferred. Inflation leg that people eventually catch up with and then have a violent reaction to any mention privatization schemes there which of course is another way to transfer the assets that were built and paid for via taxes by the population to iran see a class of friends of the central bankers and unless youre going to allow folks to help build those assets whether its roads hospitals schools a piece of the action when its transferred to the private sector then thats outright theft that starts that is that is financial violence structural financial violence and you know this is unfortunately. Not going to end anytime soon because as we say on the show many times you cant say for a ponzi scheme so if they try to rectify this central Bank Violence in any in any significant way then that would that would cause. A replay of the Global Financial crisis which was at that time a reckoning trying to match the the books a little bit there to make the risk and reward but that was not allowed to happen they injected another fifteen or sixteen trillion dollars but they just gapped the balances pal anderson is pointing to their even wider and now its got to the point where people are saying we dont believe you anymore were just going to torch the risk. Ours are going to riot were going to act out in this way and in france of course you know its the mother of all revolutions and leading the way so i also want to point out that you know there are things we need to do as a society and part of this the riots in france started with the tax that has now been rolled back on the gasoline in order to deal with Climate Change but one thing that it happened with that is because the elite because the neo liberal elite out are basically stateless theyre theyre beyond any nation state the petty little stuff of a nation state and you know its beyond what Leona Helmsley here of new york had said about its just the only the Little People pay taxes only the Little People are in fact subject to any nation state laws at this point so the burden of many of the things we need whether its war you know who goes to fight all those wars whos the one who are the who are the americans dying in iraq and afghanistan they tend to be from pennsylvania or michigan or for you know working class states. Who are the ones that have to pay for the disaster of Climate Change its the poor its the people stuck out in the rural areas and things like that so there is economic injustice that sort of terms as well and the trend is not going to reverse anytime soon so thats why we have talked about the global insurrection against banker occupation for the last ten years or more and its gathering pace you dont think about cairo and the revolution that happened there was also result of purchasing power collapsing into the food as a percentage of Household Expenditure went up past that magical sixty percent threshold that almost always throughout history triggers a revolution so then i want to turn to paul mason former economics editor of the b. B. C. And very left wing and now. Hes looking at what happened in spain this past weekend and that was in the end a looser reason they basically voters elected to many seats this party called vox which is far right and he says spains far right turn shows the left needs a new strategy to defeat fascism since the one nine hundred eighty s. Two generations the left i believe that the main enemy of social justice is the neo liberal elite today we have to accept that is no longer true the main enemy of social justice is people who would drown refugees who are slandering muslims as paedophiles and who would as just for starters in their worn feminism criminalize abortion so hes saying that we need social justice forget about Economic Justice i said to him that you need Economic Justice first this is about Economic Justice fascism he actually says in his article that basically just ten percent of the population is always fascist in their fascism blah blah blah but my. Saw on this and ive brought this up before you have to look up a study called monkeys reject unequal pay by Sarah Brosnan and frans de waal and the fascism in that moment comes with the economic injustice so that the study shows you give the monkey a cucumber the cucumber is pleases the monkey the monkey eats it but then the neighboring monkey gets a grape which is much better ok we all agree and when that monkey the first mike you got the cucumber sees that they go ballistic and they resort to violence they start throwing the cucumber is like nothing satisfies them and they get really tough i think thats what were seeing at this moment is that were seeing that a certain select group of people are privileged by the politicians and the Central Banks theyre giving great and were we keep on being told like arent you happy with brioche i. E. The cucumber it shouldnt isnt this good enough paul mason its amazing to me because hes saying the left is failing so they need to go toward the center and braced miller and of course weve had the experiment its called tony blair and bill clinton. And it was called the third way and what were. Seeing is that they once you take that step toward neo liberalism you become neo liberal there is no happy medium there is no third way theres only really neo liberalism and in this market environment and own the penitentiary right those are the two choices for people the thing about paul mason is that hes saying that the left has no other alternative because a lot of two schools of economics are drawn from marxism keynesianism ok what the left needs to embrace if they want to truly restore social justice is to embrace the concept of hard money only through hard money can the left be power pursue with the. Right you need to have hard money in the economy thats the problem is the neo liberals have access to infinite debt and everybody else is has a limited credit saxe you can borrow money zero percent Joe Baca Donna to try to card debt seventeen eighteen percent or higher payday loans two thousand percent right so the Interest Rate apartheid so lefties need to embrace hard money if they want social justice well take a break well be back after this break. You know world big. Lot and conspiracy its time to wake up to dig deeper to hit the stories that Mainstream Media refuses to tell more than ever we need to be smart we need to stop slamming the door on the back and shouting past each other its time for Critical Thinking its time to fight for the middle for the truth the time is now for watching closely watching the hawks. Is finding this out the need. Arise out of the power but i. Am going to. Break. The regulars on either side the most the most difficult to thump and the as if i knew it was you tell a million. And write down the bank call for the right guy bayswater chemical eyes and hands out of this is going to that he would develop a new treatment in Time National mafia know that these industries out of polluting your dissenting ignore the ones that type and most of them live even those and the mother of them like me into the last game of this. Welcome back to the kaiser for imax keyser its time now to turn to kate long twenty two year veteran of wall street whos now leading a leading voice in the world except the currency were going to do two cycles of tape the first is about whats happening in wyoming but first cable how did you get into this whole crazy big going thing as a wall street person i discovered a quote in two thousand and twelve grew up in wyoming born and raised undergraduate there then ended up on wall street and discovered through libertarian circles Austrian School economics circles in two thousand and twelve so well lose i mean theres a lot of different pieces to the big. You know incentive model if you will what was it that really drew your attention to it that the penny dropped like a hot well this is money with no counterparty risk and all currencies have counterparty risk so i immediately understood that but it wasnt until a little bit later that i understood that this is a superior Settlement System for settling Financial Transactions and actually would solve a lot of problems that plague the existing Financial System that make it frankly unfair to mom and pop investors and unstable early so solves a lot of wall street problems like on wall street so thats why steamy diamond so this separately against it i mean to solve problems well thats a good question and in fact actually if you look under the hood theyre not really that against it at least at least certain certain folks are wall streets not not unified in its view clearly youve got fidelity and backed which is part of a Sister Company to the New York Stock Exchange that are getting into it and number of hedge funds got into a pretty early and its the old traditional investment banks with the exception of Goldman Sachs that are that are generally not moving very quickly on it ok well old get it back in a moment but lets talk about wyoming because youre a big part of who helped pass the bill but cooling bills and legislation in wyoming what exactly has passed twenty eight to what could pass into law very soon there were five bills that passed and were. Or signed by the governor in march of this year and weve got six more that are officially so called Committee Bills they just made it through the Committee Last week and essentially its designed to make wyoming a haven for blocked change technology weve weve clarified the money transmission laws we clarify theres no tax on cryptocurrency in fact actually when we have no income tax anyway and very very low taxes sales taxes property taxes etc. But we clarified that there is no tax on cryptocurrency in terms of property tax so that was one of the bills we had we also were the first elected body in the world that i had identified that utility tokens were not necessarily securities as long as they meet specified criteria in wyoming those bills are already law and now were aiming to solidify the lead that wyoming has by solving some real problems a couple of the big ones are people in this industry are considered a hybrid this whole industry is considered a high risk industry by the f. D. A. I see and so the banks in general are shunning the whole industry and thats our signature bill for this year we we actually have a lot of opposition to the to the bank bill from the Banking Industry last week and had a surprisingly strong result its not law yet weve still got a ways to go but this was an important hurdle to cross so you know from wyoming yes and new warnings from wall street and so you kind of like patients zero theyre going to get this whole thing going and its an interesting match because loaning it is a very independent minded status and you know because as you point out its came out of the Libertarian Movement etc so it seems like a good match in a certain way to capture the guise of a certain. Individual is islam in america etc is that a fair statement it is a fair statement there is a legislator there named tyler lynn toler who should be on your radar screen someone donated bitcoin to him. I think it was in two thousand and twelve to his campaign and hes been a big supporter it wasnt difficult to put these pieces together i certainly dont take credit for this there were a lot of people for whom this touched a nerve at the right time and it was interesting when we got the money transmitter bill passed last last year that allowed the coin bases and the circles of the world who had pulled out of wyoming in twenty fifteen it allowed them to come back into the state it was i believe the son of the president of the senate or nephew and then also one of the majority leaders in the house had a son or a daughter it was it was the next generation that was pushing the legislators to fix this problem because as you know this is this is a there is a general generational aspect to two blocks in technology and you know once the ball got rolling it wasnt difficult to put the pieces together theres a bit of a competition globally to be the quote bitcoin switzerland you know that people want to put ricos make it put a stake in the ground in malta Different Countries different territories or sounds like wyoming could it is in that race absolutely so ok so it could become the destination for this industry and how much of the industry now i mean what are they you getting a lot of folks from california for example now moving into wyoming is that is there a culture clash well its a good question so far no there havent been a flood gate of people moving into wyoming i think a lot of wyoming i dislike that just find they dont like the traffic and the crime and the politics of folks coming from california or colorado necessarily but but yes there have been some people moving there theres been a couple of pretty high for profile folks Charles Hoskins and Just Announced last week hes moving his company from hong kong to wyoming done oh yeah yeah. Lets talk about these banks for a second so you mentioned there was a little bit of resistance on the banking but you know. So you want to do a big clean bank so what is a big going bank tell the audience well this is a plain old base not actually a big quake were calling it a block chain friendly. Its a plain old bank except its a one hundred Percent Reserve Bank and its therefore because its one hundred Percent Reserve Bank it wont be able to lend but it will specifically serve this industry this is been a problem. Just basic Bank Accounts for block Ten Companies have been a problem just not even touching cryptocurrency plano cash i want to make a very clear this is a plain old cash bank its just one hundred Percent Reserve Bank thats designed to specialize in serving this industry and as you know this industry of course has higher now your customer and n. T. Money laundering standards that it has to comply with ive written in forbes dot com i think the Bank Secrecy Act is unconstitutional but right now its the law of the land and so everybody has to comply with it and so this industry i think has been shunned by the Banking Industry for basic cash only Bank Accounts precisely because its a higher risk industry and there was some powerful testimony from the trade association the Digital Asset trade association that even they lost their bank account even though they were going to be handling cryptocurrency so just a bank as a utility just a plain vanilla bank plain vanilla panel and so it will bank this industry and it has a shall issue clause in the bill a shall issue yes were borrowing that from the from from firearms legislation there is a shall issue explain this clause in the bill that is long as the customer meets the know your customer and anti Money Laundering requirements and as long as the bank has capital that it shall get a bank account from this bank oh ok so i mean it sounds like it could be an economic boom for awhile and so they would be like you know the chamber of commerce or yeah bring it on we want the business is there some reserve bank in north dakota as well not everywhere of there might be but yet the four reserve banks there are there are not very many of them there was one thats Getting Started in connecticut thats just trying to arbitrage to the feds Monetary Policy and thats not what our bank is doing but weve been watching that one pretty closely because the fed has has shunned. And that particular bank theres been litigation over whether they can get their master account weve had great conversations through the state of wyoming where the Kansas City Fed which is which is what banks wyoming banks and theyve been open to this idea they recognize this is an issue the block Chain Industry is a Legal Industry and yet its been shunned on mass by by pretty much every bank out there in the United States and of course in the world as well you know well i mean is it fair to say that this is a legacy industry and they dont like the upstart they like this competition they dont they are protecting their turf is kind of a turf battle sure in is that true and also what is it about i mean youre a veteran of wall street twenty year veteran of wall street you see plainly the the attributes of the benefits of this technology and yet youve got another group of legacy economists like the Nouriel Roubini and the paul krugman i will walk by nuria oh your blood im ok many people what are they getting wrong about this what are they missing i think they theyre theyre keynesians at bottom and they and they believe that that deficits have no consequences and that we can continue to borrow and as long as were borrowing from ourselves it doesnt matter though thats essentially the basic keynesian argument and of course we all know that thats not true at some point there will be limits to the amount of debt that we can continue to pile on to the economy and this is whats making the Financial System unstable at bottom so sound money its described as the hardest money ever invented in safe dana looses book the coin standard aspect book decentralized and global central banking so you would fall into that camp that this is hard money and this is an economy needs to run on a sound money basis and you cant run an economy on a debt basis and this is going to china but but the whole growth of the globe is based on debt creation g. D. P. Is based on distribution so if we go back to sound money if the top. The wrong measure gold going theres going to be winners and losers and a lot of losers and how do you prepare folks for that day of reckoning what do you whats the how do you soften that message up because its going to be a harsh day of reckoning when it comes to the safety and ive had long conversations about will it really be harsh or will it really just be that something so much better comes along and people naturally shift to it we dont know the answer we cant predict the future and and i do fear that there is going to be. Such instability in the financial industry that its going to be a wild ride thats why personally i understood from almost the moment that i dug into big quine really dug into it that this has historical significance its its right up there with gold as inflate as a hedge against that instability in the Financial System because its it has no counterparty there is no one issuing it who can default on it or who has the ability to to just inflate its value away by issuing more of it so you make well once again to just turn referred to your experience because its expensive and its very high level i mean you ran Morgan Stanleys pension business and now youre trying to i guess to extend to build a big coin related business can you talk a little bit about that well right now im purely working on volunteer projects in my beloved native state of wyoming so im helping to bridge this new industry which needed a home and like you said wyoming you know if it like a glove philosophically they needed Economic Diversification the coal industry of course is is on its back unfortunately and also why only had great Building Blocks there the university of wyoming was already teaching about change and very importantly wyoming invented the limited Liability Company in one thousand nine hundred seven so it was already. One of the top three states for new business formation anyway lot of a lot of businesses form in wyoming its got tremendous property laws for limited Liability Company i say well where augusta most of that is delegates most of it they stole wyoming lead and frankly wyoming would like it back and thats what that is this is part of the strategy of getting it back you know its interesting i looked up delaware they are charging two hundred fifty thousand dollars to almost two thousand of their largest registrants just for the privilege of registering in delaware frick that exactly. But this up in a second segment if we can im going to sign off now and it will pick this up in another segment and thank you for being on this segment my pleasure thank you and thats going to do it for this edition of the kaiser apart with me max kaiser stacy ever like to thank our guests a long bitcoin honest to new or visionary if you want to catch us on twitter is cons report and so next time. Yemen and the politics of denial and deceit the trumping ministrations continued support of the saudi led war is morally indefensible and strategically counterproductive blaming iran for the humanitarian crisis in yemen only ensures more suffering this time to senseless conflict. Yes yes. Yes