The vietnam war most of them were born after 1905 the majority of the population there. Are living costs rarely exceed 2000. 00 a month which is. You know the average cost for health care here for retirees even and its a lot of things are very expensive out of pocket added network all that sort of stuff so he said quote the cost of living is so low its a communist country but if i blind folded you and put you in downtown saigon you wouldnt know it and im going to say that america is technically a capitalist country but if i blindfolded you and put you in downtown new york you wouldnt know it because there is you know the central bank is printing money command and control to keep the stock markets afloat to keep the banks afloat so the same could go back and forth and thats why i think we have americans moving to vietnam also cambodia the article mentions for the cheaper. The better standard of living but also really capitalism versus communism right its an autocracy versus a kleptocracy america is a kleptocracy thats failing and going the way of the dodo and vietnam is autocracy where they have like Singapore Singapore is a country where people have an incredible lifestyle but its not talk or say theres no what we would call freedom of speech but thats true also in america now freedom of speech is curtailed quite severely it doesnt exist in the u. K. In my opinion and i can talk about that on some other time and im sure its very diminished in vietnam as well but you do get a great quality of life well that could be a trend i see Going Forward into the future is that if you yourself are not a citizen and care about the politics or the people running that country its safer in some ways to live in autocracies that you dont speak the language you maybe dont speak vietnamese and you dont care what theyre doing is so you dont have any expert thoughts to express that might upset the leaders but they have a good standard of living of course when you can speak the language and hear what those imbeciles are saying in the white house or in congress or the senate you get angry and you start shouting and thats what gets you in trouble you know in terms of the standard of living i want to look at this story because this is one of the. Most consistent stories that weve covered is are we having inflation or deflation theres deflation in all the bad debts that the bankers throat theres inflation in some things and certainly in the stock market weve seen a massive boom there but this is an interesting way to put it and this is adam tooze and he says the dispersion of price developments in the United States is such that it poses the question of what we mean by inflation remember this guy john rocker old in vietnam and a lot of people on c. And b. C. Are in the Financial Press will say theres no inflation you know the fed cant even get above 2 percent. So whats this guy talking about in terms of standard of living but this is what matters because the red line are all inflation going up since 1907 food and beverage housing wages medical Service Child care College TuitionHospital Services so pretty much all those masses hierarchy of me is the basic needs that you have food shelter Education Health care of course is the number one and thats why the vietnam story while even these people on socalled medicare and were supposed to expand medicare for all theyre having to go to vietnam because even with despite being on medicare and qualifying for medicare theyre going to vietnam for cheaper and all the stuff like shoes and toys and household furniture are down so you can be a well dressed homeless person with a nice sofa you know on some sidewalk in San Francisco with this sort of chart and data its not really inflation or deflation its a bifurcation so these terms inflation deflation they tend to hint at the connection between the finance economy and the real economy and sometimes the finance economy gets out of hand and you have crashes and sometimes the real economy gets out of hand then you have stagflation because wages are too high but sense 2000 and getting even more pronounced since 2008 we have 2 separate economies there bifurcated theres the privately owned Central Banks who print money for private the top 110th of one percent of private citizens and then we have the surf class or the neil feudal class and these 2 dont interact anymore so inflation and deflation interaction that theres a theres an organic economy and sometimes you have forces of financialization that are checked by wages etc but thats dead thats dead since Alan Greenspan destroyed the Federal Reserve mandate and targeting only the stock market and. Donald trump also his only metric for success is the stock market and thats all driven by money printing and it all goes to very few people in the private equity and Hedge Fund Business doesnt trickle down anywhere because theres no connection its 2 completely separate worlds down america its bifurcated well speaking of bifurcation i do want to know and i dont have this headline right here but over the Christmas Holidays the new year there was a story that will probably get overlooked but that is that several banks including j. P. Morgan and h. S. B. C. Allegedly were listening in on bank of England Press conferences via an audio stream sold to them by a 3rd party service. The rest of the world was looking at the video story they had special access the audio stream and if you know anything about streaming it obviously takes more time and energy to compress the video so there was a 6 to 8 2nd delay where all these banks for years at least one year the bank of england has identified but up to 3 years as many experts who in the 4 x. Market could see what was happening that something unusual was happening for the past 3 years so we dont know how many millions of dollars maybe billions were front man and taken from the rest of the economy thats a good example of bifurcation in the legal system so in the banks whether jaysus b. C. And others who are stealing money and caught stealing money there is no rule of law that applies to them because they position themselves strategically important to the economy and as eric holder did during the holder doctrine he laid out the case for banks being in new and from prosecution and thats been with us now for a long time other folks that live in the other country the other world stealing is still a crime and they go to jail but that doesnt exist now because the laws have been bifurcated as well as the economy as part of like front running our other series here this 12 part series where were looking at the big Economic Issues this is. Directly part of this story so you have the obama and holder doctrine where we had to look forward not back dont prosecute these banks and in particular they let h. S. B. C. Go with the crimes they kept on finding j. P. Morgan never sentence anybody to prison for any of the crimes they did and here you have this nonstop thing and you know we have the situation now where all these millennialism generation z. Want a billionaire tax they want to take some of this back these ill gotten this odious wealth and then you have somebody like Mike Bloomberg a billionaire part of this whole wall street sort of front running sort of lifestyle where they have the data 1st data so a poor and even 5 seconds gives you a huge advantage over everybody else well the billionaires enter and say dont take our money we got this fair and square youre just jealous youre envious well i think a lot of people think its all about a rigged game and you know Bernie Sanders has articulated that the most even saying its a rigged game Elizabeth Warren also says a rigged game rigged game rigged game and thats the big issue i think looking forward into 2020 if you recall George Osborne it was the former chancellor of the exchequer in the u. K. Was caught red handed along with h. S. B. C. Essentially overriding americas constitution they were attempting to rewrite our constitution in real time youre talking about that letter he sent to eric holder eric holder was about to prosecute h. S. B. C. Then there were some strange letter that George Osborne but in terms of this like thats what were saying is that there is a bifurcation going on and i want to point out that you do have a new pen on your vest there beyond bitcoin and that is the reverence go on because that of course is your clan maxwell clan motto rever esko will rise again will rise again and that could be you know with brags that now happening that you know a United Ireland and an independent scotland Going Forward so hopefully well. Be back there take your castle get my Castle Castle castle is ready to be retaken the maxwell clan currently doesnt have a leader im putting myself forward as to be the leader of the maxwell clan our ongoing multi 100 year conflict with england scotland this is never been easier now to walk away from england to be independent from england and im going to be more of 2020 my goal is to lead the maxwell clan in our separation completely from england of course our lives can be reunited the 6 counties in the north will be going to be attics essentially by the republican thank god for the Northern Ireland because they dont want to be part of that dump called england and i want to quickly do i have democrats need to accept these 3 to use to be a trump a 2021 trump didnt steal the 26000 election to the economy is doing well even for the little guy 3 stop denigrating the voters i think that one is the most important this is from by the way its from c. And b. C said the Financial Press in america saying youve got to stop calling the voters stupid thats one of the cardinal rules of politics if you want power stop calling the other guys voters imbeciles deplorable. The russia gates has cracked Rachel Maddow by the end of the year will be hanging out with alex jones somewhere in austin texas were going to take a break and when we come back well have much more coming your way dont go away. Oh i love it. And were going to fulfill the repeated promises apologise to the people and promise to be you know weve all pots to. Be ready for a. Pretty good burka now you want to 1st crack that. No. Longer. Bald. 5 is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation for community. Are you going the right way or are you being led somewhere. Dialling. What is true whats his face. In the world corrupted you need to descend. To join us in the depths. For a mate in the shallowness. In the United States president ial candidates debate the future of the u. S. And the world. But dig into the burning questions of this election cycle. Every week. Student. Was money. And. Catch up with. Exclusively. Welcome back to the kaiserin for imax keyser time now to return to our conversation on that fire stein is the author of plan a positive but on the show many times hes an insightful guy hes a wall street or he knows stuff and thats welcome back great to be here weve been talking about golf for a while to morning 19 its break it out man its up its a new all time highs against currencies all over the world almost every currency all over the world except the u. S. Dollar is the 2020 there that gold had to do all time highs against the u. S. Dollar mitch i think the Central Banks are destroyed valuing property markets the bond markets stock markets you know what its going to look at is youve got to look where other people are looking to find value in the come on you space is not nearly as much in a bubble as Everything Else in commodities are real assets that you can trade people need. For money see our currency in the next decade as its going to lose its luster us dollar gemini and in the next day 20 or so thats my big prediction and i think were going to be you know that you know make thousands of percentages on the hyperinflation and we could have the venezuela at a high there inflation rate is about 10000000 percent or something ridiculous like wow i mean this is what happens when you when you nettle differences on a nice play around so metals im very bullish on you know i think in time some substantial. In the fires you should pick some up everybody should have is as a part of their portfolio i think that right now. Is overvalued especially the dollar when we next crisis and its people will flock to the u. S. Dollar is a safety trade in safe haven and maybe in the bill markets once more to the last straw for the dollar in the next and theres Going Forward looking for a nap. And after the recent election in Great Britain we saw sterling is the worlds worst currency pump up 135 in it so well off the one 3rd i think sterling will go below one under the next you know in the next decade i think sterling is probably a good short on any i mean i think you know there is no value in it yet its increasing so i think sterling is a very problematic for instance the euros foam out of we will see a meaningful evaluation with chinese one in the next and right i couldnt agree more and thats why im buying robles you know they are set for a huge move on the upside down or the commodity play and 2 they work around all the sanctions and the brilliance of manager at over there and let me ask a question here is kind of a thought exercise goal becomes a prized asset because of it scarcity value and as the paper money loses value all over the world as youve just described it so the commodity play would it be kind of like a tag on with gold in terms of its scarcity because the economy doesnt look like its going to grow any time in the world as a matter of fact the Global Economy is probably going to crash so commodities are is it a is it a valuable this is a good play because its going to because of the scarcity value of commodities not because the world is an economy is growing in any sense match earnings peak in in the stock market in 2014 so you know its not markets when trading on stock buybacks their all time highs which is its a ponzi scheme that so you know commodities are real value you can actually exchange them for something somebody needs so that means that the. Amount the currency or for one or you know its hidden and exchangeable for some teams of the last old silver aap were oil or a basket of those assets. When you u. S. Dollar is the u. K. Is like us notes 250. 00 trillion dollars in debt not. Realizing it its going to be as well goes everybodys been there for the exits and you know once we follow that it will know that self so what the market is and before i. Dont ever want something at the top market dont revise them or is not an adage to be followed in these markets and what we think were just complaining momentum the most want some get slaughtered or for balto who is really bad all to you in gold and selling selling selling you know one outlier move though your profits in a couple hours that people are still remember its an asymmetric war that people of the top were making in the last are heads to other must make a list 2 or 3 percent even if the market were to crash 50 or 60 percent but the average person is on head and they would bear the brunt of a 50 to 60 percent live down that lets change gears and lived as a markets here in japan you lived in japan for many years match you are one of the 1st guys on wall street to talk about sushi and make it popular i remember that now lets turn to their economy thats been falling for 30 years exports in 2019 were down 8 percent whats ahead for japan now the nikkei 22530 all time high for 30 years ago yesterday max and substantially so what would you having seen one since we last decade back to back to back in japan or Central Bank Policies that have while basically tired now they own most of the e. T. S. Out there so what does the west learn we learn nothing oppy were turning to japan japan or for case you know what im saying is the past 7 or 8 years nobody wants the ones that we are replicating sack with squeaks they meet in 1989. We will meet in jerry up near 40000 and then drop below 10000 we havent even got near those levels in the road we need to solve no matter how much fuel they do it doesnt work the crude nasty keynesian economic theory if it fails you dont keep doing scenes in the fails as einstein said insanity in same thing over and over expecting to achieve a different result were not going to get a different result all the central bankers should be fired before those are is a fight and to protect the banks and works on their behalf to screw everybody else thats basically our. Informant and sharpen up its going to be right there when they take the power of the federal and said now once when they Climate Change it will look at what work on you hes left the bank of england is doing is now saying that everybody has to be fine where you cant invest them in fossil fuel is hes going to actually run a un vision of Climate Change we construct a quote at will thank you and the rand created the biggest. House well built in canada and then he moved to the bank of england where he created the 2nd biggest bubble is a bubble or lower syria while hes got it longs for gas along the entire time now is moving over the fine chain which is going to be a prevailing trend in the next any yeah Climate Change staff in sa no ones going to mess australia right now now and the government there to begin with are still far away and now that its burnt to a test nobody is going to go there anyway because Climate Change it doesnt really happen and ever so lets continue on match your pants deflation continued for 30 year despite basque land venting quantitative easing and if so if you are kuroda o