You are no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi else asked im aware of it. And. Reject all you like. You can never forget maybe you can now auschwitz was really like to be inhaled because you would never believe it want to go to as a copy of a course for 32 years of filth and be. Heard of it it all seems so logical for why you decide to make it right when i get out on the farm saw you dont want to take my song to their next meal so he can listen and hopefully bless my heart hurts me. Max kaiser this is the kaiser report you know interestingly enough we live in an age when the plumbing of banking is becoming more transparent people are now aware of how actually these big banks work in Central Banks and its quite fascinating actually because its the root of all fake news comes from fake money if you want to get rid of fake news you have to get rid of fake money more now later stacy actually you said that many times over the past few years and i did see that ron paul recently tweeted something along that lines that it was the fake money from the fed that is creating fake news and fake asset prices and things like that but in terms of whats happening right now one thing that you and i always talk about kaiser report since we began over 10 years ago now is we talk about gold we talk about bitcoin and a lot of people say oh you cant eat bitcoin and you cant eat gold in and theres an argument against it but here were going to look at some headlines guarding the individual economic sovereignty that is granted to you if you own your own wealth if you own your own assets and their real assets because not your settlements layer not your money and this is responding to a wall street journal scoop u. S. Officials warned iraq that it risks losing access to its account at the new york fed where International Oil sale revenue is kept if it moves to expel u. S. Troops so iraq is theoretically an independent sovereign nation and they should be able to invite other militaries in to help them fight somebody or whatever and they should be able to expel Foreign Military troops should they wish them not to be there while the u. S. Is saying should you choose to expel our military bases we will seize your assets at the new york fed you know i mean this is a fascinating and people are starting to see were. Really how the world works and how the american empire works and how the empire of debt some of called it works it all clears to the new york fed and so these countries in the middle east can throw hissy fit and throw themselves on the ground and cry and scream and they can do all kinds of stuff but it doesnt really matter because everything goes through the new york fed and member the 2008 crisis was resolved through the new york fed when Timothy Geithner was in charge and every time theres a crisis anywhere in the world pretty much its all resolved through the new york fed the new york fed has the ability to censor if you want to that they want to cut you off from the Global Economy they can do so at the flick of a switch because sense the 1940 s. All commodities are settled in dollars ever ever since the 1970 s. And the emergence of the petro dollar everything all oil all energy is settled in u. S. Dollars all commodities are priced in dollars and settled in dollars and all happens at the new york fed and everyone around new york gets a lot of money because they are in proximity to the new york fed and thats the way the world works of course the new york fed is the one in charge of the repo interventions at the moment they do say now that thats going to last through the tax season because they have another new excuse it was supposed to last for 24 hours and then 48 hours and then 72 hours then a few weeks and then a few months and now its going to last until at least april they say and we also covered back in may remember representative brad sherman of california hes a congressman from out there he said about bitcoin that big point we must stop it now because what theyre trying to do is replace the new york fed for exactly this sort of thing is what he was forecasting is that we need to control the settlements layer and the u. S. Dollar is the settlements layer when people say oh you know the you know oil is priced in euros and thats a threat to the dollar thats not the threat this threat is the settlements layer so all trade for oil has to settle through the new york fed and this is how theyre controlling that all your you cant. Yes you have no sovereign rights unless you cut in as the middleman where the middleman you have to we have to approve of everything so that is why we talk about bitcoin and this is an exact lesson and what we were talking about for the last 10 years right this is why we talk about bitcoin exactly because it gives countries and individuals a way to opt out of the censorship that happens on the subtle middle layer of places like the new york fed and you know personally i have no idea why these countries who are being censored by the new york and who are being subjected to the empire of debt otherwise known as the United States of america dont simply cross over and switch to bit coin and achieve sovereignty im sure they have some sort of plan they take a while they dont move as fast as the individual can and thats why the individual is actually at a uniquely positioned place at the moment they can move fast for the nation states can or Central Banks and governments can say you can get ahead of this this the thing we see coming because remember again you talk about censorship you know there are all these laws and stuff like that introduced its always about the bad guy were just you know these you know the patriot act is just to stop bad guys like bin ladin who does it end up like theres been almost 0 application to bad guys like bin ladin and who gets caught in the net all these good guys like aaron swartz for example he gets caught by all these bad laws that were meant for bad guys but it ends up like aaron swartz who was you know driven to suicide a few years ago just passes the anniversary is of a suicide just passed and look him up and youll see that here you know when brad sherman said last year when he warned in may that bitcoin was after him like basically replacing the new york fed he said we dont want iran our enemies see is this play here theyre saying were going to cut iraq. Or we occupy the nation were supposedly some sort of ally at least theyre occupier like you know theres a Certain International obligations to if youre occupying a nation but here theyre saying were going to cut them off from. What trump said was that the new york fed has Something Like 30000000000. 00 i think its 3000000000. 00 and carrying a 1000000000 men ok and he said they would owe him 30000000000. 00 in total if they 3000000000 in cash parked there yet and he says you owe us 30000000000 and so hes simply going to cut them off and take that 3000000000 seize the 3000000000 and slap him with a invoice for 30000000000 like develop a casino in Atlantic City and he gets all the contractors to build it and says im not going to pay you i think its roy cohn a lawyer affairs at the time to hire a leg breaker like ray donovan they go strange things out right i mean thats the way the world works at the moment and the new york fed is is little private kitty its right downtown from where he has a big office well and its beyond that because its like he built that casino in your backyard land that you own and youre like wait who told you you could build a casino on my land he said give me 30000000000 for it and youre like ok i you know you give me 30000000000 this this should be the way where you talk about iraq yes right he just pulled the number out of thin air that this is what you owe. Any all selfrespect new york developer would do yes somebody in times square would do that to you they shake you down heres another story i found this interesting because it was from the Guardian Simon jenkins wrote this and its really kind of fascinating because its more Mainstream Media so this is what hes looking at what is happening in iraq and iran and all this conflict going on and he says Donald Trumps rant against iran is the how of a dying empire all empires stay there declared purpose let alone their welcome all and massively the operative word is all. Be they roman napoleonic british or soviet all or vanquished not by superior power but by selfdelusion and geography the British Empire had neither the right nor the need to invade far flung parts of asia and africa it was defeated by them the us has claimed the right to intervene in theatres as diverse as south america the far East East Africa and a portfolio of Muslim States justification varies from retaliation and deterrence to selfdefense and the instilling of democracy again this is something that you and i have talked about for 10 years we saying its not just uniquely american its happened to every empire before and thats were just saying history usually repeats you know they have their own sort of rhythm going on as they deplete deplete their power via hubris they all get this point they all get this thing of like you cant you see new york fed were going to take your money were going to cut you off from swift germany you cant do that germany you know you might be an economic powerhouse but you know listen to us what we say goes you know they all end up like that its not uniquely you know antiamerican or it just like it wouldnt have been anti you know poli onic or anti roman are anti british or into a soviet it was like this is just the inevitability of history it happens every single time for the exact same reason that i get what Simon Jenkins is saying there in terms of the history of empires and they never survive and they tend to crumble from within and i understand that the difference with the american empire of the 21st century is that its constructed entirely out of digits of algorithms out of debt creation out of money printing and the cost of increasing the debt indebtedness to our vassal states which be every single country thats not america is right imagine if you were in the present business and the cost of building the prisons i mean you could build prisons for everyone in the world because your cost is 0 america has built a prison called the world and its the prison its the it runs the prison. And the cost of building that prison is 0 because its all based on everyone in the world is still willing to accept dollars trade in dollars a clear through the new york fed and worship the u. S. Dollar wherever you go youll find a. T. M. s in countries where as the local currency and dollars write dollar is god no matter what religion you say you are around the world the fact is you to pray to the u. S. Dollar every day every single empire has also looked like uniquely this time its different this time theyre also powerful nobody could stop room nobody could stop it no napoleon every everyone seems like that until they dont and suddenly its usually suddenly and then all the looking back its like all the signs were there and then i want to look at part of what youre saying here and this interesting chart by divergence of s. And p. 500 and u. S. Nominal g. D. P. Began in the age of Alan Greenspan any coincidence there used to be a relationship between the fundamentals of the noncon me the g. D. P. Growth your actual production of goods and services your Wealth Creation and the stock market since greenspan and the intervention by the fed the activists fed who came in the greenspan put that you would never ever lose money if you just continued to believe in the s. And p. 500 because the fed would have your back well you see the divergence really take off that you know nominal g. D. P. Has just been the same slowly rising just like gold over the past few decades since Alan Greenspan but the s. And p. 500 has taken off doesnt care about earnings or anything like that you know because the g. D. P. Is based on consumption and tied to wages and earnings and Economic Activity and manufacturing and things like that are tangible the s. And p. Is based entirely on the ability to as zeros to your earnings statements based on the money thats being given to you by your king god the Federal Reserve bank and so there is no. Action and there is no need as ive said before the 3 trillion dollars or so that are collected every year by Americas Internal Revenue Service to fund the budget is is not needed whatsoever they can simply print all the money they need its a token amount compared to the amount of they print 16 trillion and they collect 3 trillion in taxes its a now its not its a rounding error is nobody needs that money well these 2 are required just like the taxes make it feel real so if you didnt have to pay taxes be like its all a Monopoly Game but it feels real especially if you might face 1020 years in prison for not giving this money they must think its really important and really real its like gold and that that i think creates the helps them to stay in this then money is not go doesnt go toward increasing the wealth of the nation it goes toward increasing the incarceration of a nation thats pretty much one time in the beginning you tops of the world as our prison well ive done it again well were going to take a break and when we come back much more coming your way. You are no offense but you no longer a young woman in fact you are one of the last living survivors of the nazi. And im aware of it. All your life. You can never forget. Now. Was it really like to be inhaled you would never believe. You as of. Course for 32 years of the birth of it. When i get out on the farms on your. Next place and hopefully bless her. Welcome back to the kaiser report imax guys are time now to turn to. Gold switzerland that com egon welcome back thank you max and a bit of a late happy new year to you right on your web site little piece called we just left the 20 tanned the state a decade a fantasy as you call it what is a saw about the decade of fantasy and whats coming up in the next decade the decade of fantasy once the deck was a decade the world managed to artificially all the worlds Central Banks to artificially. Patients who vied for another 10 years which was absolutely a lot longer than i ever expected was possible but nevertheless by printing fake money by charging 0 or negative rates for it they fool the world who are up for another almost 10 years what actually was 10 years. Ago therefore we are at the peak of bubbles that we are at the bubbles. I think the twentys will not take until 29 like it did in the 1900000 till the whole system collapses i think it will happen a lot sooner. Will is likely to start this this year and any time now the risk is at a maximum. Things dont always turn when you expect to but it could happen it could happen this week or next week or it might take a bit longer but i dont dont see these bubbles last in for much longer this is banned the story for a number of years as you point out weve been talking about this for 10 years that on a valuation basis on a price Earnings Base basis on historical basis the markets are over a value to certainly the bond markets in a 300 air bubble in the. Not a kingdom its a 240 year high in the United States or bubble in the United States and yet there doesnt seem to be any end to this down during the 10 years you just talked about there the Federal Reserve bank in the u. S. Alone printed over 16 trillion dollars to keep the zombie banks and zombie corporations alive remember a lot of these corporations report no earnings at all theyre only kept alive through stock buybacks and cash infusions from the central bank but my question is i dont see that ending anytime soon because the Central Banks could very easily buy another 15 to try to 20 trillion dollars worth of bad assets they all Work Together that all the major Central BanksWork Together they dont theres no sense of competition in the world like David Ricardo talked about in during the 1st years of nail classic economics its all collusion and theyre all buying horrible junk and theyre all working together and they have Printing Presses a so why would this and any time soon a gun things dont always end when you expect them to and we just said this bubble has been going on for 10 years you should have collapsed 2009 at the latest or 7 even if you didnt and you know the theory is very simple if you if you broke 2006 when the Grocery Store to world global debt was 125 trillion since then another 140 trillion has been printed so we are around 20665 through you know and remember all of that is just its bubbles its nothing to do with real money and that money has been invested into main to the stock market is not going into the real economy so then manufacture. Fake money and created fake well now ill long think the world can continue to live on just sitting there or on fake money and fake asses i think we are now i reached a point when that sheer weight of the debt will actually mean that this is dont call absent in the next it could be this year or include obviously will take a few years but that the start will be this year now while you call fundamentally argue that its going to happen now technically mark is now in the stock market big stream evaluable are just what these yesterday. You know you are looking at a massive negative divergence on the new highs and the down the s. And p. For example new highs in the stock market is not confirmed by momentum indicators now that doesnt mean that it will turn immediately but that means that the market now is at a very very high level of risk and for it is likely to sometime in the near term future i dont thin