Mortgaging the future of people who dont have any say in it were going to get to that but before that i want to talk about this quarantine situation because were in this global quarantine and somebody mentions a great interview quarantine max kaiser is best max kaiser and that is something true because of course corona means crown kaiser means king max means king your max kaiser the King King King King i am so toshibas representative here on earth i am the bishop of the taj ok well if thats what you believe but the thing is you know you can make wit it you know whatever you want of the situation it is a dire situation it is a global well and let me just jump in here 1st i can see that as we have in stark relief in a we have it slapping us in the face like that gift of the woman getting hit in the face with a trout during a storm that everything paltrow going to set up. Ted is false hes always saying its just that we know ourselves and we are going to ignore it well what happened paul krugman is that suddenly that debt became a problem didnt the few weeks ago and the globe goes into discounting and realizing all that future revenue and future that you decided it was not important and all those generations that you decided were not important suddenly everyones jobless and without food to eat in many places because of the economics espoused by charlatans like paul krugman ill say that and why this money particle why does that happen why does that keep on happening and why does every single time since 2002000 the end now 2292020 why is it that every time they do this that the wealth and income gap explodes especially between generations you see that between income classes but you also see it between generations and you see millennial get left behind further and further where generation x. Was at the same age and of course where the boomers were even more so at that same age so why does that keep on happening well because they have to keep this debt ponzi scheme alive and thats why we keep on having to mortgage the future because those current members of the ponzi scheme cant keep it up so they need to go further and further out into the future the state of the consumer nearly a 3rd of us renters didnt pay april rent so this is. Really the base of this pyramid of debt if those bottom layer of renters cant pay the mortgage the rent to the mortgage holder theyre wrong t. A class you know that is what unwind see entire Global Pyramid scheme right the pyramid scheme has a few layers and if people are not paying their rent or their mortgage in a 3rd are not going to do so parent month of april that is like calling the the rug out from underneath this enormous ponzi scheme in a huge way and it also i think echoes the occupy wall Street Movement because during the occupy water. But there was you know a belief by this generation the millennial and the genesee that wall street was abusing them in some way and they wanted to make the message clear that they werent going to abide by the money printers and the ponzi scheme operators but it was an abstract concept now in 20 twentieths Real Campaign my rent so now that wall occupy wall Street Movement should really become more. I should say pronounced as it becomes part of the global insurrection against banker occupation that weve been talking about for 10 years well its basically occupy debt there was a think there was a subset of occupy wall street that because the debt is occupy them its occupied our economy and our infrastructure and our supply chains and this is what is coming on unglued as we try to maintain this system you know we we have all these senators and congresspeople plugging the holes of this debt system as they emerge i mean were on face for another 250000000000. 00 plus i dont know another 500000000000. 00 so mary were continuing to plug in these holes of the debt tsunami as it unwinds 30 percent of mortgages could default and fannie mae and freddie mac. Could require another bailout like the Great Recession as lock down stretches into summer warren analysts as many as 30 percent of americans with home loans or some 15000000 households could default if the nations economy remains closed throughout the summer right well let me speculate on something because this Fannie Mae Freddie mac. Bail out another bailout before they even pay off their 1st bailout or during the whole recapitalization or reorganization or collapse of the fan that ponzi scheme that is fannie mae and Freddie Macas they have to go through that again i am making this prediction and ive been saying this for a few years but i think this could actually happen now that actually Fannie Mae Freddie macas sold to peoples bank of china p. B. s c. So that china fact that they becomes a landlord for a 3rd of american households. One number 2 we could see another make a deal like exxon sold to saudi arabia i think were going to see some mega deals like that as part of the new world order finally i mean the bit this bit of kind of a stretch but i think that alaska could be sold to russia well i dont know about that but certainly theyre predicting that up to 15000000 households could default on their debts on their mortgages nearly half of all u. S. Mortgages are underwritten by fannie mae and freddie mac. Remember leading up into the 2008 financial crisis they were is this theory this argument that were not going to bail them out because theyre just theyre not nationalized right the government doesnt stand behind these bonds and at that time china was one of the biggest holders of those bonds and they said well you better buy these bonds and bail out the system and lo and behold they did at that time there was a big theory and a lot of people out there in the audience who might be generation the dont remember the last crash because they were only like 1213 years old but at that time there was a theory that china would take over the whole thing and. Then the became a National Security issue but in terms of this situation we have 50 percent of the Mortgage Market is is basically underwritten by the United States government about 60 percent of all health care is underwritten by the u. S. Government through medicaid and medicare. 90 percent of Student Loans are underwritten by the u. S. Government so the fact is we are we have over the past 20 years especially since this hardcore financialization that happened since the commodity futures modernization act of 2000 and the glass steagall repeal and 1909 basically a continuation of the last episode where we talked about the bankers get all the reward everybody else gets the risk this is part of that is that weve had because society ordinary people take all the risk that weve had this offloading of everything on to the u. S. Government and nobody seems to have realized that you as we are close to what the soviet union was like or china as we say you know that theyre communist now lets call what is marxist communism you know Bernie Sanders is a socialist he would be too liberal compared to the communist so the communism thats being put forward now i mean you talk about 60 percent owned by the government owned Student Loans they are 90 percent of Student Loans they pay sick over 60 percent of all health care spent in the United States 3 trillion 4 trillion a year most of it comes from medicare or medicaid so theyre the ones paying for that the government is already paying for all these other schmucks like us and on obamacare thats like just money being thrown out the window this like money particle put in place so that trend is going to 100 percent. Right and if they keep going into debt printing all this money in the Balance Sheet the fed goes from. Indo with a 5 trillion dollars on their Balance Sheet which is 25 percent of americas g. D. P. If it goes to 100 percent or higher thats 20 trillion dollars of debt so the central bank would effectively own the Health Care System the Education System the mortgage all that the entire Mortgage Market and on at least half of the s. And p. 500. 00 so thats a deeply centralized poll of bureaus type soviet Union Communist trifecta of of stalemate in terms of markets in your future you know somebody has got to pay for this right the money printers compatible right thats happening but somebody is going to pay for it as we. Coverage you know its the future generations or its those you know the opposite side of that is the consumer the citizen the resident can eat the user of these systems the entrepreneurs their money printing press. It just burns in thin air its the vapid rays look at what theyre predicting in terms of just the deficit the annual deficit of the u. S. Government i mean i remember when it passed the chilean i think that was during the financial last financial crisis well look at these numbers are pretty shocking Bloomberg Economics expects largest u. S. Deficit since world war 2 tax cuts and spending measures already announced or result and budget deficit greater than 2. 4 trillion this year upcoming measures are likely to push that toward 3. 00 trillion dollars or 16 percent of g. D. P. Easily the largest as a share of the economy since 1045. 00 right so let me reiterate here so the idea of debt is just money we owe ourselves and that we should worry about it as you read in the york times Nobel Prize Winning economist paul krugman he thought he thinks this is a good idea you think this is the right way to go hes obviously procommunist which is weird because he lives in america its like marxist capitalism and its a new form of capitalism as a crony up to craddick communist sort of makes a real branding of communism this is american communism remember that show of american style is going to be communism american style and its going to be like people trapped on a Carnival Cruise line with coronavirus out there in the middle of the Ocean Trading food stamps with each other to try to make enough to click an ad on facebook to win a protein pill that is very accurate way to describe it because of course none of those cruise lines at all pay taxes in the you. Asked are all registered in the bahamas and yet who has to bail them out not the bahamas of course the bombers cant bell them out because they cant print their own money like the United States money printer go but it can so theyre being bailed out essentially by the us taxpayer what happens when all their their cruise line you know people on the cruise line the passengers when they come down with thrown away as they pull into Fort Lauderdale or miami and where our Health Care System has to take care of them you know i do want to point out that on this this deficit widens the most and 2nd world war that Little Orange line there is than the members of the public who own that u. S. Debt whos buying it well its called monetization is called nationalization just like we own 90 percent of our student that 60 percent of our health care that and 015 percent of the Mortgage Market we own 100 percent of the National Debt call of Travis Bickle bonds or so its like Lloyd Blankfein standing in the from the mirror saying we buy the bonds you buy for me you buy the buying from me about me you buy the boat from me Travis Bickle in debt pusher the new Martin Scorsese film on netflix or you know what i think we got to make a Charles Bronson remake of death wish and called debt wish i believe ive seen you working on that and speaking to a crazy director for our able able forest that he would direct me in that wish and im the natural successor of Charles Bronson its a vigilante banker dude in new york city it goes crazy and seeks justice is like occupy wall street meets godzilla but max in terms of these you know this mortgaging the future or at least that was a set of a future back in 2008 and there was a much more of a future back in 2002001 during the dot com crash now its like that the notion of having some sort of future becomes more and more precarious and like doubtful about whether or not this you know this empire debt can can sustain itself with more money print. And of course you see that in the reflection of all the stimulus socalled bailout packages and stimulus bills is theres no oversight and its just being handed to who knows who on wall street or c. E. O. s or lobbyist we dont know where its going so you know weve got our flamingo back here and weve got tomorrow is guaranteed to know. But theres a shakespeare line from macbeth mistake and of course im completely mistaken. I have no idea who say hey you know what weve got to take a break while i consult my complete works of shakespeare and when i come back much more coming your way. The world is driven by shaped. Sinks. We. Ask. She manatee is on the edge of the precipice thanks to continuing destruction of the natural world. You do seem to learn gives us a clue you could losing yourself from the. Play of the piano to. The members. Of the new. I think. The. Only dealing in the muslim world stands a little book youre surrounded by stuff and shit then see that. Human activity has brought us to the brink of the worlds 6th major extinction event and the people in this film just cant take it anymore. Join me every thursday on the alex simon show and ill be speaking to get a little the politics sports business im show business ill see you then. Welcome back to the kaiser report imax keyser time now to turn to lena savage sees the marketing director of bit si dot com lena welcome to the kaiser report thanks for having me great great to see you great to have ya now alina how does bitsy differ from other bitcoin exchanges. Yet there are a lot of big cloud exchanges out there right now so i think that makes it more challenging for every exchange to differentiate themselves as for c actually we really say that for a Financial Tech Company and weve built Financial Products for institutional and personal use that either use big quantitative or built on creating more accessibility for because because our team is very bullish on because and so we believe the new financial standard is going to build on it going to be build on it so we still see a big blue ocean when it comes to various financial applications so thats what we set out to build so our flagship product is the exchange which is the spot Futures Exchange with the add on and off for us and in addition to that we have other services its like o. T. C. Asset management lending and thats a debit card which is coming out now that sounds like a pretty full range of products there are let me ask you this there the pandemic that is sweeping the globe what youve been seeing in terms of volume on the exchange during the pandemic and you know theres a lot of money printing theres money printing insanity all over the world how is that being reflected if at all on bitsy actually the 1st thing we saw when the market crashed big time was that people stopped trading high risk so we saw people sort of escaping the futures trading and moving to a stable cuts. And a few people did but i did it and then as the client started recovering rapidly now we see a lot of interest coming back and of people buying and buying rice so the pickling having is only a few weeks away so the mining rewards drop from 12 to have to 6 the quarter coins every 10 minutes this is. An event that occurs every 4 years and all the big point traders around the world and those who have been following big point in crypto ive been waiting anxiously for this its a seminal moment every 4 years when this happens and what are you expecting if anything from this and can you just talk a little bit about it and we go to my expectations that i think in terms of short time Price Movement i have no idea it could lead the way we do have some data that we could go by based on the last 2 have an innings. That could give an idea but im not going to go and make a prediction based on that because we have to have ngs and are having and then were in sort of a special situation right now but what i do know is that the calling is unlike any anything we know today and were used today when it comes to money is a disinflationary acid in the world of hyper inflated im limited yet so our Central Bank Put drupal our money supply and in the meantime because becoming scarce so it would be very hard to believe for me that an event like the having that house the production of the client would not significantly push the price in the long term right let me ask of this alina the pickling community. Is very active and traveling all over the world all the time and meeting at conferences then im saying you at conferences over the over the years and now with during the corona virus pandemic these big coin conferences ive been put on hold and then the community is not experiencing what this this camaraderie if you will of all these events happening all the time youre very close to the community youre in marketing over there betsy is how do you see this Bitcoin Community at the moment is it evolving with the times how do you see that everything. I think generally because this community has been it was born on line its living on the line in terms of the communication not much has changed but the fact that everyone is getting tired of being such an old thing