A legal system of its own it imposes moral code upon the Economic System in terms of honesty and terms of distribution of wealth but here we have a system that 49 years later has become rotten the institutions have melted and disintegrated and we have people like our own senator here in North Carolina senator richard burr who was caught not only dumping a whole bunch of sharers 2000000. 00 worth after he secret inside information about the coronavirus but it turns out its even worse when senator richard burr not only engaged in obvious Insider Trading on the coronavirus after receiving intelligence reports on the looming pandemic but he also sold his townhouse to a farmer a lobbyist above market price for a tidy profit so here you have a guy whos supposed to be the legal system of the the. Moral code of the nation and congress and he was actually had these pharma before him in terms of business and he he sold his house to one of these lobbyists this 2 tracks there those 2 paths those 2 answers one is looting right so looting has become institutionalized and congressman and senators dont see any problem with looting they trade on inside information they glorify in it they trade stock tips down there in congress thats the primary reason they get together in congress is the trade stock tips and trade on inside information because the clip across the criminals and should all be in jail and burnt and set on fire and get rid of them the 2nd reason would be we live in a country that glorifies debt that would be keynesian economics keynesian economics hate savings if you read paul krugman of the New York Times hes constantly talk about the savings glut he would why he wants to burn savers he hates savers because thats his job as an Institutional Policy puppet who wants to get everyone is in debt as possible so that when they lose their job they end up in shacks they cant move theyre eating protein pills and theyre treated like garbage and like shit like mushrooms keep them in the dark and feed him. Right thats paul krugman in the New York Times policy thats keynesianism we hate savings austrian economics values savings and a values individual sovereignty and its the proper way to run an economy its what Benjamin Franklin would have wanted had he been running the Economy Today but all the Founding Fathers are dead in the state we have posers charlotte sans crux and paul krugman when a multinational sets up a you know one of these factories in mexico what they look for is single mothers who are desperate they look for people in debt who are desperate who arent going to give them trouble who dont go on to you know protest line that theyre shut up and theyre quiet right now so Many Americans as we know the fed even told us a few months ago that more than half of americans have. No money at all in their savings account in fact they have debt so they know for a fact that youre desperate right now and that youll do that youll accept whatevers happening with the fed thats and save us and these cult socalled stimulus thats right and you want to look at this inequality in anticapitalism one chart the fed for the last 25 years have used their tools and money to preserve equity and credit crisis at all costs as a result when economies contract average people get hurt capitalism progressive ship both this chart up this is u. S. Financial assets now 5. 00 times g. D. P. So this is the financialization of the economy that started in 1905 when the divine right of kings the divine right of these these you know the oligarchs at the top the elite the wall street the politically connected this is the moral code this is the legal system this is the Monetary System oh i said recently about the socalled progressive like to me door or chained junker you know they talk about the idea that we should somehow teach their leaders to be more moral and then we should ask them to be better people but they never actually talk about that thats impossible in a system that glorifies debt and has no basis for a savings to establish the economy with real money either gold or bitcoin thats never come out of those jimmy doris mouth hes never advocated for gold not one time and thats a huge mistake theres no such thing as a progressive if your only program idea is to try to morally assuage corrupt institutional prison were the bad guys to act better right thats not a thats not progressiveness thats idiocy that chart is from 1905 soaring up the financialization when basically the elite the plunderers at the top ran away with it all so to get back to your boss point active during the divine right of kings and who gave the kings the divine right religion. And then the transition to the fayette world war era was straddled by the bank of england to try to preserve the wealth of the monarchy of europe through a central bank and then they started the sierra and then we have keynesian economics which is the religion of the cia era to give the apostles like Nobel Prize Winning economist the idea that they are divinely endowed with the smarts and intelligence to centralize our economy and award people indulgences to those who they think are worthy of going into heaven an austrian economics says no you have to have savings you have to have actual individual sovereignty which is also the basis for the. Declaration of independence for america the United States and for those who are still a spouse the dirty policies of keynesianism. They have to deal with this with their own conscious going back to the divine right of a class of people when we had that back in the age of empires and kingdoms that of course kept the the starving masses the peasants in line because they dont want to mess with god right god had given these people live divine right the same thing here is in this structure of cup talk or see the financialization it started in 1981 where we went off the Gold Standard and the individual themselves could not measure their own worth just like back in the divine rights of kings the individual was not able to measure their chance of getting into heaven unless the kings. You know the priests and such he controlled would tell them whether or not they had paid enough indulgences the same sort of system we have here where youre not going to get up this very youre not going to be allowed the toll bridge is not going to be lifted for you if you arent participating in playing the game if we were guarded gold is the continuing true measure of monetary stability it suggests that stock markets gains in the 50 years since our own most entirely due to money illusion or the erosion of the dollars buying power so the red line is the s. And p. 500. 00 terms and the black line is in gold terms that money illusion is the same thing as prior to john locke and bost yet in these sort of people there was an illusion that the king was somehow superior and closer to god than you the individual only he could give. Any rights that you had no endowed rights at birth here is the same thing is that its a money illusion the illusion that this divine right of the markets always go up is somehow ordained by their closeness to the fed and is there anything more troubling for those who would be against the monarchy in power then when we heard that these relief checks being sent to the government were all going to be signed by donald trump quite that sun and 6 troughton area act of hubris that i thought nothing ive seen or read or heard donald trump say to his entire presidency really worried me until that and then i realized you know what america has slipped back down into a pure monarchy and its the threat and trump he was also raising keynesian economics he also doesnt really it cant blame him hes a he doesnt understand money he just understands death is the king of death as he himself says he calls himself the king of jet every us dollar should say have trumps picture his signature with the phrase the king of death and we reject monarchy if we are americans if we are not rejecting monarchy then we have to ask yourself how american do you think you really are hes always from day one and pressing Jerome Powell to cut Interest Rates to issue more debt from day one thats the i think he announced that in his inaugural address to the nation its like cut rates so this is something hes been interested in however you know those people the divine class they only operate for themselves they do not care about you they will snatch your socalled stimulus check out of your bank account they themselves will be granted money from you the taxpayer. Weve for to make up for all of their mistakes but look at you the individual how much theyve taken from you this is what i object when i hear progressives because their whole agenda is to get the people acting poorly in government to act better theyre never going to act better for exactly the reasons you just stated they are born to act poorly and not in the interest of the collective or the masses or the people or the common good there are only way to fight these people is to come up with a competing form of money that destroys it we only know that one exists and thats course bitcoin record and gold gold would have told you this entire time that these people are not divine jamie diamond is not divine Lloyd Blankfein said he was doing gods work he is not divine those people are not billionaires because they are divine is somehow better than you you have been subsidizing it you have been subsidizing it people who pay taxes who work in this economy who who are the essential workers have been paying and ill show you in these 2 charts here here is the total Household Net Worth of the United States measured in ounces of gold rather than dollars over the past 50 years and as you can see it went down from when we went off the Gold Standard 1071 and then it went up a bit during the dot com era that did expand some of the wealth to ordinary people who are Holding Shares in their schwab accounts and their various other online accounts and now its just sunk but in dollar terms this is the same chart they give you the illusion you the illusion the one that is working harder and harder to stay the same place they give you the illusion that youre actually getting wealthier and this is all good for you well some bob way stock market was skyrocketing while the people were literally digging in the dirt for flecks of gold so they could eat so you know thats the difference between gold and the illusion of. Price manipulation that comes with money in the papacy of the Federal Reserve bank is supposed to be separation of church and state when you treat the fed like that like like the vatican. Problem america they are going to take a break when we come back much more coming your way. Thats. The much older of the stuff. Just to. Show. You put its not just the most unusual not on one level so the stuff. Welcome back to the kaiser report im max has or not its time to turn to will raves of the fold app will race walk in the consul report back to be here all right its out about the fold app its Pretty Simple we are giving bitcoin to as many people and the least amount of time off of all we get free because were shopping at retailers like amazon starbucks and weve recently teamed up with these to launch a big going rewards card that will give everyone the opportunity to stock that and earn that money so this is really exciting i saw you tweet about it and mediately want to get you on the so youve got this deal with the b. S. I can use my visa card and spend my fiasco and get rid of my fear money and i get bitcoin cash back rewards and so its got to be the most painless way to stack sasser accumulate big coin ever and whats been the response so far you know its been an incredible with far i think this product has been has been you know a lot of people are going to waiting for it but weve got a great. From the community in the 1st 48 hours we had over 15000 people signed up for the card and that number and we also got great coverage for made media and its always great to see. Company able to break. Yeah i mean because i know as you point out its the hardest money ever created whats so important about hard money somebody might ask and they know im raising the headlines and theres 22000000 people now want to plow and in america thats projected to get to 30000000 you know. In america savings are really considered evil and keynesian economics is the way the economy should run a. And know about one of the economists like prof krugman refer to a savings goal lot he tries to develop 5 savings but if those 22000000 people have been saving bitcoin even 106 tell shes for a penny you know even a little bit you know every time you go out and buy a pack of cigarettes are a cocacola or a happy meal you bought some deep awesome sotto she said instead theyd be sitting on a half a 1000000 i 1000000. 00 and bama will maybe to write out this this unemployment storm how did how did america become a place for savings are valid 5 well i dont think theres a better time to launch a card like that while the Federal Reserve is making our money seem like an infinite supply you know we have been working with youth to help them understand the Value Proposition of their money and in this time theres never been a better boil for bitcoin the Federal Reserve is that if you leave and if im of record unemployment thoughts are going up and unemployment is going up you know hold it here to make it the easiest way for the every man to get a hold of those that make a big difference in the life of asymmetric warfare going on the average person in america have no savings or maybe they have 2 or 300. 00 in the bank and when they ponzi scheme collapses again as it does every 10 or 11 years. They are the folks to build a ponzi scam on a wall straight get an immediate bell out no questions asked a mint in a chain wire some a trillion 5 trillion 6 trillion whatevers made it its just instantaneous and then the poor suckers who are live in this way place you know they might get some money are sent to the wrong address or such act that they can cash anywhere or its got to have Donald Trumps you know saying that chair and they really hate the population with contempt in america now sadly and the only way out is individual sovereignty and the easiest way to do that is a big coin so hows the market do you think for this Going Forward for the fold app out now we know we have a lot of startups on the show how big is the how big is the company now and what were you on that cycle is it really how long youve been around and what do you thinks going to be your prognosis for the next 2 or 3 years dave you know for the better around for or for d a while weve seen different cycles through a few who have a name with with and weve been able to see the growth and really be able to find what the real Value Proposition for everyday people and we launched our mobile back in october if you have back that retailers and and now have lost part of you know 93 for said of all of users that they would wish you a card that gives them for him back as at a fast faster Airline Miles if it was available and with ford youre talking size of thousands of users but we also know that were just starting a thread and well see many others and thats what were going to increase by stressor and in see success ability through this wonderful asset was all right well i guess the model seems like it scales pretty well i know of one other company that has because cash back rewards and i think the model as i. Contact various retailers they get them to sign up for the program and they get some rewards back in the form of bitcoin but the fold model seems like a scales better you just use that visa card and you get the cash to get the bitcoin cash back and let me ask you this so you know as far as pickling ghazni having are they having us coming shortly in the month of may this is happens every 4 years the mine way was cut in half the stock to flow model model approves its being greeted with huge anticipation and excitement in the big going community when you fall on this big nose or just another day in the life because well it depends on how long youve been youve been in this world and i would say for us its just another day but i think its really important or the often cycle. Paths or at least brought in many new entrants into the base generated interest beyond. Merely into the wider world and then you think introduce more and more people but i think it is a store at the moment and when youre talking about 6. 0 or you know if its all of the reward paid out in the past back reward last year in the United States. Instead of Airline Miles the 1000000 because it would have been distributed to everyday people in a very distributed basket and so i think when you make the have a product like the one that we are introducing you get really incredible back number one getting more people to participate but also more by fresher with even make that having a more fair let me ask you about the Lightning Network because this is another hot topic in the big going world how is lightning worked out so far in terms of scaling issues has it helped or does it still have further to go what are the limitations what whats also more lets give us an update on lightning so you know to be for. Quickly on this lightning has. Done wonders for our users in terms of using because im in there every day but also being a tool or for people who may not be familiar with big boy to have an experience with it and feel just like their credit card in a bath and with all the excess that out of how to retailers and so its really brought the medium of exchange its a big climb to the next level and you know what we see here although theres about 15 percent of users that come in spending on a credit card switch to using lightning because they can earn more cash back on the old and so we know that it can provide an experience that matches inc