Covering the fact that you know hes directly responsible for this erosion of price discovery of you know free speech essential he is hes like the tyrant of the markets he doesnt allow Free Speech Free price discovery free markets thats absolutely right he is censoring the machinations of capitalism which weve doubt the weekends and gives us only the winners so that we may become glorious in our quest to dominate the Global Economy but because of the printing thats going on in the bailing out. Of the we can still weakest amongst us in Corporate America what happens is the vibrant new small to Medium Enterprises are pushed aside if they dont have access to credit and the worst behaved myths the albatross the no good mics are flooded with cast to do more bad things exactly so here he is warning the Small Business is going to be doomed of course investors love that because just like Warren Buffett he likes most he likes only copleys he only invest in those like if if you could force the price if you could fix the price at whatever is not the highest profit margin Warren Buffett loves that Zombie Companies may soon represent 20 percent of u. S. Firms this is a chart showing the percentage of u. S. Zombie firms who are unable to meet their present Interest Payments from their actual earnings Zombie Companies destroy the economy in the long term so everything is about the short term right now as we you know because shorter and shorter term of the past 20 years and now were at the point where the while everybodys already spent the next 30 years so thats why were at this collision course between generations and the boomers and where it goes we dont know right well this statistic referring to Zombie Companies is very telling me now its its really the pictorial graphic representation of something weve been saying on this show ive been saying on the shelf for some time now is that money printing doesnt cause a rebound in inflation it in fact causes deflation and you have no statistic that proves that more than the rise of Zombie Companies right this is why money printing doesnt fight deflation it causes deflation because youre pouring money into companies that are zombies that have inability to function as ongoing enterprises but because they are friends. Of the central bank and because stephen duchin and donald trump in the all those folks in washington believe it strategically important to keep their donors these are donors thats who are being kept alive here are the corporate donors into Trumps Campaign are being flooded with cash even though their underlying businesses are not viable and no longer able to sustain themselves and they end up with as zombie economy and this is growing by leaps and bounds and anybody knows that in a zombie film the zombie is the living dead the walking dead right theyre dead theyre Walking Around and they try to kill everybody else around them to keep themselves going and this is the same thing that were seeing in this cat socalled capitalist system you know i dont think theyre protecting just so Zombie Companies yes or their you know donors but there must be the underlying derivatives which are many many times bigger so many many more corpses there than there are in that real economy we have the Zombie Companies so it makes perfect sense that we have zombie investors as well you will almost certainly lose all your money if you buy our stock or it sells perspective new Equity Investors yes 5 times in their prospectus for these new share offerings they said you will lose money it will go to 0 you are about to lose everything and the walking dead the zombie investor is on robin hood like give me your bad shares right there camels id like to be on the carrion of debt equity. Its like betting on which and of the titanic will sink 1st if youre buying her stock the whole ship is sinking but you make a bet as to which one it will you know which end will end up in the water 1st i mean this is worse than going to a casino because at a casino you have a very small chance of winning when youre involved in the hertz float of the sabi Stock Offering you have 0 chance of winning its worse than casino economy its worse than buying a Lottery Ticket its the most egregious example d of blatant captured regulators who are essentially distorting the economy so that they if you make a point or you ask the question well its not just the donors know its not just the donors because behind the dollars of the banks this is all about bailing out the banks on wall street and why because they are the biggest contributors and owners of the fed the fed is bailing itself out the fed owns all these stocks the fed has all these loans the fed owns all these bonds when a prince money and keep Zombie Companies alive its to keep itself alive its printing money for itself and by the way whos a huge shareholder in all this nightmare Jay Powell Jay Powell is bailing himself out why cant people who are underwater on their mortgages or just been laid off in america simply print money to bail themselves out like jay powell is printing money to bail themselves out thats not right is it that they are in a start you are in the position to 2nd but. Right he says burning but im going but im going but i think highest pay pal and a bailout myself but im bowing but im going to print the money all day long to bail out myself because im a crook im a crook im a crook right and but meanwhile ben bernanke you the previous fed chairman is over at citadel yes were going to get to citadel because that is of course part of this hurts story and you know it emerged the data is coming out about just how much they are robinhood the app is giving away these free trading but the free trading actually costs a lot i. E. Theyre selling their. Data that the flow there stung that information to High Frequency traders and the Number One Company theyre selling it to is citadel which where ben bernanke he works so that would seem like on the surface it looks pretty dodgy so on the topic of dodgy corrupt central bankers like jay powell theres ben bernanke the the guy who is sitting in the chair of unfortunate palaver citadel big head fun run by ken griffith they just bought an apartment in hatton for 250000000. 00 with the money that got printed by ben bernanke and he gets given the trades on robin hood before they hit the floor before the trades are hit the floor of the exchange to be executed ben bernanke he looks at the robin hood traders and he says oh my god these idiots are buying hertz so he puts an order in before they do they flood the market with their orders price moves up and hes out so he scalping scalping scalping the robin hood traders hes stealing from them hes like sticking a hose in the gas tank and siphoning gas out of the neighbors car hes a larson istic pilfer and just so you understand max keiser has the patent on a Virtual Specialist Technology and citadel all these derivatives traders all the High Frequency traders j. P. Morgan black rock which is now managing this bailout fund for the fed all of those companies have their own patents that rest on top of maxs patton you can see the references if you go to the google patents on line with your patent number 5950176 so this is the this is the expertise theyre building on that macs create well i feel like Robert Oppenheimer you know who created the atomic bomb and then regretted it you know i created the Virtual Specialist Technology just for its market manipulation to create this fairest exchange in the world the Hollywood Stock Exchange but it fell into the hands of wall street in the house used to rip people off and im very sad about that talking about ripping people off we have another headline about how much private equity costs mostly to the Pension Fund Industry but 1st well talk about cowpers which is. Biggest pension fund in the world certainly in america its there its for Public Sector and california and cowhorse the biggest us public pension is considering boosting leverage to as high as 20 percent of the value of the fund or nearly 80000000000. 00 based on current assets in order to achieve its 7 percent annual returns target so this is j. Pow this is janet yellen this is ben bernanke he and this is Alan Greenspan they cause a situation of allowing that that the pile of fraudulent debt the black hole of debt that causes the inflation that they keep on printing money to throw into theyve caused these that this is the next mess this is where the risk has been transferred because remember the tyrants in the central bank that they dont want price discovery what theyre trying to do is to prevent anybody from understanding the risk theyre taking well the risk doesnt disappear disappears off of citadels Balance Sheet perhaps but its put here in these gallant sheets of the Pension Funds absolutely this Public Pension Fund cowpers long term toxic risk dump i remember when i was on wall street you know working for a big firm on wall street a lot of times firms make mistakes you take down a big order take on a big trade and somebody messed up the oyster and suddenly you know youve got a 5 1000000000. 00 loss or 20000000. 00 loss or a 50000000. 00 loss and so the firm is on the hook for that money now i personally have seen executives big wall street firms call up the pension manager at a big firm like cal pers and dump that loser guaranteed loser into that fund and thats the job of the pension manager at a place like calipers is to be compliant in a fraud being a toxic risk dump and so now theyre saying you know our returns are terrible well yeah theyre terrible because youre not you dont have access to winning trades youre only given the losing trades oh so you get a lever jump the fund to try to make up for that so what wall street remedy theyre going to triple down on the fraud and you know were going to get to this next headline but just google out there google cowpers. Bear stearns c. E. O. s credit default obligations theyve got a large debt obligations so cowpers during that period of 20082008 so read that and you can see where risk goes to die again risk guys in your pension fund dies in your municipality guys where its going to her harm the most people right spread out across the peasantry away from the top 0 point one percent and that is this really is a staggering statistic investors paid 230000000000. 00 in performance fees over a 10 year period for returns that could have been matched by an inexpensive tracker fund costing just a few basis points so that is private equity was handed all this money muesli by Pension Funds like calipers and they took 230000000000. 00 in fees and they did not outperform just buying a simple index that cost you know a fraction of a percent right its a its an enormous down the private Equity Industry as is the hedge Fund Industry hedge funds very rarely outperform the market anything any consistent way and even Warren Buffett has failed to outperform the market for 15 years in private equity is huge you dump of fees but you know that great marketing and theyre out there in the hamptons like monks people that dont know anything about anything railing and they get them to put millions of dollars into this great private equity fund mitt romney you know over there bain capital all hell you know will make a lot of money for folks well no mitt actually you down and thats a giant scam well all our president s all are former treasury secretaries all our Federal Reserve chairman they all work a private equity or hedge funds and write the presidency is just a way to get something on your on your resume so that you can leave and then do Something Like productive in your life all right well well take a break and when we come back much more coming your way. In the troubled 19 seventies a group of killers rampage through parts of Northern Ireland that was coordinated loyalist attacks protecting only catholic population and tens of thousands were forced to flee their homes and what was striking to put these attacks was that the are you see the Police Actually took part in the attacks so instead of preventing it they were active participants in the burning of full streets in belfast at the take more than a 100 innocent civilians women. As the review can seniors and we found out more i was surprised about the extent and its occurrence which the collusion was involved in some of those cases they killers would later be named. Getting i think it went to the very very top i think it the focus for all the water where all the patients you know on and give the go ahead. Welcome back to they report imax ties are time now to turn to stephen call it if its going his that investor stephen call welcome to the kaiser report and welcome back thanks for having me so lets discuss inflation and war so one of your recent quotes is that bitcoin lets you legally opt out of the inflation tax can you elaborate on this whats war what inflation saves absolutely the endless war that is all or around us all the time that weve gotten way too used to there was once a time when going to war was a big deal and it was voted on and taken very seriously and now we live in an age in which thats unfortunately not the case were kind of bleeding trillions every year maintaining these president s since for better or worse overseas. Fighting a lot of fights and in some cases maybe going on a national weapon. So what that means for individuals in the country is that your savings are often used to fund these wars and these Government Programs and often that happens in a way in bit most people dont understand so rather than the government having to go to citizens and say hey we want to fund this institution go on this campaign provide the social service whatever it is whether its good or bad that should be a conversation it shouldnt be that the government is able to quietly in hidden behind complicated jargon be able to steal the value from people who are trying to save money so if you have dollars in a savings account the Central Banks printed a lot of dollars in the last few weeks somewhere mariannes or 3. 00 trillion dollars were created out of thin air in recent weeks and those that dilutes the value of your savings doesnt necessarily happen instantly takes time got it. Trickle through the system a lot of complicated supply and demand but eventually d if you increase the supply of an asset there is no escaping from the effect of that on the holders of that asset and unfortunately im many people are paying an inflation tax today in the us and they do and in virtually every country and they dont realize it because the government doesnt talk about it and doesnt frame it that way but if you hold your wealth in Something Like bitcoin that is scarce that can that they cannot print more of and you effectively opt out of that tax and doing so is beagle in a lot of people are calling for defunding the police youre saying why stop there i want to defund the pentagon right the pentagon one and a half the 1. 00 trillion dollars of our tax money and over half the taxes are out of the pentagon and they start wars without any approval and that family wars of convenience as theyre noun simply to keep the defense contractors you know flush right theres no point to it then profiteering and so with bitcoin its a way to define the pentagon and you know i still a lot of. Kind of a spinoff from black lives matter now youve got several groups in the black community saying you know we can opt out of the american system completely with bitcoin are they right they are right theyre absolutely right you can for the 1st time in our lifetimes there is a practical way to opt out and escape from underneath that system. Back in 1930 you know gold has been the soundest money man ad for the last few 1000 years and back in the 1930 s. The government made it illegal to own gold to maintain their violent monopoly over the monetary supply so f. D. R. Issued an executive order 6102 and. Said anyone holding gold you have to give back to the government heres how much money well give you for it its not a conversation and bitcoin has many strengths that make it resistant to that same type of Central Control and that same type of attack vector governments cannot easily use physical violence in the same way that they can with assets like gold to force you to hand them over if they want your value with the wealth that youve created for your hard work and time and effort and you hold that in bitcoin they have to come ask you for it and thats it sounds small but that is a game changer because it is effectively on confiscated dollars was being indestructible and on the sensor ball which is also very important on the geopolitical stage where the dollars used as a weapon the us to call a sanctions and or the law censor the Swift Network for transferring dollars all over around the world and using the dollar politically now another big kind of interesting division thats opened up in society right now is an intergenerational division saying got the boomers versus the millennial rights the boomers are really trying to hold on to the status quo the millennial are saying wait a minute you took all the money both of ours and you know you little gave us all the debt all the student debt all this other debt and this again is an interesting way for a millennial is to do battle with the boomers because they can defund the boomers your thoughts agree very much i think thats one of many examples of specific sectors of society waking up to the realisation that they are futures has kind of been decided for them theyve been signed up for these that these obligations in ways that they you know they did not have autonomy over and it wasnt a conscious decision on their part and so as a practical way to kind of make that a conversation take back some of that power and that lever. Ridge they can opt into big point and thats true for you know maybe its millennia old in the Younger Generation who are already more comfortable in the digital realm anyway more naturally amenable to Digital Assets like bitcoin i do see that as a huge trend in kind of them starting to and will continue to a greater degree to reclaim some of that leverage in the discussion and say hey i know that you said im signed up for this but lets talk about it because ive got this bitcoin thing and you can just take it from me speaking of defunding how about defunding mainstream Financial Press you know we live in an era where hurts remarkably bankrupt companies trying to float a 1000000000. 00 worth of stock and Chesapeake Energy and other bankrupt company is becoming braced by day traders on various stock trading apps and the Mainstream Media am particularly when it comes to hurts this is obviously a fraudulent move on the part of hertz i worked on wall street for many years this is fraud theyre selling bogus worthless paper hoping to go directly into the pockets of the creditors but at the same time you know this is coming at the tail end of the 2017 period where we saw in the socalled crypto space they floatation a lot of i. C. s that were patently worthless but there was a serious multibillion dollar market for them its almost as if wall street looked at the i. C. L. Market and said hey i. C. L. All the fraud taking place on your market hold my beer you know were going to commit even more fraud you know how how much longer can this go on. Particularly i mean is that all coins face the man you have 27 tame is dead now finally great question i worry that there might be another way a long term i think all coins are worthless i dont think theres any promise in the Digital Asset that i have seen except for. Point. 2817 it was a mania youre right i think that unfortunately a lot of the mainstream institutional money considered bitcoin guilty by association they have been lumped into the same bucket Digital Assets as these i. C. A. O. Things and they dont understand the difference between decentralization and the fact that it is immutable that no one can change its Monetary Policy not good elevators not miners not any single portion of the ecosystem makes it very very different Value Proposition from any of the many outgoings i do worry however that it will take a lot of time we are still so early in this entire Digital Asset movement and that it will take a long time for that knowledge to dissipate and who knows maybe theres a 2nd wave of retail money coming in looking for the next point which i think is a lot like looking for the next internet bites i think as people who understand bickering we know we have a responsibility to those in our lives as we educate others making it clear why they quit is different and why because in a special can hopefully help others avoid the pitfalls of the 27th united c. E. O. s the rampant fraud in all the media you know they all things that came in after that time and thats trying to kind of cash in on because i bought with pyrite you know fake gold basically and then another generation on top of that came along called distributed finance with sames like even another layer of fraud on top of fraud can you explain the mayor and the distributed finance for all when they talk about a trust and price or a call how thats not just centralization. And why out of the eyes are they completely off base theyre now youre youre absolutely right in my opinion its complexity theatre and are often times i think. The hearts are in a good place in some of these projects some are outright blatant scams done by scammers and you know thats kind of the worst end of the spectrum i do think that there are some well intentioned people who are brilliant in terms of technology and theyre trying with a good heart to apply it to solve these problems but i worry that in many cases when you connect enough dots through all of the layers of complexity such as price or goals you ultimately get to a place where at the end of the day you are still relying on a small group of individuals corporations entities that could be. Black and they could be malicious actors they could be blackmailed they could make mistakes be subject to human error at the end of the day if you connect enough dots i think it does lead back to centralisation and many of those projects so i think that some of the use cases being explored on top of all points maybe they are noble use cases maybe theyre gal abuse cases but over time i see those migrating over to the security and immutability that you did by virtue of building on top of bitcoin having all of that proof work and unforgivable costliness in bitcoins base layer to build on top of right i love that phrase that complexity faster thats really interesting you know getting back to you because now so that one of the core Value Propositions something thats not talked about enough is that for the 1st time in history were separating state from money right up until pickle and this was not only a pa you know it was a concern of possible basically but now it is possible it has such a profound impact on society at large all over the world and there is talk about bitcoin replacing the dollar as rolled reserve currency whats the timing seems good because. Reserve currencies usually last about 100 years time the u. S. Dollars time is up do you say because i am becoming kind of. This world a World Reserve currency and kind of a string in a whole new era of state less money i do indeed i think big point is going to destroy currencies the dollar is the strongest be our currency but i think ultimately the fact that big point exists makes the whole nation state paradigm including all of the beyond money associated with it unsustainable and impractical they cannot escape the gravity of. Strengths as the strongest money weve ever known stevan call thanks so much for being on kaiser report thanks for having me and thats whats going to do it for this edition of kaiser apart with me max kaiser and Stacey Everett like to thank our guest david call d if you want to catch us on twitter its kaiser report until next time by all. Some control for a middle class the homeless of a night muslim are very hardworking people who want to get ahead that have either have some some Health Issues or have some of it out of strict about luck a full time job wont always pay for a place to live and missing just a months rent can get you a victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. You better catch up real quick or youre going to have a judgment of possession against you and get addicted anyone thats homeless is treated like garbage people look at you like a monster or someone batter you chose to be there most of the time its not the case see how it is to be pull in the worlds richest country. You cant forget with nature and inch nature that has to live through this message and so will we know only your more are going to have to enjoy the way they live and dont take into account this new. 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