Cancelling all those t. V. Shows canceling all those celebrities tearing down all those statues doing all those protest is meaningless with a capital m. You have wasted your life away completely you are a waste you are a waste if you dont counsel the fed if you dont cancel the fed then you have wasted your life its that simple millennial is jhansi baby boomers and gen x. If you do not cancel the fed you have been born into this world for no purpose and the fed of course is what i had said in my tweet and this was this is a motto that has been going around for quite a few years a drive driven by mostly ron paul of and the fed and so weve had a since 1913 and this is the systemic nature of this is that it is sexist it is racist it is classist by nature in terms of the fact that the fed pushes the cantillon effect here im going to say plucky this is plucky cousin as actually what joe will say and you know the spirit of one. Joe wilson resides in here because he did create the fat he signed the legislation and here we are 107 years later and more adults than ever lived with their parents or grandparents so weve come full circle back to sort of medieval ages when you know extended families lived in one little tiny room with all of their livestock and absolutely shocking new report by a zillow this month estimates 2700000 adults moved in with a parent or grandparent and march and april as virus pandemic lockdowns crossed the economy yes a fractal because the globalization rights of countries are no longer globalizing they are nationalizing starting a drop in 2016 that was the mandate make America Great again that is a call to the global audience and you say that more you know the fractal lovely scene out of the family unit where people are now living together you know in america they decry the end of the Nuclear Family right the mom kids grandparents having a close relationship and this got atomized during the fiftys and sixtys in the seventys where the kids went out and they discovered themselves and they went abroad and they learned different cultures and it was all the birth television broke down the Nuclear Family and values collapsed and then the silent majority was all really upset because the values of america well now the values are coming back the families are all moving together theyre living in hobbles theyre scared out of their wits theyve clutching their crucifixes and theyre talking to pluck you the worlds greatest economist so thats a good thing yes in fact what we see found in the zillow analysis they found that 32000000 adults lived with a parent or grandparent as of april or about 10 percent of the entire population lives in their parents basement the highest on record this of course could also explain social media like a lot of. Adults living in their parents basement and they are still living out their childhood but with. The aggressiveness and anger of an adult and of course we see the Savings Rates has surged in america and partly its a lot of the free money that the fed and the treasury are creating and of course if you dont have any rent or pay bills to pay because mom is paying your bills and cooking food for you this is this is part of that infantilization as well so at the end of empire you have a lot of crazy stuff out and you have giant babies wearing big baby diapers Walking Around you know leading the country and trump is the epitome of that hes basically hes like a dude that lives in his mothers basement this savings rate going up the way it is really goes completely against all the economic policies that are designed to stimulate American Economic growth right because American Economic growth is all based on aggregate demand and they employ keynesianism to get the aggregate demand just go into debt as much as you possibly can to to to buy to purchase to be a consumer to get the aggregate demand going but with the pandemic there is no pushing on a string there is no way to create a supply chain you cant print the supply chain the camp print job recovery the way you can print money so people are not consuming because the grants are going to into a depression and so as such their savings and American Economy is not built for savings they have whats called the paradox of thrift they call the savings clot right they vilify savings and saving his breath but of all those people with savings now if they converted 506070100 percent of the pick wind then they could become individually sovereign and they would save themselves but part of that savings club why that exists is because the you know the bottom 90 percent are spending all the money that they receive so theyre not saving as much as the top 10 percent. Which theyre saying as you know they tend to spend thousands and thousands of dollars a month on 1st class flights or hotels or you know gucci bags and things like that that theyre not able to spend right now because theyre a little bit more scared than rest of the population theyre sheltering in place and exotic you know in their in their 2nd or 3rd home and stuff like that but in terms of ending the fed and ending the situation of the wealth and income gap that we see in this week that is our independence week you know. That the fed is responsible for moral hazard and why we are tearing down statues at the moment is this this notion of our new morals that our morals do not abide by all the the stuff that happened 200 years ago like we do not we do not agree with their morals and therefore were taking it down but now we have this thing called moral hazard whereby we have all of this risk in the economy and this is part of what we believe is destabilizing the economy yes it is the race and yes theres the sexes and yes there is all of that sort of but immoral behavior of our system but one of the biggest moral problems is the moral hazard and you see that in this next story because how were going to fix this situation amidst the pandemic im its a global uprising amidst all this other stuff and the lack of faith and institutions i dont know pressure builds for s c b s bailout and open letter to chairman of the Federal ReserveJerome Powell and secretary of the treasury Stephen Minucci and the group asked the central bank to devise a long term relief plan and the face of an elongated crisis though it did not specify a particular structure for any such plan this group is a group of congressional legislators who are now and they wrote saying these commercial Mortgage Backed securities which are sold into Pension Funds across america its the new c. D. O. Member the collateralized debt obligation of 2008 we have these c. M. B. A. s backing c. L. O. Those collateralized Loan Obligations and these commercial Mortgage Backed securities you know you think of all these malls you think of these a half of manhattans real estate all the shops closed not only due to pandemic but also to uprisings so theyre looking for a bailout yet another bailout of their moral hazard system member of the movie the big short came out after a few. Years after the 2008 level financial crisis and talked about sub prime some prime mortgages on the sub prime collapse in the sub prime contribution to the Global Financial crisis of 2008 the other thing that came out the big short so a lot of people came out to me and they said back some of you said big short real is that really did that really happen did people really know about it and they profited billions of dollars bet against the market that was right and i said 2 things number one not only is it real but the whole thing playing out again in the commercial Mortgage Backed security market. And within 10 or 12 years it will happen all over again and they said thats impossible all theres laws right. Now yeah this collapsing again and as the big short part 2 is the Global Financial crisis part 2 its the Federal Reserve crisis part 12 and its the depression part 2 so you know i wish we could get some different scripts this script is being over and over and over again its like watching sex in the city the same episode 20 times in a row its a bit boring but weve also often talks about this analogy of the black hole of debt in the black hole is sucking everybody in and sometime in around 2000 i believe we did pass the event arising and what weve had since then is this process of spaghetti for cation and time has changed as we get closer to the black hole and splatter hood because we you know Interest Rates went negative so time started to have no value we started to go backward in time some point at about 18 months ago then we had negative Commodity Prices with negative Oil Prices Energy shouldnt be negative but apparently it is it happened 2 months ago and now we have a situation where were also seeing the time compressed because they point out that the letter also listed worrisome c m b s Market Metrics such as the fact that the delinquency rate hit 7. 15 percent in may up from 2. 29 percent in april and is fast approaching the record of 10. 34 percent delinquent in july 2012 quote what took years to progress towards delinquency rates then now comes in a couple of months the letter said right well china will end up being the dominant economy in the world not because it will outgrow all of their economies but because they will be impacted the least by the global depression and america will be impacted severely by the global depression as well the u. K. And france and italy and horrible but china will be impacted the way least by the global depression so theyll be by default the world leading economy. Its a 4th turning end of empire rise of another empire 3 cities each trap where were just saying over and over this is independence week but in a way we will get our independence once the empire collapsed right because then we will no longer have a fed that rules the world and therefore creates all this moral hazard and bails out all these people who keep on jeopardizing our security and our safety and our well while being with all of these fraudulent debts the studios the c. L. O. The c. M. B. S. The Mortgage Backed securities all the stuff that keeps on terrorizing the population with boom and bust cycle is i think its destabilizing i think you see that you know theres no one thing thats causing the uprisings and its all of this stuff right lets change the name of Independence Day to dependence. All right well take a break and when we come back lets work up. To what weve got to do is identify the threats that we have its crazy. Let it be an arms race. Spearing Dramatic Development the only really. I dont see how that strategy will be successful very critical time to sit down and talk. Secrets prisons and usually what comes to mind when thinking about europe however he even the most prosperous can be deceived with. The work to view houses were. Preserved was located only you can pull it access to the story for investigators covered the darkest dealings of the secret services but i mean. You great ignore. You sort of. Thing for justice. Welcome back to the cast report im max keiser time to go to alex step out of amber app welcome alex and can you just briefly describe amber after us briefly really briefly its a big point accumulation at so its about 2nd sets were the 1st ones to do cost averaging world and were doing cool new stuff soon enough which is going to take dollar cost averaging and put it on and cyril instead the good kind is there its there i cough people can check that out now let me ask you this this weekend is Independence Day in america a celebration of our independence from monarchy taxation without representation and the bank of england today we have thrown in capitalism never ending bailouts and some hyperinflation on the way what happens next its really interesting im listening to a book now called but you know the great course is serious they do all these universities are courses and one of them is on why economies rise and fall and theres this monkey you know its im going to alert words like intellectual youre. Teaching people economics you know. And so you know to talking about how. You know the. What spawned the rise of economics and really you know it started before america really started with the rise of the merchant in western europe you know now to learn u. K. And it was when some of us were able to. Agriculture really start it up and people were able to. Do farming and produce food more efficiently and therefore have time to do other things now as that potential rate at those countries became richer traveling but then you know the classic rise states during that period alongside d the market. The thing or stealing from it will be taxes and you know all you know all of the things that we literary and the big point of the century against and on and we had people you know run off to the new Promised Land and. Establish a new place where people could live free of these days original financial terrorists or these original rulers to try to you know take the wealth that people are creating and you know we they went and created this place called america which was which is fantastic because you had this place built on libertarian principles and. The acceleration of economics based on you know free market wild wild west saw a place go from nothing no history to becoming a worldwide economic power in 100 years that goes to show the power of people coming to voluntarily being able to do something but then of course you know we had 913. 00 and you know the federalization of the on the space of america which you know since then were seeing the ramifications of and and where im going with this whole thing is that. We. Were seeing you know peak state which probably started happening you know 2030 years ago with you know with communism and all that sort of stuff im not saying a communism started 20 years ago but thats sort of her collapse and we now have a version of you know quote unquote capitalism which is a blatant lie we as you said socialize the losses of privatized games that came sort of funny. But where i think it goes next to finally answer your question you know really matt is i think this thing keeps crumbling. I dont know if inflation is running when i think these clowns can manage to keep the can down the road for maybe another decade or 2 maybe 3 maybe 4 i think its to find within the system that what i love about bitcoin is in the same way as the Founding Fathers and as the as the people who 1st went to settle in america the same way they did they went to a new land they went somewhere fresh because you couldnt change the existing system from within the system coining and neighbors us it created instead of trying to change something within like police in texas doing you know trying to make payments with the banks and you know doing why its kind of stuff. You know they kind says were going to create a new place over here something completely fresh something completely new something outside of the existing system that is voluntary that is opt in that is it allows people to come in and build wealth that is protected that at its roots has private Property Rights built into it mathematically not because someone said it is late literally in what were repeating what happened with america. 250 years ago level on a one to go with this but now on a Global Digital scale using math and i think this is this is now. True independence and something that you know would be much more all it will lay the foundation full you know the next couple 1000 years you know the creation of the social contract which is something that goes back a few 100 years and it also was something that arose during the creation of the nation state because you did have suddenly a wealthy class that was able to aggregate a large quantities of wealth and this. Prerequisite a need to come up with a social contract you know how will the governed govern those everyone in society and america was the great social contract in the constitution the bill of rights we the people and all this and unfortunately 240 years later its really gone back to a monarchy a kleptocracy a caucus not receive a technocrats and so weve lost it you know america died essentially now big coin is the new social contract and the new soldier contract is mathematically algorithmically inforced every 10 minutes coins are distributed and that this social contract that is the vital essence of because it is bought into some folks almost perfect its almost the perfect idea of a social contract and the results are going to be what some call individual sovereignty yes so this is a quite a concept instead of having nation states and sovereign states will have individual sovereignty when your thoughts to a greater degree as you say that like i had chills up my spine because its like i think were living in such a special who appeared of history like you know and not to some compass or anything but you had the Founding Fathers you know. Helped you know establish the constitution and create arguably you know the greatest freest land in the time right which unfortunately has devolved into like sort of. You know where were now at a time where we get to help establish this new this new place this is new Promised Land if i can use that terminology and. Amend it. What one of the one in one of the founding principles i think what makes it quite special and what youre talking about there with personal sovereignty is in order for somebody or something or a group of people to be sovereign they need to be able to protect themselves and and specifically protect private Property Rights that sort of the foundation of being able to be sovereign in some way shape or form like you need to build. From aggressors from from theft and for the 1st time in history. I mean because fundamentally when someone comes to steal or rob you theyre looking to take your wealth of some sort now the easiest wealth