Magazine what we see is the economist saying free money when Government Spending news no limits of course the big calling and Gold Community saw 1st by coming up with that mean money print to go broke and of course they saw it the mean was powerful and that unleashed the crack and in big point it unleashed a crack in solver it unleashed a crack in in gold but only if the crack and over at the you know the. President. Was just rather sure. Also. What do you. Yes its free money and the Economist Says quenching out that this could be something to be worried about d and it of course because why its so worrying is that its the psychology once the mind changes once the mind expects that this is the way things can be Going Forward that we dont need to work we dont need to go to labor and and spend 10 hours a day away from our family we could just say at home and speculate via you know various online trading apps and so that mindset is setting in and can we ever step back from that can we step back from this global m. M. T. Or is this the last days. Of you know it can step back from you know ben bernanke you could he said as chairman of the Federal Reserve bank that he could reverse the quantitative easing in 15 minutes and nobody know the difference is just a temporary measure around greenspan thought it was later after he retired repudiated his entire career and mentioned that his thought about the economy were all completely wrong about we know that it cant possibly taper oppose it cannot possibly taper a ponzi scheme gold is going to 3005. 00. 100. We told you here 1st and the most because were the best of course its the dollar its all the fear out balling against gold gold is just a real thing that has had value for 5000 years and again another thing that weve pointed out is so much money printing so little velocity and youve seen the money printing just go this is it going but it wouldnt like its always been pretty high but now its gone exponential this is the sort of hyper inflationary moment i guess if you look at the chart the red line has shown that the money velocity is collapsing all those central bankers Christine Legarde you know jay powell all they can do is give money to the banks right to the member rests they actually vomit money out there by vomiting money. Well thats what theyve been doing but into their friends breakfast bowl you know have if youve ever seen a doll do that thats what theyd like to do is vomit into the breakfast bowl and they give it to their friends and of course theyd have enough houses they have enough islands that they own and yachts and at this point in the game 50 years into this system they just cant buy anything else theres nothing of value anyway being produced anymore theres no good art theres no good anything to buy really except for i guess a spot on the lawn musts. You know spaceship to mars maybe thats worth something. Well yeah the money velocity chart shows clearly that all the cash that has been printed has been hoarded by the bankers to keep their Balance Sheets solvent by filling up the tank even though the tank has a massive leak and that leak goes magically into the pockets of just a few of their friends in what we call financial apartheid and it continuing unabated at the moment but the goal of vigilantes and the sober vigilantes of a big coin vigilantes are now riding into town though the 3 horses of the apocalypse goltz over a bit coy is the new sheriff in town you know i actually as were speaking about means and images and how just looking at a number or some data can really alter your mindset like that they could alter the feeling in the mood amongst the population and thats what fed speak is all about right this is that theyre trying to give the animal spirits the markets so i want to look at gold dollar and u. S. Fed funds rate going back to 1991 and this 1st one is gold and you see thats the peak back in 1980 then when paul volcker stepped in and raised Interest Rates to 20 percent and Global Investors were like ok the dollar is going to be as good as gold because when we went off the Gold Standard 71. 00 you know there was a lot of volatility people were doubtful whether or not the dollar could survive and then in 2008 through 10 the other peak that happened and you know when i look at that chart and an obviously its broke through in 1900 again as its becoming volatile again on its way up but if you look at that point 1982008 through 2010 those are the 2 great interventionist moments of the u. S. Federal we. Into this u. S. Dollar fiats system paul volcker Interest Rates slam them up to defend the dollar then in 2800. 00 to 2010 that ben bernanke and the fed slammed Interest Rates down to near 0 and these are the 2 moments the conflicts between like the Global Financial system gold dollar gold dollar gold dollar and at those points where you know they hit its peak and then it crashes because people seem to believe that the fed has been able to maintain this value of the dollar right i guess you know paul fall for by raising Interest Rates like he did to 20 percent or so around 1980 he really set the stage for this Greenspan Bernanke janet yellen jay powell herea of dropping rates from 20 percent down to now its just about at 0 and talked about it going negative so he did a really good job in 1980 restoring faith in the dollar but he also set the stage for a series of Federal Reserve chairman after he left to take his good work and to constantly extend and pretend so every crisis in america has been packaged as a bond and sold into the junk bond market with a longer maturity at a slightly lower coupon rate and theyve been doing this now for 40 years to the point where americas indebtedness says ben it engineer to the point of an extinction event as have many countries as has the globe so the globe right now is so deep and buried into debt that we are now entering into a hot war situation and thats usually what happens when you have a debt like this all over the world you go from currency war trade war hot war and the u. S. And china because of money. Are now entering into a hot war and its because of money all those jobs warning against china and hatred against china remember its based on. Money if you understand that. You understand we have course could not open up to china unless we had a global. Reserve standard based on the dollar because we were never going to send them our gold so we could send them all the dollars we wanted and you could see that in this chart by the way so you know heres the gold chart again and it declined as bottom was in 2002001 what happened in that in 2001 december 11th 2001 well china became a member of the World Trade Organization and they got to as a developing nation so they get to impose huge share of us cant but thats a way to of course make the dollar supreme because you sent you have to send them your dollar you have to thats by thats how that trade relationship works and you see that gold figured out we long ago i mean were all its only been coming to a head today in 2020 but gold figured out immediately they saw this 20 years ago as soon as it happens here is the dollar you know from 1980 and then you know its volatile but all the way down you see the clear trend is down and Interest Rates you know by the way that dollar chart is just against other fiats so its kind of like how they monitor the c. P. I. The Consumer Price index but they take out anything that anybody actually uses like housing and and food and and energy and education those sort of costs they take them out and then they put like trousers made in china and obviously your prices are going down so they dont actually compare it to gold gold is not in that chart of the u. S. Dollar index so youre not youre not seeing a genuine index its just against all there for yachts and finally on the charts i want to show you the fed funds rate amounts where were talking about 20 percent. The all time high under of paul volcker and then since he did that is suspend all the way down but again the mindset of these are the boomers have lived in an ever declining rate of interest right at the fed funds rate so theyre always able to roll over the debt the american empire could be built on overseas being able to roll over your debt so were at that point and its no coincidence that all the conflict and globalization and the dollars of the nation and starting to happen right coming off a 20 percent Interest Rate in 1900 course and those the birth of Financial Derivatives so that allowed for the expansion almost into the expansion of debt without any need of accounting because they put all of those bad debts off Balance Sheet and they quote unquote head them with derivatives that would occasionally blow up but then they would get a bailout and thats been the cycle weve ever been you know speaking about gold trading at 250. 00 an ounce of the low at that time i remember public intellectual Francis Fukuyama wrote of influential essay called the end of history right thats how crazy faithfuls brains were that you know gold would never have value anymore everything was dollar based and that was a bad call again so the fed funds rate has been declining all this time and what has also and the derivatives the explosion of derivatives again under clinton the same right before exact same time is trying to answer the debt b. T. O. We ship all our jobs overseas exact same time to get rid of glass steagall and introduce the commodity futures modernization act in 2000 that allows us to print so much money and send it all overseas that which reduces inflation at home but also hide it into this pile of of quadrillions and quadrillions of derivatives floating on top of this little tiny a khana me and you see that in this final chart here i want to say the s. And p. 500 this is somebody who responded to jimi hendrix i dont know if its really jimi and. Now i dont saying because the Copyright Cartel will get you but here you see that number of shares out stand. In the s. And p. 500. 00 and you see as being taken private thats part of the hoarding that you see the money velocity collapsing is theyre all like hoarding all the assets all the property all the land all the stock everything is hoarded and held way b. S. Or this is from it out of. A lot of people. Do you move but i miss you all the. Rest a brass thing. Is youll be via reflection of reality. In a world transformed. What will make you feel safe from. The isolation for community. Are you going the right way or are you being that. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or remain in the shallows. Us secretary of state might be ok oh hes on a mission he claims the world must change china or china change just how should we interpret this cold war to be waged against me this is also implied forced regime change china is certainly a major global competitor but is it now our. A dark industry comes to life in los angeles every night. Dozens of women sell their bodies on the street many of them underage. Los Angeles Police reveal a taste of their daily challenge no if youre going to exploit a child here in los angeles are there were going to come after you see officers going undercover as sex workers and customers to fight the l. A. 6 trade. Welcome back to the kaiser report im max kaiser time out of turn to jack mahler c e o of zap hes been building some amazing tools for the big space jack welcome back to knox how you doing by thanks for having me always a pleasure it seems like things are happening out there in chicago now last we spoke to you about a year ago in new york city remind the audience what the Lightning Network is and how your company fits within that ecosystem yeah so whitening is a protocol on topic y. And its really interesting because for the 1st time we can move because when instantly and or essentially sri anywhere in the world and so previously i was not possible it adds a lot of utility to the as it was previously impossible and we just capture that utility and offer it to consumers we want consumers all over the world to be able to benefit from decline not only as an asset class but the utility of value transparent settlement so we use decline as a settlement real with lightning which is pretty exciting and now right youve got a new product called strike it its big news and the big calling press im reading about it every day tell us what it is and what problem it solves so this idea that we use bitcoin as a settlement real now so if i can transfer value anywhere in the world for free and instantly thats a pretty big deal a lot of plies to remend says commerce brick and mortar micro payments and so we simply allow users to connect a typical Payment Method like a bank town or debit card and interact with this payment rail they dont have to deal with taxes volatility they dont have to custody as majority of our users dont even know that theyre interacting with behind the scenes were using their client to more efficiently transfer unsubtle value which is a huge huge deal we can do pretty much any financial activity for a consumer cheaper faster and easier so im excited everyone seems. Cited and its the beginning all right so according to according desk quote strike gives its user a unique public web site where people can send bitcoin just by scanning a q. R. Code so thats basically what youve just been describing there a lot of people have been complaining over the years that the you x. Or user interface for big calling is no good but you know this seems like the 1st step toward actually creating a much more user friendly experience of decline right jack. Yeah i think the question that we pose is if consumers are looking for utility with yes or do they actually need to touch it number standard. Technological details on the only reason in my opinion you should never hold because if youre speculating on it and youre using as a store of value are looking for censorship resistant financial activity but for a settlement rail people dont have to touch it we can deliver a Consumer Experience just like cash after that mark if. Ocular sent banks out today and just used to quote behind the scenes to gain really unlimited amount of stations right so a lot of people have been in pick land for a while we remember back in 2017 they have the block size wars we had some hard forks we have got all these all coins and they all claim to be making big point easier to you so they got more transactions and all married have things and features but it seems like they claim big quien pretty much does it all just a matter of being patient and letting developers develop well rise to the top and heres a good example of it right so this this product essentially obviates all those claims made by a competing coyness to have features that obsolescence bitcoin thats kind of a long question but what do you think i agree i think they all coins generally have been what i like to describe as an arbitrage im trying and as you see a lot of people coming into this space looking to invest capital looking to take advantage of what seems to be an opportunity but lack knowledge and so you have people arbitrage not spread and selling someone whos really interested would trying to keep growing or orange point but time typically cures all and at the end of the day this is a Software Project and Building Software sound Software ProductionModel Software just takes time and so i think that arbitrage opportunity continues to shrink it was easier to sell in all coin 10 years ago than it is today and that general continue to go on so i have no fears when it comes. The big quints quote unquote competition i dont believe it has any competition frankly and its just the way to drown out the transmitter value from those who dont deserve it for those that do honestly all right fair enough now you know it seems like what youre saying heres kind of the opposite of what some in the Technology Industry say this idea of build things fast and break things or fill things and break things right so this idea where its ok to break stuff because youre going really fast and youre here innovating but in the case of bitcoin because people use it as a store of value and money actually its the opposite right you want to go slowly because theres a hundreds of billions of dollars at stake in the protocol and so i think thats what a lot of people to text based on get and certainly a lot of people of Bitcoin Space who are working on the core left because it just wasnt happening fast enough and i got bored with it but. Here we are now with it having all kinds of major banks and Companies Get involved like visa so tell us about the your companys relationship with visa how does that help the ordinary consumer or Retail Outlet of course whats the significance of multinational regulated entity like visa getting involved with bitcoin whats going on there jack yes i have a really close relationship with visa which is a story within itself in my opinion theyre a huge Company Really well read and his stand in their knowledge is because they know about as much as any axe ive been really impressed with and our relationship as a business is were coming out with a. B. C. Back hard so the idea is to further off the scale one of users interacting with bitcoin bringing a mainstream experience to consumers with the client you can swipe a visa card and pay a lightning invoice pay an arm of the coin transaction and use dollars back by the strike economy in the consumer will be so far divided from where the decline is actually helping. Behind the scenes and just really trying to drive a mention